Greene Gold-Silver Co. - 1907-08 dated West Virginia & Mexico Mining Stock Certificate
Inv# MS1318 Stock
Stock printed by American Bank Note Company, New York. Greene Gold-Silver Company of Mexico. Available in Green or Brown. Please specify color. Chihuahua. Ocampo. Navidad.
Greene Gold-Silver Company, established around 1907, was incorporated in West Virginia. Its mining operations were situated near Ocampo, Chihuahua, Mexico, encompassing the Navidad-Aaragoza group at Concheno, Ocampo, Trinidad, Guyanopita, and Santa Brigada, all located to the west of Chihuahua city. Colonel William C. Greene was a notably intriguing figure. As Stevens remarked, it is perplexing how Colonel Greene, a man of considerable talent across various domains, allowed his obsession with acquiring mines to dominate his actions, leading the company to pursue such irrational strategies.
Towards the end of the company's tenure, Greene secured a loan of $250,000 from his long-time associate, President Diaz of Mexico, in an attempt to support the company; however, this financial assistance proved insufficient to rectify the flawed operational strategies in place. Rather than purchasing properties outright, Greene opted for options, which rendered the company vulnerable to financial instability, ultimately resulting in its disintegration. Stevens critiqued the directors' failure to intervene sooner to curtail Colonel Greene's acquisition spree when the company was on the brink of failure.
The Greene Gold-Silver Company held its assets through a Mexican corporation, yet the stock of that entity was reportedly "hypothecated," indicating that the American company possessed no value beyond its office furnishings. To address the company's debts, the acquired properties were slated for sale. As Stevens noted, the company had overextended itself by acquiring too many properties and misallocating funds on additional purchases instead of solidifying those already under partial payment. Although Colonel Greene did not gain personally from these ventures and is said to have suffered a complete breakdown, allegedly due to nervous exhaustion, the ultimate responsibility for the company's total collapse lies with him. The only viable opportunity for recovery appears to be through the reorganization of the company, which may allow for the old shareholders to retain some stake.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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