HYDER - FIRST ALASKA TOWN THAT CAN BE REACHED BY THE PACIFIC - YUKON V ALASKA HIGHWAY
r
SPECIALIZING IN
MINING NEWS OF THE
PORTLAND CANAL
DISTRICT
HYDER WEEKLY HERALD
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SUBSCRIPTIONS
$3.00 PER YEAR
IN ADVANCE
V.
J
VOLUME NO. 8, NO. 39.
RYDER, ALASKA, SATURDAY, JULY 9, 1932.
BY THE YEAR $3.00
I
SAYS SILVER MAY BE
CAMPAIGN ISSUE!
With world finances facing a
crisis and domestic business in
grave straits, the coming presi
dential campaign probably will
see the silver question become
an important issue, according
to Washington press reports.
Both parties have accepted
silver planks in their platforms
and it is also certain that the is
sue will play a prominent part
in the deliberations of congress :
during the short session which
convenes in November, the re
ports say. In short it appears
very likely to become the
source of a national controver
sy as great as that which agi
tated the country thirty-five
years ago under the leadership
of Bryan.
Behind the resurrection of
the issue is a three-fold object,
according to the reports.
By those who believe in the
qualitative theory of money, it ,
is held that with more actual
tender in circulation, as silver
certificates and actual silver;
coin, money values would be
deflated and comodity prices ]
inflated, with attendant rehab- ,
ilitation of industry. It is also
contended by a group led by | j
senator Borah that by re-estab- i
lshing the monetary value of j |
silver in international trade, - j
the buying power of China,
Mexico, India and the South ^
American republics would be
restored and world trade (
would enjoy a powerful boom.
It is held further that inter- j
national monetization of silver (
would settle the problem of ,
world debts and reparations, .
as it would make it possible for r
Germany, with plenty of silver t
available, to pay her debts to
France, Italy, and England, for
those nations to pass the money
along to the United States.
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.
Chamber of Commerce t
Dinner Postponed '
\
- f
The monthly dinner meeting *
of the Hyder Chamber of Com
merce, scheduled for next *
Wednesday, has been post- s
poned, owing to the Friendship j 1
Club ladies being unable to | I
see their way clear to handle j i
the function at this time. | (
The inability to hold the din- (
ner at this time is greatly re- j 1
gretted by the Chamber mem- i
bers, as the monthly dinners i t
served by the Club have proved j (
a splendid means of attracting j I
attendance on the part of citi-1 (
zens who are not members of j 1
the organization, thereby in-11
during many to become inter-1 (
ested in and to lend their assist- \
ance to the work done by the ; 1
Chamber for the communal (
benefit. 1
Just when the ladies can 1
again undertake the catering i <
function is undecided at pres- (
ent, but it is hoped that it will \
not be Iqb?. 1
Independence Day Celebration
Hyder’s celebrated of the
Glorious Fourth was a distinct
success in every particular, al
though somewhat abbreviated
in scope as compared to earlier
years, and was greatly enjoyed
by residents of the district
from both sides of the internat
ional boundary line. In fact
the crowd of celebrants includ
ed more Canadians than Amer- j
icans.
The program was carried out |
m the ball grounds and includ- !
id field sports for the child
ren, in addition to some for the !
adults, a soft ball game be- j
:ween the Hyder and Stewart 1
teams, and a base ball game
oetween a composite Hyder
Stewart team and the Premier
:eam, the latter being the in
tial game in the annual Hiam j
Uup series.
The program was concluded
,vith a dance in Pioneer Hall
ander the auspices of the Pion-1
;ers of Alaska which proved a j
nost enjoyable event and was J
ittended by a large crowd.
The streets and many of the :
business houses were gayly!
lecorated with the national !
•olors and presented a decide- i
y festive appearance, while j
he small boy and his fire j
rackers provided ample en-;
husiasm of the noiser type.
Hyder won the soft ball game j
>y the close score of 11 to 12
n a hard fought contest full of ’
ixciting moments and good 1
>laying by both teams. Pre
nier carried off the honors in
he baseball contest by a score
if 12 to 15. The game was a
ast one throughout. For the \
irst few innings it looked like
walk-away for the Hyder
itewart team, but the mine ag-!
:regatj.on rallied and gradually
orged to the front by close
ilaying and hard hitting.
The contest was somewhat
narred by the injury of Sam. |
dcNeill, crack pitcher of the
[istrict, who was in the box i
or the locals. Mr. McNeill,
vhile sitting on the side lines,
('as struck in the face by a
oul ball and sustained a badly
ractured nose.
Following are the names of j
he winners of the various field i
ports: i
laces —
Jnder 6 years, T. Jadroe- L.!
Armstrong.
