Holroyd and Holt, who had joined the party at Smith's Landing, and by Mr.Simpson, went off on a prospecting tour through the north-east portion of Great Slave Lake, staking, _en route_, a number of claims, some of which were valuable, others worthless.

The untruthful statements, however, of one of the party, who represented even the worst of the claims as of fabulous value, brought the whole enterprise into disrepute.

The members of the party mentioned returned to England ostensibly to raise capital to develop their claims, but nothing came of it, not because minerals of great value do not exist there, but on account of remoteness and the difficulties of transport.
In 1898 another party was formed in Chicago, called "The Yukon Valley Prospecting and Mining Company," its chief promoters being a Mr.Willis and a Mr.Wollums of that city.

The capital stock was put at a quarter of a million dollars, twenty-five thousand dollars being paid up.

These organizers interested thirty-three other men in the enterprise, the agreement being that these should go to Dawson at the expense of the stockholders, and locate mining claims there, a half-interest in all of which was to be transferred to the company.