The Alaska daily empire., 1924-12-24
Maine COMPANY
BUYS UP THANE
PROPERTY HERE
Alaska Gold Mines Co., PAYS
100000 for All Hold
ings of Castineau Co.

Tho Alaska Gold Mines Co, pur-
chased all of the property and rights
of the Alaska Gastineau Mining Co.,
lode and placer claims, mill sites,
tunnel sites, water power develop
ments and rights, bidding them in
for 100000 at the foreclosure sale
of the Special Master in Chancery,
G. w. Folta, held at the Federal
courthouse this morning. The pur-
chase was made by H. l.. Faulkner,
representing the buying concern.
Although the sale was advertised
locally and in both New York and
London newspapers, there was no
outside competition for the property
This sale is said to be the first
step toward clearing the property OF
encumbrances and making possible
the delivery of certain portions OF
it to the Polk nitrate interests for
the purpose of developing a nj
trate manufacturing plant at Thane
Buyer Holds Bonds
The Alaska Gold Mines Co., Is
Mdinc corporation. Its articles
of Incorporation were recently filed
in the office of the Secretary OF
Alaska when it paid one of the
largest filing fees ever paid by any
foreign concern entering. the Ter
ritory. III. +. -.
II has acquired sll OF the out
standing bonds of the Gastineau
company. A small block of bonds
known 10 have been issued, could
not be located by it, and a special
deposit has been made TO cover them
in case they should ever show up
which is said to be improbable
II is understood here that the
buying company win deal directly
with the Polk interests in transfer
ring such property at Thane and
the water power development and
rights as are involved in the Thane
deal that has Lecn pending for more
than a year and which is said to
have been awaiting. the foreclosure
sale before final settlement
The quartz properties at Perse
verance and other mining property
1t is understood. will be retained
at least for the present by the buy
er. Its plans for their future de
Vehement, sale or lease, have not
been made public.
Acquire Large Holdings
Large holdings were involved in
the sale today. 1t included transfer
of title to some SO lode claims
two large groups of placer claims
water rights on several creeks and
developed water power and improve
mcnts. mill sites, soldiers addition
al homestead tracts, the Thane
townsi.e. loca. town lots and GER
tain contracts held by the old Thane
company with other local companies.
The property sold includes; lode
mining claims, Perseverance Nos. .,
4. S, 6, Martin. Alma. Avon. Perse'
verance-Alpha, Jumbo Extension
Perseverance Major, Perseverance
No. 7. Perseverance No. 8, Perse-
yerance No. ., Perseverance No. 10,
Perseverance, No. II. Perseverance
No. 70. Perseverance Nos. 13. IA, 10
16, II, 1S, 10, Homestead mine claim
No. l, Homestead No. 2, homestean
No. 3, Homestead Extensioh' rro
tcction, Solo No. /. 'P," Bess. LADY
Corsen. Margarite, "a "V' &C
Charlotte, Solo, %" York, Alma
Avon, Emma, Emma Nos 2. 3. 4, 3
G, 7, 8, 0, 10. II, II. Is. "A. NJ
up. NJ" Batha, Jumbo Extension
Apex, Apex Extension, 1T. r. WON
MacKinley Hanna. Winn. Fisher
Fraction. Watts. Rae. Roland, Swe
den, Norway. O. NJ. Gillette, Moni
tor. "F. G." Ethel. Alaska Chief
Harris, fremont, Everett, Ground
hog. Summit, Cross Bay. Expector
Avalanche also Perseverance, tunne
sites. etc.
Perseverance group of placer
claims, Last Chance group OF placer
claims. Lurvey Creek water right
Annex and Salmon Creek watel
aof,