Captain Axel Olson, former
ship master and now a ranchei
in the Matanuska Valley, re
cently made preparations for
filing a claim against the
United States government in
the sum of $39,000 covering
estimated loss to him due tc
having his license as a sealer
confiscated twenty-eight yean
ago. Many years ago there was
a sealing industry plying ofi
the coast of Alaska, employ
ing thousands of men. Ameri
can and foreign boats entered
this business, which was e.v
| tremely profitable. Then the
foreign seal poacher entered
i the field and in order to put I
a stop to the illegal catching!
of fur seals, that Would event
■ ually cause their extinction,
! the United States government
started confiscating boats and
1 licenses of all people engaged
in the business, including those
! of Americans. The loss incurr
ed by owners operating under
licenses was estimated ot $5,
000,000, but adjusting the
claim has been under .advise
ment for some 28 years.
earn
B
«*
LETS GO. WHERE? TO THE
- Silver Grill -
Steaks, C hops, Poultry
EVERYTHING THE M A R KET AFFORDS
§ QUALITY and QUANTITY §
FINE PASTRIES— ITS THE COFFEE!!!
Charlie J. Odermat, Manager.
" ..i
STATEHOOD FOR ALASKA
THIRTY FOUR YEARS
RESIDENT OF ALAS
KA. TEN YEARS A
MEMBER OF THE TER
RITORIAL LEGISLAT
URE
EIGHT YEARS CHAIR- j
MAN OF SENATE FI
NANCE COMMTTL
PAST GRAND PRESI
DENT PIONEERS OF
ALASKA.
VOTE FOR
Senator Frank A. Aldrich
Republican Primary Candidate for Delegate to Con
gress, Tuesday April 27, 1926.
SEND IN YOUR
SUBSCRIPTION
TO T1IE WEEKLY HERALD
EZE
THE HERALD
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DEPARTMENT
lil ’SINESS STATIONERY
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BUSINESS DIRECTORY
A quick reference list of pro
gressive business firms which
advertise in the Herald and
what they handle.
Assaying—
John Hovland
Automobiles—
Hyder Machine Shop
Automobile Supplies—
Hyder Machine Shop
Hyder Mercantile Co.
Banks—
Bank of Hyder
Barber Shop—
Malamute Barber Shop
Bakery Goods—
Quick Lunch.
Silver Grill.
Ideal Cafe.
Hyder Grocery.
BlacksmithSng—
Hyder Machine Shop.
Clothing—
Hyder Mercantile Co.
Cleaning, Pressing—
Robert Nakki
Chinaware Crockery—
Hyder Mercantile Co.
Curios—
Midget Emporium.
Hyder Drug Co.
Card Rooms—
Malamute Cigar Store.
Northern Pool Hall
Drugs—
Hyder Drug Co.
Dairies—
Hyder Dairy
Electrical Supplier—
Hyder Mercantile Co.
Explosives—
Salmon River Dock. Co.
Fuel—
Hyder Fuel Company
Sainton River Dock Co.
General Supplies—
Hyder Mercantile Co.
Groceries—
Hyder Grocery.
Hyder Mercantile Co.
Green Goods—
Hyder Grocery.
Hyder Mercantile Co.
Gas Engines—
Hyder Machine Shop.
Hotels—
Golden Gate Hotel.
Hardware—
Hyder Mercantile Co.
Jewelry—
Nugget Shop.
Hyder Drug Co.
Midget Emporium.
Laundry—
Portland Canal Electric
Machine Shop—
Hyder Machine Shop.
Meat Markets—
P. Bums & Co.
Notary Public—
Ernest Blue.
Plumbing, Steamfitting—
Gilbert Berg.
Hyder Machine Shop.
Printing—
Hyder Herald.
Pool Rooms—
Northern Pool Hall
Professional—
Ernest Blue, Attorney.
Photo Supplier
Midget Emporium.
Hyder Drug Co.
Restaurants—
Ideal Cafe \
Silver Grill
Quick Lunch
Smokers Supplies—
Malamute Cigar Store.
