On May 26, 1886, the Grand Central hoist and pumping plant burned. The fire was so intense that the metal components of the Cornish engine melted and warped. The headworks of the main mine shaft were also destroyed. Shortly afterward, the price of silver slid to 90 cents an ounce. The mines that remained operational laid off workers. Individuals who had thought about leaving Tombstone when the mine flooding started now took action. The price of silver briefly recovered for a while and a few mines began producing again, but never at the level reached in the early 1880s
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