The Birmingham age-herald., 1920-06-23
Daily Wall Street Gossip
BY HOLLAND.

New York, June 22.-(SpeciaL)-The late Senator John P. Jones, who made con- siderable investment in one of the early gold mines of Alaska, became enthusi- astic when referring to the resources and almost incredible wealth, as he called it, which is in the Alaska peninsula. Gov ernment aid cordial government coop eration and the coordination of govern mental control in Alaska would be need ed, he often said, if there came the high development which is possible of the re- sources of Alaska.
 Today word comes from Washington that the government acted upon a report made by a special committee of experts appointed by the department of interior to make investigation into Alaska con- ditions, and that the secretary of the in- terior has received this report with favor It will probably lead to recommendations to Congress, although legislation is not necessary to perfect high degree of government coordination and co-opera- tion whereby the entire territory can be served.
 When William H. Seward as secretary of state in the administration of Presi- dent Johnson bought from Russia the territory then called Russian North America, paying S7,200,O00 for the sover- eighty, he had no other idea than in this way to prevent Great Britain from securing control of the peninsula Not the slightest comprehension of the re- sources of Russian America. excepting possibly the fishing and seal industries, influenced him in making the bargain in Russia. His son, Frederick w. Seward, who was familiar as assistant secretary Of state with the transaction by which the peninsula came into our possession, said afew years ago that if Russia had known what the possibilities of Alaska were she would have demanded many millions more, and if his father had known he would have been willing as secretary of state to pay whatever price Russia exacted. Many years after our flag was raised over Alaska, and the purchase money paid, Frederick w. Seward visited the peninsula which his father had named Alaska. While upon this visit Mir. Seward learned enough to justify him in saying on his return to New York that the United States had aireay realized through Alaskan devel- opment, crude and imperfect as it was, many millions more than were paid to Russia for the territory. He believed, however, that it was vital that the gov- errment should act earnestly, almost az gressively, so as to establish good roads and where roads were impossible, per- feet trails, and also to aid in the con- struction of railroads. For he said if this were done, then Alaska would be ready for the investment of very large capital. and the returns upon such in- vestment properly guarded by the United States government would be gratifying
 Aside from the exploitation of the gold fields of Alaska but little capital was invested in the development of the re- sources until within few years One of the leading authorities on American copper production said recently that there is not the slightest doubt that enor- nous deposits of copper in Alaska are awaiting exploitation and transportation. The government, in sympathy with capi- tai, has made it possible to construct