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Fairbanks Into
l lilitics Business
FAIRBANKS, uTb—The ci y of
Fairbanks was ready today to go
into the utilities business full scale
after the city councli accep e«i a
New York firm’s offer to finance
a Si 000,000 program.
The B. J. Van Ingen company
off re i to handle the financing at
inter *s‘ of four and one-half per
cent. It added the money would
be ready not later than May 30.
Col. CI. W. Rathjens, u ilities
consuTant, said this permits the
city to place orders at once for a
Oil-kilo watt power generating
plant, a water treatment plant and
an automatic telephone system.
The power project, however, is
being held back while the council
studies a proposal of the U. S.
Smelting, Refining and Mining
Co., to provide power from its
9,000-kilowatt plant used in min
ing operations.
Rathjens said this plant cast less
to build several years ago than the
smaller plant contemplated by the
city, because of increased costs.
The city now operates a telephone
system, is buying power from the
Northern Commercial Company
and has no municipal water sys
tem.
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Better Service
I\A.A. and A.O.A.
Announce Merger
NEW YORK. i/P) — Pan Ameri
can World Airways and American
Ove seas Airlines have agreed to
the biggest merger in American
commercial aviation.
P Ians for consolidation of
American Overseas’ routes to
eleven countries in Europe with
Pan American’s trans-Atlantic
services were announced by both
companies last night.
Routes and assets of American
Overseas Airlines would go to Pan
American in exchange for Pan
American stock. After this stock
was distributed, American Over
seas Airlines would be dissolved.
The merger agreement is sub
ject to approval by the stockhold
ers of both concerns and the civil
aeronautics board.
Pan American is the largest in
ternational air carrier, and Ameri
can Overseas Airlines is a subsid
iary of American Airlines, the na
tion’s largest domestic carrier.
The merger would leave only
the other U. S.-flag line operating
trans-Atlantic air service—How
ard Hughes’ Trans-World Airline.
Hughes, who was not immedi
ately available for comment, at
tacked Pan American’s policies
before a Congressional investiga
ting committee a year ago. Hughes,
T.-W-A.’s largest stockholder, said
Juan Trippe, president of Pan
American, was attempting to or
ganize an international air travel
company monopoly and to force
T.-W.A. to merge with it.
C. R. Smith, A.O.A. president,
said the merger was planned be
cause of: “slow revival of trade
between .he U. S. and Europe; the
fact that the foreseeable volume
of business does not justify the
continuation of three competing
U. S. carriers on the North Atlan
tic rou e; the increased subsidy
which will be required to sustain
free carriers; and the difficulty
of securing the additional capital
which will be required for the fu
ture.’’
FSA Director
Returns From
Conferences
Hugh J. Wade. Territorial *di
•rector of the Federal Security
agency, returned recently after a
three-week absence, atten ding
bureau of employment security
meetings in Denver, Colo., and
Washington, D. C.
While in the capital, Wade con
ferred with F.S.A. officials on the
recommendations that Oscar
Ewing, Federal Security adminis
trator will make to the President
concerning changes in the present
social security- act.
Some of hi recommendations
are: Extension of the old-age and
survivors’ insurance features of
the act to small employe s >;•, ner
i ally referred as the ,*e f'-c n >1 yed'
hto domes ic and a ;r cultu r a 1
workers, members of non-profit
t institutions, State and local gov
ernment employees (not including
employees of the federal govern
ment in civil service positions) and
mmbers of the armed forces.
B e s i d es extended coverage,
Ewing also will recommend that
the present benefit schedule be al
most doubled. This proposed in
crease in the amount of hte bene
fit payments necessitated his in
cluding a recommendation that the
social security tax be increased
from one per cent to one and a
half per cent, and that it be levied
on the first $4,800 of earnings in
the calendar year. The present act
' provides for a tax on only the first
1 $3,000.
Fairbanks Fires
Brill" Limit
p
On Insuranee
FAIRBANKS, </P) — This ciiy\s
record of costly fires, which has
been earning it a reputation as
“the town that fire insurance
built,” is bringing an increasing
insurance problem.
Men who write the policies
here predict that it may shortly be
even harder to buy fire loss pro
tection.
In a rev ew of the insurance
situation. George Meyers wrote in
the Daily News-Miner:
"In 1945, a single agency here
represented 23 companies willing
to insure Fairbanks mercantile es
tablishments against fire. Other
companies were eager for repre
sentation.
"To day the same agency repre- j
sents a firm which in 1939 would i
accept a policy risk up to $35,000
for a business building. Today in
surance firms of similar assets :
have clamped a $2,500 limit on
policies for structures in the same
block. The original firm, the will
ing firm of 1939, has been "burn
ed out of business. . . .
"Insurance agencies warn that
unless the city rids itself of fire
hazards and bolsters its fire pro
tection facilities, there may come
a time when on insurance at .ill
will be available.
"It’s a warning based on p^evi
California Feeta
Fartliquake
PALM SPRINGS. C'V.
Another earthquake sh
winter resort eommunit; Satur
day but residents shrugged it off
as “something we’re ge“ 2 use ’
t > now.
Dr. Charles Richter, ■€ molo
gist at California Institute of
Technology in Pasadena, timed
the jar at 3:12:46 a.m. Pacifit
Time' and described it a- “good
sized.”
He said the tremor and one ex
perienced litre Friday .• *• the
strongest of the aftershock- chick
customarily follow a big quakt
like the one which rocket: all o'
Southern California a week ago.
During the week there ha t bcc
other, lesser tremors.
The Palm Springs police depart
ment said Saturday’s quake was
"a nice, rolling one.’’ It lasted
about 25 seconds. There was no
eported damage.
Three more lucky winners of
turkeys are Mrs. C. F. Yenney.
M a r g uerite Glavinovich and
George Madsen. Two turkeys re
main unclaimed with numbers
6241 and 5047.
I
■
, ous experience.
Alter the devastating :ure of
1919—the city's second greatest
; lire loss—no company would risk
, fire protection in the city for
, hree years.
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ALL WELCOME
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