The Alaska daily empire., 1923-03-24

the owner of 13 unpatented lode claims on Douglas Island, directly | back of the town Of Douglas and less than one mile from the Treadwell Mines, in what is believed to be the same mineral belt. lr
 'sThe property has been carefullx pfospectcd as far as tho work thus far progressed would permit, and the open cut diseloses ore. of paying values. ofa#ss 8.a sH .,A 'sThe funds derived from the sale of stock will be used for further de- svelopment. work which will be of the greatest importance to all who are stockholders in the company Shares may be subscribed for with, payment in full lor under the partial payment plan as desired. Only sufficient stock will be offered for sale as is neces- sary to carry on tho work" r l Expect to Restore Glory of Douglas ] "A further iettor issued by the com. pany reeites the history of Gastineau 1 Channel to prove that the develop ment and prosperity of Gastineau iChannel was a direct result of the development of the Treadwell .AIine, and 1t shows that the decline. of Douglas began with the ''caye-in'' that flooded the moro important of the Treadwell properties. ss4e 5, 1 It declares that the purpose of those who sent prospectors afield last year was to uncover hidden wealth which many firmly believed was in the vicinity was to restore the prosperity of Douglas. The let ter continues:
 After many discouragements, a discovery was made which. by vigor- ous work prosecuted late in the sea son and under adverse conditions. re- suited in ascertaining that there lies at our very back door. large says taken from an open cut giving average values of over three dollars per ton in gold and silver.
 Outlook Better Than TreadweII
 "When 1t Is recalled that the sur face of the Treadwell Glory Hole carried reported average assay value of only fifty-one cent per ton, lit will be seen that there is cause for the optimistic feeling which the promoters of tho. property have and the readiness with which they gave of their time and means to prospect the ore body.
 "It soon developed that the proposi tion was too large to be handled by the original owners, and the result was the formation of corporation and plans were made by which sui ficient stock could be sold to war rant the prosecution of the necessary work to put the property on a work ing basis.
 Thirteen claims have been located and deeded to the corporation. The original promoters are all local men and it is our hope that the stock will be subscribed for locally.
 "We now ask all who are interest cd in seeing prosperity again visil us to carefully Investigate the propo sition we have to offer. for it is 8 matter of vital importance to al what the future holds for the towns : of Gastineau Channel
 7 'sThe original promoters have fell no hesitation in giving of their time , and means for development, but the element of time is very essential, as we have becn on the verge of un certainty for so long period that sufficient support of local capital would urge development and hasten l. the day whom all would reap the en joyment of an ultimate recovery.
 "The proposition we offer you is not in a strange country, or distant land difficult of access, but is ad. jacent to your very homes, and open for your inspection and investigation at any time; and the expenditure of your money and the development of the property can be under the ob- servation of every interested par ticipant. W
 Officers of Company
 The officers of the Douglas Mining Company are: F. NJ. Shaw, presi- dent Guy H.. Smith, vice president; l.. w. Kilburn, secretary; James Chnistce. treasurer. The directors consist of F. NJ. Shaw. James Chris toe, John Feusi. F. A. J, Gallwas. Guy l.. Smith, l.. w. kilburn and \ Joseph Render.