Arizona republican., 1916-01-09
The. Alaska Gold Property

Such has been the decline on the stock market of Alaska Gold and so many are the shares of this company held in Butte, that everybody has been asking of late-what is the matter?
 In the New York Mining Age, or re- cent date, reviewer of the companys organization and of it's rise and de cline of the stock is given in these words, which seem to be clear enough:
 The shares of the Alaska Gold Mines company have witnessed ser ious decline on the New York stock ex- change. In April last, the issue solo at high of $40 1-2 and has remained at consistently high levels since then until very recert date. Last week the stock was down tp s2l IA
 This low grade gold mining propo- sition which is capitalized at $7.5OO. 900 in shares of a par value of sl0 wa, introduced on the market in August 1912, under the sponsorship of Hayden Stone Co. J. (. Jacl<ling and other per sons connected with the Utah Copper company and affiliated corporations It was organized for the purpose of taking over and working large de posit of low grade gold ore near Jun eau. Alaska.
 Proposed Profit.
 The company proposed to make a profit of E cents per ton on ore hay ing gross value of not over sI.5O per ton. Never before has gold min l ing been attempted on ore of such low tenor nor on such a large scale The successful enterprises with which the | hackers of the company were connect ed in other parts of the United States seemed to afford sufficient guarantee for the successful outcome of any en- terprise to which they might lend their name For this reason the issue O. Alaska Gold Mines company stock was fully subscribed when the business was still in it's infancy and before an, great tonnage of ore had been placed l in reserve. and. of course, before any milling equipment had been provided Since the organization of the com pany large sums of money have been expended on underground development | which haze placed according to off cial statements. 900. OOO. 900 tons of ore m sight of an average assay of sI.5C per ton.
 Big Mill Completed
 1 A modern gold milling plant with a | daily capacity of 6O,O00 tons and euuip- ped with hydro electric poyew plant i has been completed. The mill started | crushing in March of this year. treat Ing 4O,OOO tons of ore, which quantity ! was gradually increased until in Sen
 tember, 1S2,00O tons were handled. | From the very beginning optimisti, 1 reports were issued by the manage | ment regarding the results obtained
 IL was repeatedly stated that the mil l was doing very much better than ex- 1 pected and that working costs were at
 least 10 cents better than the origina | estimates. Of late it has been ayerred
 that the working cost had been re-
 duced to as low as 40 cents. as com
 pared with the original 75-cent esti.
 mate, made at the time the compan, | was floated During the three wear,
 that have elapsed since the compap,
 started business. development worL
 was extensively prosecuted in order tc open up the mine to a point where ii l would produce the enormous tonnao, required to keep the milling plant TIT to capacity. A tunnel several thous. i ana rect in length was driven iron practically sea level to intersect in, ore bodies at a depth of approximatel, l l,OOO feet. In the course of this deveI opment work it was stated that n con.
 siderable width of distinctly high gra q,
 ore had been penetrated and that i,
 consequence the average grade of th,
 ore reserves in the mine had been hat
 been increased from $1.5O to $l.75 pel
 ton. H
 Mir. JaekIing's Statement
 The advance in the price of tn,
 stock from it's par of $1O to the high ot s4O l-2, which it reached last April
 was largely predicted upon these re.
 ports officially issued by the company
 The recent fall in the price of tn,
 shares resulted from the fact that tho