James Clair Flood’s Great White Elephant

James Flood’s Linden Towers â€" the Great White Elephant.

James Clair Flood (1826-1889) was an extremely clever man. He grew up in New York as a carriage builder after attending school to the eighth-grade.

After going to California in 1849, he worked the gold fields and met with some success. He then returned to New York state and married Mary Leary, an Irish woman who immigrated to the United States. Returning to San Francisco, Flood and a partner, William S. O’Brien, opened a saloon near the Mining Exchange. The Mining Exchange handled stock from the silver mines in Nevada. Flood was a good listener and, when the brokers came in for a drink, he listened to them. From this, he was able to learn enough to invest in silver stocks when they were on their way up in value. In 1860, Flood and O’Brien formed a partnership with Irishman James Graham Fair, a mine superintendent, and John William Mackay, a mining engineer. These men became known as the “Bonanza Kings” and made fortunes from this chaos that existed. In the 1870s, they joined forces with the Consolidated Virginia and the California claims in the Comstock Load. In 1873, they gained control of the stock in the Consolidated Virginia Mining Company. The company discovered the greatest silver bonanza in history. In the first six months of 1875, the mine’s output was said to be $1.5 million monthly.

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