The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1888-08-09
AN ISLAND FULL OF GOLD.

that VIII Require a Century to Exhaust.
1t was whispered from time to time in
the last year that Alaska has the richest
gold mine in the world, but people who
heard fragments of the story simply
shrugged their shoulders and paid no
further attention to the subject. Inves-
tors in mining property have been heeced
so often that every enterprise for getting
the precious metals out of the earth
bears to their eyes the marks of q swindle.
And then (barring the beautiful fur seaD
they think there is nothing in that far
off country but Thlinkets, Hydahs, Chill
kats, muskrats, icebergs, glaciers, and
other understandable articles. Only 9
few o. the more favored tourist who haYa
been let into some of the secrets Of the
small clique owning the property appre-
ciate the great wealth that is locked up
in the forbidding cliffs on the shore
about two hundred miles north of Sitka.
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 So generously
filtered. They have no mine for sale.
1t is the little fellows owning holes in
the ground which have been heavily
stocked who want to sell. They are con-
tent to quietly dig out 100 per cent. q
month in this dark corner of the earth.
Modest fellows they are.
On the west side of the Gastipeau
Channel, says the Chicago Tribune. with
in 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, ls
horizontal shaft 400 feet wide and many
hundred feet long. At intervals along
the top of the cliff are perpendicular
shafts. This is the TreadTeu Mine. It
is 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 average
is 50 per ton, that it costs Sl.50 per ton
to convert the raw material into gold bars,
and that 300 tons OF rock csn be reduced
per day. These figures being correct,
the net product of the mine is $675, ,OW
year, allowing only 800 working days.
Another authority estimated that the
output for the year 1887 would be $780,
600 per month, or $780, 900 per year,
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. 1t
sounds extrsvagant, but experts who
have made careful investigation declare
that there isunquestionably enough gold
in this mine to pay the national deEt
(sbout 81, 200, 600, ,0OU and that there are
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 in 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 SIG, ,O00,-
OO0 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 for its discoverer.
Treadwel was an old Californian of long
experience in mining. He was one of
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
the rocks with hammer and glass. They
have located deposits of gold, silver, cop.
per, iron and other metals, but it WAS
reserved for Treadwell to ind this ,nass
Of gold-bearing rock. It is said that
when he first visited it there was vein
Of gold running conspicuously up and
down the face OF the cliff. After satis-
Tying himself that it was worthy of fur
tner tests, he went to California, bought
some machinery, and then returned. It
required but little work with this machine
ry to excite his cupidity to the highest
pitch. Having secured his rights in the
claim, he went to San Francisco with
some specimens of the ore. Senator
Jones OF Nevada was at that time II bad
luck and poor. 1t was his opportunity.
He went up to Alaska and was convinced
that another fortune was his if he could
get control OF the Treadwel Mine. He
formed syndicate and was given quar-
ter interest III the profits of the mine as
consideration. Tread9ell, it is said, re-
ceiyed 81, 100000 in cash and a small
percentage of the profits. rhe stock OF
the company is now owned mainly by
four persons, Of whom Jones and u. 0.
Mills are two. Some wealthy Chicago
men, includingC. B. Farwell, 5. A. Kent
and President Blackstone of the Alton
road, have been allowed to examine the
property, but it is not believed that they
have any financial interestinit. The mine
employs natives and Cornishmen as
laborers, paying them s., so per day and
upward, and has already become quite a
center of miscellaneous business.
With California losing its prestige as 3
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 for new sourse of supply.
Perhaps Alaska will fulfill the require
ments. Burnah, 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-
tion OF which nobody but fow persons
connected with the Government know
anything, but developments cannot be
expected there for many years. Mean
while Alaska will come to the front. At
all events, people who have seen the
Treadwell like to remark: alaska was
certainly worth the s., 100000 Seward
paid for it twenty years ago."