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AN ALL
ALASKA
NEWSPAPER
■w
SUBSCRIPTIONS
$5.00 PER YEAR
IN ADVANCE
V,
VOL 4, NO. 28
HYDER, ALASKA, SATURDAY, MARCH 31, 1928.
FIFTY CENTS A MONTH
PREMIER TO TAKE
OVER PORTER IDAHO
Sale of all unissued treasury
stock, of the Porter Idaho Min
ing Company and the transfer
of control of the noted Porter
Idaho mine in the Marmot Riv
er section, to the Premier Gold
Mining Company, operator of
the famous Premier mine, was
announced this week by Clay
Porter, president and manag
ing director of the Porter-Ida
ho company, following his re
turn from a visit in Vancouver.
The stock transfer includes a
total of 1,651,406 shares,
slightly over 41 per cent oi
the authorized 4 million shares
for which the Premier com
pany is to pay $500,000 in
cash.
The sale agreement was con
summated in Vancouver March
21st, by Mr. Porter and othei
officials of the Porter Idaho
company and H. A. Guess,
manuring director of the Pre
mie^R)mpany, and provides
that Premier shall control the
Porter Idaho company and its.'
mining operations. Provision is ;
also made for the installation j
of an aerial ore tramway from
the mine to the mouth of the
Marmot within 30 days from
the ratification of the agree
ment. The tram which will be j
of the all-steel type, has been
ordered from the Riblet com I
pany, which installed the 13
mile tram connecting the Pre
mier mine with tidewater.
The price to be paid by Pre
mier, for the Porter-Idahc
stock is slightly over 30 cent;
per share, the par value oi
which is 50 cents, and consid
erably below the present mar j
ket value of the sHfcres, which ;
have recently been quotec j
above 85 cents on the Vancouv
er stock excnange.
The sale agreement will bt
laid before the stockholders
of the Porter-Idaho companj
at an extra-ordinary genera'i
meeting called for April 16th
The meeting is also scheduled
to witness the resignation oi
the present Porter-Idaho di
rectorate and the election of a
new board with Premier repre
sentation.
The deal is considered in lo
cal mining circles as offering
a great advantage to Porter
Idaho shareholders, as it in
sures the placing of the prop
erty on a dividend basis at tht
earliest date possible.
PREMIER DECLARES
USUAL DIVIDEND
The Premier Gold Mining
Company has announced the
usual $400,000 dividend foi
the first quarter of 1928. The
dividend represents 8 cents pei
share on the 5,000,000 share*
of stock.
With the payment of thit
dividend .shareholders wili
have received a total of $12,
150,937 in dividends in the sev
en years the mine has been in
operation.
Payment will be made on
April 4th to stockholders oi
record on March 15.
-- -
W. C. Blanton returned Mon
day from a business trip to
Vancouver.
DALY-GERARD INTERESTS
MAY TAKE RED TOP
That the Daly-Gerard organi
zation, which recently acquir
ed control of the Rufus-Argen
ta property in the upper Bear
River section, may shortly add
the Red Top group to its ex
tensive holdings, is indicated
| by southern press reports stat
j ing that J. G. Galvin, who in
terested the organization in
Rufus-Argenta, has secured an.
option on the Red Top and was
proceeding to New York with
the expectation of turning the
property to the same people.
I The option was o^ained from
W. Livingstone, of Calgary,
and Wm. McAdams, of Van
couver, and associates, who re
' cently purchased the property
from John McNeil, of Stewart,
and J. J. Connors, of Juneau.
T he Daly-Gerard people are
also said to be contemplating
the acquistion of other proper
ties in the vicinity of the Rufus
Argenta and may ultimately
have over 2000 acres in that
locality.
-o
GOOD PROGRESS ON
B. C. SILVER SHAFT
With three shifts engaged, ex
cellent progress is being made
on the new double compart
ment shaft recently started on
the B. C. Silver at a point in
the lower tunnel a short dis
ance from the Premier bound
ary. The shaft, which will have
both hoisting and ladder com
partments is reported in the
neighborhood of 150 feet in
tlepth. A large station has al
-O been cut at the shaft head
and a short raise has been run
to accommodate the hoisting
machinery. J
TOWBOAT SINKS
AT MOORINGS
The Hyder Lumber Co. tow
boat New Alice developed an
unexpected leak and sank to
the bottom of Portland Canal
while moored to the Hyder
dock last week. The vessel
disappeared during the night
and was under thirty feet of
water when its whereabouts
ws locatd by means of the
mooring lines attached to the
wharf. The vessel was raised
without great difficulty and
will be given an overhauling
before resuming service. The
accident is attributed to loose
caulking.
-o
.
The Friendship Club of the
M. E. Church is holding a
‘Bake Sale” at the Provinse
:tore this (Saturday) after
noon and a wide variety of de
lectable baked offerings are
providing tempting attractions.
