The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-08-05
KLONDlKE'S
BARNATO.
John Cudahy, Chicago's Mil
--IiOnaire Pork Packer,
Heads a Great Company Now
Being Formed.
CAPITAL S25,OOO,OOO.
To Dig Alaskan Gold on a Big
Scale.
The Gold Fields to Soon be Mo-
nOpOliZed.

Chicago, Aug. John Cudany Is at
The head of a Chicago corporation to be
capitalized al $25, 600, 900, which is going
10 own, develop and operate nearly all
the gold quartz mines in eastern Alas
ka which have been discovered up TO
this time.
The corporation will own mines whose
present value at the lowest estimate is
$5O.OOO, 600. The prospective value,
which can be known only when the
work of development is well III hand
may be several times $50, 600, 900.
The organ nization is an outgrowth of
the North American TransportatiOnand
Trading company, which was incOrpor-
ated five years ago under the laws OF
Illinois with a capital of $45O,OOO; 1t
had two features, the business of COM
mon carriers and the sale of merchan-
disc, and also prospecting for mineral
John Cudahy is the largest individual
StOckholder and is understood to own
Or control a majority of shares.
For five years the company has pros
pected the mountains of eastern Alas
ka for gold veins, employing the best
experts who could be induced under big
pay to go into that region. With ample
means at command, this prospecting
has been carried on systematically in
the high regions SIOpinS toward the
Klondike placers. While it has been
hinted that good veins were found, an
approximate statement of their value
is now made public for the first time.
The known richness of the placer dig
gings gives confirma ton to the prOba-
BILE enormous value of the veins behind
and above the placers.
'All l can tell you about the new
company is that it is now being or
ganized.' said one of the smaller stock
holders of the North American COM
pany yesterday. John Cudahy has
charge of that end and attends to all
the details himself. London and New
York syndicates have been after the
property time and again, but it will be
h NV
let in individual foreigners, The capi-
tai stock will be s25. .OO0. .OOO.''
ed?
How should I know? Ask Jack
Cudahy. He's got the facts and figures.
But do know that we have the cream.
Our experts put them down as worth
at the very lowest $50, 900 600.
1T is not reasonable to think that
we would continue to spend money for
five years unless we had found gold
OF course, we can't tell how deep down
these veins run. If. as We expect, the
1Odes go down thousand feet or more
and get richer at the lower levels, which
is probable. maybe we Will have to add
another cipher to the figures. With the
facts presented by the placers, no esti-
mate appears too Wild
Do you think you have struck the
Well, I'll tell you Everybody
thinks he's got the mother lode when
he strikes vein of gold in the noun
money to find out for certain. Flood
and Mackay and Fair and O'Brien
thought they had struck the mother
lode on the Bonanza in the ComstOck
but they didn't, though they managed
to clean up $25. .OOO. 900 apiece You
might mention that the Americanism
striking a bonanza was added to the
English language by the famous Ne
Vada mine. We have specimens of ore
which assay from $50 ton to--I guess
l had better not tell how much-ask
Cudahy.
When the mining company is or
ganized the present company will trans
fer to it our gold mining properties and
about 1000 acres of coal land for which
We hold patents.
The North American company will
continue the business of common car
rters and merchandising but ON a
much larger scale than heretofore We
will own and operate fleet of steamers
and barges on the Yukon river, and if
we can't charter for long time we will
buy ocean steamers to ply between Sc
attle and st. Michael's island. The
mining operations will be conducted en-
tiCely by the new company. These will
include the coal lands, which will be
turned over to that corporation
John Cudahy returned this week from
an outing at Mackinac He was found
busy in his office in the Rialto building
Il prefer TO say nothing for publicati
a this time he said. Il have Just got
back from my trip and I will not be
ready to say anything on the subject
Tor week, perhaps two weeks"