HYDER - FIRST ALASKA TOWN THAT CAN BE REACHED BY PAC1FIC-YUKON-ALASKA HIGHWAY
SPECIALIZING IN
MINING NEWS OF THE
PORTLAND CANAL
DISTRICT
HYDER WEEKLY HERALD
SUBSCRIPTIONS
83.00 PER YEAR
IN ADVANCE
VOLUME 11, NUMBER 8.
HYDER, ALASKA, SATURDAY, OCTOBER 27, 1934.
SINGLE COPIES 10 CENTS
GLACIER CREEK TUNNEL
CUTS FINE ORE BODY
Eight feet of good grade ore
was cut this week in the tun
nel run under contract by Stu
art Barclay on the Glacier
Creek property, according to
Stewart reports.
The ore, which was located
first by diamond drilling sever
al years ago, is said to carry
values ranging around $30 a
ton in gold and silver, making
it of good shipping quality.
The formation is said to be
pyrite and galena.
-e-•-—
Good Progress On Railway
About one and one-half miles
of right of way has been
cleared on the route of the pro
posed extension of the Canad
ian Northeastern Railway and
a grade is being run along the
mountain side at American
Creek, according to an an
announcement made last week
in Stewart by Andrew McCul
loch, engineer in charge of the
construction program now be
ing carried on by the Consoli
dated Mining and Smelting Co.
Some 60 or 70 men are em
ployed on the construction,
which will be continued until
weather conditions make fur
ther operations impractical,
Mr. McCulloch said.
■o
Dunwell Makes Ore Shipments
Fifty-six tons of ore concen
trates from the Dunwell mill
left this week for the :outh on
the ore freighter Griffco. A
scow-load of silicious ore was
also sent to the Granby smelter
at Anyox.
Owing to activities being con
centrated in other directions no
shipment of high-grade was
made this week.
-o
Capt. MacKenzie Passes Away
Word has been received in
Stewart of the recent sudden
death cif Capt. Charles A. Mac
Kenzie, mining engineer and a
prominent figure in the early
day activities of this camp.
Death was attributed to a heart
attack.
The deceased was 75 years of
age and is survived by a w!d
ow and one daughter, both of
whom reside in England.
Capt MacKenzie was associ
ated at times in the ownership
and exploitation of various lo
cal mining properties, includ
ing the Prince John and M. C.
groups in the Stewart section.
Japan Frowns On Aleutian
Islands Fortification By U.S.
Japan does not approve of
the fortification of the Aleu
tian Islands by the United
States and will undoubtedly
undertake determined efforts
to prevent it at the forthcom
ing international naval confer
ence, judging from the tenor of
recent London reports relative
to the tri-power naval conver
sations now in progress in the
British capital.
Admiral Is,oruku Yamamoto,
head of the Japanese delega
tion, is reported to have indi
cated plainly that Japan is
opposed to fortification cf the
Aleutian area and contends
that such action by the United
States is restricted by an ex
isting treaty. Yamomoto was
quoted as saying that he does
not believe the United States
will undertake fortification of
the islands unless this treaty
is revised or terminated. On
the other hand he had no ob
jection to the strengthening of
the British naval base at Sing
apore and said Britain was
within her rights in doing so.
From which we deduce that
Alaskans will find more than a
cursory interest in the naval
conference proceedings.
o
Alaska Juneau Shows
Profit Gain in September
Operating profits of the
Alaska Juneau mine in Sep
tember totaled $146,000, ac
cording to the a report issued
by general manager L. H.
Metzgar. This represented an
increase of $5,000 as compared
to August and was obtained
from 369,860 tons of ore mined
and trammed.
In August 357,000 tons were
mined and trammed. The av
erage recovery for September
was 99.76 cents a ton. The av
erage for August was 99.51
cents a ton.
On the basis of $35 an ounce
for gold, the gold recoveries
were valued at $367,000, or an
average of 99.22 cents per ton
of ore handled. Silver and lead
recoveries totaled $2,000, an
average of .54 cents a '.ton.
Mining, tramming and mill
ing costs totaled $191,500, an
average of 51.77 cents per ton.
Expenditures for labor and
supplies in Juneau totaled $20
500 for the month, according
to the report.
-o
R. Moore of Prince Rupert,
manager for nort hern B. C. of
Burns & Co., was a visitor dur
ing the stay of the Prince
George Thursday.
BANK RECEIVER
ANNOUNCES FURTH•<
DIVIDEND PAYMENT
Deposit creditors of the insol
vent Bank of Hyder will re
ceive next Monday a Receiver’s
check representing a pay i<?nt
olf 714 per cent of the amount
due them under their claims, it
was announced late this week
by Receiver E. D. Haddon.
The payment will bring to a
total of 90 per cent the amount
so far returned to depositors
under the receivership and fur
ther dividends are confidently
expected before the receiver
ship is closed, according to Mr.
Haddon.
How soon additional pay
ments can be made is depend
ant upon how soon the remain
ing assets can be converted in
to cash.
