p *" ' ' ' " 1
SPECIALIZING IN
MINING NEWS OF THE
PORTLAND CANAL
DISTRICT
HYDER WEEKLY HERALD
DEVOTED TO THE DEVELOPMENT OF ALASKA AND THE PORTLAND CANAL MINING DISTRICT.
/—1 *' • ..
SUBSCRIPTIONS
$3.00 PER YEAR
IN ADVANCE
VOL 7, NO. 2
PRICE TEN CENTS I
HYDER, ALASKA. SATURDAY, OCTOBER 18,1930.
PREMIER ANNOUNCES
PROBABLE REDUCTION
OF NEXT DIVIDEND
Probable reduction of the div
idend to be paid to sharehold
ers at the next quarterly distri
bution, as a result of low sil
ver prices and resultant net
earnings, combined with a de
sire on the part of the company
to conserve sufficient cash to
acquire other meritous mining
properties, was announced by
H. A. Guess, vice-president and
managing director of the Pre
mier Gold Mining Company on
October 4th. The announce
ment was made in a note to
company shareholders sent out
in connection with the last
quarterly dividend distribution
and reads as follows:
To the Stockholders:
Due largely to the continued
low price of silver which for
the past three months has av !
eraged about 35c per ounce a: j
compared with about 53o ir
the year 1929 and 58c in 1923 j
the earnings of your Company j
so far this year have beei ;
at the rate of slightly undei !
$1,000,000. per annum where j
as the quarterly dividend of 6
por share Is equivalent to $1, 1
200,000. U. S.‘ currency per an
num.
Furthermore it is important
that your company consent
sufficient cash to be enabled ti j
acquire other mining property
of merit should an opportunity
upon an attractive basis occur
Therefoi-e it is probable tha
the dividend at the next quar
ter will be somewhat reduced
W A (Tiipss
Vice-President and Managing '
Director.
As indicated in the statement
the impending reduction is dui
primarily to the prevailing low !
price of silver, ranging from j
18 to 23 cents per ounce les; j
than in 1929 and 1928. Thi. j
represents to the company j
reduction of about 33 1-3 pe
cent in the present average re
turn from silver uecoveries a
compared to the average re
turn for the two previous years
During the same period the
earnings of the company have
steadily declined as a result ot
lessening metal recoveries untii
at the present time they are av
eraging less than the amount
requited to meet the 6 cent div
idend rate. Under such cir
cumstances it is hardly to be
expected that the six cent rate
paid since,the first quarter oi
192§. could be maintained. In
fact the company has done re
markably well to maintain the
same rate of dividends as long
as it has in the face of both
lowering recoveries and declin
ing silver values. That it has
been able to do so has been dlie
partially to the use of reserved
funds combined with except
ional operative and business
management. With few ex
ceptions, every' lai’ge silver
producing company on the con
tinent has either reduced or
entirely withheld dividend dis
tributions during most of the
past year.
Although the necessity which
compels the company’s decis
ion is regrettable, it is clear
that there is no other alterna
B. C. Silver Reports Progress
^The following official report
of August operations on the B.
C. Silver property was released
by the Selukwe Company head
quaiters in London September
26th and was received this
week by mail. ^ ^
“All work was confined to
No. 6 level. Drift 644, the north
easterly drive on the zone from
the main 627 crosscut, was ad
vanced 46 feet, thus bringing
the face td 161 feet from the
main crosscut. This was partly
in siticified and partly in green
porphyry. No commercial val
ues were found.
Drift 645, the southwesterly
extension of 644 drift, was ad
vanded 17 ft. in highly silici
fied mineralised porphyry,
bowing low values. This put
the face at 32 feet from the
main crosscut.
Drift 647, the southwesterly
drive on the zone from 676
crosscut, -was advanced 24 ft.,
‘hus putting the face at 40 ft.
:'rom the edge of 676 crosscut.
Phis was all in well silicified
rnd heavily mineralised por
phyry. Low values persisted
throughout.
