To Expedite Loans to
A new program for expanded
commercial bank participation with
the Small Business Administration
to encourage more private financ
ing and to speed up handling of
loans to small business was an
nounced today by SBA Administra
tor John E. Horne.
The new bank participation pro
gram, which establishes simplified
and streamlined procedures to fa
cilitate small business loans, will
be put into effect immediately
throughout the country.
Under the new cooperative pro
gram, a bank may participate with
SBA in a loan to a small,business
with the government providing up
to $350,000 in funds for any one
loan. The participating bank must
take at least a 25 per cent share in
the loan. The interest charged on
SBA’s share of the loan is 5*4 per
cent, except in officially designated
areas of substantial unemployment,
where it is 4 per cent.
The bank may set the interest
rate on its share of the loan.
In announcing the new loan pro
gram Mr. Horne said: “The simpli
fied bank loan participation plan
has the immense advantage of per
mitting us to rely upon the bank’s
credit judgement which is based
on its knowledge of its customers
and its experience in the banking
field.
“In the interest of speed and ef
ficiency all paper work has been
stripped to the bare essentials in
this joint government - industry
program.”
“The plan has been devised to
speed up the SBA loan service. The
banks will be permitted to use their
own forms or mortgages, agree
ments, etc., and will service the
loans for us. To help speed up dis
bursement of bank-serviced im
mediate participation loans, the
necessary loan document will not
be examined by SBA prior to dis
bursement but immediately there
after.
“The SBA will continue its other
business loan programs to assist
small firms, including direct loans
when bank participation cannot
be obtained,” Horne stated.
Kod lak-Aleutian
Realty Services
Properties
Land
Business
Franchised Dealer for
Lockwall Homes
APPRAISALS
LIFE INSURANCE
Notary Public
Staff Licensed and Bonded
by
State Real Estate Commission
George H. Cornelius, Broker
For Appointment Call 486-2960
SUNDAY SPECIALS
Rhubarb Pie.6001 ,
Peanut-Cluster Cookies.400 „
NAUGHTOrS BAKERY
Open Day & Nite
Phone 486—2600
KNUDSEN’S OUTFITTERS
Who doesn't Look Nice in a Pair of
TIGER GRAND SLACKS?
If You Wear Size 6 or Size 20
We Have Just The Pair to Suit You
Check Our
CLEARANCE COUNTER
For A Good Bargain
Remember — You Can Find Anything You Need
AT
KNUDSEN’S OUTFITTERS
YOUR HEADQUARTERS FOR SHOES
AND CLOTHING NEEDS
On The Screen
Tonight—“Tall Story”—about a
tall girl seeking a husband on a
campus among tall men.
Saturday — “Babette Goes To
War”—Miss Brigette Bardot, the
French pepperpot, plays a French
country girl in London who is para
chuted into G e r m a n-occupied
France to help kidnap an import
ant German general. Light comedy
filmed in CinemaScope and East
man Color.
Sunday and Monday — “Polly
anna”—A most impressive cast in
the Walt Disney filming of the
perennial Eleanor H. Porter best
seller, with Hayley Mills in the
title role. Others in the cast include
\
Legal Notice
NOTICE OF ELECTION
Notice is hereby given that the
annual election of the Kodiak In
dependent School District will be
held on the 3rd day of October,
1961, between the hours of 8:00
a. m. and 8:00 p. m., at the City
Hall, Kodiak, Alaska, which elec
tion will be held in conjunction
with the annual City Election.
One Board Member will be
elected to serve for the term of
five (5) years, or until his succes
sor is elected and qualified.
Nominations will be accepted by
Dorothy Clark, clerk of the board,
at the Kodiak Public School Office,
from date hereof until 6:00 p. m.,
September 18, 1961.
