Kennecott Copper Co
THE BEST Wall Street opin
ion is unanimous that the
present represents the most
opportune time for the accum
ulations of the copper securties and
that there is no occasion to sacrifice
these stocks during the period of read
justment of the copper metal market
on rumors of big copper surpluses,
etc. It is just as important to re
member the large cash surpluses of
these companies, which will not dis
appear quickly as will this illusive
copper surplus, nor will the intrinsic
value back of these stocks fade away.
Kennecott Copper around $30 has a
marke tvalue very much below its in
trinsic value. The company's owner
ship of about 40 per cent of the out
standing stock of the Utah Copper
Company, as well as its ownership of
the Braden mine, makes these shares
very attractive at the present time as
an income investment. The stock is
returning $4 a share yearly, and as
the Braden Company earned $9,310,000
net for the year ended Augut 31, 1918,
equivalent to about $3 a share on the
2,787,000 outstanding shares of Ken
necott Copper, it is evident earnings
from Braden will soon be over the divi
dend requirement of $4 a share. It
may be added that Braden’s earnings
of $9,310,000 were exclusive of a profit
of $2,500,000 to be realized on copper
J ,1__ iU.. AnliirnKOfl
When the Braden plant is enlarged it
will have a capacity for turning out
125,000,000 pounds of copper annually
and will dispute with Inspiration Con
solidated the thtir place among Amer
ican owned producers.
Recent reports of addition to ore re
serves of its bonanza Alaskan proper
ties indicate they will produce liber
ally for the next few years. The
Mother Lode property adjoining
which has been taken over by Kenne
cott intersts, will more than likely be
acquired by the Kennecott Corpora
tion, and will be Important in its po
tentialities for prolonging Kennecott’s
Alaskan activities, and turning valu
able mining equipment to further
profitable account. Development of
-the Mother Lode has shown ore values
equal in every respect to the best
showing of Kennecott’s bonanza
mines.
Approximately 40 per cent of Ken
necott Copper Corporation’s incomes
is derived from its investments.
These have a book value, according
to the last annual statement, of $102,
586,395, and their yield in 1917 was
$7,457,268.
Buys In On Nugget Creek
James C. Murray has recently ac
quired by cash purchase the interests
of Doc. Herndon, Charles Jacobs and
William Morris, original locators of
Nugget creek, which is considered
one of the richest pay creeks in the
Cache creek district. The original lo
cators are said to have taken out a
fortune. Mr. Murray plans on work
ing a large force this year.
Prospecting at Alaska-Gastineau
Prospecting, which has been discon
tinued during the war, has been re
sumed by the Alaska Gastineau Min
ing Company, according to Geo. T.
Jackson, manger of the mine. The
Lynch Bros., diamond drill contract
ors, have been engaged to carry on
the work.
Quartz Mining In Interior
Considerable progress in the quartz
mining activities of the Fairbanks dis
trict is the outlook for the year 1919,
with a resultant increase in the pro
duction of gold, according to mining
authorities.
In the Ester district prospects are
especially promising. There several
satisfactory hundred-ton mill tests
were made at the Eva mill, as a result
of which it is said at least two more
mills will be shipped in “from the
outside” upon the opening of naviga
tion. On the Smith, Mohawk and other
claims on Eva creek much develop
ment work has been conducted during
the winter, and a number of claims
have each several hundred tons of
ore ready for the first spring runs of
the mills.
Fairbanks Creek Coming Back.
That there is some truth in the say
ing that there is more gold in the num
erous “worked out” creeks of this |
cami) than was taken out i/ belrtg'ex
einplified on Fairbanks creak these
days. This creek, at the head at which
are a number of very promising
quartz propositions and where 'are lo
cated several small mills which have
produced and are still grinding out
considerable gold since prospectors
began to pay attention to the hard
rock possibiltics 6f the camp, is one
of the very first creeks on which pay
was located here and has been stead
ily producing the yellow metal since
1903.
Tolovana Is Looking Up.
