The Hyder Weekly Herald
Established 1924
Published Saturday at the Her
ald Building in Hyder, Alaska.
Chas. F. Sandford
Owner and Publisher
Entered as second-class matter
at the postoffice at Hyder,
Alaska, under the act of March
3, 1879.
Subscription price $3.00 per
year in advance by mail or
carrier.
Advertising Rates
on application
An Independent Newspaper
Gold Uucertainty Not
Favorable to Development
Of New Properties
However much we, as resi
dents of a distinctly hardrock
mining camp, may dislike the
suggestion involved, there is
much logic behind the view
expressed by mining observers
that the present high gold
price is not likely to induce
any great amount of new mine
development.
As pointed out by these com
mentators, time is one of the
most important factors in the
development of rock mines
from the prospect or partially
developed state into active
mineral producers. Save in un
usual instances, two' or more
years of time is required
for the opening of drifts and
shafts to prove in conclusive
manner the existence of suf
ficient ore tonnage to warrant
commercial exploitation. Then
ccmes the additional time-con
suming process of blocking out
the ore for economical extrac
tion, requiring in most instan
ces as much or more under
ground work as is consumed
in proving the existence of the
ore bodies. Time rs also re
quired for the installation of
mills and other mining equip
ment and the development of
transport systems.
Few hardrock properties
have a record of less than two
years of active preliminary de
velopment before they com
menced to yield dividends and
where sulphide ores are in
volved the time is often con
siderably longer.
Weighing these consider
ations against the undeniable
fact that present high gold
prices are not primarily the
result of natural conditions but
to a major extent are of arti
ficial creation and unstable,
it appears obvious that there
may be a considerable differ
ence between current prices
and those which may prevail j
when the nations finally be-!
come sensible enoygh to agree
on an international gold price;!
as they are certain to do even-j
itually.
No doubt the value decided I
I upon will be higher than the
old fixed price of $20.62 per
ounce, but how much higher
is a question upon which finan
cial authorities differ in
marked degree and with
equally reasonable premises
for their deductions. Thus the
situation is one of uncertainty
and as long as this uncertainty
prevails regarding the future
gold price, sensible mining in
vestors can hardly be expected
to become enthusiastic over
opening new mines, and espe
cially those of lower grade
character, where a narrow
; margin usually exists between
' profit and loss.
A more logical step for mine
investors would be to devote
attention to the reopening of
the many existing mines which
;ould not be profitably opera
ted under the old gold price
but will give ample returns at
prevailing gold prices. Such
properties require no large in
vestment to place them in pro
duction and have in addition
the highly important advan
tage of offering early returns,
as they can be made' produc
tive in many instances in two
or three months, thereby ena
bling the operators to receive
almost immediate benefits
from the present inflated
gold prices.
The other logical alternative
is to turn to placer exploita
tion, as there are thousands of
acres of placer ground which
could not be worked at the
former fixed gold price but
would become highly profit
able under present conditions.
Like the low grade quartz
mines referred to in the pre
ceding paragraph, little time
is required to place them on a
productive basis, and the ini
tial expenditures required are
?mall as Compared with the
cost of developing a new hard
rock mine.
The present gold situation
will undoubtedly produce a
marked increase in placer de
velopment but until such time
as the future gold value is
definitely established and in
vestors can determine with
reasonable exactitude what re
turns on their costly hard-rock
ventures may be, conservative
and hard-headed mining invest
ors, the kind who develop
mo1! of our mines, will prob
ably not be greatly attracted
by the possibilities of new
mine development.
JUST FOR FUN
Litvinoff, Russian envoy,
found much more than a half
hour was required to arrange
for Russian recognition. But
the poor man did not know he
was up against the greatest
'“rag-chewing” nation extant.
Foreign diplomats in a hurry
to do business with us should
read a few Congressional Re
cords before coming over.
Their ideas of quick action
wi'th U. S. A. representatives
would speedily evaporate.
TEN YEARS OR SO AGO
From the Hyder, Alaska, Miner
March 14, 1924
-o
A company known as Ter
minus Mines, Limited, has been
formed with a capitalization
of $1,000,000 in $1 shares to
take over the Northern Termi
nus group on American Creek,
one time owned by Sir Donald
Mann.
Miss Helen Watt, niece of
Mr. and Mrs. George A. Fraz
ier, arrived from Winnipeg
to take a position as nurse at
the Premier hospital.
An extensive development
program for the Eldorado prop
erty on Salmon glacier will
be put into effect as early this
spring as snow conditions per
mit by F. O. Wilson, well
known mining engineer, and
associates.
Mr. and Mrs. W. R. Tooth
returned Monday, after being
away all winter on a tour that
circled the United States.
F. N. Cronholm has let a
contract to Ernest Bryson to
take in seven tons of supplies
to the Cronholm-Bartolf mines
up the Salmon glacier. The
camp is being put in shape for
summer operations.
Clay Porter, head of the
Porter-Idaho Syndicate, re
turned Friday from a visit to
the leading centers of the
west.
The newly-organized Stew
art Board of Trade met in the
Sourdough Club Tuesday night
and decided to perfect a per
manent organization without
a charter. The membership
fee was fixed at $15.
MENTAL NUTS
Can You Crack Them?
Three farmers, A, B, and C,
met on their way to town. A
had 50, B 30, and CIO bushels
of corn. They all sold their
corn at the same prices and.
strange to relate, each one re
ceived the same amount of mo
ney for his corn. Why?
A boy driving some ducks
home was asked how many he
had. He replied,
“When in line, there are two
ducks ahead of a duck, two
ducks behind a duck, and one
duck in the middle. How
many were there?
(Answers next week)
Answers to last problems
The frog in the well—
28 jumps. He goes out last
jump.
The grocer’s weights—
1/2, l¥z> 4.1/5*, 13i/> pounds.
FRANK A. METCALF
CIVIL t MINING ENGINEER
U. S. MINERAL SURVEYOR
JUNEAU ALASKA
^ -
I
J
Hyder
Methodist Episcopal
* Church
Rev. F. Bushfield, Pastor.
Hyder Methodist Episcopal Church
Sunday School at 10:30 a. m.
Evening Service at 7:30 p m
Everyone is cordially invited to
the services.
"*j:* 1 , . sc
—
PORTLAND CANAL LODGE
1218
LOYAL ORDER OF MOOSE
D. J. McLean, Dictator
P. S. Jack, Secretary
Meets Second and Fourth Thursdays
Second Thursday in Hyder
Fourth Thursday in Stewart
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