Grand Belt Copper Co. 1885 I/U Stock Certificate With Company Established by George McLellan.

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:60.00 USD Estimated At:100.00 - 200.00 USD
Grand Belt Copper Co. 1885 I/U Stock Certificate With Company Established by George McLellan.

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New York, 1885. 100 Shares I/U Capital Stock Certificate, S/N 799, Black text with brown border, Eagle with shield at center flanked by plowing and mining scenes. VF condition but cut close on left, ABNC. George B. McClellan, former commander of the Army of the Potomac, took up mining after the Civil War. He noticed copper deposits in northwest Texas while on an expedition in 1852. He formed the Grand Belt Copper Company in 1877 based on a geologic report and eyewitness accounts of plentiful copper deposits. The company purchased 200,000 acres in Hardeman County for 25 cents per acre. After a three-year suspension in operations while McClellan served as governor of New Jersey, mining resumed in 1884. He and his employees found ore mainly near the surface. They collected it from a broad area, including multiple sites within the present-day park. Up to 100 employees worked the steam-powered machinery and rock-crushing equipment. A nearby shantytown of saloons, brothels and other frontier businesses soon appeared. Major obstacles blocked McClellan’s dream of riches, including fuel and water shortages, transportation issues, and unfortunately his death in 1885. The company continued limited operations for three more years before closing.