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VOLUME 9, NUMBER 34.
HYDER, ALASKA, SATURDAY, JUNE 3, 1933.
SINGLE COPIES 10 CENTS
HCPEFUL OUTLOOK FOR
SILVER STABILIZATION
That the outlook for silver
(rehabilitation is growing stead
ily brighter with the approach
of the World Economic Confer
ence was indicated in late
Washington, D. C. reports .in
which Senator Pittman was
quoted as saying that all the
nations with which the United
States has discussed the silver
question are in agreement with
the following program:
That the price of silver
should be reasonably raised.
That the status of silver is a
part of the general problem of
stabilization of currencies in
the interest of international ex
change.
That governments should
agree to abandon the policy
and practice of debasing and
melting up silver coinage and
that restoration of the fineness
of debased coinage should be
brought about as rapidly as
practicable.
That there should be the
largest possible use of silver as
a base for currency issues and
that tariffs and other obstruct
ions to the free movement of
silver should be lowered or
eliminated.
I ittman, who is chairman of
the Senate Foreign Relations
Vvumin nice, nan uccu
ed a delegate to the Economic
Conference, which starts in
London June 12.
More than a dozen nations
are said to have agreed upon
the necessity for stabilizing
silver in connection with the
world’s monetary systems in
the recent conversations. Fol
lowing the conferences last
week between President Roose
velt and T. V. Soong, Chinese
minister of finance, a joint
statement announced that it
was considered “essential that
the price of silver should be
enhanced and stabilized.”
While the view that silver
must play an important part in
the future monetary system of
the world is gaining ground
very .rapidly, the outlook for
action to place the white metal
on a parity with gold (16 to 1)
appears somewhat dubious.
This is reflected in Washington
reports announcing that the
House had rejected the propos
al approved by the Senate to
instruct U. S. delegates to the
World Conference to work for
16 to 1 silver.
Discussing that proposal be
fore the House foreign affairs
committee, chairman Somers
voiced his approval of 16 to 1
silver but openly declared
“You are not going to get it.”
Other reports said no specific
Georgia River Gold
To Push Development
Development work aimed at
blocking out additional ore re
serves will be rushed during
the present season .on the Geor
gia River Gold Mines proper
ties on Georgia river, now un
der control >of Helena Gold
Mines, Ltd., according to late
Vancouver reports. Efforts
will be directed principally to
proving the downward contin
uation of values in the South
west and Bullion veins, which
have already disclosed large
quantities of ore carrying from
$10 to $35 per ton as a result
o f approximately $300,000
worth of earlier development
on the propetry.
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Says No Silver Action Soon
Remonetization of silver can
not be expected before the De
cember session of Congress and
possibly not until next spring,
in the opinion of Ernest Blue,
former local attorney, who is
now in the Seattle section.
Writing to Hubert Thomas a
few days ago Mr. Blue referred
to the silver question as fol
lows:
“Don’t build too much hope
on early silver action. It can
not be remonetized before the
uecemuer session ui oungiess
and they may quibble over it
until spring. However, it is
coming, sure, but there is a lot
of depression ahead of us yet."
Mr. Blue’s Baiinbridge Island
newspaper deal fell through;
a former newspaper reporter
having bid over twice the
amount offered by Mr. Blue.
I The result was that the purch
aser found the burden too
heavy and speedily went
“broke,” dropping §10,000 in
the wreck. Mi*. Blue bid $4,
000 for the plant and says that
was all it was worth. He is now
employed in an official position
:n one of the state lumber
camps near Seattle, while wait
:ng for some new opening.
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Rufus Argenta In Bridge Riv.
Rufus Argenta Mines, Ltd.,
owner of important mining
properties in this section, has
optioned the Broken Hill group
of 7 claims in the Bridge river
district and will start develop
ment at once. Good values in
gold and silver are said to have
been found on the property,
which attracted considerable
interest some years ago.
stabilization figure was dis
cussed with foreign represent
atives but that 60 cents an
ounce had been discussed unof
ficially.
ASSESSMENT ACT
REQUIRES FILING OF
INTENTION NOTICE
Copies of the new law sus
pending assessment work on
mining claims for the year end
ing July 1, 1933, were received
this week and reveal that not
ice of the claimholder’s desire
to hold hds ground must be
filed in the office where the lo
cation notice is recorded on or
before 12 o’clock meridian Julv
1, 1933, in order to receive the
benefits of the act. The sect
ion containing this provision
is as follows:
“that the provisions of this
act shall not apply in the case
of any claimant not entitled to
exemption from the payment of
a federal income tax for the
taxable year 1932; provided
further, that every claimant of
any such mining claim, in order
to obtain the benefits of this
act, shall file, or cause to be
filed, in the office where the lo
cation notice or certificate is
recorded, on or before 12
o’clock meridian, July 1, 1933,
a notice of his desire to hold
said, mining claim under this
act, which notice shall state
that the claimant, or claimants,
were entitled to exemption
from the payment of a federal
income tax for the taxable
year 1932.
..n.