Crosscut 689, southeasterly
>ff 637 drift at hub, plus 25 ft.
(loughly 415 ft. from the
haft) was advanced 57 ft.
from the edge of the drift.
This was all in well silicified
heavily metallised zone, show
ing low values. Some further
crosscutting was done without
showing anything ofc import
ance. A total of 231 ft of
drifting, crosscutting and side
-.wiping was done during the
period.”
Talbot Heads Legion
J. A. Talbot, Ketchikan bus
ness man, who visited Hyder
jy plane this week, was elect
'd post commander of the
\laska department of the
\meriean Legion at the annual
convention held in Anchorage
i few days ago.
Other Legion officers elected
needed, Ralph R. Reeser, of
3’airbanks, first vice-command
er; E. M. Campbell, Wrangell,
necond vice-commander; M. S.
Sides, Juneau, finance officer;
Leroy Vestal, Juneau, service
>fficer; Dr. Rude, chaplain;
U. G. Nordling, Juneau, histor
an; Oscar Shineman, Sitka,
sergeant-at-arms; David Al
der, Fairbanks, national exec
itive committeeman; Dalton
Barr, alternate; E. M. Polley,
Juneau, department executive
committeeman at large: J. T.
Petrich, Juneau, adjutant.
The next convention will be
held at Petersburg.
The Northland Transportat
ion Co. moforship Norco ar
i rived from Seattle Friday af
! ternoon with a good sized
j batch of cargo.
-o
j Mr. F. W. Schalberg,-Grand
I Forks, N. D. resident, who if
; interested in the North Countrj
1 Mining Company, was a visit
or in the district during th(
past week.
HELP keep the street lights burning
at the Halloween Dance, Oct. 31.
live under present silver con
ditions.
It is not the fault of the mini
but of the unprecedented stati
jOf the metal market.
NATIONAL BODY
URGES AIR MAIL
ROUTE FOR ALASKA
Air mail service between ,
Alaska and the United States
was endorsed by the National I
I Aeronautical Association of;
the United States at its recent,
annual convention, thus bring
ing the weight of the strong
est aviation influence in Amer
ict behind the present efforts i
of Territorial and other inter
ests to induce the government1
to extend its aerial mail-carry
ing operations to Alaska.
The National Aeronautical!
Association has a chapter in
virtually every important cen-,
ter in the United States and
includes about one million per
sons in its membership.
Resolutions urging the post
master general to extend air
mail service to Alaska were
adopted unanimously by the
convention, at which the Terr
itory was represented by Val
entine Gephart, delegate from
Seattle, at the request of the
Washington - Alaska Airways.
Following the convention,
Mr. Gephart also went to
Washington, D. C. to urge act
ion by the postal officials on
the convention’s resolution.
Carey Moran Still Alive
Casey Moran, noted Northern
newspaper man whose death
in Venezuela was reported re- '
cently in the Alaska press, i§
apparently still alive, accord
ing to a recent issue of the Jun
eau Empire.
The Empire story of Casey’s !
! revival states that the wife of
j B. H. Moran, Casey’s son, had
received a message from the
supposed defunct Moran dis
closing that he was still very
much alive subsequent to his
reported demise.
The erroneous .story of Mor
an’s death is said to have ema
ated from a man who claimed
to have been an intimate friend
of the former Alaska journal
ist and who informed the
younger Moran that Casey,
who has been publishing a
newspaper in Maracibo, Vene
zuela, that jiis father had died
there some months ago. The
man also asserted that he had
himself brought the body of
Casey back to Louisiana for in
terment. The younger Moran
did not question the word of
his informant, but wrote for de
tails of his father’s alleged
passing, only to receive an an
swer showing Casey to be still
on deck. The man who told
so glibly of Casey’s finish was
later picked up at Wrangell
and held for observation and
was also charged with obtain
ing money under false preten
ses.
-o
At a special election held in
! Ketchikan last week on the
(question of bonding the city in
. (th.e sum of $1,000,000 for the
. purpose of installing a munici
pal power and light plant, the
! vote stood 91 for to 172
against the porposal. As a 65
per cent vote is required, the
! proposal was lost.
