HYDER - FIRST ALASKA TOWN THAT CAN BE REACHED BY THE PACIFIC - YUKON - ALASKA HIGHWAY
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MINING NEWS OP THE
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VOL 7, NO. 43
HYDER, ALASKA, SATURDAY, AUGUST 1, 1931.
PRICE TEN CENTS
BIG EASTERN COMPANY
TAKES CANTU OPTION
The Cantu Mining Company,
through Conrad Wolfle, pres
ident, has granted an option
on $250,000 shares of its treas
ury stock to Mayflower Asso
ciates, Incorporated, a general
management “ investment
trust” with offices at Newark,
N. J., according to both private
and press advices received
here this week.
The option price of the stock
was said to be 50 cents a share
and the option extends to Aug
ust 21. The option provides
that the stock will be taken up
as expenditures are made on
the property by the optioning
interests and under their di
rection, in the event that the
first examination results in
completion of the deal. A sec
ond block of shares, which will
exhaust the treasury, may then
be acquired at $1 per share
with enough additional private
stock to give Mayflower con
trol.
From the information avail
able, Mayflower, Inc., appears
to be a concern of considerable
magnitude, with important i
mining holdings, which include
Rhodesian Congo Border Con
cession, Ltd., Biwana M’Kub
wa Company and N’Changa
Company, African coppei
properties, in addition to var
ious industrial holdings.
Prospecting New Lead on Titar.
S. P. Fitzgerald and hir
brother, Jack, are doing ex
ploration work on a new and
promising lead located recent
ly on the Titan property in
the upper Fish Creek basin.
The new showing is highly
mineralized and presents every
indication of being a perman- j
ent ore body of large extent
Values have not been fully
determined, but the sampling j
done so far has been very en
couraging.
-o-—
Alaska Fur Exports
Show Big Decrease
A decline of $2,385,715 in |
the value of Alaska fur exports !
in 1930, is disclosed in a recent1
announcement of the United |
States department of agricult
ure.
The total value of furs ex
ported during the year was 1
placed by the department at J
$2,128,148. The number of fur!
land animal pelts taken was1
494,547. This was 197,245;
more than were taken in 1929.
The decline in value of the j
skins is attributed directly to {
conditions of the fur markets,>
and not to the quality of the |
Alaska furs.
-o
M. S. Zapora Arrives
The motorship Zapora ar
rived from Seattle direct Tues
day with a good sized batch!
of merchandise consigned to
local dealers. I
Wm. Bunting, pioneer min
ing man of this district, who
now makes his home in Van
couver, left the B. C. metrop
olis early this month to spend
the season on his Rainy Hol
low gold property near Haines,
Alaska.
Nothing Definite on
Big Missouri
| Although rumors have been
j numerous regarding the out
look for the Big Missouri prop
erty since the recent meeting
here of W. M. Archibald and
i M. M. O’Brien, of the Consoli
dated Mining and Smelting
Co., and J. T. Gregory of the
Big Missouri Mining Co., noth
ing definite can be learned at
this time regarding the future
| contemplations of the control
j ling interests.
It is generally believed that
11 he meeting here of the three
i officials was to determine
whether it was advisable to
proceed now or delay until
later further development of
the property. What the results
of the conference will be must
apparently await the future,
as the visiting officers would
make no statement. While this
I is decidedly disappointing to a
| community which bases much
of its future outlook on the |
■ontinued development of the
property, it reflects no more
han the normal attitude of
he Consolidated company of
ficials toward giving out infor
mation regarding company af
fairs.
Indications, however, point
with some certainty to a con
tinuance of the present activ
ities for a while.
--o- j
Moose Park Popular Resort
Taking advantage of the de
ightful weather, of the past
week or so, literally scores of
Hyder and Stewart residents
have visited the beautiful pic
nic park and swimming pool
established by the Loyal
Moose lodge near the north
end of town and known a?
Moose Park.
All who visit the park are!
profuse in praise of the splen
did public playground, the
benefits of which are just be
coming realized.
Rare Mineral Find Reported
The discovery of a deposit
>f barium carbonate, or with
erite, on Kuku Island, off the |
•outheastern Alaska coast, by
George Comstock, an oldtime I
piospector, was announced re-1
cently by B. D. Stewart, sup- '
ervising mining engineer for j
the Territory.
Comstock, who has located
claims on the island, reported
to Mr. Stewart that he had
found a deposit of the mineral
in the form of pebbles on the '
beach, amounting to between
two and three tons. Owing to
the weight of the mineral it |
is believed the source of the j
pebbles is not far away.
Witheiite is said to be one
of the rarest of minerals and
ha3 been found in but two j
other places in North America,
one in Kentucky, the other in
Ontario. So far as known the
mineral has never before been
found in Alaska.
Lindy to Stop at Barrow
The coast guard cutter North
land sailed recently from
Nome to Point Barrow carry
ing a quantity of gasoline for
Col. Charles A. Lindbergh,
who plans to stop at that point
on his flight to Asia with Mrs.
Lindebergh.
