Skip to Main Content
University of Nevada, Reno LogoUniversity of Nevada, Reno
Keck Schulich Exhibit Logo
  • Home
  • Collection
  • Stories
    • Forging the Wild West
    • Art of the Bond
    • Nevada’s Promises and Perils
    • Railroads and Trade Routes
    • Bankrolling the Revolutionary and Civil Wars
    • Tycoons and Benefactors
    • Scandals and Swindlers
    • Backing the Republic of Texas
  • Resources
    • Resources for Teachers
    • Resources for Researchers
  • About the Exhibit
Home > Nevada's Promises and Perils
  • Nevada's Promises and Perils

    Nevada’s boom or bust spirit beckoned a rugged and grit-filled individual, unafraid to gamble with fate and fortitude. Travel Nevada’s Odyssey of quick riches, catastrophe, and failure-borne determination, striking at the heart of what has created our desolately resilient landscape of failure and fortune.

Table of Contents:

  • Origins of the Comstock: The Hale and Norcross
  • False Hopes at the Four Aces
  • Nevada Revolves Around Tonopah & Wingfield
  • Tragedy Strikes at the Yellow Jacket Mine
  • Rawhide and the Era of Boosterism
  • Queen of the Short Lines: The Virginia & Truckee Railroad
  • The Sutro Tunnel: Capitalism at Its Finest
  • Origins of the Comstock: The Hale and Norcross

    Map of mining claims along the Comstock Lode and a photograph of the Hale and Norcross mine buildings

    The Hale and Norcross was one of the first mines developed after the discovery of the Comstock Lode and one of the mining district’s best producers. The Bonanza Group wrested control of the mine away from the Bank Crowd, leading to a shift in power in Virginia City.

    Read more about Origins of the Comstock: The Hale and Norcross

    Left Image: The Hale & Norcross Mine shown on a map of locations of important mines and deep shafts, 1885; courtesy Special Collections Department, University of Nevada, Reno Libraries [1]. Right Image: The Hale & Norcross mine in Virginia City; courtesy Special Collections Department, University of Nevada, Reno Libraries [2].

  • False Hopes at the Four Aces

    “Bullfrog Miner” magazine cover with cartoons of frogs as miners and a topographic map of the Rhyolite-Bullfrog region

    Following the discovery of rich mines in Tonopah and Goldfield, prospectors renewed efforts to discover gold and silver ore in Nevada. Many believed that Bullfrog was the next big strike, but shareholders invested in a dream that never met expectations.

    Read more about False Hopes at the Four Aces

    Left Image: The bullfrog became a major symbol of the mining district, as depicted on the cover of this 1907 issue of the Bullfrog Miner; courtesy Wikimedia Commons [3]. Right Image: Topographic USGS map of Rhyolite and Bullfrog from 1906; courtesy Wikimedia Commons. [4].

  • Nevada Revolves Around Tonopah & Wingfield

    Postcard of an aerial view of the town and mining works of Tonopah and a portrait of George Wingfield

    The mines of Virginia City had fallen silent by the early 1900s, but the discovery of silver in Tonopah and Goldfield reinvigorated Nevada’s economy. The region rapidly became the center of political and financial power in Nevada with George Wingfield at the helm.

    Read more about Nevada Revolves Around Tonopah & Wingfield

    Left Image: Aerial view of Tonopah; author E.H. Mitchell courtesy of Alison Hotten [5]. Right Image: George Wingfield, who made his fortunes off the mines of Tonopah; author N.E. Johnson courtesy of the Special Collections Department, University of Nevada, Reno Libraries [6].

  • Tragedy Strikes at the Yellow Jacket Mine

    Mine building with smokestacks and an illustration of how the Sutro Tunnel could have saved miners from the mine disaster

    The state of Nevada was built on the fortunes of its mining industry, but mining was a hazardous undertaking. The Comstock’s Yellow Jacket Mine was the site of one of the worst disasters in Nevada’s mining history when a fire broke out in the mine on April 7, 1869.

