The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1897-07-20
NOT OF ONE MIND
Authorities Differ as to the Value
of the Alaskan Gold Dis
coveries.
Some of the Opinion That the
Output VIII Influence the
Market,
While Others Do Not Believe the
Placers Will Hold Out
Long.

NEW YORK, July 2O.-The World
says: Daniel Guggenheim Of the firm
of NJ. Guggenheim Il 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.
"For some time my firm has had ex-
pert mining engineers at work in
Alaska," he said, "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 will be
enhanced in value. This regard as
certain"
Mr.. Guggenheim declined to give in
| detail the reasons for his faith in higher
value for silver.
Very Different Opinion.
There are we'll informed men who
look upon the reported discoveries as
exaggerated. One of these is F. Hobart,
associate editor of The Engineering and
Mining Journal.
| "Yes, l 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 roseate announce
ment that the Yukon runs over bed Of
virgin gold.
"As matter of fact, some persons
have struck fairly rish placers in the
Yukon district, but the large majority
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 a fragment.
Of course, the placers, fed with gold
presumably washed out and worn out
during ages from the mountains, indi.
cate the existence of rich quartz depos.
it's. Along the coast, conditions are
different. There we have the quartz
mines of Douglas island, Bernois, Pay
and Sumdcla, all rich, and one-the
Alaska Treadwell-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, but only at few
points have the placers paid well. Now
comes this story that the waters Of the
Clondyke country run with mingled
water and gold dust. 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
r boom stories. About two years age
hundreds of venturers, some miners
drawn to the Yukon by false reports OF
} its wealth, We're quietly brought home
, free of charge by the transportation
companies.
Hartlships Are Plenty.
. "But even if the Yukon fields prove
to be peculiarly rich, it will mean ittl
to the world. Only the hardest ant
most experienced miners could hope t,
: prosper in that desolate land. Fo
eight months of each year no work Cal
!. be done. The long winter is of Arctic
: like severity. Into four months tn
!, miner must crowd a years work. Thos
|. who rush to the Yukon country viii
$ court hardships of which they do no
;. dream. If they start now they vii
n barely reach Alaska before winter set
O in. Without money, and plenty of il
d their position would be terrible.
n "Winter there means no work, costl
r provisions and a life destroying climate.