| Summary: | Early Alaska Season: Suggested By Northward Move Of Seals./Goldsmith Dredging Expects To Handle 200,000 Cubic Yards This Summer. EARLY ALASKA SEASON SUGGESTED BY NORTHWARD MOVE OF SEALS. Goldsmith Dredging: Expect to Handle 200,000 Cable Yards This Summer. An early dredging season is expected in Alaska this yeai*, says a report issued by John B. White, president, to the stockholders of the Goldsmith Dredging company. "One of the surest signs of an early season is the movement of seals to the north at this early date," he states. "It is believed we shall be able to move more than 200,000 cubic yards of pay gravel in the season of 1928. Each day brings closer the time when operations can be commenced. Our experience convinces us that the quantity of gold recovered from this ground in a good dredging season will satisfy every one who holds shares in the company. "The claims of the Goldsmith Dredging company embrace the upper Solomon river and its tributaries. The 15 contiguous claims on the river, three on Coal creek and the three fractional claims at the month of Coal creek, are owned without encumbrance by the company. The area contains approximately 4,000,000 cubic yards of gravel. The Solomon river enters Bering sea 23 miles east of Nome, Alaska. "The gravel is six to 12 feet deep, mostly fine and well washed, containing but little silt and clay. The ground is thawed and free from boulders and the bedrock is a soft decomposed schist cut occasionally by a limestone reef. The physical conditions are favorable. We have not changed our belief that operations in the usual Alaska season can produce $100,000 yearly, a satisfactory profit on the capitalization. Tests show that the ground should average 60 cents to the cubic yard. "Paid for and established on the ground is a two and a half cubic foot close connected bucket line dredge of the straight flume type, with Diesel engines for power, having a capacity of 1500 to 2000 cubic yards a day."
|
|---|