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They had operated a floating dredge, kind of a little cousin to the floating gold dredges used near Nome, Dawson and Fairbanks, for decades, gouging out the stream beds where the cassiterite ore was concentrated and shipping out one barge load of 3200 pound 55 gallon drums each fall.

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The Klondike Gold Rush was sparked in 1896 by the discovery of gold at Rabbit Creek (also called Bonanza), a tributary of the Klondike River. Miners had been slowly filtering into the Yukon interior through the Chilkoot pass and began fanning out in the area as early as the 1880s.

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Originally owned by the Milwaukee-Alaska Gold-Dredge Mining Co. Sold to the British-American Steamship Co. (Frank Waterhouse, Ltd.) in 1899. Resold to the Seattle-Yukon Transportation Co. in 1900. Transferred to Northern Navigation Co. in 1901.

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