The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-05-18
EXPLOITING OF CAPE NOME.
Golden Sands Offer Fruitful Field
for Eastern Swindlers.
New York Evening Sun.


A gold-mlnlng Doom Always mas .Wo
enus; one at the hgsihss anu lle other
IN New YORK Win branches at 'hicaso'
Boston ana Phliadelphla' me rlchesl looeS
are in the great cities or the United states,
that is to say IN the banks where economy
and thrift deposit their savings. II is an
easy field for sharpers to work: an I'M
pressive name-for instance, the Arctic
Gold Exploration and Trading Company,
the Saskatchewan Mining and investment
Company, or the Athabasca Gold Mining
and Development Company-some broken
down politicians as directors, richly car
pented offices reached by shooting eleva-
tor, and big package of graudily engrav-
ed snare certificates are the only tools
needed. 1t isn't necessary for the coin
pany to own placer or tin pan. Its vic
Tins have no means of investigating the
allurng claims of the prospectus and Sucn
fabulous profits promised that 1t seems
like meanness to question the company's
territorial rights and It's inexhaustible re-
sources. man who is to get $50 per cent
for his money ought not to be too curious.
In fact. when he considers that Tie COM
pany has a paid-up capital of S5OOOvo. how
can he doubt that IL is enlargement of the
heart that promptsi the directors to snare
their good luck with others? When the
average man buys a lawn mower. c. a silk
hat. or a fountain-pen, he demands value
Offer him a fortune, while he waits, in the
gold and black certificates of a company
that is developing a mine in Alaska, proba
bly, a myth. and he takes an the living on
trust Promoters have learned that there
Is no limit to the credulity of some neople.
the greater the promise of lncre the 1uick
er the investment and the less risl. the
rascal runs of exposure To tarn mo
searchlight on his operations is like look
ing a gift horse in the mouth untiI tho
victim realizes he has been plucked. ana
then the plucker is gone.
The Klondike has been exhibited and
turned inside out Some reputable con.
Germs are earning dividends there stili
but the sharpers have squeezed the golden
orange dry. The Evening Sun took oc-
casion a day or two since to look IN some
OF the mining. exploration and develop-
ment companies that were organized i'm
New York three years ago to unlock the
wealth Of the Klondike, for the benefit of
the small investor whose name in legion
and who boards his savings for the on
portunity TO get rich in a day. There was
not "a trace OF him To be found-direotors
had disappeared, If they could ever have
been found; the handsomely appointed Of
uces in the sky-scrapers downtown were
occupied by less pretentIous tenants. and
tho names Of the Companieg had been
taken off the marble directories at the
entrance. Janitors. when asked for the
address OF vanished concern. TESTED at
the idea Of anyone finding IT, unless lie
sought it IN the Arctic circle. Yet these
enterprises only three. yes two. short
years ago. We're buying up all the aurif-
erQus territory from the Fraser to the
Yukon, starting lines OF steamships and
opening supply stores. and enormous
profits were offered to the public If II
.H4 Ns.a F.g Fv.