Jirls-6 to 8 :Tozier-Armstrong.
lirls- 8 to 10- Murphy-Reld.
Joys- 8 to 10, Heineke-Legge.
Joys- 10 to 12, Murray- Hein
ke.
lirls- 10 to 12, Pavola-Murphy
Joys>- 12 to 14, Hansen-Reid.
lirls- 12 to 14, Young-Rice.
Joys- 100 yds. open, Hansen
4urry.
lirls- 75 yds. open, Young-Pa
ola.
lanson; Murry-Heineke.
iirls- 3-legged, Rice-Young;1
leid-Pavola.
Joys- sack race, Hanson-Hein
ky.
Jracker eating contest: M. Pa
ola- D. Heineke.
lorseback wrestling: Hanson
YUKON ROAD PROJECT
ALIVE BUT INACTIVE
While the British Columbia
government is anxious for the
construction of the Pacific- Yu
kon righway project, its finan
cial status at this time makes
impossible any active steps to
ward its initiation, it was de
clared recently by Major Mal
colm Elliott, president of the
Alaska Road Commission and
member of the International
Board to study the project, ac
cording to the Juneau Empire.
The Empire states that
Major Elliott conferred recent
ly with the officials of the De
partment of Public Works in
Victoria and said this depart
ment is of the opinion that the
project should be kept alive for
consideration when conditions
are more favorable.
Canadian Naval Vessel
To Visit District in August
H. M. C. Skeena, of the Can
adian Navy, will visit the dist
rict next month for three days,
according to a letter from the
Department of Naval Defense
at Ottawa received this week
by Mayor Gibson of Stewart.
The communication said the
vessel would arrive here Aug
ust 15 and leave August 18 and
expressed the hope that 'inas
much as the visit would be of
informal character local resi
dents would not go to any ex
pense to provide a reception.
•o
Pay Of Court Witnesses
And Jurors Reduced
Instructions received by U. S.
Commissioner Chas. F. Sand
ford late last week announce a
[■eduction of one dollar a day in
:he pay of jurors and witnesses
appearing in the Commission
re’s court after July 1.
Under the new schedule jur
ars before Commissioners will
■eceive $4 per day, instead of
i>5, while witnesses will be paid
£2 per day, instead of $3.
The indicated reductions
were ordered by the Attorney
General of the United States,
according to the instructions,
which were signed by U. S.
Marshal Albert White.
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P. C. Power Company
Engineer Coming
Edwin R. Wright, chief engin
eer for the Portland Canal
Power Company, who has been
for several weeks at the site of
he company’s proposed power
levelopment project on Davis
,’iver, is expected to visit Hy
ier within a few days.
McCarthy; Matheson-Heineky.
Ladies race: Mrs. Armstrong
Mrs. Blue.
Married Men’s race: Morrice
Kirkpatrick.
Children’s mixed: A. Heineky
3. Young.
Grand scramble: B. Reid-A.
Heineky.
BROWNELL EXPECTS
SILVER ACTION SOON
Francis H. Brownell, chair
man of the board of American
Smelting and Refining comp
any, is reported as saying on
his return from a recent trip to
Europe that there were indi
cations that “something would
be done soon to further the use
of silver.”
“The question of what should
be done,” said Mr. Brownell,
“is receiving profound consid
eration by European statesmen,
because it is one of the most
important problems with which
the world is faced today.”
A statement that economic
recovery hinges upon what the
United States is willing to do to
rehabilitate the value of silver
was made recently in Los Ang
eles by J. G. Ridland, secre
tary-treasurer of the Imperial
Bank of India. Mr. Ridland’s
statement was made at the con
vention of the American Insti
tute of Banking, at which he
was an unexpected guest.
Ridland said the abandon
ment of the gold standard by
England and other countries
has strangled America’s for
eign trade. The difference in
exchange added 50 per cent to
the cost of United States prod
ucts in India, he said.
“Suppose the price of silver
was raised,” he continued. “It
would immediately increase
the wealth of all countries on '
the silver standard and tend to j
make it possible for them to J
purchase American m a d e i
goods. I believe silver should j
be linked with gold in some '
way to stabilize the value of j
the dollar.”
The Associated Press an
nounced a few days ago that
the United States had agreed
to participate in an “internat
ional economic conference” to
be called in London. The date
and program had not been set,
but the agenda would include
“tariff quotas, monetary re
forms and all subjects relating'
to commerce and banking.”
France, Italy and other Euro
pean powers were to take part,
the report said, leaving the
impression that Great Britain
had informally taken the initi
ative.
u
Premier Couple Wedded
Mr. George W. Naysmith.
prominent member of the Pre
mier forces, and Miss Lily M.
