I was back in Nevada just a week when a stampede into a new mining camp called Wonder took place. I was quick to join in the rush. The Philadelphia crowd who owned control of the big Tonopah mine had annexed a property there which they named the Nevada Wonder. It boasted of a big tonnage of low-grade silver-gold ore.
On arrival at Wonder, I found my former Goldfield partner, L. M. Sullivan, on the ground. He entreated me to allow him to cut in on any deal I made. A bargain was struck. He agreed to advance all the money and I was to receive half of the profits for my work. The corporation of Sullivan & Rice was formed. We purchased the Rich Gulch group of claims, a likely piece of ground with a well defined ledge, and incorporated the Rich Gulch Wonder Mining Company. A company with the usual million-share capitalization was formed to operate the property. A high-class directorate was secured. T. F. Dunnaway, vice-president and general manager of the Nevada, California & Oregon Railroad, accepted the presidency. Hon. John Sparks, Governor of Nevada, became first vice-president. U. S. Webb, Attorney General of California, accepted the second vice-presidency. D. B. Boyd, for twenty-five years successively Treasurer of Washoe County, Nevada, was made treasurer.
The first advertised offering of treasury stock of the Rich Gulch Wonder carried the names of forty leading mining-stock brokers, situated in various cities stretching from New York to Honolulu, who had signified over their signatures their willingness to undertake the sale of treasury stock at 25 cents per share on a basis of 20 per cent. commission. The first thousand shares of treasury stock at 25 cents was sold to Superintendent McDaniel of the Nevada Wonder mine. This convinced us that we had a good "prospect."
I had my doubts about the successful promotion of any Nevada mining company at this period, because of the terrific slump which was transpiring in Goldfield issues and also because of the smack in the face that mining-stock investors had just received in Nipissing. It was my idea that if the Rich Gulch Wonder made any money for us the cashing would have to be delayed until mills were erected and the property became a producer. I was willing to go ahead on that basis.