    Read more about Tragedy Strikes at the Yellow Jacket Mine

    Left Image: The Yellow Jacket Mine, the Comstock Lode; courtesy Special Collections Department, University of Nevada, Reno Libraries [7]. Right Image: “Fire in Yellow Jacket Mine,” 1869 illustration showing how the loss of life that occurred in the Yellow Jacket disaster might have been prevented if the Sutro Tunnel had existed; courtesy of the Special Collections Department, University of Nevada, Reno Libraries [8].

  • Rawhide and the Era of Boosterism

    Photograph of the Nevada Hotel in Rawhide with mining works in the hills behind it, and a portrait of Elinor Glyn

    Prospectors were exploring the west in search of the next big mining strike, while investors scrambled to buy into mining stocks on the ground floor. Scam artists took advantage of this climate by selling stocks in mines that were often mediocre at best, while touting their untold riches.

    Read more about Rawhide and the Era of Boosterism

    Left Image: The Nevada Hotel in Rawhide, Nevada, ca. 1915; courtesy Wikimedia Commons [9]. Right Image: Elinor Glyn poses for a photograph on a cruise ship, ca. 1900; courtesy Library of Congress [10].

  • Queen of the Short Lines: The Virginia & Truckee Railroad

    Photograph of the railroad’s engine house with locomotives emerging, and the Great Seal of the State of Nevada

    The mines of Virginia City’s Comstock Lode were isolated in the mountains of Nevada. The completion of the Virginia & Truckee Railroad brought less expensive supplies to the Comstock while boosting mine profits by transporting ore more efficiently.

    Read more about Queen of the Short Lines: The Virginia & Truckee Railroad

    Left Image: The Carson City engine house for the V & T railroad, 1939; courtesy Library of Congress [11]. Right Image: The Great Seal of the State of Nevada depicting a train trestle similar to the Crown Point trestle; courtesy Wikimedia Commons [12].

  • The Sutro Tunnel: Capitalism at Its Finest

    Portrait of Adolph Sutro and a picture of a mule drawing a cart of men out of the entrance of the Sutro Tunnel

    The Sutro Tunnel was a feat of engineering, stretching nearly four miles through the mountains to reach the mines of the Comstock Lode. It was designed to more efficiently move ore out of the mines, while also providing drainage and ventilation. However, the Sutro Tunnel project was contentious and ran into resistance from the William Sharon and the Bank Crowd.

    Read more about The Sutro Tunnel: Capitalism at Its Finest

    Left Image: Adolph Sutro, the man behind the tunnel; courtesy Wikimedia Commons. [13]. Right Image: The entrance to the Sutro Tunnel, which ran nearly four miles to the mines of the Comstock; author EXC courtesy of Alison Hotten. [14].

Related Bonds

Certificate with black ink shows intricate borders and lettering, vignettes with miners, company insignia, and seven punched out holes

The Hale and Norcross Mining Company

Certificate with black ink shows intricate borders, lettering, and vignettes with horses, a boat, an eagle, and “Liberty, Virtue, Independence.”

The Original Keystone Silver Mining Company

Certificate with black ink shows intricate borders, lettering, vignettes with men, horses, and a river, cancellation stamp & star-shaped cutouts

The Yellow Jacket Gold and Silver Mining Company

Certificate with black ink shows intricate borders, vignettes with a miner, a red IRS stamp with George Washington, and a company seal

Gold Hill Tunneling Gold and Silver Mining Company

Certificate with black ink shows intricate borders, lettering, and numbers

East Best and Belcher Silver Mining Company

Certificate with black, yellow, and red ink shows intricate borders, lettering, and vignettes with a cornucopia of foods and a small mining village

Bodie Bluff Consolidation Mining Company

Certificate with black ink shows intricate borders and lettering with red strike-through words and two purple bleed-through stamps

Consolidated Virginia Mining Company

Certificate with black and blue ink shows intricate borders and lettering, company seal, and vignettes with a farm town and train and woman

Cincinnati Railway Tunnel Company

Certificate with black and green ink shows intricate borders and lettering, signatures, company seal, an eagle vignette and cancelled punched out

Getchell Mine, Inc.