HALLOWEEN.DANCE OCT. 31ST.
HALLOWEEN DANCE OCT. 31ST.
E,W, SAWYER SAYS
HIGHWAY PROGRAM
PROGRESSING NICELY
The big Pacific-Yukon-Alas
ka Highway project is making
good progress and is receiving
splendid support in the Yukon
Territory and also wide pub
licity in the Outside press, h
the substance of a statement
relative to the highway situ
ation made recently by Ernest
Walker Sawyer, assistant to
the secretary of the interior, to
A. F. Halloway, representative
of the Alaska Weekly, who vis
ited the Hyder district last
week.
Mr. Sawyer’s statement was
made to Mr. Halloway on
board the steamship Princess
Louise at the conclusion of an
extended visit to the Yukon
district and other sections ot
the north during the past sum
mer.
The Highway program is pro
gressing nicely, Mr. Sawyer
said. The Yukon-Pacific High
way Association of Dawson, is
a great booster for the project
and Mr. Furth, Gold Commiss
ioner McLean, and other prom
inent Yukon residents are also
great boosters for the highway.
Mr. George Black, Speaker oi
the House in Ottawa, is also
enthusiastic over this far
reaching development, Mr.
Sawyer said.
Mr. Sawyer said he visited
Dawson in July in connection
with the project and Major
Malcolm Elliott of the recent
ly appointed American com
mission to study the highway
proposal and Governor George
A. Parks also visited the Yuk
on metropolis in June.
During the conversation Mr,
Sawyer drew Mr. Halloway’s
attention to a number of fine
publicity articles on the high
way" in the Los Angeles Times
and other publications, in
cluding an especially fine art
icle in Touring Topics,. The
latter journal goes to 250,00C
people, each of whom is inter
ested in travel. Mr., Sawyer
said it is expected that nexl
summer will see a materia’
number of tourists visit British
Columbia and the Cariboc
highway as a result of this pub
lic-ity.
Following his return to tm
States, Mr. Sawyer was sched
uled to be the guest of Lieut
Governor Bruce and Premiei
Tolmie in Victoria and later t(
go to Washington, D. C., for i
conference on the highway
with Major Elliott and Her
bert H. Rice, the third membei
j of the American highway com
mission.
| t
. -o
Joe Fendley, Banded Mount
ain claim owner, who has beei
in the Ketchikan hospital fo
some weeks after having om
of his legs broken by a falling
I rock on the Metcalf and Fend
• ley group, returned to cam]
: Tuesday on the mail boat. Mi
Fendley’s lirrtb is mendin]
j nicely as a resujt of an excell
j ent bone-setting operation. H
is able to be about on crutche<
i
Plane Brings Visitors
__ /
The Pioneer Airways sea
plane Sea Pigeon, piloted b;
1 Jerry Smith, dropped over thi
lofty peaks west of-Hyder a
6:30 p. m. Tuesday evening
and landed so quietly that fev
were aware of its coming un
til after it was tied to the Hy
der dock. The plane cam<
from Ketchikan via Dali Is
land directly over the mount
ains and flying at an altitudt
of 10,000 feet. Arriving ovei
the camp, Pilot Smith shut of
his motor and gave a pretty
exhibition of side-slipping int<
the deep and comparatively
narrow channel of Portlanc
Canal. This accounts for th<
noiseless landing.
The plane brought two pass
engers, Paul H. Abbott, Alaska
representative of the Dupon
Powder Company, and J. A
Talbot, Ketchikan busines:
man. Mr. Abbott came over or
business of his company anc
Mr. Talbot, who formerly re
sided here and managed th(
old Salmon River Dock Comp
any, combined both busines:
and pleasure in his visit.
