The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1888-08-09
NO. A..
AN ISLAND FULL OF GOLD.

III" Nomahce or the FroadwoN Mine ia
Alaska--wt Contains Enough Of the
Metal to Pay the National Debt"--Rock
that VIII Require II Century to Exhaust.
1t was whispered from time to time in
the last year that Alaska has the richest
gold mine i'll the world, but people who
heard fragments Of the story simply
shrugged their shoulders and paid no
iurther attention to the subject. Inves-
tors in mining property have been Heeced
30 often that every enterprise for getting
The precious metals out of the earth
bears to their eyes the marks of swindle,
And then (bsrring the beautiful fur seall
they think there is nothing in that far
OIL country but Thlinkets, Hydahs, Chil-
kats, muskrats, icebergs, glaciers, and
other understandable articles, Only q
few o! the more favored tourist who hsya
been let into some Of the secrets of the
small clique owning the property sppre-
clate the great wealth that is looked up
III the forbidding cliffs on the shore
about two hundred miles north of Sitks,
1t Is no concern of the insiders to have
the world know that they own millions
OF tons of rock into which long ages ago
the precious metal was 80 generously
inferred. They have no mine for sale.
it Is the little fellows owning holes in
stocked who want to sell. They are con-
tent to quietly dig out 100 per cent. a
month i'll this dark corner OF the earth.
Modest fellows they are.
On the west side of the Gastineau
Channel, says the Chicago Tribune. with
III pistol shot OF the mainland and under
the shadow of preceptous mountains, is
Douglas Island. just back from the
shore, In cliff 800 to 1000 feet high. ia
horizontal shaft 400 feet wide and many
hundred feet long AT intervals along
the top OF the oliff arc perpendicular
shafts. This is the Treadwell Mine. 1t
ls SAID that some rock has been taken
out which yields as high as 5000 per ton,
but that Is exceptional. The statement
OF one Intelligent man is that the averaps
Is ~ per ton, that it costs so per ton
10 convert the raw material into gold bars,
and that 800 tons OF rock can be reduced
per day. These figures being correct,
the net product of the mine is $675, ,OoI
year, allowing only 800 working DAYS.
Another authority estimated that the
output for the year 1887 would be $780,
600 per month. or $1,000, ,OOO per wear,
and the yield this year certainly cannot
be less. Diamond drills have been run
long distances in various directions and
SHOW no change in the character of the
rock or the ore. A thousand feet below
the level of the earth it's just the same. It
sounds extravagant, but experts who
have made careful Investigation declare
that there isunquestionably enough gold
III tins mine to pay the national debt
(about 81 ,2OO, ,OO0, ,OO0) and that there ara
many million dollars worth of pay rock
IN sight. The confidence of the owners
OF the propety is shown by the fact that
they have III operation more stamps than
there are in any other mill in the world,
The appreciation of the mine by other
people is indicated by bid of $4,000
ooo which was made for the properly
some months ago. This is case, how
ever when the insiders don't want to get
out and the outsiders cannot get in.
The mine was named FORTS discoverer.
Ireadwell was an old Californian of long
experience in mining He was one of u
great number OF people who, knowing
that there are valuable mineral deposits.
IN Alaska, went there prospecting. The
natives, good -natured lot, are always
ON hand to take tourists and explorers
along the coast almost any distance.
MANY Old miners are constantly testing
tho'rocks with hammor and glass. They
nave located deposits OF gold, silver, cop
per, iron and other metals, but it was
| reserved for Treadwell to find this mass
OF gold-bearing rock. 1t Is said that
when he first visited it there was vein
OF gold running cOnspicuously up and
doWp the face OF the cliff After satis-
lying himself that it was worthy of fur
ther tFsts. he won't to California, bought
some Mlachinery, and then returned. 1t
requlre3 but little work with this machine.
ry to exSlte his cupidity to the highest
pitch. Having socnrod his rights in tho
claim, he went to San Francisco with
some specimens of the ORE Senator
Jones of Nevada was at that time in bad
luck and poor. 1t was his opportunity.
lie went up to Alaska and was convinced
That another fortune was his if he could
get control of the Treadwell Mime. He
formed syndicate and was given quar-
ter Interest in the profits of the mine as q
cohsideratlon. Treadwell, 1t is said, re-
ceiVed 81, 900, 0G0 in cash and small
percentage OF tho profits. The stock of
the company Is now owned mainly by
four persons, of whom Jones and ID, O.
Mills are two. Some wealthy Chicago
mon, including O. b. Farwell, s. A, Kent
and President Blackstone of the Alton
road, have been allowed to examine the
property, but 1T ~ not believed that they
| have any financial INTEREST," nit. The mine
| employs natives and COrnishmen ss
laborers, paying them 81. 80 per day and
upward, and has already become quite q
| center OF miscellaneous business.
with California losing its prestige as
gold producing country, Australia disap-
pointing its friends, and other parts OF
the earth failing to meet expectations,
the students OF finance are looking about
the world Tor q new sourse of supply.
Perhaps Alaska will fulfill the require
ments. Bnrmah, a mysterious country,
OF which Americans know even less than
OF their own Alaska, is said to have
enormous stores of gold ore, of the loca-
ton OF which nobody but a few persons
connected with the Government know
anything, but developments cannot ba
expected there for many years. Mean
while Alaska will come to the front. At
all events, people who have seen the
Treadwel like to remark: "Alaska was
certainly worth the $7,200,000 Seward
paid for it twenty years ago."