Jimmie Cane«r££jU£ed to Fairbanks
from a business trip to the Tolovana
country. He reports that the indica
tions of that mining section point to
an exceptional season, it being his
belief that the output of that district
for the coming year will exceed that
of any previous one.
Sale Mable Mine Confirmed.
Sidney Anderson, vice-president of
the Bank of Anchorage, receives ad
vices confirming the sal^of the Mable
mine in the Willow creek district to
the Loveland-Alaska Mining company,
with offices at Loveland, Cal.
Mr. Anderson, who has been ap
pointed resident agent for the Love
land-Alaska Mining company, is of the
opinion that considerable work will
be done on the company’s property
this season.
Activity on Steel Creek.
Judging by the many activities
wh’ich are taking place at the present
time on Steel creek this camp will In
all probability have another “pay”
creek added to Its several producers
this year.
On the strength of the pay which
has been located by the drill Mike
Rakich, one of the original locators on
the creek and another party have
taken a lay on the ground, which is
but 95 feet deep and frozen all the
way.
Mike and his associates found good
prospects on the creek in the early
days but were driven out by the water
and as the place where they struck
water was 160 feet deep they felt
unable to tackle the problem.
In order to have the ground thor
oughly prospected they recently gave
a. one-half interest in their holdings to
Sylvester Howell and associates to
work the drill on it—and the pay was
found in frozen ground, which is but
95 feet deep.
It is reported that as a result of
the recent development on Steel creek
several adjoining creeks are due for |
some prospecting activity, several
powers of attorney having been re
corded at Fairbanks, and a consider
able number of claims which had been
abandoned a number of years ago
have been relocated.
Hydraulic Plant on Pedro.
Among the many outfits to resume
summer operations on Pedro creek
this year will be the large hydraulic
plant, which will be operated by Nel
son & Zimmerman below the mouth
of Twin gulch. It is expected that this
well equipped plant will remove con
siderable dirt this year as several
ditches will insure an abundance of
water, giving a nozzle pressure of 25
pounds.
Sluicing Soon on Ester.
Late arrivals from upper Ester re
pert that the dumps in that vicinity
are thawing out at a good rate. A
like condition exists on Happy and
water running to begin running"'the
dumps through the sluice boxes.
Good Pay In the Nelchina.
There is a demonstrated paystreak
a mile in length, ninety feet in width,
and that will yield probably better
than a dollar to the yard, on the right
limit of Albert creek, in the Nelchina
district, according to a statemest of
J. W. McCord, a well known interior
mining man, who has just returned
from a week’s visit to this camp.
Lon Adair and associates, anong
whom is Andy Masevich, formerly of
the Frisco cafe in Anchorage, are now
taking out $25 per day to the shovel,
six men being in the party. They are
working on a lay on discovery claim
on Albert creek, owned by Getchell,
one of the original discoverers of the
district.
On No. 1 above discovery on Albert
creek, Christofferson and three part
ners are digging a bed rock drain
alongside the paystreak, which seems
to be about the same as that on
discovery.
Odin Olson and his partner, Larson,
are preparing to take out pay on No.
2 above discovery. It is known that
the paystreak permeates this claim.
Joe Palmer is prospecting a bench
claim on the upper reaches of Albert
creek.
Cache Creek Placer Claims.
M. A. Ellis, the head of the Thunder
Creek Mining Company, one of the
biggest concerns operating in the
Cache creek placer camp arrived in
Anchorage. Mr. Ellis and Thunder
Creek Company people have done a
lot of work in the upper river country
and have employed a lot of labor for
the past several seasons. On account
of the greatly advanced prices of all
kinds of commodities that are neces
sary to the production of gold, Mr.
Ellis and his company will not work
to the extent that they will when the
Cache creek camp gets its road from
Talkeetna and prices get off their
present peak altitude.
Willow Creek Looking Up.
Messrs. Freeburn, Fozard and other
prominent mining engineers and min
ing men, some of them acting in be
half of the Guggenheims, will visit the
Willow creek gold camp this season,
with a view to making investments, if
they find anything to their liking.
