Rhyolite declined almost as rapidly as it rose . After the richest ore was exhausted , production fell . The 1906 San Francisco earthquake and the financial panic of 1907 made it more difficult to raise development capital . In 1908 , investors in the Montgomery Shoshone Mine , concerned that it was overvalued , ordered an independent study . When the study 's findings proved unfavorable , the company 's stock value crashed , further restricting funding . By the end of 1910 , the mine was operating at a loss , and it closed in 1911 . By this time , many out-of-work miners had moved elsewhere , and Rhyolite 's population dropped well below 1,000 . By 1920 , it was close to zero
1906 San Francisco earthquake
1906 San Francisco earthquake
Rhyolite, Nevada