Douglas Island news., 1907-09-11
The New Valdez.

Development Co.,, in the town of Val dez, has given that village an impetus that is no doubt surprise to the old est inhabitant. The Prospector says;
 In view of the recent corporations organized by Reynolds and the huge sums of money he is paying out, there has been much local comment regard ing the source of his power and wealth.
 Many have expressed the belief that he was merely the agent of Wall Street interests and was doing the biddingNot strong men in the back ground. Such however is not the case. He is now carrying out the final details of plans long formulated and carefully thought out, entirely on his own initiative. He came up from among the common peo- pie and it is the common people whose fight he is waging for justice and fair play in Alaska. Realizing that the funds which finally pay for everything must come from the people, he has wisely tapped the original source of supply and he is backed solely by the people, who trust him implicitly.
 With no regard for wealth for its own sake, wealth is flowing steadily into his hands to be carefully used for the good and happiness of those who most de. serve the good things of this world those who toll.
 It will probably be surprise to many to know how comprehensive and far reaching the Reynolds System has grown in the past few years. 1t is hard to believe that the quiet, unobtrusiye young prospector could have organized practically alone, financial system so as to be able to successfully cope with the much dreaded Wall Street Trusts.
 The foundation of the whole Struct- ure is the ReynoldsAlaska Develop, ment Company with a capitalization of s3,OOOOOO. Its stock is selling at 300 per cent. premium and advanced 100 per cent. in March during the terrific panic, when Wall street securities were dropping 20 to 50 points. In fact more Reynolds-A Alaska shares were purchased by investors in March than during any previous month. There are at present nearly l7OO stockholders in the Key holds Alaska Co.,, representing every state in the union, besides Canada and Europe. An unique feature of the company is the Executive Council ot about 70 members, which directly rep reseuts the stockholders in the large affairs of the company.
 Each property and interest Is held by subsidiary company so that fail ure in one would in no way effect the other or the parent corporation. Thus there is the Boulder-Alaska Copper Co. for the Boulder Mine; Latouche-Alaska Copper Go. for the Latouche Mine, etc, The Reyuolds-Alaska Coal & Oil Co. covers a necessary field, just as does the Alaska Coast Copper Co.,, in pros pecting and early development
 The Alaska Home Railway was organ ized for the sole purpose of construct ing and operating the much needed railroad into the interior. Reynolds plan is to eventually build the Alaska Home Railway to reach every corner of Alaska. It is to be road of the peo- ple of Alaska, builded by them and run in their interests regardless of outside influence. In order to forever prevent wealthy interests from securing con- trol of the Home Railway, each stock holder will have but one vote, regard less of the extent of his holdings. Voting will be in person, or by mail, with no proxies. thus there will be republican form of government and there will be no repetition of the humil- iating experiences of Eastern minority stockholders, who must stand helpless ly by while they are plundered by un- scrupulous manipulatOrs,
 In order that Alaskans shall secure the full fruits of their development work, Reynolds has covered by corpo- rate organization every point of want age. The Alaska Coast Go. is the trans portation link to the States. Addition al ships are being put on the line. Under contracts with Alaska Shippers, at least 75 per cent. of the freight will be carried by the Alaska Go. Probably all of it will go over this line when sufficient ships are on the run to ac-