James C. Flood was born in New York city. He received only a plain
common school education, but has succeeded, not from a lack of education
but in spite of that lack. He passed through the usual routine of boys
placed in moderate circumstances, until the year 1849, being past his
majority, he sailed in the good ship "Elizabeth," around the "Horn,"
arriving in a strange land without money or friends, but he had brains,
and they were reinforced by a surprising allowance of will-power.
He drifted from one thing to another, kept a restaurant, and finally in
1854 loomed up as senior partner in the firm of Flood & O'Brien, who
were soon deep in "Old Kentuck," seeking the treasures which they found
in great quantities, and finally when they took hold of the "Hale &
Norcross" mine, it made them the first bonanza kings America ever knew.
He next projects the Nevada Bank and makes the call for over five
millions of dollars which leads to the suspension of the Bank of
California, as the indiscrete placing of its resources leaves that bank
in a weak position to withstand so sudden a drain, and was therefore
indirectly the cause, as most people think, of its beloved President's
death. Mr. Flood desired to place this Nevada Bank upon so firm a
foundation that neither the indiscretion of speculators or the ebb and
flow of mercantile life could overthrow it. How well this has been
accomplished can be seen from the fact, that it has a capital of nearly
fifteen million dollars, and numbers among its directors, such bonanza
kings as James C. Flood, John W. MacKay and James G. Fair, whose private
fortunes combined represent over $100,000,000, to say nothing of other
wealthy directors. This bank asserts that it has special facilities for
handling bullion, and we should think quite likely it has. Something of
the condition of the private finances of Mr. Flood can be ascertained.
If one takes the trouble to look over the assessment roll he will find
the following: "James C. Flood, 6,000 shares, Nevada Bank stock,
$1,200,000; 12,000 shares, Pacific Mill & Mining Co., $4,000,000; 250
shares, Pacific Wood, Lumber & Flume Co., $30,000; 1,000 shares, San
Francisco Gaslight stock, $90,000; 937 shares of Golden City Chemical
Works, $20,000; 3,000 shares of Virginia & Gold-Hill Water Co.,
$300,000; 47-1/2 shares of Giant Powder Co., $60,000; 649-1/2 shares
Atlantic Giant Powder Co., $30,000; 35,000 shares Ophir Mine stock,
$1,000,000," and he is assessed for $250,000 in money. Then comes J. C.
Flood & Co. "Controlling interest in stock of Yellow Jacket, Union
Consolidated, Scorpion, Savage, Ophir, Occidental, Hale & Norcross,
Gould & Curry, Consolidated Virginia, Best & Belcher and other mining
companies, $10,000,000; money $500,000." In all it is quite a fortune
for a poor boy to find, but it must be remembered that Mr. Flood had
much with which to contend, and that nine men out of ten might have
passed over the same ground and found nothing. Industry is what wins,
and J. C. Flood is no exception to the rule. In a recent law suit Mr.
Flood displayed a most peculiar memory, or rather a most remarkable lack
of memory. We take the following facts from an editorial on the subject:
"A certain man sued Mr. Flood to recover about $26,000,000, the alleged
value of certain 'tailings' on some of the mines. Mr. Flood did not know
what company milled the ore of the Consolidated Virginia; did not
remember who was President of the company at the time; he might have
been; could not say for certain however; did not know where the crude
bullion from his own mines was sent to be melted into bars; could not
tell how much was worked, nor anything about it. He did not remember who
was treasurer of the mill company; he might have been, might now be, but
could not tell for certain."
Mr. Flood owns one of the finest mansions, for a private residence, in
the whole world. It cost one million, and is a magnificent building in
any sense.
Few men surpass him in either getting or keeping money.