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William Sharon
William Tang Sharon (January 9, 1821 – November 13, 1885) was a United States senator, banker, and business owner from Nevada who profited from the Comstock Lode.
Sharon was born in Smithfield, Ohio, January 9, 1821, the son of William Sharon and Susan Kirk. He attended Ohio University. After studying law in St. Louis, Missouri, he was admitted to the bar. In addition to practicing law, he engaged in mercantile pursuits in Carrollton, Illinois.
Sharon moved to California in 1849, accompanied by his friend John Douglas Fry (July 1, 1819 – February 3, 1901). Sharon and Fry engaged in business together for a short time in Sacramento. Sharon then moved to San Francisco in 1850, where he dealt in real estate. In 1852, he married Maria Malloy (Quebec, 1832 – San Francisco, May 14, 1875). He moved to Virginia City, Nevada in 1864 as manager of the branch of the Bank of California and became interested in silver mining.
Sharon was a business partner of Darius Mills and William Ralston, as well as the Nevada agent for the Bank of California. The bank profited greatly from loaning money to mining and milling operations and then foreclosing on those operations when the owners defaulted. The Bank of California owned mines as well as reduction mills, which Sharon controlled. In his efforts to monopolize the Comstock mining region, Sharon directed mined ore be sent to this mill or that, and effectively "starved out" competition—i.e., those who had come to the bank for loans. The bank also built and owned the Virginia and Truckee Railroad.
William Sharon acquired many of Ralston's assets in 1875 when Ralston's financial empire collapsed and he died. He was thought by some of his contemporaries to have actually aided the collapse. He certainly was the main beneficiary of Ralston's assets. Those assets included the Palace Hotel in San Francisco and Ralston Hall in Belmont, California.
His daughter Clara married Francis G. Newlands, who became a Congressman and Senator from Nevada. He was also the father of Florence Emily Sharon, who married Sir Thomas George Fermor-Hesketh, 7th Baronet. His son, Frederick, married Louise (née Tevis) Breckinridge, the daughter of banker Lloyd Tevis and divorced wife of John Witherspoon Breckinridge (a son of former Vice President John C. Breckinridge).
He was elected as a Republican to the United States Senate from Nevada and served from March 4, 1875, to March 3, 1881. He served as the chairman of the Committee on Mines and Mining in the 45th United States Congress.
Sharon spent the majority of his term in office living in California, missing more than 90% of votes.
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William Sharon
William Tang Sharon (January 9, 1821 – November 13, 1885) was a United States senator, banker, and business owner from Nevada who profited from the Comstock Lode.
Sharon was born in Smithfield, Ohio, January 9, 1821, the son of William Sharon and Susan Kirk. He attended Ohio University. After studying law in St. Louis, Missouri, he was admitted to the bar. In addition to practicing law, he engaged in mercantile pursuits in Carrollton, Illinois.
Sharon moved to California in 1849, accompanied by his friend John Douglas Fry (July 1, 1819 – February 3, 1901). Sharon and Fry engaged in business together for a short time in Sacramento. Sharon then moved to San Francisco in 1850, where he dealt in real estate. In 1852, he married Maria Malloy (Quebec, 1832 – San Francisco, May 14, 1875). He moved to Virginia City, Nevada in 1864 as manager of the branch of the Bank of California and became interested in silver mining.
Sharon was a business partner of Darius Mills and William Ralston, as well as the Nevada agent for the Bank of California. The bank profited greatly from loaning money to mining and milling operations and then foreclosing on those operations when the owners defaulted. The Bank of California owned mines as well as reduction mills, which Sharon controlled. In his efforts to monopolize the Comstock mining region, Sharon directed mined ore be sent to this mill or that, and effectively "starved out" competition—i.e., those who had come to the bank for loans. The bank also built and owned the Virginia and Truckee Railroad.
William Sharon acquired many of Ralston's assets in 1875 when Ralston's financial empire collapsed and he died. He was thought by some of his contemporaries to have actually aided the collapse. He certainly was the main beneficiary of Ralston's assets. Those assets included the Palace Hotel in San Francisco and Ralston Hall in Belmont, California.
His daughter Clara married Francis G. Newlands, who became a Congressman and Senator from Nevada. He was also the father of Florence Emily Sharon, who married Sir Thomas George Fermor-Hesketh, 7th Baronet. His son, Frederick, married Louise (née Tevis) Breckinridge, the daughter of banker Lloyd Tevis and divorced wife of John Witherspoon Breckinridge (a son of former Vice President John C. Breckinridge).
He was elected as a Republican to the United States Senate from Nevada and served from March 4, 1875, to March 3, 1881. He served as the chairman of the Committee on Mines and Mining in the 45th United States Congress.
Sharon spent the majority of his term in office living in California, missing more than 90% of votes.