The plane returned to Ketch
ikan Wednesday morning, car
rying Messrs. Abbott and Tal
bot and two local passengers
George Mooney and Oscar Per
son, both of whom have beer
engaged on the Texas Creel
road work during the summer
--o-—
Stewart Founder Passes Awa;
Frank P. Stewart, founder o:
our neighbor town of Stewart
B. C., and an oldtimer of th<
North, passed away at hi:
home in Renton, Washington
October 3 at the age of 71
years, according to press an
nouncements. Death was du<
to cancer and came while In
was undergoing an operatioi
for the relief of that dreac
malady.
“Pap,, Stewart, as he wa
known to his familiars, is cred
ited with having made the firs
mineral locations in the Bea
River district, where Stewar
later came into existence. Th<
noted Mountain Boy property
on American Creek is one o
properties located by him a
that time and he continued ii
ownership until recently. Hi
entry into this section is sai(
to have been the outcome of ;
trip made by him to the head
waters of the Nass River in 18
99, from which he came t<
the head of Portland Canal vii
the Bear River pass.
He was a native of Indian;
' and followed minig and pros
j pecting throughout his life
time and at one time prospect
ed and mined in Alaska. H
is survived by a widow, si:
sons and two daughters, all o
whom reside in the States.
-o
First Snowfall Last Sunday
t The first snow of the presen
. fall season to reach the lowe
> levels covered the Hyder an
, Stewart districts early last Sur
‘ day morning, October 12tl
j. The fall occurred seventee
! days earlier than the first snoA
’ a year ago and attained
depth of about two inches o
the floor of Salmon River va
; ley. A fpot of snow was r<
• ported at the Big Missouri min
B Sunday noon and 18 inches o
; Friday.
J
SALMON DECLINE
: LOWERS SEPTEMBER
: ALASKA EXPORTS
Shipments of merchandise
from Alaska to the United
■ States last month attained the
lowest value for any similar
month since 1924 with a total
! of $13,067,016, Combined with
shipments of gold and silver
valued at $1,006,355, the total
Territorial exports for the
' month amounted to $14,073,
371, according to the monthly
statement of Collector of Cus
toms J. C. McBride. Septem
ber merchandise exports in 19
j 29 were valued at $16,992,434,
! while gold and silver ship
ments valued at $801,741
brought the grand total of ex
; ports for the month to $17,
794,175, or $3,720,204 more
than last month.
The marked reduction is at
tributable mainly to a decline
of nearly $3,000,000 in the val
ue of canned salmon shipments
combined with a big falling off
j in copper exports, which to
taled only $501,338, as com
; pared with $1,312,884 for the
I same month last year.
i
Following is the complete list
of exports and their values:
jBlue foxes.$ 12,425
Other animals. 15,286
Curips . 498
, Fish : fresh and froz
. en (except shell-fish)
Halibut . 74,889
Salmon . 50,125
All other. 1,606
Canned (except Shell
fish)
Salmon . 10,637,037
Cured or preserved (ex
cept shell-fish)
Cod . 730
[ Herring . 2 >5,284
Salmon . 94,843
Shell-fish:
i Clams . z,6io
j Crabs . 6,399
I Shrimps . 19,870
Other fish products:
I Meal . 284.689
;j Oil . 378,383
.'Furs and fur-skins:
Blue fox . 130
Silver or black fox .. 850
1 Red fox . 1.175
| | Mink . 865
Muskrat .. 8.667
1 All other .. 2,280
' i Manufactured furs 4.807
; Oil: Whale. 118,864
Ore, matte, regulus:
1 Copper . 5"! 338
Lead . • 13,456
1 Reindeer meat. 47, l'71
' Stone, marble . 12.666
' Trophies, specimens 1,950
' j Wood, timber, etc. 13,620
1; * All other articles 33,805
- Total value products
of Alaska . 12,596,733
! Products of United
States returned .... 470,828
t; Total value foreign
r products . 55
lj -
-1 Total value of ship
.: ments merchandise 13,067,616
a! Gold .$988,215
v*! Silver . 18,140
- j Mr. J. A. Hall, president of
- ] the Bank of Hyder, left last
e week on a business trip to the
n ; south and is expected back this
! evening.
o