Davidson, also of Premier,
were united in the matrimon
ial bond last Thursday at Pre
mier by Rev. G. H. Moody of
Stewart. The couple are
among the most popular mem
bers of the younger generation
in the camp and were given an
elaborate start on their voyage
across the matrimonial sea by
the mine community.
Claimed Ore Discoveries
Enhanced Premier Share)
A recent sudden advance ol
eight cents in Premier shares
in the East is claimed by Van
couver mining publications to
have been due to recent discov
eries of new ore reserves in the
Premier mine. Share quotat
ions of 44 cents were reported
to have advanced to 52 cents in
the course of a brisk upward
movement.
While no information relat
ive to new ore discoveries ha
been made public here, it is
clearly indicated in the last an
nual report of the company, a.
well as in earlier reports, tha*
important new ore discoveries
are not infrequent during each
year of operation.
By way of ilustration, it may
be pointed out that the last an
nual report showed ore re
serves amounting to 369,205
tons on December 31, 1930
Ore mined during 1931 was
placed at 242,317 tons. Ex
eluding new ore discoveries
from reckoning, the deduction
of this amount from the reserve
at the close of 1930 would
leave on hand at the close of
1931, a total of only 126,888
tons of ore. We find, however
that the 1931 report gives the
ore reserves on December 31.
1931 as being 253,628 tons.
The additional 126,740 tons
appears to have been due at
least in a large degree to new
ore discoveries during 1931.
Furthermore, the 1930 report
also shows a similar large gain
in ore reserves in the state
that ore reserves at the end oi
1929 were 419,036 tons, from
which 256,836 tons were
mined, leaving ostensibly a re
mainder of 162,200 tons of the
original amount still on hand.
We find that instead of 162,
200 tons, the report shows re
serves at the end of the year
amounting to 286.535 tons, an
increase of 124,335 tons over
the amount that should have
been on hand if no new ore
was brought in during the
year.
Again in the 1929 report we
find a similar large increase
in ore during the year. Ac
cording to the report, ore on
hand at the beginning of 1929
amounted to 456,203 tons. Ore
mined during the year totaled
266,972 tons. This would leave
a balance of 189,231 tons on
hand at the close of the year.
Instead we find that the re
serves at the end of that year
are placed at 303,172 tons, an
increase of 113,941 tons. .
It thus appears that during
each of the years under consid
eration approximately half as
much new ore was brought in
each year as was mined.
Furthermore, a comparison of
the reserve figures of the last
three reports shows that the
actual diminuation in ore re
serves between the close of 19
28 and the end of 1931 was no
more than 55,168 tons, despite
the fact that 766,125 tons of
HEW COMPANY
MS WOODBINE
Hugh B. McGuire, prominent
local mining man and former
director of the Woodbine,
announced last week that the
Woodbine property has been
taken over under option by the
Missouri Ridge Gold Mines,
Limited, a new company or
ganized and backed by Eastern
capital.
Mr. McGuire indicated that
he is no longer connected with
the Woodbine Gold Mining Co.,
which, he stated, has lost its op
tion on the Woodbine, with the
result that the property revert
ed to the owners, Charles Lake
and associates, from whom the
Missouri Ridge company se
cured the present option.
Recent press reports from the
south indicate that the affairs
of the Woodbine company
have become involved to such
extent that the shareholders
have asked the Secretary of
State to appoint a competent
inspector to investigate the
company affairs and report
thereon. A resolution passed
by the shareholders indicates
that “there is reason on sub
stantial grounds to believe that
material information regard
ing the affairs or management
of the Woodbine Gold Mining
Company, Limited, has been
and is being concealed or with
held from shareholders, whose
interests entitle them to the dis
closure,” according to the Min
ing and Industrial Record.
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New Stamp Taxes Imposed
The Internal Revenue Act of
1932 imposes various new
stamp taxes, as follows:
On issues of bonds or capital
stock, 10 cents per $100 par
value. When the shares or cer
tificates are without par or
face value, and the actual val
ue is less than $100, the tax is
2 cents for each $20 of actual
value. Documentary stamps
are to be used.
Stock are taxed 4 cents per
$100 par value, or 4 cents per
share in case of no par value.
In case the selling price, if any,
is $20 or more per share, the
rate is increased to 5 cents, in
stead of 4 cents per share.
Stock transfer stamps are to be
affixed.
Bond transfers are taxed 4
cents per $100 par value and
documentary stamps are to be
affixed.
All real estate conveyances
must bear documentary stamps
in the amount of 50 cents if the
value of the property conveyed
exceeds $100 but does not ex
ceed $500, and 50 cents addit
ional on each $500 or fraction
al part.
ore were mined during the in
terval. This also can be ac
counted for only as the result
of the bringing in of large
quantities of new ore each
year.