RECORD GOLD YIELD
IN 1931 EXPECTED
With gold shipments from
the Territory for the first six
months of this year over 50
per cent in excess of the ship
ments for a like period of
1930, there is a strong probab
ility that the production of
Alaska’s gold mining industry
j in 1931 will be the largest
! since 1917, according to the
1 Juneau Empire,
j The total of shipments for
January, February, March,
April May and June of the
current year was $3,178,380,
according to the official fig
ures reported by John C. Mc
Bride, Collector of Customs.
The same six months last year
had shipments aggregating
$2,048,906, the Empire con
tinues.
The gain for this year was
$1,129,174, or in excess of 50
per cent. It has been register
ed steadily, each month show
ing bigger shipments than the
corresponding month of 1930.
The first half of the year,
naturally, is the period when j
shipments are smallest. This is i
due to the fact that placer|
mining operations, including j
the big dredgeing projects at
Fairbanks and Nome, and
small lodes in the interior, are
closed down for the winter.
While this year, some of the
dredges in the Fairbanks dist
rict opened in April, the whole
fleet did not swing into line
until about June 1, and the
Nome boats did not begin work
until later than that. Smaller
projects were also later get
ting under way.
If the average monthly gain
for the first half year should
be maintained for the last, the
year’s total would reach elev
en and three-quarter million
dollars.
Even if there should be no
increase, and production just
hold even pace, the total pro
duction will reach $9,999,999.
It is generally believed that
there will continue to be in
creases in the next six months,
sufficient to bring the year’s
output of gold to about $10,
000,000.
This would be the largest
production in 14 years, exceed
ing any year since 1917 when
it was $14,939,440. That fig
ure includes silver also, which
is not embraced in the figures
for this year. The output of the
latter metal this year will be
abnormally small.
So far it has aggregated but
$45,560, as compared to some
$94,000 for the corresponding
period for 1930, due to the low
prices for the metal which
have lessened the value of the
output and caused a reduction
in recoveries.
-o-:
S. S. Cordova Visits
The Alaska Steamship Com
pany’s big freighter Cordova
arrived Sunday from Seattle to
pick up a large shipment of
road construction equipment
belonging to the Seims-Spo
kane Company, which was left
here by that company after
completing the Texas Creek
highway. The outfit included
a large compressor, gravel
crusher and other large equip
ment.
AUTHORITY DECLARES
HARD CASH REEDED
“One of the main reasons
for the continuation of this de
pression is the lack of hard
cash, thus paralyzing the use
of International trade, and the
only solution at this time is a
greater production of gold and
some agreement whereby the
price of silver will be stabiliz
ed,” says A. C. Damon in a
recent issue of the Mining
Journal.
“It is ray%belief that a 25-1
price between gold and silver
is the most practical. I do not
think that our producers want
$1.00 silver, for they will all
be content with either 75 cents
or 80 cents per ounce, if they
are assured of stabilization
With this ratio the banker also
will be satisfied, for there is a
very little chance for the pro
duction of silver, which ha;
stayed at a ratio of 14 ounce;
to 1 ounce of gold for some
time, getting to a point where
it will excceed probably 20-1.
“This way, with a ratio ot
25 to 1, the banker will be
satisfied in knowing that over
production of silver can never
tear down gold, and the minei
will be given a fair price, and
at the same time the purchas
ing power of the wrorld increas
ed and our supply of needed
hard cash materially increased.
“Remember, during periods
of prosperity we do not need
hard cash for our commercial
interchange, but during times
of depression, uncertainly,
suspicion and lack of confi
dence, where credit is practic
ally ruined, hard cash plays a
most important part.
“This depression has clearly
brought out the important fact
that every individual, every
business, and, in fact, nations
must have a supply of hard
cash, both gold and silver, to
act as a reserve, so that these
periods will be minimized in
extent and duration. The gen
eral business of the world has
increased 3 per cene each year
since 1920, but our gold, or
hard cash, has stood practical
ly still.”
n
Noted Railroad Man Visits
Lieut. Col. T. A. Hiam. executive
; officer of the Canadian National
; Railways and personal representative
! of Sir Harry Thornton on the Pacific
Coast, was a visitor in the district
from Saturday to Monday, accompan
1 ied by Mrs. Hiam.
Col. Hiam is no stranger to the
1 district, having been located here for
I some time prior to 1920 representing
I the interests of Sir Donald Mann.
During his stay Col. Hiam devoted
some attention to the feasibility of
linking this section up with the 15. C.
I highway system, thus making high
way connections with Alaska, and ap
1 peared much impressed at the com
! parative simplicity of such a pro
' ject. He also indicated much gratifi
] cation at the advancement of the
| district since his last visit and ex
j pressed the view that a resumption
| of normal conditions in the world
• will have an immediate effect in im
j proving the local mining situation.
During his stay Col. Hiam visited
the Premier mine and other points
j of interest, and also gave an inter
i esting address on the League of
Nations before the Canadian Legion
branch in Stewart.
■-o
C. H. McLean, radio telephone en
gineer of the 15. C. Telephone Co.,
visited the district this week for the
purpose of investigating the possibil
ities of extending the company radio
telephone system to include Hyder
and Stewart.