-o
P. E. Reese, one of the origi
nal locators of the Porter Ida
ho group, was an arrival from
the south Monday. Mr. Reese
is now a member of the
Rhodes-Reese Nash Co., of Se
attle, agents for the Nash and
other automobiles.
-o
Three passengers arrived from
Ketchikan on the Fairbanks
Wednesday.
WORK PROCEEDING
ON SEBAKWE
Late reports from the Sebak
we property disclose that work
is proceeding on an extensive
scale but has apparently yield
ed no unusual results, the‘area
passed through being mainly
tuffs, showing occasional evi
dences of mineralization but
no substantial ore bodies. One
drift is believed to be on the
edge of a mineralized area and
may encounter ore'shortly. An
extensive diamond drill pro
gram is said to be in preparat
ion.
-o--- '
MORE WOODBINE SHARES
TAKEN IN LONDON
Southern press reports carry
the interesting news that an
other big block of Woodbine
shares has been placed in Lon
don by president J. B. Watson
of the Woodbine company. As
in the case of the earlier Lon
don transaction, the present
deal is for 500,000 shares. The
certificates were shipped to
England several weeks ago
and the closing of the deal on
their arrival was momentary
expected.
-o
SILVER BELL TO OPERATE
The Silver Bell group, will
be on the list of active proper
ties during this coming sum
mer, according to reliable re
ports from Seattle, stating that
a strong financial group, head
ed by Leroy M. Backus, of the
Commercial National Bank of
Seattle, has underwritten the
financing of the Silver Bell
Mining Co. and ample funds
are available for develop
ment.
Tire property, consisting of a
dozen claims, is located on the
western slope of Mt. Rainey,
directly across Portland Canal
from Hyder and in close prox
imity to the Silverado and
Prosperity groups.
The group is said to contain
a mineralized zone on which
a small amount of surface
work was done in earlier years
with promising results.
-o
ALASKA TO HAVE
NEW CAPITAL BLDG.
Alaska is in line for a brand
new capital building at Jun
eau, the building appropriat
ion bill, recently passed by
Congress, having received the
approval of President Cool
idge.
-o--—
Clay Porter, managing di
rector of the Porter Idaho, re
turned Monday from a short
visit in the south.
--o
Dr. C. D. Carter, former local
dental practitioner, is making
preparations to open a new,
drug store in Stewart and may
also re-establish a local dental
office.
-c
Mrs. E. D. Haddon and
daughter Marjori#, left last
week to visit her parents, Mr.
and Mrs. J. A. Hall, in Van
couver.
NORTHERN LIGHT TO
START WORK SOON
Active development work is
scheduled to start on the
Northern Light group early
next month, according to re
cent announcements of offici
als of the newly organized
Northern Light Mines Co., Ltd.
An engineering staff, is now
being organized to take charge
of activities, which will include
the extension of the present
tunnels, in addition to a large
program of general sampling
works. ,
——-o-.
RAILROAD WORK
STARTING UP
Initial construction activities
in connection with the propos
ed reconditioning of the Can
adian Northeastern Railway
started this week, with the dis
patch of crew of men from
Stewart to place the Bear Riv
er bridge in condition for
traffic by the time the snow
is gone, when the work of plac
ing the long disused road bed
in condition is scheduled to
I start.
I
DUNWELL WILL
RESUME ACTIVITY
Operations at the Dunwell
mine will be resumed early
next month, according to an
announcement by R. M. Stew
art, president of the Dunwell
Mines company, who arrived
from Vancouver last week, ac
companied by Matthew Little,
the company mining ^engineer.
Initial activities will be di
rected to exploring the promis
ing Ben Ali vein and work
will also be carried on in the
old workings.
-0-!
STEWART PAPER
PLANS DEVELOPMENT
Keeping pace with the rapid
development of mining and in
dustry in its district, the Port
land Canal News, of Stewart,
iiio».eer newspaper of the dis
trict, will shortly change its
name to “The Stewart News”
and a Linotype type-mak
ing machine will be installed
to supercede the cumbersome
hand-setting methods at pres
ent employed in producing the
journal.
CHICHAGOF MINE
MAKING COME-BACK
Reportsfrom Seattle announce
that the famous old Chichagof
mine is scheduled to become
active again in the near future
as a result of a reorganization
effected recently.
Under the management of
Jas. L. Freeburn, who recently
succeeded G. T. Jackson, ore
deposits were opened up which
warranted redemption of large
scale operations and the re
organization followed.
A bill prepared by the Amer
ican Legion post of Ketchikan
providing for the conduct of'
boxing contests in Alaska, is
before Congress and practical
ly assured of passage, accord
ing to Legion representatives.
