Details Of How U.S.
Govt. Will Aid The
Mines Loans $20,000
Loan Program Is Not Applic
able To Prospecting But
Must Go Development
DETAILS LIVEN
Mortgages Are Required: Not
Necessarily On Mining
Property Also Personal
(By The Associated Press)
DENVER, July — In a special
folder received regulations for RFC
loans to miners are clarified—the
law for loans to individuals. Con
densed they are: The sum of $10,
000,000 is made available under par
tnerships or corporations for min
ing. milling and smelting purposes,
with no single loan to exceed $20,
000. Two typos of loans are provided
for: one for general mining, mill
ing and smelting purposes, and the
other for development purposes to
qualified borrowers whose prospects
of successful development are deem
ed good.
Mortgage Required
Non-metallic enterprises are not
eligible for loans under the regula
tions. Under the first group, esta
blished enterprises, loans may be
made for construction, improvement
repair, equipment purchase and oth
er fixed capital purposes and also to
provide working capital. Under ap
proved circumstances incidental por
tions of the loans may be used for
tax payments. The amount of any
loan is limited to what will be reas
onably required for the purpose
specified. Such loans are secured by
mortgage on the mining, milling or
smelting property or by lien on real
or personal property independent of
the mining venture. In short, the
loans must have “sufficient security"
in the judgment of the corporation.
Where mining property is offered as
security, enough ore must be block
el out to establish the value claim
ed.
Cost of Examination
Applicants for this type of loan
are required to make a deposit to
cover the cost of examination by re
presentatives of the corporation.
Under the second group, loans for
development, loans may be made to
individuals partnerships or corpora
tions engaged in development of a
quartz ledge or vein or other ore
body or placer deposit containing
gold, silver or tin, or gold and silver.
Loans may be made when in the
opinion of the corporation there is
reason to believe that the develop
ment will result in sufficient value
to pay a mining profit. ,
In this group, aso, loans are lim
ited to the amount reasonably re
quired for the purpose specified, and
in no case may any loan in either
group exceed $20,000. The security
offered must be satisfactory to the
corporation and the corporation may
deduct a reasonable amount from
the loan for examination.
General Rules
General provisions applying to
both classes of loans are outlined as
follows:
Interest in each case is determined
by the corporation, and the corpora
tion also fixes the maturity date of
each loan. No loans will be grant
ed for purchase of mineral agencies
nor for promotion or prospecting
purposes.
Applicants who have substantial
indebtedness upon properties offered
as security for loans, must work out
an arrangement with existing cred
itors which will satisfy the corpora
tion, and no money will be disburs
ed on any loan until a mortgage has
been duly executed and recorded or
other security assigned and pledged
to the corporation’s satisfaction.
Loans will be disbursed in install
ments as required.
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-o
The Nome Daily
NUGGET
Young Man Sees
For First Time
Is Disillusioned
_
Was A great Disappointment
Discover Things World
Were Some different
GLAD SEE AGAIN
Human Beings Not As Youth Bom
Blind Had Imagined lie Says
(By The Associated Press)
LONDON, July 9, — David Wil
liams, a 19-year-old stock Welshman
now in London received his sight
the other day by an operation after
he had been totally blind from baby
hood. During his boyhood he had
been instructed as though he were
permanently blind.
When he recovered his sight, know
ing no other chirography, he wrote
in Braille to his teacher Lenora Da
vis, at Bangor, North Wales, in part
as follows:
“I have had a great disappoint
ment in seeing human faces. My
ideal was far too high and in a way
I have had to come down a lot.
"I will give you what I imagined
a human being was like. Take for
example, a tall and slender man. I
thought he was big from the ground
up and that a slim persons was some
thing cylindrical like a walking
stick.
"A man who was broad I imagin
ed was the same shape as a cricket
bat and that all faces were peaceful.”
A representative of The Daily
Telegraph of London, who saw a
transcription of the letter, asked
Williams to tell more of the new
world he beheld and was answered:
"My ideas of what people look
like come mostly from reading I
had to build up everything in , my
imagination. Now that I am more
used to things as they are, I find
people tremendously interesting, and
of course, I am overjoyed at being
able to see.”
Williams, taken sightseeing in
London, found the rush of traffic
rather frightening. At home he re
pairs shoes for his living, and in due
course he will return to his job—
for the first time able to sec the tools
he uses.
Fire Alarm Boxes
Box 13 . . At Oltoson's
Box 14 West of I,omen Com.
Box 23 1.inton and 3rd.
at Brewsters
Box 25 .. Catholic Church
Box 31 . 1st and D,
at Rynnings
Box 32 . North I) St.,
at Andcrsons
Box 33 . Nohalico
Box 42 . Hospital
One blast of Siren, fire East of
Fire Station; two blasts of siren,
fire West of Fire Station.
Soviet Opens Drive
To Save Children
Accidental Deaths
STOP FATALTIES
583 Accidents, 87 Fatal, On Mos
cow’s Streets Bring Campaign
(By The Associated Press)
MOSCOW, July 9 —Soviet auth
orities, who recently launched cam
paigns against faulty educational
methods and parental neglect that
contribute to hoodlumism and juv
enile crime, have started a new
drive to reduce the appalling toll of
children's accidents on Moscow
streets.
There were 583 such accidents in
the first quarter of this year, of
which 87 were fatal. These acci
dents are partly caused by the na
tive mischievousness of children and
partly by the dangerous nature of
Moscow traffic.
Soviet children love to steal rid
es on street cars, trucks and auto
mobiles as much as capitalist young
sters do, and Moscow street cars in
rush hours are frightfully overcrowd
ed, with clusters of men and wom
en hanging on outside.
Policemen have been stationed at
47 points to correct this, and groups
of volunteers and teachers are help
ing. In the past three months the
parents of 2701 children have been
[warned and 22 children who were
I found to be parentless have been
placed in homes.
—
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about the re building of Nome.
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LEON F. HARPER,
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f pick lip news and never pay.
I know I am, not just a cheat,
Or neither am I, a deadbeat.
By rights a paper I should buy,
And not sponge on the other guy.
Tlie editor that runs the press,
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So stop and think my fellow men,
Buy your own news, as best you can.
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Pay as you go, from time to time.
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When’s gets a dime from every hand.
By A. Van Temmen
Nome, Alaska.
OLD
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IT’S THE FINEST GIN
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TRY OL1) MR. BOSTON
TODAY • SLOE CilN
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BEN BURKE, Inc., Distillers
Boston .... Mass.
W. J. LAKE & CO., Inc.
Distributors . . . .Seattle.