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Show Bxtejisive Operations of Morgan Mor-gan and Guggenheim Inter-tests Inter-tests in That Region. SI EGCLES INTERESTED IN THE PROPOSITION Railroad Being Constructed Into One of Richest Mining Sections in World. The Copper River & Northwestern railwa3' in Alaska is now under actual construction, and it is only a question of a fpw months, says the Wall Street News Summary, when it will be iu full operation, in what may provo to bo one of tho richest mining districts of tho world. The company was incor-. porated under the laws of Nevada, with a nominal capital. S. W. Eccles. vice- S resident of tho American Smelling and cfining company, has recently boon elected president" of Iho company, and W. Piersou Hamilton of tho firm of J. P. Mori-an it Co.. vice-president. The controlling interest in the company is held by .1. P. Morgan & Co. and' the Guggcriheims, both of which interests are understood to own and control independent inde-pendent ly; and jointly also, enormous property interests in Alaska, and especially espe-cially in the Copper Hivcr district. Presidont Eccles has long been prominent promi-nent in Ihe railrond world and has Iho rcputut.ion of being one of the most active, energetic and capable railroad men. He was one of the most trusted lieutenants undor E. M. Harrinian on the Union Pacific system until he became be-came connected with the American Smelting and Refining company as vice-president. vice-president. Ho had especial charge of tho frnflic department, where lie has kept in touch with livo railroad intor-csts intor-csts from the first. Tho new road is boing actively pushed and upward of $000,000 has al-ready al-ready been expended in the building of about fifteen miles of road from Cordova., Cor-dova., on tho sea coast, eastward toward to-ward the Copper Hivcr, and rails aro now laid and construction trains running. run-ning. Grading and tracklaying is under way for thirty-five miles beyond tho completed section. It is expected that the fifty milos of road from tidewater to a point above tho groat rapids in Copper Hiver will be completed and in operation by autumn. Above the falls steamers will run for a distance of 150 milos or more up tup rivor. One steamer steam-er lias already been put in operation above this point. Tt is 110 feet in length, and was carried in small sections from Valdor. on tho const, a point now touchod by tho ocean steamers operated by the American Smelting and Hofniing companj-, by sleds, and tho sections were assembled above tho ranids. Tho completed steamer is now making regular regu-lar trips along the upper stretches of tho river. With the railroad completed to the points above the rapids, and tho steamer in operation, facilities will bo afforded which will open up the great area of now mineral territory, and givo an entrance into a wide district far beyond, which up to this time has been inaccessible. It is expected that several moro steamers will bo, put in operation before tho summer is over, and these will aid greatly in tho further development of the country. It is understood un-derstood that contracts have already-been already-been made not only for these new stoamcrs, but also for the rails, locomotives loco-motives and rolling slock sufticiont lo equip the railway itself from the const to the river and that the material is now being forwarded to Cordova. In addition to the lino from Cordova, Cor-dova, another line isalso under construction con-struction from Katalla, on the coasl, a considerable distance south of Cordova, Cor-dova, to the coal regions about thirty miles easterly-. Large numbers of men are now at work on this division. Ultimately Ulti-mately this branch, or division, of the railroad may be extended to the falls or rapids on the Copper river, and it is not impossible that it may be made the main line of the road to tho coast and that Katalla will become Iho principal prin-cipal terminus, as engineers have not yet determined whether Cordova or Katalla possesses tho best harbor. This question will probably be settled within with-in the next few weeks. The coal deposit de-posit which is to be lapped by this division, di-vision, is believed to be one of the. largest in the world. Its present, known area is about twenty miles in width by thirty miles in length. The coal is found near the surface and in some places is forty-five feet in thickness. Jt isa high grade bituminous and coking cok-ing coal, and the supply is so large that when the railroad is completed, it can bo so readily marketed that it can supply the coast from Capo Nome to San Francisco. The lapping -of this coal section will, it is claimed, be ono of the greatest factors iu the future development, not only of Alaska, but of the entire Northwestern Pacific coust. It is expected that the line from Cordova to tho rapids on Copper river, and from Katalla to the coal fields, will both bo in operation beforo snow flics. While many details yet remain lo be settled, construction has progressed far enough to insure traffic and passenger transportation for at least 200 miles into the Alaskan interior bofore winter sets in. This will enable more active operations to be carried on in tho copper cop-per region on 'the upper river, where developments are simply awaiting transportation facilities. Large tracts of mineral lund have already beeu taken up in this district by such interests in-terests as X P. Morgan & Co., the -Guggenhoims, .lames Philips. Jr., and W. B. Thompson, while others are coming com-ing in rapidly. It is the confident belief be-lief of all parties who have taken up lauds in this part of Alaska, that it is the greatest copper district ever discovered, and all that is necessary to prove their belief is the completion of tho facilities now under way. It is the intention of tho builders of the Copper River S: Northwestern railroad to extend it ultimately not only along the Copper river valley, but into (ho interior of tho country for oOO to 1000 miles further; but fuliiro construction will depend entirely on developments ahead of Ihe prcseut prospective terminus. |