Alaska Gold Mines Co. - Stock Certificate

Alaska Gold Mines Company Convertible Gold Debenture - Sheep Creek. Beautifully engraved stock certificate from the Alaska Gold Mines Company issued in 1915. This historic document was printed by the Republic Banknote Company, Pittsburgh, PA., and has an ornate border around it with a vignette of an eagle. This item has the signatures of the Company’s officers and is over 90 years old.

Alaska Gold Mines Co was the sole controller of Alaska Gastineau MC, which began production in 1911. The mine properties were located within the Juneau Gold Belt near the Bastineau Channel at the mouth of Sheep Creek. The company operated through several shafts to depths of about 1500 feet, with many miles of tunnels. One of the directors, D. C. Jackling, was a famous mining engineer. The Mines Handbook (1925) states that the gold occurrence was very promising and resulted in mining of nearly 6,000 tons of ore a day for the next 10 years. In 1920, total tons to the mill was nearly 2.2 million. Unfortunately, the cost of production, at $0.82/ton, was considerably more than the resale value of $0.69/ton. The mine began shutting down operations and selling off mining equipment in 1921. Plans were made to alter the mill to produce wood pulp or some other product; whether this was successful is unclear. In addition to the mine proper, Alaska Gold Mines Co owned several hydroelectric power plants that supplied power to Juneau, the income of which covered all expenses. Mines Handbook - 1931