H. M. Wallace, of Ann Arbor. was n Detroit last uight. He is preparing, ays the News, to return to the .Klondike, where he went last year with 16 men, who remained while Wallace came back to straighten ont certain egal matters involving their claims. Wallace, jnst oat of college, became a stockholder in the Klondike, Yukon & Oopper River Co., capitalized at 512, 000,000, and which had half a dozen congressmen among its hackers. With eight men from Ann Arbor, and is many more from Dowagiac, Wallace started for the Klondike. He says hat be found the company had been engineered by men who had no abihty as managers, and that the money had been expended uselessly. 3e borrowed money to get his men nto the country, and found rich claims, just as the company began litigation against him. Wallace says he will return m the suniraer, taking with aim dredges for getting earth from tbe iottom of the streams. This method of miuing, he says, has not been tried n the Kiondike, and he predictsgreat things for it.