Northern Pool Hall
Midget Emporium
Hyder Drug Co.
Hyder Mercantile Co
Golden Gate Hotel
Stationery—
Midget Emporium
Hyder Drug Co.
Steamship Agencies—
Salmon River Dock Co.
Toilet Preparations—
Hyder Drug Co.
Midget Emporium,
REPORT SHOWS
PREMIER STATUS
Continued from Page 1
west strike, beyond the area
covered by the present mint
workings.
The exploration and develop
in area No. 4, namely, beneath
the surface showings on the
Pictou and Cascade Falls No.
8 claims, showed that these
deposits carried no commercial
ore at depth, this being also
stated in the annual report for
1924.
The exploration and develop
ment of the past year in the
important area No. 5 has not
as yet been sufficient to per
mit of any estimates of ore be
low the 4th level. Work was
done on both the 6th and 5th
levels. On the 6th level, which
is 550 feet below the'4th, the j
main ore zone was picked up
and followed northeast for
some 200 feet but it was nar
row' and carried practically j
no values. Further develop
ment on the 6th level will be
deferred until development
on the 5th level has shown the
extent, course, and value of
the main N. E. S. W. ore zone
on that level. Development
during the past year, on the
5th level has found and follow
ed the main ore zone for 100
I feet or more w'ith fair widtn
1 and considerable mineralizai
: ion but the gold-silver values
■ have been very low, so that
! no commercial ore has as yet
been opened up. This, work,
! however, is still confined to the
southwest end of the main ore
zone and has some 1400 feet
of ore zone to explore going
northeasterly beneath the ore
opened up for that distance on
the levels above. It is likely
therefore that a considerabe I
tonnage of ore of profitable,
‘though of quite moderate val
S ue, will, during 1926, be open
! ed up by further work on this
5th level.
; A new orebody of probably i
j only moderate importance as
j to tonnage and value was I
found toward the end of the
| year by some flat diamonu
drill holes, running S. E. from
the main orebody upon No. 1
( level. This new orebody run&
Approximately parallel with
the main ore zone and about
200 feet therefrom. It has
been drifted upon for 200 feet
or more with an average gold
silver value of about $14 for
a 6 ft. width. Drifting is being j
| continued and the persistence
of this ore at depth will be in
vestigated by drill holes from
the 2d and 3rd levels. No ton
i uage from this new orebody
has been included in the ore
estimates as of December 31st,
1925, as it is not as yet suffici
ently developed.
The total earnings for 1925
before deducting Administrat- j
ion excuse, taxes, depreciation ;
and ore depletion, were §2,
013,481.60 or $708,124.31 less:
than in t he year 1924. This
decrease is due to the gradual
exhaustion of the high grade
ore so characteristic of the
earlier production years of
the property, and the conse
quent lower average grade of
the ores mined. It was in view
of this situation that the doub
ling up of the milling capacity
for low grade ore w'as under
Tranfer Companies—
Sam Potts
Crawford Transfer Co.
Tinunitliing—
Gilbert Berg.
taken last year, the benefits
of which will begin to ap
pear upon the completion ir
March of the new mill unit.
It will be observed that, as
deduction from total earnings
taxes for 1925 are $405,848
.48 compared with $188,932,
.35, in 1924, even though the
earnings in 1925 were less
This is due to a new ruling
made last year by the Finance
Minister of British Columbia
with respect to permissible de
ductions from earnings, for
ore depletion, in arriving at
taxable earnings in conform
ity with which ruling, your
your Company was required to
pay. the Provincial Govern
ment of British Columbia
$213,990.99 as additional tax
es for preceding years. At the
same time the Finance Minis
ter reduced the Provincial tax
from 10 per cent to 8 per cent,
upon net earnings. Even with
this reduction to 8 per cent,
however, the fact remains that
metal mining operations in
British Columbia, taking also
into consideration the Domin
ion of Canadia tax, have a
heavier burden of taxation
than in any other Province oi
i Canada or in any part of the
United States.
