Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1888-09-07
AN ISLAND FULL OF GOLD.
THE ROMANCE OF THE TREAD
WELL MINE IN ALASKA
Enough Metal to Pay the National
Debt-ROck that Will Require
LIZ to, h

time In the last year that Alaska mas the
richest gold mine in the world, but peo-
pie who heard fragments of the story
simply shrugged their shoulders and
paid no further attention to the subject.
Investors in mining property have been
fleeced so often that every enterprise for
getting the precious metals out of the
earth bears to their eyes the marks of
swindle. And then barring the beauti
full fur seaD they think there is nothing
in that far off country but Thlinkeis,
Hydahs, Chilkats, muskrats, icebergs,
glaciers, and other understandable
articles. Only few Of the more favored
tourists who have been let into some of
the secrets of the small clique owning
the property appreciate 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 content to quietly dig out 100
per cent. a month in this dark corner of
the earth. Modest fellows they are.
On the west side of the Gastineau
Channel, within pistol shot of the main
land and under the shadow of precipi-
tous mountains, is Douglass Island. Just
back from the shore, in cliff from 500
to 1000 feet high, is a horizontal shaft
400 feet wide and many hundred feet
long. At intervals along the top of the
cliff are perpendicular shafts. This is
the Treadwell Mine. 1t is said that
some rock has been taken out which
iorb h1,f hot
Is exceptional. The statement of one in
telligent man is that the average is 50
per ton, and that it costs 81. so per ton
to convert the raw material into gold
bars, and that 300 tons of rock can be
reduced per day. These figures being
correct, the net product of the mine is
$67j, 600 a year, allowing only 500
working days. Another authority es-
timated that the output for the year
1887 would be 800, 900 per month, or
81 200, 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 is Just the same
1t sounds extravagant, but experts who
have made careful investigation declare
that there is unquestionably enough
gold in the mine to pay the national
debt about $1,000, 000,O O0) and that
there are many million dollars worth of
pay rock in sight. The confidence of
the owners of the property 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
a bid of SIG, 600, 900 which was made
for the property some months ago.
The mine was named for it's discOverer.
Treadwell was an old Californian Of long
experience in mining. He was one of a
that there are valuable mineral deposits
somewhere in Alaska, went there pros
pecting. The natives, a good natured
lot, are always on hand to take tourists
and explorers along the coast almost any
distance. Many old miners are con-
stantly testing the rocks with hammer
and glass. They have located deposits
of gold, silver, copper, iron and other
metals, but it was reserved for Treadweu
to find this mass of gold bearing rock.
1t is said that when he first visited it there
was a vein of gold running conspicuously
up and down the face of the cliff. After
satisfying himself that it was worthy of
further tests, he went to California,
III oOHlC duA lACh IT,
turned. 1t required but little work with
this machinery to excite his cupidity to
the highest pitch. Having secured his
rights in the claim, he went to San Fran
cisco with some specimens of the ore.
Senator Jones, of Nevada, was at that
time in bad luck, and poor. 1t was his
opportunity. He went up to Alaska
and was convinced that another fortune
awaited him if he could get control of
the Treadwell Mine. He formed a syndi-
cate and was given quarter interest In
the profits of the mine as a considera-
tion. Treadwell. it is said, received
$1,000, 600 in cash and small percent
age of the profits. The stock of the
company is now owned mainly by four
persons, of whom Jones and d. 0.
Mills are two. The mine employs natives,
and COrnishmen, and laborers, paying
them 81. 80 per day and upward, and
has already become quite a center of
miscellaneous business.
With California losing its prestige as
gOld-producing country, Australia dis
appointing its friends, and other parts
of the earth failing to meet expectations,
the students of finance are looking about
the world for a new source of supply.
Perhaps Alaska will fulfill the require.
ments. Burmah mysterious country,
of which Americans know even less than
of their own Alaska. is said to have
i