HYDER WEEKLY HERALD
Established 1924
Published Every Saturday at the Herald Building,
Second .Avenue,Ilyder, Alaska.
Cha3. F. Sandford. Owner and Publisher
Entered as second-class matter at the postoffice at TTyder,
Alaska, under the act of March 3, 1879.
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Changes la Display Advertising for current weekly issue
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AN INDEPENDENT NEWSPAPER
Tois newspaper is not connected in any manner with any
stock brokerage firm or other establish meat associated in or
interested in the sale of mining shares and publishes no in
formation relative to local mining development that is not be
lieved to be in full accord with fact.
SAYS PREMIER MINE HAS
LONG LIFE AHEAD
Continued from Page One
of more than $11,000,000 has
been written off to depletion
and depreciation. Conservative
accounting, of course-but one
wonders what will happen in
another 2 V2 years, when the
whole capital value will have
been written off. Perhaps those
assets will require to be re-val
ued again, for, mark you, that
valuation of $14,000,000 just a
fewr years ago was not a “cost”
figure, but itself a revaluation.
“ New'sjajer editors have con
ducted something of a “wake”
when commenting on the fact
that this year Premier has had
to dig into Reserves to main
tain its present dividend. True
but it has been doing exactly
the same thing for many years,1
to be exact, to the extent, up to
the end of 1923, cf almost $3,
000,000, cr nearly nine times
the amount of approximately
$750,030 appropriated from
reserves for dividend payments
in 1929.
“Assuming that the produce
ive history of Premier has been
just about 10 years (including
1929) it will be seen that ap
proximately $675,000 per an
num in dividends has been paid
ouf of “Capital Reserves.”
From lepoits before us, we
find th.at $803,000 was so ap
propriated in 1926; $769,000
in 1927; $404,000 in 1928;
$750,000 in 1929. Not a bad
record for 1929 when the
company received five cents
per ounce less fox. its silver pro
duction than in 1928.
Any commercial or industrial
company might be severely
criticized for paying any divi
dends out of capital. How’ever
in mining practice, admittedly
operating in and wdth v/asting
assets, the matter is far differ
ent. When conservative mana
gement sets up a reserve fund '
of a million and a quarter a
year for depletion, it is perfect
ly sound policy to pay out ’
$500,000 or $750,000 in divi- s
dends-correctly designate such ;
payments as “Return of Cap
ital”— and no income tax is
payable by the recipient on
ihat part of his dividenda.
“That is just what Premier
has done to the extent of $5,
740,829 out of total dividend
disbursements (up to Dec. 81,
1929) of $14,263,117.
“Isn’t it just too bad that Pre
mier has to dig into capital
to maintain its dividend rate?
“ We find th’at 8128,000 was
charged to Depletion Account
in 1929 which should have
been charged in 1928. There
foie, alter making appropriate
adjustment, it is perfectly clear
that Premier’s NET PROFIT
AFTER DEPLETION for 1929
was only $180,000 less than for
1528, of which $120,000 was
due to the recession in market
; price of silver.
I “Premier shows an asset
i called “Investments.” No de
tails are given. However, ref
erence to former reports and
extraneous information e n
ables us to correctly analyze
1 this item. Here it is:
562,844 shares B.C.
Silver, valued at .. $129,616.76
1,651,000 shares Por
Ler-Idaiio, valued at 500,000.00
, 200,000 shares Sil-)
verado )
76', of Prosperity) 100,000.00
$729,616.76
The average value of these
items, based on quotations on
the Vancouver Stock Exchange
during the past three years,
has been considerably more
han double Premier’s book
valuation.
The current report indicates
net cash or equivalent, after
provision for current liabilities,
of more than 35 cents per
'bare. Fixed assets shown as!
; just over $3,000,000, or 60
cents per share, may fairly be
estimated as worth over $7,
)00,000—$1.40 per share. In
' ceetments, valued at $729,000,
hould be worth much more
than $1,250,000, or 25 cents
per share of Premier. SUCH
(VALUATIONS TOTAL $2.00
| PER SHARE FOR ALL OUT
STANDING PREMIER
STOCK—and the current divi
dend rate is equivalent to 12
per cent on such a valuation.
‘TIow long such a rate can be
maintained is a matter for con
jecture, but we shall be sur
prised if it be cut much in'the
next few years. Is it possible
that ceitain large holders sold
thousands of shares on a ner
vous market with an expecta
tion of replacing that stock at
a profit of 50 or 60 cents per
share?”
Just for Fun
A New York judge describes
mariiage as “an expensive lux
ury.” And we are here to say
that man isn't theorizing.
It seems to us that some re
formers are so close to heaven
that they never get down to
earth.
A movie director says a fight-*
ing chin is hard to find, yet we
observe that many do their
fighting that way.
A man who is trying to put
something over should be will
ing to put up with some re
buffs.
It takes all kinds of people to
make a world, so almost any
one should be able to fit in ]
somewhere.
Government statistics are poor
food for fattening hogs.
A bald-headed man who has!
heard that the hairs of our
heads are numbered, wants to
know if there is not some place
where he can get the back
numbers.
