Valdez daily prospector., 1916-12-01
NEW CORPORATION
 BEEN ORGANIZED
TO DEVELOP PROMISING CLAIMS
Alaska Bonding & Development Co. Formed to Develop the Resources of This District-Promises To Be Exceedingly Profitable.

A corporation, having for it's ob- ject the development of some of the exceptionally promising mining prop critics of the Valdez district, and which bids fair to prove exception ally profitable for the investor. has been recently organized here with s. A. Pepper president. John Lyons vice. president, H. E. F. King treasurer. and T. P. Geraghty secretary.
 The title of the new corporation is the Alaska Bonding and Development Company, and it's activities will be di- rected toward the development of gold and copper mining claims. ap-. proved by the Board of Directors. either upon q working bond or upon an option to purchase. In other words the company will supply the necessary capital to develop proper ties having promising indications. upon which favorable terms can be secured to the point where they can be sold at a profit. or if mines are particularly valuable, taken over by the company and worked.
 This company will fill a long felt want, and has a large and promising field in which to work. In no section of Alaska is there district which has disclosed the prospects, both cop per and gold, to the number and of the richness found in the vicinity of Valdez and the country adjacent. and nothing but the lack of capital to de- velop these prospects has prevented this district from becoming the fore most mining district of the territory.
 Realizing the need of capital for the development of these natural re- sources, and seeing the enormous profits sure to accrue to those ill position to furnish this capital, a number of business and professional men and mining men of Valdez and vicinity, interested in the project by E. H. L. Mitchell. who for several months past has made a thorough study of the field and its possibilities, have organized for the purpose of fill- ing this much-needed want and are offering the first block to the public at 25 cents share. Already large number of shares in the company have been sold to local people. and it is anticipated a considerable portion of the first offering will be taken here.
 MT. Mitchell will leave on one os the next boats for the States and will inaugurate an active campaign there for the sale of the remainder of the stock to be offered at this time. This Is not MT. Mitchell:s first attempt -at promoting. and having a supreme faith in the merit of the enterprise, he is confident he will have no difi- culty in financing the proposition without difficulty.
 Aside from the object stated above that of securing options on and de- veloping promising prospects in tLis district, the company starts out with enc of the most promising of the prospects in this section in its posi- tion. the absolute property of the corporation. It consists of 8 group of three claims on the extension of the Daley-Bonnett lead. which gives promise, from it's surface indications, of being fully as rich as the Daley Bennett claims, which are admitted to carry the richest and most exten- sive ore bodies so far uncovered in the district, and which have been de- veloped to the point that the installa- tion of large capacity mill is indi- cated. The three claims owned by the company are sufficient asset for the organization of a company on a basis of capitalization on which the company was organized without talk ing into consideration the possibili- ties which arise from the methods in which the capital is to be employ ed. The directors of the company. being mining men or men familiar with mining conditions here, are in @ position to exercise a judgment in the selections of claims for the ex- ploitation denied those unfamiliar with the field. They have a large number to choose from and in sec tions where the development work on adjoining claims has demonstrated the permanence and value of the ore