NEW SCHEME FOR DE
VELOPING SILVER CREST
Recommending electrical pros
pecting which will locate and
indicate ore concentrations, P.
E. Peterson, consulting engi
neer for the Silver Crest Mines,
Ltd., has advanced definite
recommendations for the Sil
ver Crest property in the up
per Salmon basin, according to
Western Canada Mining News
of Vancouver.
Mr. Peterson believes that if
this process is carried out the
group has every possibility of
developing into an important
mine.
Work so far has been carried
on with the idea that the ore
bodies would be found in the
quartz porphyries, but it is his
opinion that had the same
amount of work been done on
the porphyry contacts below
the slate capping in the green
stone area, a substantial ton
nage of ore would have been
developed. '
It is also suggested that
the ore can be treated by thp
cyanide process. Analysis of a
sample shipment sent to Selby
smelter in 1925 indicates that
the ore is of a type which can
be successfully treated by that
process. If this can be worked
out on a large scale it will
greatly reduce transportation
cost and elminate the usual
smelting process. Cyaniding
has never yet been attempted
in this district and it is Mr.
Peterson’s view that it might
be possible eventually to treat
$5 or $6 ore at a profit.
-o
WOODBINE MILL PLANS
UNDER CONSIDERATION
With ample funds available
for all construction and de
velopment work necessary to
place the property in product
ion, the officials of the Wood
bine Gold Mining Company
are now considering mill con
struction plans, acording to an
announcement made during
the past week by Dr. G. W.
Fletcher, vice president of the
company.
Activities m connection with
mill construction are schedul
ed to start as soon as the snow
has gone.
-o
PIONEERS ELECT
GRAND OFFICERS
At the final session of the
Grand Igloo of the Pioneers of
Alaska held at Ketchikan re
cently, Eric Forss, 83-year-old
pioneer of Ketchikan war
unanimously elected grand
president of the Grand Igloo
for the ensuing year. The com
plete list of officers elected is ,
as follows:
Grand president, Eric Forss of
Ketchikan.
First grand vice president,
Thomas Gaffney of Nome.
Second grand vice president,
Paul J. Rickert of Fairbanks.
Grand secretary, George V.
Love of Valdez.
Grand Treasurer, C. M. Brosius
of Seward.
Grand chaplain, Rev. H. P.
Corser of Wrangell.
Grand historian, Rev. A. P.
Kashevaroff of Juneau.
The Grand Igloo will meet
next year at Cordova.
96 DEAL CONSIDERED
BIG DEVELOPMENT
FOR TEXAS AREA
The recent bonding of the
Ninety-Six group by H. A.
Henton, of Tacoma, is consid
ered by local mining men to be
among the most important and
encouraging developments so
far occurring in the Texas
Creek area.
Not alone is the Ninety-Six
property known to be one of
the most promising in the dis
trict, but it is also pointed out
that Mr. Henton and his min
ing associates are of the type
who literally “go the limit” in
mining development, as indi
cated by their long continued
and costly activities in connect
ion with the development of
the Big Missouri and other
properties elsewhere in which
they have become interested.
What is considered another
encouraging feature of the
deal by some is that Mr. Hen
ton possesses the reputation of
“picking winners.” According
[ to one well known mining man,
his mining deals have almost
invariably turned out to the
good.
It is the general view locally
that in such hands as these,
the Ninety-Six will speedily be
brought to a productive stage
and will also lend a powerful
influence toward hastening de
velopment of other properties
in the Texas district.
Recent advices from Ray Sny
der, who personally-negotiated
the deal, state it is Mr. Hen
ton’s desire to retain Harry
Townsend well known mining
engineer, as consulting engi
neer, if his services can be se
cured. It will be recalled by
Herald readers that Mr. Hen
ton and his associates in the
Standard Mines CTrporation,
acquired the Big Missouri up
on Mr. Townsend’s recommen
dation. Mr. Townsend’s esti
mate of and plans for the Big
Missouri have been fully justi
fied by later development,
while his work in connection
with other Standard activities
have been characterized by
an equal display of mine en
gineering ability, hence his se
lection to direct activites on
the new acquisition is a natural
sequence.
Additional details of the deal
disclose that the bond calls for
payment of $100,000 for the
property over a period of three
years.
-o
Four employees of the Alas
ka Juneau mine were injured
recently when the cable of a
tram car in which they were
riding, fouled and the car was
overturned throwing them out.
The men were taken to the
hospital where it was found
that Harry Warnuck was suf
fering from a badly fractured
leg. William Ott sustained in
juries to his back, Peter Guer
irig was injured on the heel
and Robert Bonar suffered
from shock.
-o
Showing a net profit of more
than $6,000 during the year
1927, the Petersburg Cold
Storage, owned largely by res
idents of that city, recently de
clared a dividend of five per
cent.