The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1898-10-14
TO DEVELOP ALASKA.
NEARLY $780, 600, 900 WILL BE INVEST
ED BY NEW YORK CAPITALISTS.

Many Wealthy Persons Are Interested In
Commercial Development Of Klondike
Region-Railway to BE Built to Make
Quick Connection to the Yukon.
1t is thought to be u conservative es-
simate that within the next five or six
months from $50, 600, 900 to $50, 900, 900
will be invested by capitalists who are
In New York or who are associated
with New York interests in the com-
mercial development Of Alaska. It is
Of course impossible to get at anything
like Ill accurate or even an approx
mately correct calculation of the amount
Of capital which will be thus invested.
The figures just given are only a con-
sentative guess made by those who have
perhaps the best information upon the
plans which are now being rapidly COM
pleted for the organization Of various
railway, steamship, trading and other
incidental enterprises, all aiming to Sc
cure some part of the great commerce
and business which are certain to be de-
veloped at once and to be maintained
throughout the year.
Probably the most important Of the
enterprises is that with which John w.
Mackay, Mr.. Letter Of Chicago, D. o.
Mills and the RothschildS are associated
and of which Mr.. H. Maitland Kersey
is to be the executive head. The capital
which this syndicate has nominally
subscribed is comparatively a small
sum. 1t is reported to be 81, 900, 600,
but that is only a small part Of the
money which will probably be invested
by this syndicate in its various opera
tions. 1t may undertake the manage
ment Of several distinct corporations.
1t will undoubtedly establish a steam
ship line extending from Seattle to one
Of the Alaskan ports. 1t is also the pur-
pose Of the syndicate to build u railway
which will make the quickest connec
ton between tide water and the Yukon
district, but exactly where that railway
will be constructed is q matter of some
doubt, probably doubtful even to this
syndicate itself. The syndicate is said
by those who know something Of its
plans to purpose engaging also in gen
eral trade. but its chief object is the
exploration of certain districts in which
its prospectors have discovered every
evidence of large deposits of gold. and
when the mines have been located the
syndicate proposes to work them.
Mr.. Mackay, it is known, looks with
the greatest enthusiasm and confidence
upon the future of this enterprise and is
reported by friends in New York to
have said that he has every reason to
believe that the syndicate will find it.
self in possession Of mines which will
rival and perhaps exceed the richness of
the big Bonanza.
But this is only one of the enterprises.
Another company in which Mr.. Depew
is interested and in whose future he
seems to have much confidence proposes
to establish a steamship line and in ad.
dition to develop certain mining claims
already owned by the company as we'll
as to engage in a general commercial
business. Recently four steamships hith-
erto running upon one Of the European
lines have been purchased by another
company whose headquarters are in
New York and will be sent as soon as
possible TO Seattle, the expectation be-
before the LIST of June.
Word comes from Canada that a COM
pany which has been organized for the
purpose Of building q railway through
a part of British North America to the
Yukon has SO far progressed in its plans
that the first group of laborers will be
put at work before the end Of February,
and the company expects as soon as the
surveys are completed to have 5000
men at work so that the road may be
completed before tho hot Alaskan sum.
mer begins.
There is q good deal Of New York
capital in this enterprise, although the
company is organized under a Canadian
charter. 1t expects to build its railroad
$50 miles long and at the rate Of q
mile a day, and if it accomplishes it in
that desolate arctic region it will have
achieved something unparalleled in rail.
road construction. Those who are inter
ested in this project write to their
friends here that they have every reason
to believe that there will be an immi.
grafton from the United States, from
Canada and from Europe into the Alas.
kan region greater than any that in the
past has been caused by reports Of rich
discoveries Of gold anywhere in the
world. The lowest estimate is that
200, 600 people will 90 from comforta.
bic homes in temperate climates into
that wilderness during the spring and
summer. To feed, clothe and house these
people will alone develop a very great
business. - Holland in Philadelphia
Press.