Valdez Daily Prospector
PUBLISHED BY THK
Prospector Publishing Co.
TBIIMb
One Dollar per Month: Twelve Dollars i>er Year
SATURDAY, FEBRUARY 10, 1912.
UNUSUAL RE8ULT OF BOOM8.
II is very apparent that invest
ors in Porcupine mining stocks
art? <1 n«> to receive a rude awak
ening: in the very near future. In
deed I he awakening may bo said
to be right now in progress. It is
said rats hasten to leave a doom
ed ship and the same may be said
of the eastern press which has
been booming I he Porcupine
eounlry. They are beginning to
offer excuses why the Porcupine
district has not come to the front
although millions of dollars have
been invested in the district. The
Ontario camp is now in ils third
year, yet there are only two
mines in the entire district which
have proven their worth.
The I rouble with the Porcupine
has been overcapitalization and
wildcat t ing. Mining promoters,
I lie sharpest men in the business,
have Docked to (lie camp and have
used every means of mining the
pocketbooks of the public instead
<>f (hi' mineral deposits of moth
er earth. They have bad wonder
ful success ami have cleaned up
fortunes but most of the prop
erties so promoted are far from
being near I lie dividend-paying
class. The promoters of the
i-orcupme wi'i'c wise 111 tncir ^oil
oration ami would have nothing
to do with any proposition which
would not sland for a capitaliz
ation of a million dollars and up
to seven and eight, millions. Any
rlaini localcd near another prop
erly which had been capitalized
for a high figure, irrespective of
worth, other Hum capitalization,
was supposed to have particu
lar merit. The price paid Ihe
original locators may have heen
a few hundreds or thousands of
dollars hut Ihe properly was Irad-j
ed hack and forth among the
speculators at a constant ly grow- I
ing price until it was rated as a
million dollar proposition. The
slock was I lien placed on III.' mar
ket, the promoters taking about
five-sixths of the capital stork
for their trouble in promoting Ihe
company. My boosting the stock
to a fictitious price they were en
abled to part with a portion of
their promotion stock at a h
figure and still retain a major-j
ity of the slock. They have their
own money hack and destroy the
market for Ihe treasury slock by
placing it in competition with
promotion slock which did not
cost llieni one cent. The invest
or is left holding Ihe sack, hut
from present indications it will
he some lime before anything is
dropped into it.
miring iin* past year compan
ies have been organized with cap
ital aggregating more than $182,
000,(100. Only two properties, I he
Dome and Ihe llollinger, have at
tained the possible producing
stage, although there are many
others which are in different
stages of development. The Dome
at present market value of $i()
per share, is supposed to he worth
$14,000,000. Up lo Ihe present
the total investment in acquiring,
developing Ihe property and
equipping it for treating the ore
amounts lo $1,030,000. The dif
ference is the amounl which Ihe
owners hope lo secure from Ihe
mine in dividends or by selling
their slock at Ihe top price. The
ore is low grade, Ihe estimated
average jirolll per Ion being $(1.
It is figured il would require Ihe
life of the mine to be 43 years
and shipping 300 tons daily for
3(10 days each year before an in
vestor at* $40 could consider him
self on velvet.
The market for Porcupine j
slocks is beginning lo decline and
Ihe excuse is offered thai Ihe at
tention of investors has been
turned aside by the rise in value
of copper. The Porcupine has
apparently been worked lo a lin
ish by speculators and the dis
trict will receive such a knock
thai it will require years of hon
es! effort lo develop Ihe proper
ties lo the stage where their true
worth will he established. The
llrsl sign of the collapse of the
boom has appeared. The big fel
lows tire seeking lo unload and
Ihe awakening will follow short
ly.
The investors of F,astern Can
ada, New England and Ihe East
ern stales should come to Alas
ka lo recoup their lost fortunes.
Mere they can buy real mines in
stead of trading in mining stocks
which hav« no value other than
the beauty given them by print
er's ink. They will be welcome,
but they must leave the specu
lator behind.