Certificate with blue and black ink shows intricate bordering, lettering, Treasurer’s seal, and vignettes with a train, bridge, building and plow

State of Nevada Highway Bond

Certificate with black and red ink shows intricate bordering, lettering, signatures, company seal, and vignette of a hand holding a set of aces

Four Aces Mining Company

Certificate with black and red ink shows intricate bordering, lettering, signatures, company seal, and vignette of a woman

Tonopah Gold Mountain Mining Company (1904)

Certificate with black, blue, and orange ink shows intricate bordering, lettering, a company seal, signatures and a vignette of an eagle

The Rice Oil Company

Certificate and attached large coupon with black ink shows intricate lettering, signatures, and vignettes of American and British flags

The Nevada Freehold Property Trust

Certificate with black ink shows intricate lettering, signatures, a cancelled stamp, and a vignette of a Greek deity overlooking a ship sailing

American River, Water and Mining Company

Certificate with black ink shows intricate borders, lettering, signatures, a company seal, and vignettes of miners, mining carts, and gold panning

Rawhide Bighorn Mining Company

Certificate with black and orange ink shows intricate borders, lettering, signatures, a company seal, cancel stamps, and a vignette of miners

Tonopah Divide Mining Company

Certificate with black ink shows intricate borders, lettering, signatures, and a vignette with a bulldog, horse-drawn carriage, harbor, and eagle

American Express Company

Certificate with black, blue and red ink shows intricate borders, lettering, company seal, signatures and a vignette of a man riding a horse

Yellow Jacket Silver Mining Company

Certificate with black and green ink shows intricate borders, lettering, a company seal, and signatures

Reno News Publishing Company

Certificate with black and orange ink shows intricate borders, lettering, a company seal, signatures, and a vignette with a woman with a shield

Reno Trust Company

Certificate with brown ink shows intricate borders, lettering, a company seal, signatures, AN IRS stamp, and vignettes of miners and a mine shaft

Nevada Silver Mining Company

Certificate with blue and black ink shows intricate bordering, lettering, signatures, and “canceled” handwritten in red ink

Bodie and Hawthorne Telephone and Telegraph Company

Certificate with black ink shows intricate bordering, lettering, a company seal, signatures, coupons with holes, and train on a bridge vignette

Virginia & Truckee Railroad Company

Certificate with black and gold ink shows intricate bordering, lettering, a company seal, signatures, cancel stamps, and a vignette of a woman

Tonopah Gold Mountain Mining Company (1906)

Certificate with black, brown, and gold ink shows intricate bordering, lettering, a company seal, signatures, and a vignette of miners and a waterfall

