Immediately on taking over the control of Stray Dog and Indian Camp the
trust company purchased treasury stock in each of these companies, and
put a large force of men to work to open up the properties. Within
thirty days of the incorporation of the trust company Gold Hill in
Manhattan, on which were located the Stray Dog, Jumping Jack and Indian
Camp, swarmed with miners. The orders given to Engineer "Jack" Campbell
were to put a man to work wherever he could employ one, and to be
unsparing in expense so long as he could obtain results. Towering
gallows-frames and 25-horse-power gasoline engines were installed and
other necessary mining equipment ordered shipped to the properties.
Blacksmith shops, bunk-houses and storehouses were erected on the
ground. Day and night shifts of miners were employed. In order to
guarantee the constant presence on the properties of the engineer in
charge, the Sullivan Trust Company built for the engineer's use a
$6,000 dwelling house on Indian Camp ground.
Having convinced the natives that we were in dead earnest about our
mine-making intentions, we busied ourselves offering Stray Dog stock
for subscription at 45 cents per share. It was well known around the
camp that we had paid 45 cents per share for one block of 350,000
shares, and mining-camp followers were among the first to subscribe for
the stock. Then an effort was made to dispose of quantities of it to
the Eastern public by advertising and through mining-stock brokers.
That advertising campaign was approached with considerable caution. In
the first place, the subscription price of Stray Dog, 45 cents, was 80
per cent. higher than that of any other advertised promotion which had
yet been made from either the Goldfield or Manhattan camps; and in the
second place, the conduct of a mining-stock promotion campaign by a
Trust company appeared to me to justify more than ordinary care. There
were other factors that entered for the first time in Goldfield, too.
The initial successes of the big display advertising campaigns directed
from Goldfield appeared to have been due to the fact that the American
public had greeted mining-stock speculation as filling a long-felt
want, namely, a channel for speculation in which they could indulge
their gambling spirit with comparatively limited resources--resources
that were insufficient to give them a "look-in" on the big exchanges
where the high-priced rails and industrials are traded in.
ADVERTISING FOR THINKERS
Having "tried on the dog" my methods of advertising for nearly two
years, that is to say, having conducted an advertising agency for mine
promoters, and learned the business with their money, I had passed
through the experimental stage and now marshalled a cardinal principal
or two that I decided must guide me in the operations in which I had
become more directly interested.
Public-domain text, read in full here on John Shaqi.
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