BELIEVE WOLVES
DEVOURED MINER
8earch for Red McCarty Has Been
Abandoned for the
Present
Fairbanks, Feb. 10.—The min
ers and prospectors who have
been searching in the Birch civek
region for I he body ol" lied Mc
Carty have given up the hunt and
will wait until spring.
It. is believed McCarty was de
voured by wolves as his cap has
been picked up at the place where
his dog harness and other things
were found. His dog has not ap
peared at any camp and it is be
lieved he suffered the same fate
as his master. A pack of eight
or ten big timber wolves have
been seen prowling in the district
and it is feared they attacked tin1
lone prospector, who was unable
lo defend himself.
FRED CHAPMAN AND
BOB MITCHELL JAILED
In private advices received mi
the i.isl mail, the informal ion is
emilaincd thai Fred (Miapman anil
Moli M'tchcll have boon arrested
in Milaroil in connection wilh the
recent holdup of the Flat ereok
Irani, sa>« llie Iluh.v (Citizen. Jim
llairan. as a special deputy mar
shal, has prone outside hy way
of Seward, lo arrest and brinrf
bark two women of |he underworld
known as Eva and Doris, who are
suspeclcd of knowing a {rood ileal
about fin' affair.
(Uiances on the raffles are on
sale everywhere.
ALASKA ITEMS.
Jerome ('.hole, the former Daw
son millionaire claim owner, is
ver> sick in I lie hospital al Ruby.
l'hil Xorlli, an ohl-limcr, is
prospecting in the ltuhy district,
lie is down I .'10 feel on Diamond
creek wilh no sitfli of bedrock.
C.lciii I.a Horde, the former
CJeary creek operator, has just
been convirlcd before the com
missioner al ltuhy (lily of having
sold lii|uor without a license.
The Odd Follows (Hub in Fair
hanks is in a nourishing oondi
lion and have purohsaod a huild
ii)K for Ihoir own use.
Tlio Old Man country up in I he
Koyukuk district is said I<» ho
coiuinK lo I.ho fronl. Thoro aro
over 50 minors wintering in tho
cani|» and I hoy arc roporlod as
hf'inR wo 11 satisfied with Ihoir
prospocls.
Qreat Sunday Program.
Al I In* Orpheuni tomorrow ev
ening Hi ere will be one of Ihe
best shows yel seen al this thea
ter. All Ihe.pictures are new ones
ami with Ihe extra numbers make
up an excellent program. Last
night's program will be repealed
tonight. Sunday program:
1. Overture, orchestra.
2. "Saved by Wireless," some
thing novel.
3. Illustrated song, "My, What
a Funny Little World This Is."
"Hoping Wild Horses," sen
sat ional.
5. Solo, "Who Are \V»u With
Tonight?" S. Henry.
(5. Mass solo, "(lotion Town,"
Clias. Williams.
7. "Picture Combine," comic.
H. "Olcott's old - fashioned
Mother," Mr. Tlios. (lillis.
9. Scenic travels.
I(). Selections, orchestra.
We&ther Report.
Maximum temperature. .. . i2
Minimum temperature. ... 10
Mean temperature 30.05
Temperature al (» p. in....35
Precipitation 08
Clear, fresh breeze N. E.
E. M. BLADE, Observer.
Masquerade Suite.
Something new and novel; first
time ever .displayed in Valdez.
Owl Drug Co., Inc.
See Ihe prize to be given to the
He lie of the Hall.
If you want your clothes clean
ed and pressed 'phone Silverman,
168.
jl/Tajestic
± fji C. N. JONES, Mgr.
Complete change of program:
Sundays, Tuesdays, Thursday
and Saturday.
Saturday Matinee at 2:30 p. m.
Children under 14, 10 c.
