Aguacate Mines

Aguacate Mines
Item# 4003

Aguacate Mines was incorporated in the state of Maine in 1907, and had operations in Costa Rica. The company owned the Quebrada Honda mine with ore that assayed at $8 gold per ton. In 1920, the deepest working level was 1000 feet. There was a cyanide plant that could treat 2,000 tons per month. Although, by 1926, the company was in receivership in Costa Rica and the Maine charter in forfeiture. The Mine Handbook states “…mention is made in this book because of the remarkable efforts of the president (of the company) to make a success out of the proposition.” In 1910, the president, W. F. White (whose signature appears on this certificate), visited the Quebrade mine to find that it was not as the engineer stated in his report of the initial sale to the company. White halted sale of stock and refunded several of the large stock purchasers. He returned his $3 million worth of stock to the company to lower the indebtedness. In 1920, the mine caved in to the 1000 foot level. The company spent all its cash attempting to repair the mine. In 1925, an engineer was sent to inspect the mine on behalf of the company who found that things were not as they were said to be. This engineer promptly shut the mine down. With no cash reserves, the company entered receivership in Costa Rica. In the final report to the stockholders, in 1926, White gave a lengthy apology and his sadness at failing to make the mine a go.

Certificate: Capital Stock, issued in the early 1900’s

Printer: L. H. Biglow & Co., New York

Dimensions: 8” (h) x 11 1/2” (w)

State: ME-Maine

Subject Matter: Mining and Related | Mining-Maine

Vignette Topic(s): None

Condition: Vertical fold lines, no cancels, toning and edge faults from age.

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