Gold Buyers Are
Willing To Pay j
Above Ceiling
__ ' I
I
(Continued from Page Three)
mined an estimated $400,000,000
in gold.
All that is figured with gold at
a value of $35 a fine ounce, the
price set by the American govern
ment January 31, 1934.
The South African government j
wants to sell for dollars a limited
amount of gold for a limited time
at a price higher than the old
standard set by the United States
and accepted officially by the
world.
South Africa would like to sell
100,000 ounces of 22-carat gold
during an eight-week period for
$38.20 an ounce. That would be
nearly $6.50 an ounce higher than
the United States price because
the gold they propose to sell is 22
carat, whereas the official $35
price is for 24-carat or 999 fine
gold.
As far as the average person
is concerned, there is one catch in
the plan, a proviso that the gold
may be used only for industrial,
artistic or industrial purposes.
You just can't buy the gold, stick
it in your pocket and walk away.
The International Monetary
Fund in Washington, which is the
policeman for the world’s mone
tary gold, said the idea was all
right, but shook a stern finger at
any thought that this might be a
forerunner to free gold trading
around the world. That, they be
lieve, would upset all currencies.
Public interest in gold was
quickened measurably by the
South African move and the atti
tude of the International Mone
tary Fund. An immediate reaction
was noted in the office of Bache
Sc Co., an old established Wall
Street brokerage house.
Bache sells gold in a free and
open market.
A number of companies in the
United States do the same thing,
but Bache probably has the larg
est business and almost certainly
the greatest number of inquiries.
Any resident citizen can buy
Bache gold in 100-ounce lets for
COUNCIL DISCUSSES
HARBOR. SCHOOL
In a short business meeting of
the Nome Common Council, the
Standard Oil Company’s request
for space or\ the harbor revetment
for the installation of oil-pumping
equipment was discussed and on
ordinance proposed.
The Standard Oil Company pe
titioned the City for the necessary
permit in order to install oil
pumping equipment to replace
army equipment which is to be re
moved to a site on the south side
of Snake River.
The Council members also
voted approval of a measure to in
stall “panic bars” on exit doors
at the Nome Public School.
Spring has sprung
Fall has fell,
Winter is here
And colder than-usual!
S39.50 an ounce. But it must be
gold dust, nuggets or gold flakes.
It can't be refined gold. Only the
government or licensed individu
als can handle that.
The Bache gold is 850 fine at
$39.50 an ounce as against 999 fine
at $35 an ounce for monetary gold.
That makes the 850 fine gold
about $11.40 an ounce higher than
monetary gold.
Sales have been made to all
types of people. Some come in and
start whispering about buying.
They have a feeling it is faintly
illegal. Others slap down currency
and demand the gold.
Most of the sales are made for
; investment or safe keeping of
money. Careful records are kept
of transactions, and all govern
ment laws and regulations cover
ing the deals are followed strictly.
The likelihood of gold going
down in price at this time is re
garded as remote. There are fre
quent rumors that the United
Slates will raise its gold buying
price or that the International
Monetary Fund will authorize
free and open trading above the
$35 price. There also are frequent
denials from official sources.
The most recent rumor insists a
new price of $42.50 an ounce will
be set.
WALLACE LIQUOR STORE
Phone Ma. 55 • For finest Liquors
JACK LENCER
Watchmaker
Box 625 Nome, Alaska
NEW JUST ARRIVED
Large Selection of Latest
DECCA
Records and Albums
Polar Curio Shop
A
Registrants May
Ask for Deferred
Classifications
.
—
Selective Service registrar! t s
now classified I-A—“available for
service” — who feel that they
should be placed in a deferred
classification should so notify1
their local board. The local board :
will then reopen their cases, if,
facts warrant, and reconsider in i
view of possible reclassification.
Maj. Gen. Lewis B. Hershey,
director of selective service, made
that statement today and also
stressed the legal obligation of all
registrants to keep their local
boards informed as to any change
in their selective service status or
change of address—regardless of
whether or not they have reached
the age of twenty-six, beyond
which men are not liable for serv
ice under the present selective
service act.
“The act is very explicit,” Gen.
Hershey said, “regarding the obli
gation of registrants to keep their
local boards informed concerning
change of address—where they
may be reached by mail, that is,
and also any change in their sta
tus as previously given to the lo
cal board. Registrants are not re
lieved from this obligation after
reaching their twenty-six'.h birth
day. Failure to comply is a viola
tion of the selective service act,
whether the registrant is over
twenty-six or under twenty-six.”
Gen. Hershey said that regis
trant! >n Class I-A who have rea
son to believe their classification
| should be changed are being
urged to ask their local boards for
reopening of their cases. This
would apply particularly to those
w’ho have new employment or
who find reluctance on the part of
employers to hire men in Class
I-A, although he added that he
had no reason to believe the re
luctance is in any way general.