California Divide Mining Company

Certificate with black ink shows intricate bordering, lettering, and signatures

Eureka Tunnel Consolidated Mining Company

Related Stories

  • George Graham Rice: The Jackal of Wall Street Full Story

  • Meyer Guggenheim: Patriarch of a Philanthropic Dynasty Full Story

  • Wells and Fargo Bring the American Express Company West Full Story

  • John C. Frémont: General, Explorer, and Entrepreneur Full Story

Sources

  1. Left Image: Map of the Comstock Lode [map]. (1885). Photograph Collections (UNRS-P0437-03a, Mines of the Comstock Lode). Special Collections Department, University of Nevada, Reno Libraries, Reno, Nevada.
  2. Right Image: Hale and Norcross Mine [photograph]. (n.d.) Photograph Collections (UNRS-P2012-08-00254, W.M. Keck Museum Photograph Collection). Special Collections Department, University of Nevada, Reno Libraries, Reno, Nevada.
  3. Left Image: Bullfrog Miner Newspaper [illustration]. (1907). Public Domain from Wikimedia Commons. Retrieved from https://commons.wikimedia.org/wiki/File%3ABullfrog_Miner_1907.jpg
  4. Right Image: USGS. (1906). Bullfrog special map [map]. 1:24,000. Public domain from the USGS via Wikimedia Commons. Retrieved from https://commons.wikimedia.org/wiki/File:Bullfrog_Special_Map_1906.jpg
  5. Left Image: Mitchell, E.H. (n.d.). General view of Tonopah, Nevada [postcard]. From the collection of Alison Hotten.
  6. Right Image: Johnson, N.E. (1928). George Wingfield. The man who backed the prospectors. He made the most money. [photograph]. Photograph Collections UNRS-P2012-02-010, Nevada and Lake Tahoe, N.E. Johnson Photograph collection). Special Collections Department, University of Nevada, Reno Libraries, Reno, Nevada.
  7. Left Image: New Yellow Jacket shaft: depth 3000ft [photograph]. (1891). Photograph Collections (UNRS-P2001-01, Nevada Images collection). Special Collections Department, University of Nevada, Reno Libraries, Reno, Nevada.
  8. Right Image: Fire in the Yellow Jacket Mine [illustration]. (1869). Photograph Collections (UNRS-P1988-30-03, Sutro Tunnel Company collection). Special Collections Department, University of Nevada, Reno Libraries, Reno, Nevada.
  9. Left Image: Rawhide, Nevada Hotel [photograph]. (ca. 1915). Public Domain from Wikimedia Commons. Retrieved from https://en.wikipedia.org/wiki/File:Rawhide_1915.jpeg
  10. Right Image: Bain News Service. (ca. 1900). Elinor Glyn [photograph]. Public Domain from Library of Congress. Retrieved from https://www.loc.gov/item/2014712617/
  11. Left Image: Historic American Buildings Survey. (1939). Virginia & Truckee Railroad shops, between Plaza, Ann, Stewart & Sophia Streets, Carson City, NV [photograph]. Public Domain from the Library of Congress. Retrieved from http://www.loc.gov/pictures/item/nv0032.photos.104071p/
  12. Right Image: The Great Seal of the State of Nevada. (1879). In The American Cyclopædia, v. 12, 1879, pp. 263. Public Domain from Wikimedia Commons. Retrieved from https://commons.wikimedia.org/wiki/File%3AAmCyc_Nevada_-_seal.jpg
  13. Left Image: Brady, M. & Handy, L.C. (ca. 1865–1880). Adolph Sutro [photograph]. Public domain from Library of Congress via Wikimedia Commons. Retrieved from https://commons.wikimedia.org/wiki/File:Adolph_Sutro_by_Brady.jpg
  14. Right Image: EKC. (n.d.). Sutro Tunnel [photograph postcard]. From the collection of Alison Hotten.
  15. James, R.M. 1998. The Roar and the Silence: A History of Virginia City and the Comstock Lode. University of Nevada Press: Reno, Nevada.
  16. James, R.M. 2009. “Sutro Tunnel.” Online Nevada Encyclopedia. Retrieved from http://www.onlinenevada.org/articles/sutro-tunnel
  17. Sutro Tunnel [photo collage]. (1890). New York: The Albertype Co. Public Domain from the Library of Congress. Retrieved from https://www.loc.gov/item/93503844/
  18. Waterman, A.H. (April 1971). Tunnel to oblivion. Desert Magazine, pp. 22-25. Retrieved from http://www.dezertmagazine.com/mine/1971DM04/index.html
Back to Top

Site Navigation

  • Home
  • Collection
  • About the Exhibit

Story Themes

  • Art of the Bond
  • Backing the Republic of Texas
  • Bankrolling the Revolutionary and Civil Wars
  • Forging the Wild West
  • Nevada’s Promises and Perils
  • Railroads and Trade Routes
  • Scandals and Swindlers
  • Tycoons and Benefactors

Resources

  • Resources for Researchers
  • Resources for Teachers
Keck Schulich Exhibit Logo

© 2025 Keck Schulich Exhibit