* BRITISH WORK
‘ CLEVER GAME
ON ARGENTINA
BUENOS AIRES, Aug. 3 (by Asso
ciated Press).—Although the agree
ment on the part of the British gov
ernment to pay off the $50,000,000
owed by Argentina to United States
bankers was hailed here as “an act
of friendship,” official publicity was
O not given to the understanding in
banking circles that the agreement
was only a conditional part of an in
genious financial arrangement which
enables Great Britain to pay her own
$100,000,000 debt to Argentina without
sending to this country a single cent.
Not only is this $50,000,000 to be
credited by Argentina against Great
Britain’s obligation, but the remaining
$50,000,000, after being renewed, is to
be gradually extinguished through an
Arrangement whereby Great Britain
for a certain period pays in London
the interest on the principal part of
Argentina’s external debt, hankers
liave learned.
The Argentine government, which
was unable to get a renewal of the
loan in the United States, has made
public only the fact that Great Bri
tain has agreed to take care of the
Obligation in behalf of Argentina and '
La Epoca, the government organ, has
praised the transaction as an evidence
of Great Britain’s friendship to Argen
tina and of great promise for the
future relations of the two countries.
Bankers say there is no doubt but
that the payment by Great Britain of
Argentina’s debt has greatly increased
the prestige of the British in this
country and has been correspondingly
detrimental to that of the United
States, but call attention to the fact
that the transaction is not without its
advantage to Great Britain also.
“I regret it very, much, said one
Argentine banker to the Associated
Press correspondent, “but I fear the
failure of the American bankers to re
new our loan and the fact that Great
Britain has stepped into the breach
and paid it, mean a loss of economic
good will toward the United States.
While the complete transaction is a
good business deal for Great Britain,
the fact stands out in public opinion
that the British did what the Amer
icans would not. We in financial cir
cles understand that money is badly
^eded for domestic purposes in the
United States. Nevertheless, Britain
and America are represented as wag
ing a commercial contest for trade in
Argentina. The economic effect of
the transaction in favor of British
prestige is obvious.”
As told in local banking circles, the
best terms that Finance Minister Sal
aberry could get from the American
bankers on his recent trip to the Unit
ed States was a renewal of the $50,
000,000 for five years at 7 per cent,
the bankers asking delivery of the
new bonds at 92 which would have
bq^ui equivalent to an interest of
9% per cent.
♦ Turning to the British government
through a prominent Anglo-Argentine
banker, the minister was able to get
a loan of $50,000,000 at 5 per cent to
pay off the Americans. This he was
able to do, it is pointed out, because
of conditions which enable Great Bri
tain to pay her own obligation to Ar
gentine, a $100,000,000 credit for
cereals, -on favorable terms. ,
i " 1 ~~~
COLLECTIVE
BARGAINING
SUCCESSFUL
ROCHESTER, N. Y., Aug. 2 (by
Associated Press). — Collective bar
gaining is the method adopted by the
clothing industry in Rochester to solve
its labor problems. Manufacturers
declare that it has been so successful
here that the National Industrial Fed
eration of Clothing Manufacturers ha3
been formed to deal with a national
organization of the workers. In a
time when strikes have been frequent
in other industries there has been
peace in this industry here, except in
one plant which is not a party to the
agreement between the employers and
workers.
Shoe manufacturers of Rochester
have adopted the plan and ended a
strike by an agreement similar to 'hat
in the clothing trade.
Under these agreements, the strike
and lockout are believed to have been
eliminated and the open shop prevails.
The union relinquished its claim for
a closed shop. One of the labor man
agers, representing the employers,
says that the union suffered no loss
by doing so but on the contrary the
number of clothing workers organized
has increased from 50 per cent of the
total employed to 90 or 95 per cent.
As the collective bargaining plan
operates here, the more general agree
ments between the workers and em
ployers are made by a local joint
board, composed of representatives of
the clothing manufacturers and the
workers. Working conditions are
formulated by ~a labor adjustment
board composed of representatives of
both sides. Its decisions become the
laws of the industry. Appeals can be
taken to a court presided over by an
impartial judge Avhose decisions are
accepted by both sides as final.
In the shops labor managers repre
sent the employer and shop chairman
the unions. The manufactuers have
their price commodities and time
study men and the unions retain their
local business agents.
The plan had its conception as the
result of a threat of the workers to
go on strike. In its adoption the manu
facturers obtained the advice of Dr.
Meyer Jacobstein of the University of
Rochester, who has been teaching
methods of service management;.
Preparation for commercial exploi
tation of birch timber in Alaska for
export purposes are being made by at
least two Alaska companies, who have
located good stands of timber and
will enter the business on a substan
tial scale in the near future.
Ask for quality bread, the City
Bakery’s famous Cream Loaf
In a naturalization hearing before
Judge Jennings of the First division
recently five persons were admitted
to citizenship.
