The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-11-12
THE STAMPEDE FOR GOLD.
The East IL AAame With the Gold
Crase-Countless Companies Be-
tng Formed for Alaskan Trans
portatfon and Development.

J. o. Hes,wood. the wesl-known Seattle
kIondiker. is back from a ninety days
trip through the East. Mr.. Hestwood has
done considerable travelling in the last
three years. He came back from the
klondtke on the Excelsior last July, nav-
ing during his three years residence in
the land of gold travelled three times back
and forth between Seattle and the Kion-
dixie. After spending three weeks here.
ne Sc. out for the East. 20 post the people
there on Alaska and the kiondike. and
incidentally to transact a few business
matters Of his own.
In the East Mr.. Hestwood learned a
great many things. He says that loo.0J
people at the lowest estimate viii pass
through Seattle next year on their way
ito the klondike." Seattle Is the only
Pacific coast city known m the East with
reference TO the development OF the gold
fields of Alaska Other places on the map
have been obiiterated In the minds OF
eastern people
II do not believe that people In Seattle
realize the extent and depth OF the inter-
est i'm the large centers of population in
the East regarding the Klondike." said
Mr.. Hestwood. Men Of affairs are
watching eagerly every stage in the de-
velopment OF the country. the organiza-
ton of transportation companies and the
opening of lines OF traffic and commerce.
Companies arc being formed constantly To
deal either in Alaska mines or TO engage
in traffic and trading. And In addition TO
this, countless hundreds of men and
women are banding themselves together
TO go to the Northern Eldorado mex; year
Why in Chicago one company comprising
800 women have banded themselves to-
gether for the purpose OF organizing an
expedition to Alaska. They hope to
reach the klondike early and to begin
digging out gold soon as possible"
In the three months that Mr.. Hestwood
spent in the East he visited New York.
Philadelphia, Boston and other large
cities. He carefully acquired from the
most reliable sources information concern
ing the number of people likely to come
West during the next season. From what
he learned in this regard, Mr.. Hestwood
formed the belief that not only would The
steamship Ires leaving Seattle for Alaska
be taxed to their greatest carrying ca
pacity with north-bound gold hunters. but
even the railroad lines across the conti-
nent will scarcely be able TO accommodate
the travellers.
Railroads VIII he Rushed.
II seriously question the ability of the
railroads TO cope with the rush of people
West next year." Mr.. Hestwood said.
thoughtfuIly. When the first steamer
comes down from the Yukon next spring
with 100 tons OF gold (Mr. Hestwood talks
OF gold only in denominations of tons),
there will be such migration of people
West and North as this country never saw.
While I was In the East was In posi-
ton to learn accurately something of the
immense movement of men and women to-
ward the gold fields, that has begun even
now. For example, In Chicago. / was in
vi;ed numbers OF times to lecture before
men who had organized expeditions num-
bering from 800 to 400 each
Interest in the Kiondike and Alaska
gold discoveries Is not confined 10 any
particular class OF people. Men In all ayo-
cations OF life are gathering knowledge
or the country and are either engaging in
schemes to develop the country or are
actively preparing to leave for the mines
early next season. During my stay In
New York and Philadelphia / came In
contact with many men of money whose
energies and wealth are engaged in ali
kinds OF business enterprises, yet 10 none
of them was the klondike an unknown
thing. and all Were willing to consider
good business proposition In klondike
mines. 1t was conceded by men of affairs
everywhere that the next great movement
OF people would be In the direction of
Alaska, and that in the development of
that empire of riches the brains and en-
ergy OF the young generation and olsen
gagged capital in large quantities are 10
be occupied.
Among financial men the opinion is
current that the finding Of large quantities
of virgin gold in the streams of the Klon-
dixie. and the consequent impetus given
to mining in Alaska and the Northwest
territory, has had a marked and bene-
fetal effect on business conditions through
out the country. They believe-at least
do those with whom / have talked-that
the development of the mines OF that coun-
try and the movement OF people thither,
together with the injection of large guam
titles Of idle capital in industries more
or less dependent on Alaskan develop
ment. are some of the causes OF the re-
turn OF prosperity. II is held by men of
good financial sense that the enormous
gold deposits found in the north has set
tied the silver question for all time to
come"
While in Philadelphia Mr.. Hestwood, to-
gether with a number of the most notable
capitalists of the City of Brotheriy Love.
organized the Reliance Mining and Trad
Ing Company, OF Alaska This company
will operate the claims belonging to Mr..
Hestwood and his partner. j. II. Rhoades.
There are three claims owned by the
company. Nos. q and q above discovery
and No. So below on Bonanza creek On
No. 60 Mr.. Hestwood worked force OF
men last winter. and the claim yielded
way in the thousands. Out OF No q Mr.
Rhoades took over so 600 in few weeks.
john L. Welch, a well known banker Of
Philadelphia. Is president OF the company,
and Mr.. Hestwood is general manager.