General Hershey. quoting from
a letter sent to all state directors,
said that if the army is to be lim
ited to its present strength, then
obvoiusly additional personnel
will be required for replacement
purposes onyl, and there is the
possibility that voluntary enlist,
ments stimulated by the selective
service system will provide such
replacements.
"The existence of the selective
service system, it must be recog
nized, has been a contributing fac
tor to tho current results of the
recruiting programs of the armed
forces,” General Hershey said.
“The system must remain avail
able and ready in the event that
voluntary enlistments again be
come insufficient to maintain the
man-power requirements of the
armed forces at either their pres
ent or a greater strength. We
must assume that the present sit
uation is a temporary situation
which might be followed by other
conditions requiring prompt re
sumption of inductions.
“Accordingly, our actions in the
meanwhile must be such as will
enable us to resume deliveries of
man at any time that it might be
come necessary, and at the same
time give proper consideration to
the public and especially to the
individuals liable under the act.”
General Hershey said that local
boards, through the state direc
tors, had been given the follow
ing instructions:
2. Cancel all orders to report
for induction which might have
been issued for February induc
tions except those issued to de
linquents. Cancel all other orders
to report for induction outstand
ing after January, 1949, except
those issued to delinquents.
2. Cance lall orders to report
for armed forces physical examin
ation and issue no other orders to
report for armed forces physical
examination until instructions are
received to resume sending men
for examination.
3. Continue as usual to register
all persons required to register
under the Act.
4. Continue the mailing of
questionnaires.
5. * local boards will complete
the classification of all registrant
6. Normal action by appeal
boards will be resumed and cases
now before them awaiting trans
mittal or hereatfer arising, will be
handled in the usual manner.
7. Registrants who have been
classified should be reclassified at
any time there is a change in sta
tus requiring such reclassification.
Every classified registrant shall
be permitted to present any new
evidence he desires to have his
board consider, and the local
board is hereby authorized to re
open any case upon its own mo.
tion or at the request of a regis
trant, his employer or anyone
claiming to be a dependent of the
registrant. Emphasize the require
ment in the law that every regis
i trant shall keep his local board
| informed as to changes in his sta
tus. This applies to registrants
who have reached the age of
twenty-six as well as to all others.
8. Since all orders to report for
physical examination and all or
ders to report for induction have
been cancelled, and no registrant
will be under such orders until
the selective service system re
ceives another call, the director of
selective service has determined
that on February 1, 1949, and
thereafter until the national mili
tary establishment places a call
with the selective service system,
any registrant may volunteer for
enlistment in the regular army,
air force, navy, marine corps, or
! coast guard.
9. With the resumption of in
ductions calls will be levied so as
to cause men having the same
year of birth to be inducted dur
ing each induction period and to
avoid taking men of a younger
class from one area while sub
stantial numbers of men of older
classes are available in another.
. .. ...
World Shrinks As
Man Goes Faster
And Farther
FORT WORTH, Tex. (/P)—Nel
ly Bly should see the way they go
around the world now.
She was the traveler who start
ed off globe-girdling speed dashes
back in 1899 It took her 72 days,
six hours and 11 minutes by
steamship and train.
But she made much better time,
,.t that, than the first round-world
trip by planes.
On April 6. 1924. four army
planes took off from Seattle, head
ing west. By short jumps and
long waits for weather, supplies
and such they hopped across the
Aleutians, down through India, up
to England, back to the United
States. Only two of the original
planes finished the flight. It too’-.
175 days, of which 14 days and lb
hours was actual flying time.
In 1929, the German dirigible
Graf Zeppelin made the globe
circling trip. Her time was 20
days and four hours from Fried
richshaften to Friedrichshaften,
the distance 21,700 miles.
The late Wiley Post made two
trips. In 1931, with Harold Gatty
as navigator, he flew a northern
route of 15,474 miles in eight days,
15 hours, 51 minutes. In 1933 fly
' ing alone he covered roughly the
1 same route and distance in seven
days, 13 hours 49' 2 minutes.
Howard Hughes, airplane de
signer and former Hollywood pro
ducer, flew around by way of
Russia, 14,824 miles, in three days,
18 hours 8 minutes 10 seconds in
1938.
I
In 1947 William Odom, with
Milton Reynolds, flew a converted
I air force medium bomber over a
'20,000 mile route in elapsed time
of 78 hours, 55 minutes, 72 sec
onds.
j Between Nelly Bly’s time anc
j today there were many world
circling trips made by a variety
j of means, but until today none
| was non-stop.
O fihe 2,500,000.000 pounds of
! candy produced in 1943. about 20
| per cent was shipped to armeci
forces in the United States and
'abroad.
Scotty’s
Liquor Store
presents
YOUR FAVORITE BRANDS
BLACK 160
Order Of The Walrus
MILK FUND BALL
March 5—9:00 P.M. $1.00
High School Gym Informal