The Nome daily nugget., 1914-03-28
(From Our Exchanges)


 main working tunnel. The new tun- rel will te driven to length of 770O feet and will tap thn mine at depth oC 600 feet. The first l,7OO' feet will be crossccut and the remaining 5000 feet will he driven on the vein.
 A ledge was encountered on the Greek Boy claims at Berners bay by the owners, Jos. Dumas and Stewart Woods. The vein averages feet in dth and carries flake and wire gold, A small piece crushed with a ham, mer and banned yielded nearly $200.
 The Alaska -Gastineau has contract ed for eighteen thousand tons of coal annually from the Port Graham coal mines. These coal mines have the @ distinction of being the first coal claims allowed to go {" patent in Alaska.
 The tunnel work at the Sheep Creek feet a day. There is still about 26Oo feet of work to finish, which should be done by April.
 The bondholders have been notified of the reorganization plans fthe old Alaska Ebner Gold Mines Co. It is the plan of the new company to in corporate for $7,5OO,OOO in $lO shares issuing $4OOO,OOO in 6 per cent first mortgage bonds, convertible in years at the ratio of two dollars in bonds for one dollar in stock.
 The United States Smelling and Refining Go. have the property under bond and are behind the rcorganiza- ton scheme.
 John C. Lynch. representing the Union Trust Go. of San Francisco, bid ir the Alaska -Treadwell Gold Mining Comapny property for $374.2O479 at marshals sale. He announced that new company would be organized and additional capital secured for devel- opment work which will start in the spring on an extensive scale
 The Aux Bay property has been op- tloned to IT. R. Plate acting in behalf of a syndicate of New York capital ists. Development work will start in the spring.
 Fail panks.-As the result of the final cleanup the Homestake mine has gold brick weighing S46s6 ounces. valued at S5,5s445. This is the result of the work of ten men for four months. and makes an average If S!to 25 per ton for the rock handled
 The cleanup at the Newsboy for the month totals $S,5OO. with ex- penses of $5.50O. As a result of the cXcell.:.t showing, syndicate of Fair banks l''siness men has purchased q block of 25000 shar owned by Seat tie people on winch II ey have h'C an option. The total stock of th1 Ne~sboy company !s 9z0,0OO shares all of which, with the exception of 5000 shares has been subscribed.
 The output from the Panama dis trict this year reached the four mill lion mark, making a total since 1902 of sixty.three and one-half million dollars. All but about half mill lion of this years output came from the Fairbanks district The shortage from last years yield is due to the drouth that prevailed this season. With the Ruby camp showing increased signs of activity, the outlook for this year is much better.
 Seward.-Two prospectors named Gage and Baker have discovered a ledge in the Cache creek district on Nugget gulch that yielded over $1.000 in free gold from 16S-pound sample. This is probably one of the sources of the placer gold in that district as the gold all shows recent reease from the quartz.
 The drift on the 200-foot level in the south vein at Skeen-Lechner mine is still in the rich ore. Gold is plainly visible to the eye and the drift is now 225 feet below the apex. The tram way and mill are in operation and Samuel I. Silverman says he can keep the mill running with only four min- CTS working.
 James Kingston. who has just come out from the Shushanna country where. he has been since last June, reports that although provisions are scarce considerable prospecting is be- ing done. Lots of now pay has been found on the Gold Hill and the Bo- manga. while three men from Fair hanks have located three new creeks or the Canadian side that show good values. These creks are about thirty miles from Shushanna and in the same
 -Az.-