Yukon Consolidated Gold Corporation Limited

Yukon Consolidated Gold Corporation Limited

The Yukon Consolidated Gold Corporation Limited (Y.C.G.C.) was established in 1923 and operated in the Klondike gold fields until 1966. The company was originally established to acquire the interests of other dredging companies in the Klondike. Towards this end, Y.C.G.C. acquired Burrall and Baird Limited, New North West Corporation Limited and Canadian Klondyke Power in 1925. Two years later Y.C.G.C. acquired Yukon Gold Company's remaining assets in the Klondike. Treadgold was removed from managing the company by the Y.C.G.C. Board of Directors in 1930 after it became evident that under his management the company was slowly deteriorating. His association with the company was completely severed in 1932, following a court ruling which ordered his shares in Y.C.G.C. cancelled. Following Treadgold's removal as manager, the Company underwent a rebuilding process. In 1931, under the direction of Andrew Baird, Y.C.G.C. operated five dredges, and successfully met all of its obligations, as well as recording a cash surplus. The rebuilding process continued under W.H.S. McFarland who was appointed General Manager of Y.C.G.C. in 1934, and remained in that position until 1947. Throughout the 1930s McFarland embarked upon an expansion programme for Y.C.G.C. This programme included the construction of new support facilities, and the purchase of three new dredges. The growth and prosperity Y.C.G.C. experienced in the late 1930s was in large part due to the abundance of cheap labour and materials. These advantages were lost following the outbreak of the Second World War, and by 1941 Y.C.G.C. was faced with serious material and manpower shortages. During this period gold returns dropped from $2,617,277 in 1940 to $616,229 in 1944. Y.C.G.C. operations and production returned to pre-war levels in the period 1946-1949, however, this prosperity was short lived. Throughout the 1950s and early 1960s the company was besieged by a growing number of difficulties. Labour and material costs continued to increase, while the company's profits decreased due to shrinking gold reserves and the fixed price of gold. On November 15, 1966 the gold dredging era in the Klondike was brought to a close when the last of the Y.C.G.C. dredges ceased operation. Function: The company was originally established to acquire the interests of other dredging companies in the Klondike and to consolidate a number of smaller companies originally incorporated by A.N.C. Treadgold.

Yukon Archives