The Hyder Weekly Herald
Established 1924
Published Saturday at the Herald
Building, Second Ave., Hyder, Alaska.
Ghas. F. Sandford
Sole Owner and Publisher
Kntered ns second-class matter at the
postoffice at Hyder, Alaska, under the
act of March 3, 1871).
Subscription price $3.00 per year in
advauce by mail or carrier
Advertising Rates on application.
OUT OF TOWN SUBSCRIBERS
When you move report your new
address to the Herald, instead of to
your local postoffice. Unless you do
so, your papers will not be forwarded
by the postoffice without payment of
extra postage for forwarding. Just
writs your old as well as your new ad
dress on a penny post card and mail
direct to us.
Economists Differ Over
Administration Gold Policy
The fir -t anniversary of the
Administration drive to re tore
prices by lowering the gold
value of the dollar found the
economists still quarreling
about the potency cf the move
ment, according to Washington
reports.
Since the policy was inaugu
rated on October 25, 1933, the
price of gold in terms of dol
lars has increased from $31.09
to $35 while wholesale com
modity prices moved up 7.3
per cent to a position on Octo
ber lo ot Yb.4 per cent ct tne
1926 average. Since the bank
holiday and suspension of the
right to receive gold for paper,
wholesale commodities moved
up about 28 per cent, although
most of these increases oc
curred before the gold purch
ase program began. However,
there is said to be absolutely
no unanimity among the econ
omists on the subject. Some are
said to hold that cheapening
the dollar makes ifor bad busi
ness, while others contend that
the way back to prosperity is
to raise the dollar in its rota
tion to the price of gold.
Which again emphasizes the
oft-repeated assertion of Ar
thur Brisbane that we know
very little about money.
Few Qualify For Mine Loan*
Only one out of more than
4,000 applicants for RFC mine
loans was able to qualify as to
the security demanded, ac
cording to a recer.'!: statement
by Jesse Jones, chairman of
the Reconstruction Finance
Corporation.
The regulations under which
such loans are granted provide
as a first consideration that the
applicant must have a “proved
undeveloped body of ore” to
pledge as security for a loan
for refinancing or capital im
provement.
The task of “proving” an un
developed ore body to the sat
isfaction of the RFC officials
is probably a greater task than
most mine owners can accomp
lish.
Premier Well Up To
Average Production Ratio
The production average of
the Premier mine for the first
six months of 1934 was not
greatly below the monthly av
erage for last year, according
to production figures published
in Western Canada Mining
News, of Vancouver.
According to the annual re
port, $934,235 was recovered
from 175,774 tons of ore milled
during 1933. During the
first six months of the present
year, recovery from 'the 91,
850 tons of ore handled was
21,696 ounces of gold and
357,730 ounces of silver, of an
estimated value of $758,794.
If the 'figures quoted are cor
rect,there has apparently been
no more than a relatively
small reduction in ore product
ion and values recovered as
compared to the average for
six months last year.
The ore average for this year
is placed at about $8.21 per ton
of ore. It is Stated, however,
that the advance in the price
cf gold and silver has offset
Jthe decline in output this year,
i Preliminary estimates of the
; output for the first nine
| m onths of 1934 are 137,000
j tons of ore, with 32,000 ounces
j of gold and 530,000 ounces of
ilver.
Whiles Ordered To
Leave Georgia River Area
James Lidden, who has pros
pected in the Georgia River
section since 1905 and resided
at the mouth of the river, has
moved into Stewart as a result
of an order posted by the Can
adian Indian Department de
manding that all white persons
residing there vacate by Octob
er 12, owing to the area being
included in an Indian reser
vation.
The order is said to have
been the result of some dis
pute between the department
and the Georgia River mining
company in which the Indian
bureau has been unable to se
cure a satisfactory settlement.
As the prohibited area in
avenue of entry into the Geor
gia River mineral belt, the or
der will cause considerable
hardship to prospectors.
-o
Alaska Notable Mentioned
In Current “Who’s Who.”
The names of twenty-seven
prominent Alaskans are listed
in the 1934-35 edition of
“Who’s Who in America,” ac
cording to a recent article in
the Ketchikan Chronicle.
This was said to be an in
crease of eight na'mes over the
numiber presented in the 1932
33 book.
The persons mentioned in
clude 11 lawyers, 5 judges and
former judges, 2 church prel
ates, 2 bankers, 2 governors
and former governors, 1 engin
eer, 1 minister, 1 missionary,
1 Alaska Delegate, 1 business
man and two others.
Juneau Mining Properties
Reported Leased
The Peterson mining proper
ties at Pearl Harbor, 24 miles
north of Juneau, have been
leased to the Holland Mining
company by their owners, Mrs.
M. W. Peterson, Mrs. I. M. Ol
son and Charles Olson. The
property was operated success
fully on a small scale for sever
al years.
The Holland Mining com
pany is the principal nerofwo
pany is headed by Capt. John
C. Holland, who is also the
principal owner of the Holl
and-Alaska G6ld Mining Com
pany, with a property on Her
bert glacier. A number of oth
er Californians are said to be
associated with him in both en
terprises.
-—o
September Silver Production
World silver production in
September was 14,889,000 fine
ounces compared with 15,436,
000 ounces in August and 13,
667.000 ounces in July, accord
ing to the American Bureau of
Metal Statistics.
Stocks of silver at refineries
in the United States were 5,
465.0000 ounces against 5,
068.000 ounces for the preced
ing month.
Stocks cit silver in refineries
in Canada at the end of Sep
tember were 2,739,000 ounces,
against 2,257,000 ounces at the
end of August.
Treasury To Report
Seigniorage Profits Daily
Seignoirage or profit arising
from the issuance of certifi
cates against silver bullion
purchased under the silver
purchase act will be reported
daily hereafter, according to a |
recent Treasury announce-1
ment.
Figures issued up to October
16 showed $3,171,296 derived
from this source for the fiscal !
year beginning July 1 to that
date. This was in addition to j
$50,013,144 derived from the
issuance of certificates against
approxi matel y.. 62,000,000
ounces of silver previously held
in the treasury, plus newly
mined silver acquired under
the President's proclamation of
last December.
-o
New Mineral Carries Gold
Word comes from Soviet Rus
sia of the discovery in platinum
ore of an hitherto unknown
mineral which contains iridi
um, osmium, gold and ruthen
ium.
The new mineral is described
as being ,of whitish color, with
a silvery, metallic appearance,
and is found in small grains of
irregular shape together with
platinum. It is very hard,
fragile and of high specific
gravity.
The discovery was announced
by a noted metallurgist, Prof
essor Zviaguistev of the Plat
inum Institute.
CHAS. F. SMDF9RD
NOTARY PUBLIC
HERALD OFFICE
PORTLAND CANAL LODGE
1218
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