This would give local telephone con
nection to every important center in
North America. Tests between Prince
Rupert. Ketchikan, Anyox and south
ern points have already proved sat
isfactory. _ ^
Many Enjoying
Chickamin Scenery
Almost a score of local res
'dents spent the paSt week en
joying the wonderful scenic
beauties of the Chickamin
Glacier district at-the head of
Texas Creek:
Among those who spent all
3r part of the week camping
n the district were Miss Helen
Hall, Mrs. Harold Johnson
Mrs. C. N. Crone, Mrs. O. F.
Hill, Mrs. B. Kirkham, Mrs.
R. C. Young and child, Mrs.
A. J. Mayer, Mrs. Robt. L.
Stewart, Miss Lillian Stewart.
Mrs. Edgar Provinse and Mrs
Curtis Gardner and family.
Numerour others from Hydei
ind Stewart also visited the
glacier section for briefer in
ervals, the completion of tht
■plendid new Texas Creek
Highway having made the
Jistrict accessible by auto; les?
han two hours being required
o make the 21-mile trip. The
iistrict is said to be enchant
ng at this time, with wile
lowers blooming on every side
ind the vast blue and white
glaciers scintillating in the
brilliant sunshine as they
sweep down from the over
hanging mountain peaks.
—-U
Wolfle Case Postponed
Telegraphic advices from
Seattle last Saturday reported
the postponement of the Wolf
le case, owing to the illness of
the defendant, Conrad Wolfle,
who is charged with alleged
irregularities in connection
with the promotion of the
Cantu property on Cantu
Mountain. The advices indicat
ed that Mr. Wolfle will have
to undergo an operation. The
case has been set over for a
matter of two months.
•-o
Rich Orebody Is
Discovered at Chichagof
Discovery of an orebody car
rying high values below the
1.300 foot level, the lowest
there, in the old Chichagof
mine was revealed here recent
ly by James L. Freeburn, gen
eral manager of that property
under the Rust-Wallace regime
and now owner.
The discovery was made 113
feet below the 1,300 foot level
and some drifting was done on
the vein which runs from two
to four feet in width.
It will take some time to car
ry out the exploratory work
necessary to determine the ex
tent of the body, bu Mr. Free
burn said that it was probable
that mining and milling oper
ations would be resumed on
the property. It will require
several months to do the nec
essary exploratory and devel
opment work before milling
can be launched.
-o
Famous Army Chief
Visiting Territory
Maj. Gen. William Crozier,
U. S. A., retired, veteran of
two major wars and as many
campaigns, is visiting Alaska
at present, accompanied by
Mrs. Crozier. Gen. Crozier is
recognized as one of the artil
lary experts of the world and
was for lf> years Chief of Or
dinance of the United States
Army.
TO HELP SILVER
In an effort to bolster the
silver price, announcement
has been made that the Mex
ican treasury department will
soon issue a decree requiring
all banking institutions to car
ry a 70 per cent of all guaran
tees in silver, instead of in
gold, as at present. It is ex
pected that this measure will
require the purchase of about
70.000. 000 pesos (or about
514.000. 000 in United States
! uirrency at present rates) in
silver, which would aid mater
ially in stabilizing the silver
peso.
Great Britain purchased sil
ver to the value of 39,945,967
gold pesos from Mexico during
1930. Expoi’ts of Mexican sil
ver for the first ten months of
he year—complete figures be
ng not yet available—were
valued at 75,528,303 gold
pesos, compared with 99,251,
809 gold pesos in the same
period of 1929.
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Chickamin Tunnel
Fails to Locate Ore
Development operations on the
Metcalf and Fendley property
were temporarily suspended
this week, after the explora
tion tunnel, on which work has
been in progress since last
spring, failed to strike the ore
zone within the distance e:
pected from surface indicat
ions.
The tunnel was projected to
tap a large mineralized zone
carrying free gold values
which traverses the entire
lorthwesterly slope of Banded
Mountain. Driven from a deep
gulch, the tunnel was expected
o strike the ore at a distance
of approximately 80 feet but
failed to make the anticipat
ed contact after extension to
180 feet. The question of whe
:her the ore zone lies beyond
this point is considered by Mr.
C. L. Hibbard, Seattle capital
st, who is backing the prop
erty, and his associates, as too
problematical to warrant the
heavy expense of continuing
the tunnel to greater depth.
Some further exploration
work is to be done on the prop
erty at another point by Messrs
Metcalf and Fendley and if re
sults are found satisfactory ex
tensive operations may be re
sumed.
-—-O
New B. C. Governor Named
Victoria despatches last week
reported the appointment of
John William Fordham John
son of Vancouver to the pos
ision of Lieutenant-Governor
of British Columbia, to succeed
Hon. Randolph Bruce, whose
retirement from the office was
announced recently. The new
Lieutenant-Governor is manag
ing director of the B. C. Sugar
Refinery at Vancouver.
-O—
Big Missouri Company
Official Visits Camp
J. T. Gregory, Tacoma cap
italist and official of the Big
Missouri Mining Company,
left for the States Monday
evening after a two-day visit
at Big Missouri mine in com
pany with Wm. M. Archibald,
Consolidated company mines
manager.