The estimated ore reserves
as at December 31st, 1925 are
a3 follows:
Ore broken in stope3 243,511
jons averaging 0.64 ounces
gold and 14.7 ounces silver.
With gold at $20 per ounce
and silver at 60 cents per
ounce, this represents a gross
value of $21.62 per ton.
Assured and probable un
broken ore down to the 4tn
level of the present mint
workings 3i6,484 tons averag
ing 0.52 ounces gold and ISo
ounces of silver. With gold at
$20 per ounce and silver at
60 cents per ounce, this repre
sents a gross value of $18.56
per ton.
Also as stated in last year’s
report, there has been indicat
ed by diamond drilling below
'he 4th level 146,000 tons av
eraging 0.39 ounces and 3.2
ounces silver. As mentioned
elsewhere in this report, more
information concerning the
ore possibilities below the 4th
level will be gained by
the contemplated development
during this year on the 5th
level which is 270 feet below
the 4th.
A summary of mining operations for 1925, also for compar
ison, those of 1924, is as follows:
1924
Diamond Drilling (feet) . 15,838
Development Drifts and Raise: (feet) ..7 333
Total Diamond Drilling to data (feet) 51,582
Total Underground Workings (feet).. 27,266
Ore Mined (dry tons) . 159,014
Ore Milled (dry tons) .. 61,965
Ore Shipped to Tacoma (dry tons) .75,917
Ore shipped to Granby (dry tons). 21,132
Table Concentrates shipped (dry tons) ..6,302
Flotation Concentrates shipped (d. tons)2,222
Precipitates Shipped to Selby (tons) . 13.55
Ounces Gold Produced .139,288
Ounces Silver Produced . 3,015,382
Pounds Lead Produced . 452.010
Broken Ore Reserve, Dec. 31 (tons) ..147,880
Ore Broken During Year (tons) .213,894
Average Price Silver (per ounce) .66.78
1925
13 500
5,684
65,082
32,950
168,557
55,704
89,219
23 634
1.328
5,029
7 95
119,725
2,559 192
870,971
243,511
264,183
69.06
(Uivr lUUYLi ruJDiiiVjAiiuw »
REPORT OF THE FINANCIAL CONDITION
OF *
The Bank of Hyder located at Hyder Territory of Alaska,
at the close of business on the 5th. day of April, 192G_
RESOURCES
Loans and discounts .
Loans on real estate .
Overdrafts ..
United States bond and securities.
Other bonds and warrants..-.
Stocks, securities, judgements,claims, etc.,..
Banking house, furniture and fixtures .
Other real estate owned ..
Due from other banks..
Checks on ether banks and othtr cash items
Exchanges for clearing house.
Cash on hand......
Expenses in excess of earnings...,.
43.583.93
33,458.35
2,435.45
... 200.00
... 360.0U
. 6,500.00
919.80
12,736.86
. 1,324.64
5,836.30
TOTAL.;. 107.355.S3
__LIABILITIES _
Capital stock paid in .."...... 25,000.00
Surplus fund . 6,000.00
Reserves ...
Undivided profits less expenses paid . 8,412.65
Dividends declared but unpaid.....*.
Due to other banks....,.
Demand deposits. 66,939.55
Time deposits. 500.00
Cashier’s and certified checks. 3.18
Notes and bills rediscounted.'..-.. 5,50u.00
Bills payable (including certifi rates of deposit) for
money borrowed ...
TOTAli 107,355.33
United States of America )
Territory of Alaska ) ss.
First Judicial Division ;
I, E. D. Haddon, Cashier of the above named bank, do
solemnly swear that the foregoing statement is true to the
best of my knowledge and belief.
(Signed)
(Notarial Seal)
Subscribed and sworn to be
fore me this 12th. day of April,
1926.
Ernest Blue
Notary Public in and for the
Territory of Alaska. Mv com
mission expires Nov. 17-1926.
E- D. Haddon
Cashier
(Correct Attest)
J. A. Hall.
I. H. Haddon
Directors or Partner*