The Alaska daily empire., 1915-07-29
SPIEL RIVER TRACTSCOAST
 WIDE INTEREST

A substantial and unexpected bit of news was dropped when w. P. Lass announced yesterday that J. Pierpont Morgan has bought into the speel River project, which is being developed under the management of Mir. Lass aad E P Kennedy There had been much speculation as to the purpose of Mir. Lass's recent trip to san Francisco. and until yesterday no inhmg of what really occurred while he was away had been given out
 Interest In Litigation
 Juneau is not alone in her keen in- terest in the outcome of the suit re- gently filed against the company but some of the most powerful inter- ests in the country are on the qui vive for the decision. The Speel Riv- CT Project is represented by John Rustgard in the present. suit, which is not yet at issue.
 San Francisco Watching
 Fred W. Bradley Mark l.. Requa and the Crocker Bank interests, rep resented by Wellington Gregg IT,, as directors of the Alaska-Juneau Gold Mining Company are about to en- counter foemen worthy of their steel. in a battle royal for the most valua- ble power site in Southwestern Alas ka," says the San Francisco Examin- CT under date of July 22.
 The article continues:
 At meeting of the stockholders of the Speel River Project Incorporated, held last week, the respectable non entities who had served as officials were superseded. and the following we'll known Californians were elect ed: Frank G. Drum. president; Eu- gene P Kennedy, vice-president; and A. r. Hockenbeamer, secretary and treasurer. These men, with w. c Filler. of san Francisco and w. P. Lass of Juneau. constitute the new beard of directors.
 As Bradley-who is the most dis tinguished mining engineer in active practice in America represents the
 Rothschild-Guggenheim-Hayden-Stone aggregation of mining capital, while Drum. as is we'll known is spokesman for the Morgan interests on this coast and as the Alaska.Juneau Company claims an interest in this power site, and has expressed its intention to embark in litigation concerning 1t. under the able pilotage of Curtis H. Lindley. it follows that the resultant war will be one of financial giants.
 According to an accounts. and by the-by, this is the sole subject on which an parties are in agreement control in the Speel River Project is a prize worth the strife. The pro- feet has water rights and reservoir sites within 30 miles of Juneau. capa- ble of producing throughout the en- tire winter as well as summer 100000 ldlowatts. or 138.S83 horse power of electrical energy Drum and his associates. who have bought into the lawsuits. and control the Speel River enterprise. are supplied with the reports of well-known engin- eers and power experts. which indi- cate that this very large amount of available power can be developed at cost far below any hydro-electric installation in existence. and that there is no immediate market for all the energy that can be produced.
 Owing to the extreme cheapness of this power. 1t is admirably adapt ed to the production of chemicals, such as nitrogen from the atmosphere in which field Norway and Sweden have heretofore enjoyed a monopoly. In the immediate vicinity of Juneau, within easy reach of this new power, are located a number of the richest low-grade mining properties in the world Among them are the Alaska Treadwel Alaska-Juneau. and the Jackiing properties. with a number of others not sQ well known.
 The new company has a capitaliza- tion of SlOo.OOO preferred stock, and S5OO.OOO common stock, none of which is on the market