John W. MacKay is not only the youngest and the richest of that bonanza
trio--Flood, Fair and MacKay but immense wealth has not spoiled him. He
is of Irish birth, but came to this country before he was of age. When
the gold fever broke out he was one of the first to seek his fortune in
that auriferous country bordering on the Pacific, in California.
Contrary to the general supposition that his great wealth came through
'good luck,' let me say, it was only by constant toil and slowly
acquired experience that he learned how to tell a non-paying lead from a
bonanza. Several times he seemed about to strike the long-looked for
success only to find his brightest hopes dashed to the earth. But these
failures tempered him for the greater hardships that followed.
The famous "Comstock Lode" is situated among a vast accumulation of
rocks and deep canyons--the result of terrible volcanic eruptions at
some remote period. This mining district was discovered by two Germans
in about 1852-3. Contrary to the opinion expressed by other prospectors,
these Germans saw silver in the rejected ore. Both brothers suddenly
dying, the claim fell to a storekeeper named Comstock who sold out for
a few thousand. Mr. MacKay's investment in the one mine, the
"Consolidated Virginia and California," has paid him unheard of
dividends. This mine produced in a period covering six years, from 1873,
gold and silver to the amount of over sixty-three millions of dollars.
The combined profits of the two mines were over seventy-three and
one-half millions of dollars. Mr. MacKay drifted to this lode, making
his first 'hit' in 1863, and in this section the bulk of his vast
fortune was accumulated.
On the 25th of November, 1867, he concluded that he was able to support
a wife, and accordingly married the widow of an old friend (Dr.
Thompson) who had shared his varying fortune of former years when he
little dreamed of the vast wealth that awaited him. This lady is one of
the best hands to help a man spend a fabulous income, of which we are
aware. She lives in Paris, where she gives the most expensive of
entertainments. When General Grant was in France he was her guest. She
supports a private railway carriage to use at her pleasure, and it would
almost exceed belief to describe the cost of her table service; in fact,
she lives in oriental splendor. On the other hand Mr. MacKay is
decidedly pronounced, personally, in favor of little show. He is far
more at home in Virginia City, where he may often be seen in a genuine
mining costume, than at his palatial home in Paris.
The ground had been known for years wherein his great wealth was found,
but it was pronounced worthless. Everything seemingly had to be
contested; confidence was lacking, and what confidence remained was
daily agitated by parties who were jealous rivals. The stock became
almost worthless, and great discontent was manifest when, to make
matters worse, a fire broke out which burned the company's property and
valuable machinery. Twelve hundred feet of ground had to be slowly gone
over in search for the right vein, at a cost of $500,000. Amid great
discouragement John W. MacKay led this apparently forlorn hope to at
last be crowned with the success he so richly deserved. He now is
estimated to be worth in the vicinity of $55,000,000, and although it
may seem a somewhat extravagant reward, it cannot be denied that this
vast sum could have been placed in far worse hands.
Both Mr. and Mrs. MacKay are very liberal toward charitable purposes.
They were especially complimented by Pope Leo XIII for their charitable
deeds. As Mr. MacKay is but about fifty years of age, it is hard to
conjecture his possible future. While many features in his career seem
to justify the belief in "luck," still, to the close observer, it is
manifest that had he not possessed great endurance, and known no such
thing as fail, the world would never have known of John W. MacKay.
Surely, great effort is the price of great success, ALWAYS.