$3,000,000 In A Flash

Long ago- in 1863-4- tbere was do cable between Europe and America. Transatlantic news - even during the exciting episodes of the civil war - was ahvays about a fortnight old. The attempt to make a cable connectiou had ended disastrously, and in this junction of affairs was organized a gigantic enterprise looking to the connection of the United States with Europe via Klondike and Bering sea. Most electricians and telegraphic experts had made up their minds that 40 miles - which was the distance across the strait - represented the longest a submarino cable could be successfully worked. A company was formed, and what was known in those days as Kussian Extensión stock went off at a premium of 60 per cent. In 1865 the line between New Westminster and the Yukon river was surveyed, found to be practicable and traversed completely the present Klondike región. The line was expected to be finished in 1867. Even the tariff for messages was fixed at L5 ($25) per message. The receipts were estimated to yield about 19,000,000 per annuai. The line was actually constructed from New Westminster along the present route of the Canadiau Pacific railway to Ashcroft, where it was continued north toward Bering soa to Fort Stager, 300 or 400 miles bevond Qufsnelle. This line is at the present moment in operation in a portiou of the Caribou country. Then, in the midst of the whole business, after three years of hard work, carne like a tbunderolap the news that the Atlantic cable was a success. Three million dollars had been expended, yet the next day Russiau Extensión stock was not worth the printer's ink on its surf