Freeburn and Fozard, the former a
noted mining engineer, and the latter
superintendent of the copper mine at
Latouche, are in Juneau now, and will
depart for the gold camp as soon as
the mining properties can be ex
amined.
Passing of the Prospector.
All of the oldtimers coming out
from the interior as well as many of
the thoughtful Alaskans along the
coast, note and comment on the pass
ing of the prospector. Only a few
years ago the majority of the people
in Alaska were prospectors with the
firm belief ingrained in their makeup
that each would some day be the dis
coverer of a paystreak.
This spirit was manifested by the
Sheep creek men who stampeded (irst
to Forty-Mile ana later to circle, uaw
son, Koyokuk, Nome, Fairbanks, the
Iditarod, and in fact all over the ter
ritory.
But for some reason prospecting
seemed to cease to a very great extent
along about 1911 or 1912 and for
some reason or other it has never re
vived. When do you recall the arrival
of a cheechaco fresh from the outside
with a Montgomery Ward outfit con
sisting of high-top boots, a big white
hat, plenty of guns and a Way’s
pocket smelter?
Instead of this chap, who usually
wound up a good man in the hills, we
now get the fellow looking for a job,
and if Alaska can be developed by a
bunch of job hunters, the territory
will prove the exception to history, as
no other country was ever built up
by such a class.
The mineral resources of Alaska
have not been 5 per cent sought out.
—95 per cent of them are still un
found, undeveloped and unknown. As
long as our mines lie covered by tun
dra, moss and timber they will not do
the individual, the territory or the na
tion any good.
In these days when the nation sees
fit to help big enterprises; have big
departments to assist the farmer, the
fisherman, the merchant, the shipper
and nearly every-one else, it would
seem that something could be done In
a big way to get the man back into
the hills. Five thousand prospectors
such as Alaska had from ’98 to 1908
would solve the question for Alaska.
If Alaska is to succeed, prospecting
must be encouraged, and if needs be
this encouragement should be given
by proper legislation.
Paystreak on Vault Creek.
Late arrivals from Vault creek re
port that Beatty & Co. have run into
a good paystreak on the Nevada as
sociation. It is claimed that the pay
will go as high as two dollars to
the foot. Vault creek has been going
along quietly for the past several
years and new paystreaks are dis
covered every once in a while.
Drill For St. Patrick Creek.
The drill was recently brought from
the Tolovana country and a few nec
esary repairs made to it. The ground
where it will be worked at the present
time is considered wet. The owners
of the claim believe that a paystreak
exists somewhere and every effort
will be made to locate it and add an
other producer to the creek which is
already making a name for itself.
ARE YOU GOING OUT THIS FALL?
Visit San Francisco and Stop with
Mark C. Thompson
at his new hotel in the heart of the city between
Powell and Mason Streets.
The Dale-Tallac Hotel
140 ELLI8 8TREET
Special Rates and Headquarters for Alaskans.
..Illllllll.lllllllllillll..
m r m
i
I THE UNIVERSAL CAR B
The Ford Sedan is a car with refined
jj appointments, many conveniences, and jj
with all the economy a d satisfaction
== # t =:
M characterized by Ford cars. It is a
popular car among- women who drive.
It meets every social demand, every
family want, every day of the year, re
gardless of weather. Equally useful in
j| city or country. , Price, $775; Coupe,
$(>50; Runabout, $500; Touring Car,
L® $525; Truck Chassis, $550. These prices
f. o. b. Detroit. jj
H
§5=
We carry the largest stock of Automobile
Parts in Alaska. Orders promptly filled. Wire §
or write. jj
MARSHALL & NEWMAN CO., INC. |
Authorized Ford Dealers JUNEAU, ALASKA
KENNY HOLDEN’S
Pool and Billiard Parlors
CIGARS, SOFT DRINKS AND TOBACCO.
FIRST-CLASS BARBER SHOP
IN CONNECTION
MUSIC EVERY NIGHT PHONE 15