Nominations shall be made by
party convention submitted in
writing over the signature of the
President and Secretary of such
party or organization, or by peti
tion by not less than twenty (20)
qualified voters. Candidates so
nominated may withdraw from the
Ballot at any time prior to 6:00
p. m., September 25, 1961, by state
ment acknowledged before a No
tary Public and delivered at the
Office of the Clerk in the Kodiak
Public School building prior to said
time. A candidate must have the
qualifications of a voter: i.e., a
citizen of the United States, nine
teen (19) years of age or over, an
actual and bonafide resident of
Alaska, who has been such resident
continuously during the entire year
immediately preceding the elec
tion, and who has been such resi
dent continuously .for thirty (30)
days next preceding the election in
such school district, and who is
able to read and write the English
language as prescribed by an act
of the United States Congress on
March' 3, 1927, entitled, “An Act to
prescribe certain qualifications of
voters in the Territory of Alaska,
and for other purposes.”
DATED this 30th day of August,
1961.
Dorothy E. Clark,
Clerk of the Board
Publish: September 1, 8, 15, 22,
1961.
• Excellent for conversion Into reefer
or smaH freighter. Will haul 500
| /wo tons.
• Draws six feet of water loaded .
approx. S empty.
• Dimensions: 104' x 24' x II'
Approx. 290 tons.
• Main Engines: 8 . . . 4-71 GM die
s.!s form Quads. 3 . . . 3-7IGM
diesel auxiliaries.
• Direct hydraulic engine controls
from wheelhouse.
• Located in Seattle. Wash.
Available immediately. fj
COURTESY TO BROKERS j
Contact:_
Nancy Olson, Jane Wyman, Rich
ard Egan, Karl Malden, Adolphe
Menjou, Agnes Moorehead, Kevin
Corcoran and Donald Crisp. Story
of a little orphan girl with a “glad”
philosophy. She goes to live with
her aunt, who practically runs the
town in which she lives.
Tuesday and Wednesday—“The
Atomic Submarine” tells what hap
pens when an unknown enemy’s
latest weapon goes on a rampage
of death and destruction on Ameri
can submarines and surface craft
in the arctic sea. The American
atomic sub comes to the rescue.
On the same bill is “Walk Like a
Dragon,” an unusual Western
about a Westerner, who, out of pity,
buys Nobu, an Oriental slave girl
in an illicit San Francisco market
during the 1870’s and eventually
falls in love with her. A Chinese
immigrant also wants the girl.
Trouble brews.
Thursday and Friday — ‘The
Crowded Sky”—probes the conflict
ing emotions and inner secrets of
the passengers and crews of a
transcontinental airliner and a
y
Navy jet fighter involved in a col
lision. Stars Dana Andrews, Rhon
da Fleming, Efrem Zimbalist, Jr.,
John Kerr and Keenah Wynn.
If you have something to sell
try a classified ad in the Mirror.
It will be fitting enough, if any
one throws shoes at Peter Janci’s
wedding in Kitchener, Ontario. He
met his English fiancee through a
size 6 black boot. Janci, a boot
packer in 1948, tucked his address
into the toes of 2 pairs of women’s
boots. Later in England, a clerk,
Gwen Honeywell, unwrapping the
shipment in a Suffolk store, found
the notes, and wrote to Peter.
They’ll be married this fall.
STUDENTS
THERE IS STILL TIME TO ENROLL IN COLLEGE
♦
THERE IS ROOM FOR YOU AT SHELDON JACKSON
The College Department at Sheldon Jackson invites
you to write or phone about admission to the 1961
classes. Scholarships are available.
REGISTRATION — SEPTEMBER 11
Sheldon Jackson Junior College
Sitka, Alaska
Pop in for a popover
_ /
Pendleton’ tunic
The single sampling shown here
can’t do justice to the Pendleton
tunics we’ve selected for
your easy-living pleasure.
From 4-color herringbone
squares and countryline plaids,
you’ll want several to match
with Pendleton skirts
for that one-piece look—
or to team with solid-color J
skirts for wardrobe versatility. Jj
Come see! Come soon! J|||
• FLATTERING MID-HIP LENGTH
• WELTED COLLAR, V-NECK
• BRACELET-LENGTH SLEEVES
• FABRIC TIE-BELT
Country clothes by Pendleton
ALWAYS VIRGIN WOOL
t '
Donnelley &
Acheson
Ladies Wear