Stranger (to boy beating rug
rug: “Boy, is your mother at
home?”
Boy: (scornfully- “Say you
must be a dumb bell!”
An exchange reports that a
local schoolma’am nearly faint
ed when she asked one of her
little girl pupils if she intended
to be a school teacher when
she grew up. “No, ma’am,”
replied the child, “I’m going to
be a lady.”
Office Boy: “There’s a seles
man outside with a mustache.” j
Busy Boss: “Tell him I’ve got!
a mustache.”
He: “A sensible man doubts j
everything. Only a fool is cer- j
tain of what he says.”
She: “Are you sure?”
He: “Positive.”
After being awakened .at 6 a. j
m. for five days straight by!
a neighbor’s poultry, we have
come to the conclusion that the
man who is said to have suc
ceeded in breeding wingless
chickens should start evolving
a crowless rooster.
That they may have peace, j
even the best dogs are com
pelled to snarl occasionally.
Back in our old home town a
young man married one of two
very beautiful twins, as alike
as two peas in a pod. People
often remarked at the likeness
between the two women and
wondered how the husband
knew one from the other.
One day a friend said to him: |
“John, the whole town is inter
ested in your cape. What we
would like to know is how you
ever manage to tell the two of
them apart.”
“Well, to tell the truth,” re
plied John, “I don’t try. The
wrong twin just has to look
out.”
ALASKA NOTES
Culled From the Newspapers
Of the Territory.
Influenze is said to have been
the cause of five of six deaths
among the Inidans in the vicin
ity of Haines recently.
Birth records of the upper
Kuskokwim were broken re
cently when Mrs. Ralph Ander
son gave birth to twins, the
first to arrive in that part of
Alaska.
A bread line, said to be the
first in Alaska, is being operat
ed at Seldovia, where kind
hearted citizens are supplying
a number of native children of
that place with two meals a
day. The parents'of the child
ren are so hard-up this winter,
owing to the failure of the her
ring pack that they are not
able to provide for the little
ones. But six barrels of herring
were packed this winter, as
compared to many hundreds of
barrels in normal years.
Norman L. Wimmler, for sev
eral years field engineer in
Alaska, examining placer min
ing methods, has been em
ployed by the Russian Soviet
government to take charge of
underground placer mining de
velopments in the Siberian
gold fields. His contract calls
for a salary of $1,000 a month
in gold and expenses for him
self and Mrs.| Wimmler, who
will accompany her husband.
He is the second mining engin
eer from Alaska to become as
sociated with the Soviet mining
program, the other being Jack
Littlepage, former local miner,
who recently was re-engaged
by the Russians, after several
years in their employ.
METHODIST EPISCOPAL
CHURCH
(By Rev. H. R. Cross, Pastor.)
Upon the altar of Thy love
I lay this life of mine;
Do Thou make use of what I
have
That’s good, that’s true, that’s
fine.
May good in me bring out the
good
And truth draw other truth
From out the dormant waiting
souls
Of unrequiting youth.
Mary Louise Dean
We were not surprised to read
the announcement in the bulle
tin last week telling that
among a dozen of one’s friends
one would find the largest por
tion who would not know what
their children were being
taught.
Did you also note that eleven
out of twelve men did not ever
help their children with their
Sunday School lessons? What
is going to happen in the next
generation? Have you been |
thinking? As a remedy to these
conditions this church invites
you to come to its Sunday
Schoor at 10:30 Sunday morn
t
ing We have four classes and
ar-? prepared to start others if ;
necessary. Won’t you make it
necessary to start more class
es? No service will be held
in church Sunday evening, as
we have been invited to attend
the Moose Memorial service in
Stewart.
WATCHES! WATCHES!
Waltham 17 and 23 Jewels
Hamilton 19 and 21 Jewels
Elgin 7 and 15 Jewels
Wrist watches, Waltham, El
gin & Hofes, $12.50 to $25.00
Jewelry made to order, repair
work Anything in jewelry fur
nished on short notice.
Crosley Radios on Hand. Come
In And Look Them Over.
THE NUGGET SHOP
PORTLAND CANAL LODGE
1218
LOYAL ORDER OF MOOSE
Meets Second and Fourth
Thursdays
Second Thursday in Hyder
Fourth Thursday in Stewart
I
PROFESSIONAL
JVttcrntqt at ^ato
Jlgbcr, ^Inalm
FRANK A. METCALF
CIVIL & MINING ENGINEER
' U. S. MINERAL SURVEYOR
JUNEAU ALASKA
CHAS, F, CANDF3RD
NOTARY PUBLIC
HERALD OFFICE
UHlltant Iftcssc
U. S. MINERAL SURVEYOR
217 Commercial Building
KETCHIKAN, ALASKA
NOY K S B O AT CO M P A N V
Operating M. V. Fairbanks, Carrying U. S. Mails
FREIGHT and PASSENGER SERVICE BETWEEN
HYDER and KETCHIKAN
Leaving Ketchikan 9 A. M. Tuesday
Leaving Hyder 2 P. M. Wednesday
Hyder Dock Company, Hyder Agents
j A. J. MAYER P o BOX 123'
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HYDER ALASKA
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