Acquiring a fortune, Nadeau built the first three-story building in Los Angeles and the Nadeau Hotel, long the city's finest, retained favor among many wealthy pioneer patrons long after the more glamorous Angelus and Alexandria were built in the early 1900's.
The first ore from the Panamint mines was shipped to England and because of its richness showed a profit, but difficulties arose in recovery processes which they did not know how to overcome. The mines would have paid fabulously under present day processes.
Finis was written to the story of Panamint after two hectic years and in 1877 Jones and Stewart had lost $2,000,000 and quit. It would be more factual to state that since they had received from the public $2,000,000 to put into it, who lost what is a guess.
Chapter XXIV Indian George. Legend of the Panamint
The previous chapter records accepted history of the silver discovery at Panamint City. Indian George Hansen had another version which he told me at his ranch 11 miles north of Ballarat. It fits the period and the people then in the country.
George, when a youngster lived in the Coso Range. East of the Coso there was no white man for 100 miles and renegades fleeing from their crimes and deserters from the Union army sought hideouts in the Panamint. Thus George was employed as a guide by three outlaws to lead them to safe refuge.
George, a Shoshone, had both friends and relatives among the Shoshones and the Piutes and took the bandits into Surprise Canyon where a camp for the night was chosen. While staking out his pack animals, George discovered a ledge of silver ore. Breaking off a chunk, he stuck it into his pocket, saying nothing about it until they were out of the locality. Then he showed the specimen and to promote a deal, gave one of them a sample. They wanted to see the ledge but George refused to disclose it. Then George said the three fellows stepped aside and after talking in whispers told him they didn't like the country and returning with him to the Coso Range, went on their way. Two or three months later they were back to bargain.
George had traded with the white man before. They had always given him a few dollars and a rosy promise. "Now me pretty foxy. So I say, 'no want money. Maybe lose.' Him say, 'what hell you want?'