Octave Mining Co. - 1908 dated Arizona Mining Stock Certificate
Inv# MS3245 Stock
Stock printed by Northern Bank Note Co., Chicago. The Octave Mining Company was chartered on November 28, 1906, by the Charles E. Miesse Company of Chicago after favorable gold and ore deposits were located near Wickenburg. Octave Mining Company property encompassed some 380 acres and six patented lode claims as well as six side claims. The company’s operations were financed by the sale of its stocks and bonds and at one time Octave Mining Co. was worth approximately $1,750,000. In February of 1909, the company expanded its operations to include the Central Arizona Electric Company and its power plant located in Wickenburg.
The Central Arizona Electric Company provided power both to the mine itself and local business and residential consumers. After mining nearly two million dollars worth of gold and ore the Octave Mining Company declared bankruptcy in October 1910. Following a failed reorganizing effort on behalf of its shareholders, the mine and equipment were sold in 1912 for $35,000 at a total loss to investors. (From Arizona Historical Society)
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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