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VOLUME 11, NUMBER 14.
HYDER, ALASKA, SATURDAY, DECEMBER 8, 1934.
SINGLE COPIES 10 CENTS
PREMIER - B. C. SILVER
AGREEMENT REPORTED
Long prevalent rumors of ne
gotiations looking to the oper
ation of the B. C. Silver proper
ty by the Premier Gold Mining
Company culminated Thurs
day in an announcement from
Vancouver that a deal has been
arranged and is awaiting rati
fication by the shareholders of
the two comipanies.
The announcement, as re
ceived by The Northern Argo
naut of Stew art in a special dis
patch 'from Vancouver, reads
as follow’s:
Vancouver, Dec. 6.— Subject
to ratification at meetings of
shareholders of the Premier
Gold Mining Company and
sharholders of the B. C. Silver
Mines, Ltd., a deal has been ar
ranged betw’een the two com
panies, whereby the Premier
company will obtain a half in
terest in the B. C. Silver prop
erty and will develop the B. C.
Silver.
A new $3,000,000 company,
w’ith three million shares of $1
par value will be organized.
Premier Gold and B. C. Silver
will share equally in the dis
tribution of the shares. Premiei
Gold Mining Company will not
pay cash for its equity.
Premier Gold will have the
privilege of doing two years
work exclusively on its bwv
ground, or until June, 1937, il
the plant is idle six months
through the effects of the fire
at the power plant, and, at the
end of this time, will presuma
bly have mined out its own ore;
then Premier will commence to
draw ore from the B. C. Silver
property. In the meantime
Premier will carry on intensive
development of the B. C. Silver
ore bodies.
All of the Premier Gold
equipment such as mill, tram
way, power plant and other
w'orks, excepting movable >n
ventory, will at the end of two
years be made available to the
new company, which will be
under the operating c'ontrol of
the Premier Gold Mining Com
pany. It is in return for these
facilities of production that
Premier Gold receives its inter
est in B. C. Silver’s known and
valuable ore deposits.
All actual development costs
until B. C. Silver goes in pro
duction will be returnable to
the Premier Gbld Mining Com
pany, however, out of the first
earnings from the B. C. Silver
ere. The new company will
take over development at the
B. C. Silver as from January 1,
1936.
B. C. Silver negotiations in
the past have been delayed by
a dispute as to the value of the
ore indicated and blocked out,
I November Production Of
Dunwell Mine 1509 Tons
Ore production at the Dun
well mine totaled over 1500
tons in November, according to
announcements made in Stew
art last week.
Approximatey half of the to
tal was run through the con
centrating plant, while some
700 tons fr'om the main
workings and 100 tons extract
ed from the Ben Ali claim was
shipped to the Anyox smelter.
o
Dimond Forsees Air
Corps For Alaska
Declaring that the need of
an adequate system of air de
fenses for the United States
and part of Alaska would oc
cupy any organized defense
program being recognized
throughout the country, Alaska
Delegate A. J. Dimond de
clared in a Washington inter
view last week that he w'ould
have the support of all con
gressmen interested in ade
quate defense for his-plan to
establish a major airport in
Alaska in the vicinity of Fair
banks.
-o
Stewart Show Shop
To Open Next Week
The Carolan motion picture
iheatre, Stewart’s latest amuse
ment resort, will open its doors
next Saturday, Dec. 15, accord
ing to the latest announce-'
ments. Mr. Carolan expected
to have the show open next
Monday but was forced to
postpone the event owing to
the non-arrival of the necess-1
cry machines.
^he British interests claiming
about $7,000,000 worth and
'.he Premier interest claiming
Ti'ore nearly $4,000,000 worth
)f ore. The increase in price
of gold has brought this mini
mum value up to approximate
ly $7,000,000.
The main ore body is about
120 feet long and from 8 to 10
feet wide, with ore slightly
over one ounce gold per ton, or
obout $38 a ton at today’s price
of gold.
There is considerable certain
ty that shareholders of both
:ompanies will ratify the deal.
One million and five-hundred
ihares have already bean issued
:o Premier Gold Mining Com
pany.
H. A. Could, secretary 'of the ‘
B. C. Silver company states j
that “no deal has been conclud- j
ed,” but does not deny that ne-j
gotiations are proceeding.
ANNUAL LIBRARY
ELECTIONS HELD
The annual general meeting
j of the Hyder Public Library
| incorporation was held Friday
| evening in Chamber of Com
J merce hall and resulted in a
| number 'of important changes
[ in previous methods of con
ducting the library.
It was decided, as a result of
present limited patronage and
revenues, to temporarily aban
don the practice of keeping
the library open on certain
days and to substitute a sys
tem whereby regular subscrib
ers may return and receive
books at any time within busi
ness hours by applying at the
Boundary Gift Shop, where
books taken out or returned
will be checked and signed for
by the subscriber.
Resolutions were also ap
proved providing that sub
scribers who fail to pay their
monthly dues within the pre
scribed period will be notified
of their delinquency and must
pay all arrears within 30 days
or be wholly debarred from
further library privileges. De
linquencies of this nature have
been so persistent the board is
firmly delermind to strictly en
force the new regulation re
gardless of whom it may af
fect. In other words, those
who cannot remember to pay;
the excedingly small fee when ;
it is due will receive no more;
books.
