• Creator
  • Evans and Anderson
  • Created Date
  • 1905
  • Description
  • A young real estate man named John Ballaine envisioned a trans-Alaska route to the Yukon believing inland Alaska would "develop diversified resources including gold and other metals, timber, coal and agriculture to sustain the industrial population." In 1902 Ballaine and other highly optimistic Seattle businessmen invested $30 million into a new railway claiming, "The extraordinary powers of the road will enable it to bear all fixed charges an... more
    A young real estate man named John Ballaine envisioned a trans-Alaska route to the Yukon believing inland Alaska would "develop diversified resources including gold and other metals, timber, coal and agriculture to sustain the industrial population." In 1902 Ballaine and other highly optimistic Seattle businessmen invested $30 million into a new railway claiming, "The extraordinary powers of the road will enable it to bear all fixed charges and pay large dividends..." They issued 550,000 shares of common stock at $50 per share and 50,000 shares of five percent preferred stock (First Mortgage 5% 30-Year Gold Bonds). A survey and construction party of thirty men arrived at Cook Inlet in 1903. This party was made up of a skilled locating engineer, topographer, assistant engineers, transit men and levers, chainmen, rodmen, axemen, cook and cook's assistant. Offices were setup in the Shackleford Mining Company house (in the future town of Seward). The crew organized a pack train for... less
  • Format
  • Photograph
    image
    Scanned from a photographic print using a Microtek Scanmaker 9600XL at 100 dpi in JPEG format at compression rate 3 and resized to 768x600 ppi. 2004