New Whist Series Launched
The Pioneers of Alaska and
Friendship Club launched a
new series of progressive whist
socials in Pioneer Hall last ev
ening, with a good sized crowd
attending. The series will con
tinue until September. Prizes
will be given monthly to the
successful contestants, in addit
ion to grand prizes, to be
awarded at the close of the ser
ies. Winners of the first con
test were Mrs. E. D. Haddon
and Hans Bunzel. The tourney
developed curious tie compli
cations, there being one tie in
the gentlemen’s division and'
three in the ladies. In the lat
ter Mrs. H. Johnson, Mrs Had
don and Mrs. M. Lindegaard
submitted tie scores, while Mr.
Bunzel and E. D. Haddon tied
for the men’s prize. Mr. Had
don and Mr. Bunzel also split
the sweepstake prize.
-o
J. J. Connors, Democratic
National Committeeman for
Alaska, has been nominated by
President Roosevelt to suc
ceed J. C. McBride as Collector
of Customs for the Alaska dist
rict. Other Alaska appoint
ments expected soon are those
of S. Hellenthal for district
judge of the First Division, W.
A. Holzheimer for district at
| torney, and Wm. T. Mahoney
• for U. S. Marshal.
I Premier - B. C. Silver
Deadlock Continues
Reports of the recent annual
meeting of the Selukwe Gold
Mining & Finance Company
disclose no change in the Pre
mier- B. C. Silver situation dur
ing the past year.
The Mining World and Engi
neering Record, eminent Brit
ish mining journal, in report
ing the meeting says in part:
“In the course of the discuss
ion.reference was made
to the Premier Gold Mining
Co.’s proposal to operate the
B. C. Silver Mines ‘ “for mutual
benefit” ’—an offer the terms
of which the Selukwe directors,
who have the greatest confi
dence in the future of the B. C.
Silver Mines, felt were not
nearly good enough. They are.
however, quite prepared to
consider any arrangement un
der which the interests of the
Selukwe shareholders will be
equitably dealt with.
.Mr. Hockley said that
the Premier cortipany bought
the key position over their
heads from the .original vend
ors, and in the articles o«f asso
ciation of the B. C. company
the vendors had a clause to
piotect their interest, viz., that
no resolution altering the status
of the company should be car
ried without a vote of 80 per
cent of the shares. As the Se
lukwe company only held 5£)
per cent, it was impossible to
carry any resolution to increase
the capital, create a mortgage,
or alter in any way the statue
of the B. C. company. At that
time the Premier company
stated that the ore zone was
not on the B. C. company’s
property, that its extension lay
within the Premier and in a
different direction. The only
course open to them, therefore,
was to prove that they had the
extension, and to do that it was
necessary to put in a very long
adit drive alongside the Pre
mier border. They according
ly did so. and the result was
that they cut the Premier ore
body, 28 feet wide, at a point
where they were told it did not
exist.
“As far Back as the year 1923,
Mr. Hockley said, the Premier
company told their sharehold
ers that the bottom of their
mine ((No. 4 level) was look
ing a little weak, but it was not
until 1927 that they definitely
stated that the ore between the
4th and 5th levels had passed
out of their property, and each
year after that they warned
their shareholders that there
was only a comparatively small
portion of ore left. In their re
port dated March 7 last they
jtold their shareholders that all
i they had left at the end of 19
DELEGATE URGING
LOCAL FLOOD RELIEF
A bill providing for the in
auguration of flood control
work on Salmon river at Hy
der has been introduced in the
lower house of Congress by
Alaska Delegate A. J. Dim
ond, who is working hard for
itspassage,according to a press
letter from E. L. Bartlett, the
Delegate’s secretary, received
by the Herald this week. De
tails of the measure were not
given.
The message states that as
surances have been given the
Delegate by the House iflood
control committee that the bill
will be favorably reported.
This means that approval by
the House is almost certain.
Mr. Bartlett points out, howev
er, that in view of the legislat
ion of national importance still
oending, it as problematical
whether the measure can be
pushed through the Senate, al
though Mr. Dimond is endeav
oring to expedite action in ev
ery way.
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Dr. Bushfield Returns
Rev. Frank Bushfield, pastor
of the Hyder M. E. church and
United Church of Stewart, re
turned Monday from Vancouv
er. where he attended the Unit
ed Church conference. Mrs.
Bushfield, who accompanied
him on the trip, remained in
the south and will return later.
32 was 155,000 tons. Seeing
that they were treating 25,000
tons a month, and four months
of the current year had already
gone, it followed from those
figures that they had now 55,
000 tons left. But at their meet
ing on April 8 they stated that
they had from lVo to two years
to run; so that “in the short
•pace of one month,” Mr.
Hockley said, “they had discov
ered not less than another 200,
000 tons of ore!” If the Pre
mier company valued the B. C.
company’s ore bodies, of which
they had full cognisance, by
the same methods and on the
same basis as they valued their
own—and for the last five or
six years they had told their
shareholders that they were
practically finished, and yet
each year the rabbit had been
produced out of the hat, in the
form of another year, or a
year and a half ’s ore—how
could they, Mr. Hockley said,
expect the Selukwe company to
accept their figures as a criter
ion of value? Some working
arrangement will, on doubt, be
come to eventually, but it will
have to be on very different
terms than those previously
suggested.”