The old board of directors,
consisting of F Reichenback,
B. B. Smi'h, Cl'as F. Sandford,:
Mrs. N. M. Traversy and Mrs.
H. W. Thomas, were reelected
and Messrs. Sandford and
Reichenback were chosen to
succeed themselves as presi
dent and vice-president of the
board. Mrs. E. L. Dale, whose !
highly efficient services as sec-!
retary were warmly commend-1
ed, was reelected to the same j
position. Mrs. N. M. Traversy, j
who served as assistant librar- j
ian with exceptional efficiency'
and fidelity during the past
year, was elevated to the poot
of librarian. Mrs. H. W.
Thomas, Richard Wirth and
B. B. Smith, retiring librarian,
were named as assistant librar
ians.
T. H. Evans, who has held the !
post of treasurer since the li-!
brary was organized, w a j
again elected i'o fill that posit
ion by unanimous vote.
The former book purchasing;
committee, Mesdames H. W.
Thomas, J. L. Campbell and J. |
A. Hall, were reapp’ointed for I
the ensuing quarter and re
ceived warm praise for the ex
cellent services they have ren
dered in that capacity.
Mrs. Holger Johnson, Arthur
Seattle Chamber To Urge
Alaska’s Developmen
The Seattle Chamber of Com
! merce made public Saturday i
; program for Pacific Northwes
j and Alaska development'it wil
: place before the new congress
In addition to an extensivi
j list of development proposal:
for the northwest, the progran
includes establishment of aii
mail service to Alaska, devel
opment of army and naval has
es in the Territory, construct
ion of more roads and trails
approval of harbor projects a
Sitka and Petersburg, and all
ccation o f adequate relie!
funds for Nome fire sufferers
-o
Silver Deluge Fails To Appeal
Eight months (if operatior
have shown that the claims oi
the anti-silverites that increas
ing the price of silver would
result in a deluge of the white
metal were far from correct.
Silver production from Jan
uary to August amounted to
only 17,652,000 ounces in the
United States, according to
Western Mineral Survey. This
is at the rate of 2,200,000 ounc
es a month, and would give a
total output of about 26,000,
000 ounces for the year. As
this country produced 22,000,
000 ounces in 1933, this would
be an increase of less than 20
per cent and would not equal
the normal output of 60,000,
000 ounces a few years back.
o
Juneau Slayer Given Life Term
Charles Holmer, Douglas res
ident, charged with the mur
der of his wife, Mrs. Mary
Holmer, and Alan A. Miller,
former Ketchikan man, plead
ed guilty and was sentenced co
life imprisonment by Judge G.
F. Alexander in the district
court at Juneau last week, ac
cording to Juneau reports.
Miller and Mrs. Holmer were
shot down by Holmer in Jun
eau last July after they had at
tended a dance together. Hol
mer shot Miller twice in the
back before turning the gun on
his wife in the presence of nu
merous witnesses and firing
eight shots into her right
breast.
The new Premier power
plant building is to be 50 by 70
feet and constructed of metal
throughout, according to re
port-’ from Premier.
Hall and B. B. Smith were
appointed to audit the books
and report at a special meeting
to be held Friday, January 4,
1935, at 7 p. m.
TELLS INFLATIONISTS
t TO AVOID HASTE
Senator Elmer Thomas, of
t Oklahoma, leading apostle of
. inflation, has decided that in
l flationary efforts in the next
. Congress should be deferred
: until the results of what he
i termed “the President’s man
i date to business to improve
• conditions” have become ap
• parent.
Thomas said in a statement
last week that he counseled a
waiting game by monetary re
formers, believing there should
be a period of waiting for re
sults of the President’s recent
gesture to business, which in
dicates Mr. Roosevelt wanted
industry left with a free hand
for the next few months, to see
what can be done.
If material improvement re
sulted, there would be little
chance for favorable inflation
ary action in the next session,
Thomas said, adding that 'in
flationary strength will grow if
business efforts fall short.
Says Iron In Alaska
Throws Ship Compasses Off
There is so much iron in Alas
ka that the compasses of ships
approaching her shores get
thrown off as much as 15 de
grees, according to one Merril
K. Riddick, who is said in press
reports to be organizing an
aerial expedition in New York
to exploit Alaskan mineral re
sources.
Not alone is Alaska chock full
of iron, but is positively “reek
ing with gold,” Mr. Riddick in
formed representatives of the
eastern press, as he “sat in a
hotel room littered with maps,
claim papers and charts,” and
iold of the opportunities which
he said await the “stout heart
ed adventurer in Alaska.”
“You have no idea of the op
portunities up there,” quoth he
to the eager scribes. “Not only
in gold, but in timber, coal iron
and copper as well. Why, the
surface has hardly been even
scratched.”
Riddick, who is described as
a son of a former Montana con
gressman, claims to have pros
pected three years in Alaska,
-o-—
Day Tunnel In 400 Feet
The tunnel from the Day
group into the Big Missouri
mine is reported in around 400
feet, with approximately 1600
feet to go, according to calcu
lations. At the present rate of
progress the long bore will
be completed early next sum
mer. Some figure it in the lat
i ter part of May.