Cordova Jazz Orchestra Dance at
EAGLE HALL
Wednesday and Saturday Nights
Music by the RAGTIME TRIO
Your eyes fitted. Compound and
stigmatic lenses replaced. See Os
borne.
After the show drop into the Alaskan
Grill and enjoy a prime cup of coffee
and French puff pastry. 20-tf
TRAPPERS TRADERS |
SHIP TO
{ ORGER.G0 (AW Inc.
DEALER IN
RAW FURS
NEW YORK—127 W. 27th St.
SEATTLE—ALASKA BUILDING
NOTICE—A Word To You
At our Seattle office we have opened a buying department for the
benefit of the Alaska trade.
We solicit the accounts of individuals, firms and corporations de
siring closer connection for buying and selling. The service rendered
is direct; we, at every step, exercise close supervision over all transac
tions, thus assuring accurate and prompt attention.
We are READY, WILLING AND ABLE to buy right, to ship right,
to insure right—to attend to all matters as your personal agent. Your
enquiries and wants will receive our immediate and most courteous
attention.
WRITE US—there is no obligation. We are just the business con
nection that the Alaska Trade has been looking for in the buying of
mining, cannery and fishing supplies, drygoods, groceries, cigars and
tobacco, drugs, rubber goods, furniture, household sundries, electrical
goods, gas engines—in fact, anything that grows or is manufactured.
We are also willing and anxious to develop a market for all Alas
kan products. Get in touch with us, giving full particulars, and your
goods will be sold right.
* ^ . 1
w
f'
—-—--- !
BARGAINS BARGAINS
HELLO EVERYBODY
I am sellnig Men’s Working Clothes
at cost this week only.
Come in and see us at the
WEE SHOP
ARCHIE WEATHERBY & CO.
PROFESSIONAL |
DR. W. W. COUNCIL
PHYSICIAN and SURGEON
Office and Residence, Cordova
General Hospital ^.Ostrander
Building).
Phones—Residence, 115; Office, 182
DR. W. H. CHASE
Physician and Surgeon
Lathrop Building
Phone 9
Established Cordova 1908
< ►---♦
DR. CHARLES DAGGETT
DENTAL OFFICES
LATHROP BLDG. PHONE 200
CORDOVA, ALASKA
* lR. CORA DAGGETT
SPECIALIST
DENTAL PROPHYLAXIS
PYORRHEA X-RAY
OFFICES WITH
DR. CHARLES DAGGETT
♦—--♦
DR. VON ZESCH
Dentist
ADAMS BUILDING
♦--♦
D0N0H0E & DIMOND
ATTORNEYS-AT-LAW
Offices:
CORDOVA and VALDEZ
FRANK H. FOSTER
ATTORNEY-AT-LAW
ROOM 1. OSTRANDER BUILDING
j
f--♦
l F. MEDLEY
ATTORNEY AND COUNSELLOR
AT LAW
Room 1, Adams Block
CORDOVA, ALASKA
♦--♦
R. H. L NOAKS
ATTORNEY-AT-LAW
SECOND ST., OPP. HOSPITAL
♦---—♦
D. C. FAIRMAN
TEACHER OF PIANO
*----♦
WILLIAM A. HESSE
U. S. MINERAL SURVEYOR
Bedford-McNeill Code
Cordova, Alaska
FRANK A. METCALF
CIVIL AND MINING ENGINEER
U. S. MINERAL SURVEYOR
Juneau, Alaska
*-f
OIL BONDS
SURETY AND FIDELITY BONDS
LIFE INSURANCE
ACCIDENT INSURANCE
THOS. S. SCOTT
» - - ■
The Daily Times Job Plant is well
3quipped for all classes of commercial
printing.
CORDOVA MACHINE
WORKS
E. R. GARNES, Prop.
Residence Phone 101-3
Shop Phone 182
Machine Work of all Kinds,
Blacksmithing, General Repair
ing, Horse Shoeing, Oxy-Acety
lene Welding and Cutting.
AUTOMOBILES
REPAIRED
Office and Shop: City Dock
CORDOVA, Alaska.
Out of Town Jobs Given Strict
Attention.
_...—
JUST RECEIVED
?—-■■——■
A LARGE 8HIPMENT OF
LIVE CHICKENS
FINE FRIERS
JOE FREY
Phone 22
NORTHWESTERN CLEAN
ING AND DYEING HOUSE
TAILORING
All kinds of Repair Work. Fancy
Garments a Specialty. All Work
Guaranteed. Goods called for and
delivered
L. LEEN
Next to Hegg's, on C St.
Telephone 190
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WALL PAPER
In Latest Patterns
' GLASS
in All Sizes
I. D. BOGART
NOTICE TO SUBSCRIBERS
If you change your address, do not
notify the carrier boy—report your
new address to the office.
- i.
I GORDOVA I
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GATEWAY TO BERING RIVER
COAL AND OIL FIELDS
TERMINAL OF ’]
COPPER RIVER RAILWAY
OUTFITTING POINT FOR
| INTERIOR GOLD AND COPPER MINES
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