Taking into consideration
Ithe severe local conditions and
resultant difficulty in liquidat
ing securities, the record of the
receivership so far has been an
exceptional one. Statistics show
that comparatively few insol
vent institutions return as much
as 90 per cent on outstanding
claims, even under far more
favorable conditions than have
prevailed in Hyder during the
past four years. That Receiv
er Haddon has been able to do
so slpeaks volumes, not only for
the administration of the re
ceivership bult also for the
management of the bank’s af
fairs prior to its unfortunate
dissolution under pressure of
unavoidable economic and in
dustrial conditions incident to
the great depression.
o
Community Church Service
The first of a proposed series
of monthly Community Serv
ices will be held at the Hyder
M. E. Church Sunday evening,
starting at 7:30 p. m. There
will be music, singing, a talk
by Rev. G. A. Harvey, pastor,
and refreshments will also be
served.
The Community Services are
planned to supercede for the
present the usual weekly
services, which cannot be suc
cessfully maintained under
present conditions. Those in
terested in the movement are
hopeful that everyone will co
operate to make them a suc
cess, which will be easily ac
complished if everyone will at
tend, and a cordial invitation
is extended to all residents.
o
William Dann, manager of
the United Empire mine, left
Monday evening on a business
trip Ito Vancouver.
United Empire To Launch
Diamond Drilling Program
An extensive diamond drill
ing program will he launched
shortly on the United Empire
property to supplement the un
derground development now in
progress, according to an an
nouncement by manager Wlill
iam Dann last week.
Two compressors are now in
operation on the property, pro
viding ample power for drift
ing and also for !:he proposed
drilling operations.
The company has secured
from Charles Bibeau an addit
ional 5-acre tract of land ad
jacent to the lower tram termi
nal, on which it is proposed to
start construction of a 150
ton concentrating plane early
next spring.
--o
Rotary Snow Plow Proposal
Of Stewart is Denied
Efforts of Stewart citizens to
induce the provincial govern
ment to provide a rotary snow
plow to keep the roads open to
the mines in winter appear tc
have Kttle prospect of succcs:
insofar as the coming winter i*
concerned, acc ording to declar
ations made by Minister of
Public Works McPherson to
Edward T. Applewhaite, pres
ident of the Stewart Board of
Trade, in a personal interview
in Victoria last week.
Mr. Applewhaite was given
to understand that the present
state of the provincial finances
made it impossible to supply a
rotary plow at this time. Mr.
McPherson promised, howev
er, that the public works de
partment would provide a
V-tplow and a heavy caterpillar
tractor and make a determined
effort to keep the roads open
for traffic, according to re
ports reaching Stewart.
-o
New Manager Takes
Charge of Stewart Bank
Walter Wright, recently ap
pointed manager .of the Stew
art branch of the Bank of Mon
treal, took over his new duties
last week following the depart
ure of R. E. Haack, who was
transferred to the Esquimalt
branch of the same banking in
stitution.
Mr. Wright arrived from
Vancouver laslt week, acccomp
anied by h:;s wife and two
daughters.
-o
Mat. Cowan of Premier re
turned last week from a visit in
Smithers, B. C., bringing with
him a bride, formerly Miss
Vivian Graham of Smithei*s.
NEW SILVER MARKET
OPENS IN MONTREAL
Characterized as “the only
silver market on the western
hemi-phere’’ t h e Canadian
Commodity Exchange, devoted
entirely to the marketing of sil
ver, opened activities in Mon
treal Monday with orders from
all parts of the world waiting
to be fulfilled, according t;o
news reiports.
Press comment indicates that
the Exchange is locked upon
as a highly important factor in
the present silver situation and
make assume a powerful po
sition in the future pricing of
silver, which at present is con
trolled principally from Lon
don.
The new silver mart was
opened formally by Hon. Ath
anase David, Provincial Secre
tary of Quebec, who declared
that the opening would “have
an effect on the world’s mark
et within half an hour. Trad
ing in units of 10,000 ounces
was in full swing within three
minutes after the opening and
the price had mounted from
53 cents to 53.15.
‘The Exchange started with a
membership 'Of 184, olf which
142 are in Canada, 35 in .he
United States, 3 in Shanghai,
2 in Paris, one in Liverpool and
one in Bombay, India.
Trading units are confined to
contracts calling for 10,000
ounces of silver. Price changes
are registered in multiples of
one ,cne-hundredth of a cent
per ounce. Fluctuations of 1
point, one one-hundredth of a
cent, are equal to $1 per con
tract, while fluctuations of one
cent are equivalent to $100 on
a contract. Fluctuations are
limited in any one session to 3
cents per ounce above or be
low the previous closing price.
Tenderable silver will be in
bars of usual commercial size
and .999 fine. Rates of com
mission are fixed at $9 per
contract, either for purchase or
sale, when the price exceeds
43 cents per ounce and an ad
ditional $1 may be charged for
each additional 10 cents or
portion thereof.
-o
Chinese Silver Tax Will
Not Affect U. S. Program
The question of what dffect
the Chinese tax on silver ex
poits will have on the United
States silver program was ans
wered a few days ago by Sec
retary of the Treasury M<crg
enthau in the declaration that
the action of China would have
little effect on the purchasing
program aside from increasing
the price at which the metal
must be acquired.