If You're Pleaaed Toll Others.
if not, teli US
pictures WORTH WHILE
TWO SHOWS NIGHTLY 8 and B:18
MISS O'MALLEY. PUnut
MINING ENGINEER
L. W. STORM. E. M.
Rmromrs on Minks
Patknt Sunymys
aKHKmAL. MININQ ENQINMKItlNO
Phonb No. ios
f. butterworth;
Civil Engineer and]
U. S. Deputy Land and
Mineral Surveyor
Offlcc in Hurrinirton H1<1k.
on Water Front Res. I' 189
MISCELLANEOUS
CAMP VALDEZ No. 10
Moot every Tuesday evening nt H o'clock in I
Ktt^le Hull-. All members requested to at- j
tend T' G. QDINX. Artie Chief |
Valdes Lodge No. 168
Free and Accepted Masons
Regular Communications first Wednesday in
eneli month in MeKinley Hall. Visitors always
welcome.
James M. Patterson,.\V. M
C. C- Reynolds. Sec
1.0.
jO.F.I
Visiting and locnl Odd Fellows nre re
quested to register their mime with the
Valdez Odd Fellows' Club. Regular
meetings, tlrst und third Monday.
Cull on F. S. HUNT. Secretary.
FOE
VALDK7. AKUIK No. 1971
Meet every Kritlay, 8 p. ni. Kairlc Hall
BUY YOUR BREAD at
VALDEZ BAKERY
Nothing but best materials used.
FRESH BREAD DAILY
All kinds of Cakes, Pies, etc.
made to order
WOOD & HENRICH, Props.
r
Fagerberg Bros.
NIZINA, ALASKA
General Merchandise
Miners & Prospectors Supplies
Freah Goods-Reasonable Price*
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THE CUFF
P. S. HUNT
Proprietor.
THE CUFF
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Clothes That Become You
No matter who you are or where you are going—
to business or to a ball
How few there are in this world.
When found, seize upon them.
They are unusual.
STEIN-BLOCH
are the past masters of clothes
making. The worl d pays them
the tribute of its admiration. We
are fortunate in being able to of
fer you the opportunity of exam
ining these clothes and of trying
tem on.
SMART CLOTHES
These clothes are Tailor Made. Prices from $10 to $25 less than your tailor
will charge you.
Copper River
Draying Co.
Kreitflitin^ uinl passer)irers to all furls
oti the inier'nr. licncral Trucking
hid. Wood, - Proprietor
McKiuley St. Vulilez
|l«up Horn
EUROPEAN^.
SEATTLE
Cmas. Perry, mop.
THE BESTOrEVESTTHING
IN THE MART OF THICTTY ,
135RooHsWnhtoui-505jMPuRooHS
When In Seward (Stop at the
COLEMAN HOUSE
OCORGt SEXTON. PMOF.
STRICTLY FIRST CLASS
Fourth |Avi Seward, Alaska
FISHER'S BLEND
FLOUR
AT
D0U6HERTY & FERGUSON
PHONE 2.
Valdez Undertaking: Co.
Undertaker, Emhalmern
Funeral Directors
KoH:"148 CEO. ROBBINS, Mgr.
Steam Heat Electric Lights
THE COPPER BLOCK
Finely Furnished Room* All Modern Conveniences
Good jnr DlirCCT G ° °d
G°°ds I ML Burm Goods
Copper River Lumber Co., Inc.
ALL KINDS OF
Native and J | TlVflDirO and Building
Puget Sound JLi V/lVJll3lZjiX Material
CONSTANTLY ON HAND
Prices Right W. M. FINICAL, Mgr. Phone 18">
Patronize a Home Industry
Z\be
Tairbanks Bar
George Krau, Proprietor
Pool, Cigars, Liquors
CourteousJTreatment Phone 100
Ingram & Bush Dealers
Just Arrived Direct from the'
Factories a Large] '^Shipment of
INTEGRIDAD, Rex, Regal. EL SIDELO, Senators, Millionaire*
SMOKECRAFT, Rein* Victoria, Delmonico BELMONT, Monarch
REPRESENTA, Medio, Full Value, Madrid
Box Trade Solicited at Seattle Prices
Special Price To The Trade
We do a
general
Banking
Business
S-BLUM &. ©•
— INCOR POP ATED —
BANKERS
CAPITA L. $ 2 O O.OOO.00
Bank in
rear of
mercantile
department
We Pay 4 Per Cent Interest on Time Certificates of Deposit.