New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1897-07-21
Authorities Differ as to the Value
Of the Alaskn Gold Dis
coveries.
Some Of the Opinion That the
Output Will Influence the
Market,
While Others Do Not Believe the
Placers Will Hold Out
Long.

New YORK, July 20.-The World
says: Daniel Guggenheim Of the firm
of u. Guggenheim s. Sons, who has
large smelling interests, when seen at
his Long Branch cottage, confirmed the
reported discoveries in the Yukon
country, and prophesied that the new
fields wonld yield far in excess Of even
present roseate Indications.
''tFor some time my firm has had ex-
pert mining engineers at work in
Alaska, y he said, s@and their reports
leave no doubt that the Yukon gold
fields will prove the richest in the world.
My opinion is that as soon as the coun-
try has been opened up, and shipping
facilities furnished the output Of gold
will be simply enormous. AS the pro-
duction of gold increases, silver win be
enhanced in value This I regard as
certain
Mr.. Guggenheim declined to give in
detail the reasons for his faith in higher
value for silver -.~ ~ rz.r, u.
Very Different Opinion. a.
There are well informed men who
look upon the reported discoveries as
exaggerated One of these is F.. Hobart,
associate editor of The Engineering and
Mining Journal. . !.
Eyes, I have read these stories, he
said, '*but, to be frank, do not credit
them. Our information, which is de-
tailed and positive, makes it impossible
for me to accept the sHoseate announce
ment that the Yukon runs over a bed of
virgin gold. ~
GAS a matter of fact, some persons
| have struck fairly Eich placers in the
Yukon district, but the large majomty
of gold seekers in that barren country
have been stranded. There is only a
placer yield'on record for this section. No
quartz has been found-not fragment.
OF course, the placers, fed with gold
presumably washed ont and worn out
| during ages from the mountains, indi-
cate the existence of rich quartz depos-
its. Along the coast, conditions are
different. There we have the quartz
mines Of Douglas island, Bernois, Pay
and Sumdela, all rich, and one-the
Alaska Treadwel- ranking as the >larg-
| est in the world. ~. =. %
Reports Not .Roseate. -., =
"Our latest advices from the Yukon
country are far from roseate. Miners
have been arriving in numbers all
through the spring, hut only at few
points have the qlacers paid well. Now
comes this story that the waters of the
Clondyke country run with mingled
water and gold dRst. Icannot credit it.
We have heard direct from the Clon-
dyke mines and know that some of them
have been fairly successful but cannot
say positively who are behind these
boom stories. About two years ago
hundreds Of venturers, some miners.
drawn to the Yukon by false reports of
its wealth, were quietly brought home
free of charge by the transportation
companies. -.,.. =
Hardships Aae Plenty.
"Hut even il the Yukon fields prove
to be peculiarly rich, it will mean little
to the world. Only the hardest and
most experienced miners could hope to
prosper in that desolate land. For
eight months of each year no work can
be done. The long winter is Of Arctic
like severity. Into four months the
miner must crowd a years work. Those
who rush to the Yukon country will
court hardships Of which they do not
dream. If they start ROW they will
barely reach Alaska before winter sets
in. Without money, and plenty of it,
their position would be terrible
winter there means no work, costly
provisions and life destroying climate
AN OPINION BY ALLISON. a.