The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-04-12
Investors Are to Build Rail
roads, Smelters, Towns,
and Mine Gold.
TERRITORY INVADED
is RICH MANS CAMP
Valuable Coal Deposits Nearby
Depended to Furnish
Cheap Fuel.

| which during three generations In the
industry have grown to be among the
largest in the country, contemplate.
says the New York Times. the develop
ment of the Alaskan mineral fields on
scale larger than anything that has
been undertaken In the States.
The Times printed a dispatch from
| Tacoma. Wash. which told Of pur
chases by Guggenheim companies In
the Klondlke district. The properties
acquired. according TO the Tacoma dis
patch, covered practically all of the al
! luyial gold deposits in the famous Bo-
nanZa Creek district. where the first
| rich strikes of the early gold rush were
| made,
! Daniel GuRgenheim was asked by
| Times reporter to tell something OF his
plans for this. the first entrance OF Gus-
! genhelm capital into gold mining.
| Alaska, Mr.. Guggenheim said. would
become. he thought, the greatest min
| eral- producing part OF United States
! territory The reports Of competent en-
| gineers show immense copper districts.
and iron and coal are also plentiful
| The country's geographical situation,
| however, makes IT very difficult of de-
! velopment, and the mineral fields Will
require very heavy expenditures Of cap
ital for their development For this
reason. Mr., Guggenhcim said, Alaska
| Is rich mans camp.
Even In the gold fields the days are
past when miner with his pick and
washing pan could pick up a small for
tune.
After the forty-ninerS left the gold
bearing streams of California seeming
ly worked out" said Mr.. Guggenhelm,
modern apparatus was employed In
the same territory and took many times
more gold out of the country than that
which made the millionaires of the early
days.
The newest dredging and hydraulic
apparatus makes II possible to work at
profit graVels which yield no more
than cents TO the cubic yard. The
known fields of Alaska are I'm very
much the same condition in which the
forty-niners left California, The day
has now come for the steam dredge and
hydraulic operations requiring the In
Vestment OF millions OF capital In build
Ing reservoirs. canals and sluceways
Alaska has yielded more than 500, ,OOO,-
600 In gold under almost primitive
methods. With scientific development
the fields VIII give up many times that
amount"
The Guggenheim interests have sew
eral large dredges in course of corr
struction for use on the Alaskan water
ways The higher-lying gold fields Will
be worked by hydraulic monitor opera
tions, and plans are under way to de-
Velop the necessary water power, which
the Guggenheins already control on
Bonanza creek
The copper mining operations con-
templated by the Guggenheim interests
have not been formulated as yet with
sufficient definiteness TO admit Of discus
sion In detail
10
Guggenheim. "I should like to be one
OF those to bring it to It's destined place
In American affairs. 1t is not altogether
matter OF money; there is some senti-
ment in an enormous undertaking OF
this sort.
Railroads, Smelters, Towns.
I'VE want 10 go into the Territory
and build railroads and smelters and
mining towns and bring men there and
populate the country where 1t is habit
able, and do for IT what the earlier fig
ures In American railroad building did
for sections of the great West.
Some Of the copper districts OF Alas
ka have already been proSpected, and
sections. the Copper river for instance
have seen some developments. But the
mines in that country cannot be
worked until railroads have put them
within reach Of the seacoast and until
smelters and concentrating plants are
In the field TO turn the ore Into metal
for It's economical transportation to the
consumer.
IF the plans we have made tentative
ly for the building OF a road Into the
Copper river district go through the
American Smelling and Refining com
pany VIII build works at some point on
the coast, probably Valdez
There are valuable coal deposits In
Alaska, the engineers say, which may
be depended upon to furnish cheap fuel
These mines have not been developed
however, and if they should fall short
Of expectations California fuel oil Will
be used In the reducing works.
What Alaska most needs now is a
stable government, The DEVELOPMENT
IS bound TO come The United States
could not help the West more than by
doing all that is possible to hasten the
building up of Alaska 1t Is the coun-
try that will have to depend upon the
States for practically all the necessaries
Of life. and the faster 1t grows the fas-
| ter the commerce Of the Pacific ports
Will increase"
Plans Arc Immediate.
That the Guggenheim plans are i'm
mediate Is borne out by the fact that
Daniel Guggenheim's eldest son. M
Robert Guggenhem. who has Just re-
turned from honeymoon abroad Will
cisco, where he will take up the work
Of expediting the Alaskan project and
at the same time supervise the building
OF large smelling works at St. Bruno
Point, outside of San Francisco Young
Mr.. Guggenheim is a graduate of the
Columbia School OF Mines, and has had
practical training for two years In the
American Smelling and Refining com
panys plant at Perth Amboy
In his excursion through the Far
West. Mr.. Guggenheim had many op-
portunities of sounding the extent of
the country's prosperity. He said that
he found the Western cities doing more
business than they have ever known
and making bigger profits. But In the
silver States. he said, there were grum-
blingS against the Government for It's
attitude in the matter Of silver coinage.
1.-The silver men think that the Treas
ury department is not giving them a
square DEAL he said. 1T refuses TO buy
silver bullion for subsidiary coinage,