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Partner of Chena Man Ad vises That Guggenheims Are After His Interests in Quartz in the Imoke. EXPERT REPORTED VERY FAVORABLY Little Giant Stamp Mill Was Installed There Last Year, but Its Operation Was Not a Success. J. F. Kaatz, formerly of the Fairbanks district, stands well to make a snug homestake from his quartz and placer holdings on Gane creek, in the Inoke country, ac cording to a letter received on the last mail from the lower river by William M. Zacharias, of Chena. The letter was written by Mr. Kaatz, who is a partner of Mr. Zacharias, and has kept him informed from time to time of the progress being’ made in the work on the claims. The Kaatz holdings on the Innoke’ stream consist of twelve quartz claims,, on all of which the ledge has been shown up. The ledge ‘has a width of from 10 to 12 feet, and averages over $50 to the ton in gold values on the surface across the width of the vein. A Little Giant stamp mill was in stalled on the property last sum mer, after being freighted many hun dred miles from the main arteries of summer travel in the Interior. Some of the parts proved to be miss ling, so the operation was not a decided success. It is believed that next year will see the grinder doing splendid work, and manufacturing gold bricks for the owner. An expert geologist was in the district last summer, on business connected with the Guggenheims, and took an opportunity to make an in spection of the claims owned by Kaatz and associates. The result of his report to the Guggenheims was that they immediately opened negoti ations for its purchase. The sum of $75,000 has been offered for the claims, it is reported, but no deal has been made as yet.
Newspaper Details
Fairbanks Daily Times
Fairbanks, Alaska, US
Sun, Jan 12, 1913
Page 3
Full Page
Clipped by
Raleigh J.
USA 28 May 2026
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