The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1909-07-20
Mr.. GUGGENHE|M
ON ALASKA
A RUSH LIKE THAT
OF 40 WHEN RAILROAD is
OOMPLETED-GREAT RICHES
ARE THERE.

Concerning the plans of the Nor
encouragement syndicate for the
development of Alaska, Daniel Gug-
genheim, president. of, the Guggen-
helm Exploration company, said yes
terday:
AS soon Is the Alaska railroad is
completed, which will be by the end
of next year, there will be an thrush
to the new country in many ways
equal in Importance to the early in
fiux into California during the gold
fever days. The future of this great
empire now being developed for the
United States is certain. American
capital and American men are doing
the work.
II have spent many years study
ing this problem and / make the
statement here, after a personal in
vestigation in the field, that the
great mining development of the
world in gold, silver, copper, tin and
coal in the future will be in Alaska.
l know that these metals exist in
large quantities and great richness
there, and all that is necessary is
transportation lines to take the peo-
PIE JucIC duu Cdii tAO PAOUuO1 OoShs
This will be provided by the COM
pletion of the Copper River railroad
in the southwestern district. This
railroad will reach the rich copper
mines recently secured by our joint
interests in the bonanza field. The
coal fields of Alaska also will be
reached by a spur of this railroad,
and | look to see a great reduction
in the price of coal furnished to the
people on the Pacific coast.
There is a mistaken idea that
mining in Alaska can be only conduct-
ed during the short summer s
This is true in placer work, but the
future developments will be largely
in quartz mining which can be
carried on underground the entire
year. There will also be developed
in Alaska enormous agricultural
wealth after the establishment of
railroad lines and other facilities
Mr.. Guggenheim, who is also
president of the American Smelling
& Refining company, said OF that
company and the Shelters Securities
company:
Il have just completed the annual
report of the American Smelling Il
Refining company, and the first year.
ly report of the. Shelters Security
company, and have no doubt that the
stockholders will be highly pleased
with the years work. Much has been
! added to the surplus, and the regular
dividends paid in a period of general
depression in business.
THE large business of the Smelt-
ing company in lead is a sure 1ndl-
cation of the conditions of business
affairs throughout the country. The
surplus stock of lead piled up during
dull times has been entirely wiped
out. This confirms the many state
ments made by the steel people that
they are having remarkable bust
ness.
at is an economic fact that steel,
lead and copper are so interviewer
that a large demand for m metal
naturally follows 10 the next. Now
that the demand for steel n lead
has shown such a remarkable IN
crease during the past few months !
look to see the demand for copper
equal the demand for the other two
metals. The lectrification OF the
railroad system in the large cities
will also increase the demand FOL
copper
Mr.. Guggenheim will sail on the
Mauretania and after a few days
stay in London will go to Carlsbad
Several weeks will be spent by his
party motoring in the south OF
France, and he will return to this
country early in the fall.
COOPERATION is NECESSARY.