CORDOVA
The seaport through which all the copper and gold
ore deposit^ of interior Alaska must pass to reach the
markets of the world.
The largest salmon canning center in Southwestern
Alaska, with five salmon canneries in operation.
The natural outlet for the coal of the Bering river
coal fields; where the copper ore of the interior and of
Prince William Sound points will be reduced when the
coal is made available.
The nearest practicable harbor to the oil fields of
Katalla.
The seat of the only clam canning industry in
Alaska.
Cordova has no indebtedness, and the lowest tax rate
of any city in the territory.
CORDOVA
Has the best harbor north of Puget Sound; ideally
created topographically for a naval station.
Has more natural beauty in its location and sur
roundings than any other city in Alaska.
Has doubled its population the past year through an
influx of permanent residents, brought here by the estab
lishment of new industries.
Has a modern, broad-gague railroad tapping the rich
copper deposits of the Kotsina-Chitina copper belt.
Has the largest dock in Alaska, taxed to its capacity
to handle the millions of pounds of copper and thousands
of cases of canned fish being shipped from here monthly.
Has seven passenger and six freight steamships
making regular trips between it and Puget Sound points,
besides numerous tramp vessels.
Has the best lighted streets in Alaska, lined with
modern business blocks.
Has two navy wireless stations, one of which is equal
in power to any in the United States, and cable connection
with Seattle.
Has every line of business and profession well repre
sented.
Has a $10,000 school building, where high school
grades are taught; four churches, four modern hotels,
good restaurants, telephone, electric lights, waterworks
\
and sewers.
Has splendid facilities for the sportsman; wild fowl
and game fish are abundant, while a short trip on the
railroad brings the hunter within easy reach of bear,
mountain goat and sheep, moose and caribou.
Has for the sightseer and tourist the greatest natu
ral wonders in the world, the Childs and Miles glaciers.
Cordova today is on a more permanent basis than
any other city iu Alaska; is assured of continued prosper
ity and a steady growth, due to the progressive develop
ment which its natural resources are now undergoing.
When the coal of the Bering river fields, now but 25
miles from the present railroad, becomes available, smelt
l |
ers will be erected here, and Cordova will become the
Butte of the North.
For more particular information regarding the in
dustries and resources of Cordova and vicinity, the oppor
tunity for investment and employment here, and descrip
tive literature, write | ±
Cordova Chamber of Commerce
Cordova, Alaska
I
WASHINGTON. Aug. 16. — After
many years of investigation and de
bate to develop the best method of
providing financial aid for the far
mer at normal interest rates and on
long time, congress has passed a Farm
Loan Act. President Wilson has
named members of the board which
will administer its provisions, and the
work of organizing the vast new sys
tem la about to begin.
Secretary McAdoo, ex-official mem
ber of the farm land board, which
will be at the head of the system, pre
dicts that it cannot be in operation
for at least six months and probably
loans cannot be be made before next
spring.
In operation the system to some ex
tendent will do for the farmer what
the federal reserve system does for
the business man. The farmer will
be given opportunity to secure money
on his most available commodity, his
land, just as the merchant and the
manufacturer has been enabled
through the federal reserve system to
have his paper, based on commercial
transactions, find a ready market.
The new scheme has many points
of resemblance to the federal reserve
system, but in many essential features
it is entirely different. In no way
will the banks created under It do
commercial banking, and while it is
possible that years to come they may
have funds to loan that will amount
of several hundred millon dollars, It
Is believed probable that the system
ever will have the resources of the
The act provided for a division of
continental United StateR into twelve
land hank districts, with a federal
land bank in each. The work of de
signating these districts and select
ing the centers at which the loan
banks are to be located will be the
first duty of the farm loan board, and
Is expected to result in just as many
bitter contests as preceded the an
nouncement of the lines of the twelve
federal reserve districts and the lo
cation of the federal reserve banks.
The only directory provision in the
farm loan act says that laud banks
shall be located with particular refer
ence to the farm loan needs of the
country, so the board tyill have wide
discretion. Many applications from
cities, particularly in the northwest
and southwest, already have been
filed in the treasury, but the board
will not make public its conclusions
until it has travelled over the coun
try and held hearings in many slates.
Each federal land bank must have
a minimum subscribed capital of $750,
000 before it can start business. If
within thirty days after books are
opened for subscriptions to the stock
of any of these banks individuals or
corporations have not subscribed that
amount the secretary of the treasury
is directed to subscribe for the United
States in the needed sums. Stock in
the banks may pay dividends when
earned, but the United States as a
stockholder cannot participate with
others.
The banks will not, except in spec
ial cases, loan direct to farmers, but
through the agency of National Earm
Loan Associations, which may be or
gamzeu, IU any IIUIIIIICI ill a muu u»m\
district by any ten owners or prospec
tive owners of farm land who desire
to secure loans on farm property. Ap
plications for charter for these as
sociations must go to the farm land
board and may be refused by It. No
association will be chartered unless it
is shown that the signing members
desire loans totaling at least $20,000.
In applying for membership in an
association, a farmer must take five
per cent of the face value of the de
sired loan in stock of the association.
Applications for loans are to be
passed upon by a loan committee of
the Farm Loan Association. Loans
will be made only on first mortgages
or farm property, and the value of
the land will be the main consider
ation. The land will be subject to
inspection by an appraiser of the
farm land board. Loans will be made
only for purchase of land, for its im
provement, or for purchase of live
‘stock, equipment, fertilizers, or to
provide buildings on a farm or to
liquidate Indebtedness, existing when
the first association is formed in the
county where land is located. No
loan will be made of more than $10,000
nor less than $100. Interest will not
be charged/ greater than six per cent.
The loan itself will be reduced
through an amortization plan, provid
ing for reduction by annual or semi
annual payments on the principal. No
mortgage shall run for more than 40
years nor less than five, and there
are the necessary provisions in the
law for satisfaction or overdue inter
est or amortization payments.
-J*
The money to be loaned will come
through the federal land banka, passed
to the hands of the National Farm
I^oan Associations and to the farmer.
The capital stock of the land banks
will not give them much loaning pow
er, so congress Increased that i>ower
greatly by authorizing the banks to
Issue farm loan bonds and vdl them
In the open market. The act provides
that when a federal land bank has
loaned $50,000 to farmers It may Is
sue a corresponding amount of farm
loan bonds, and that the total may be
issued by any one bank on a minimum
capital of $750,000, is to be twenty
times that capital. This would give
each bank $15,000,000, and the whole
system $180,000,000 to loan on first
mortgages.
Farm loan bonds are to be made at
tractive by payment of not more than
five per cent interest, and a provis
ion that they shall be exempt from
federal, state or municipal taxation.
They are made legal investments for
trust funds. They are not to be obli
gations of the United States, but will
have behind them the first mortgages
on farm lands. These mortgages also
are exempt from taxation.
In case local conditions do not favor
organization of farm loan associations
land banks may be authorized by the
farm land board to make loans to
farmers through agents It approves,
such as banks, trust or mortgage com
panies, and the law permits establish
ment of Joint stock land banks to lend
directly to borrowers on first mort
gages of farm lands. These banks will
board, hut will not be assisted by fed
eral bank funds as will loan associa
tions. The stock banks, however,
which are to be capitalized at not less
than $250,000 each, also may issue
farm loan bonds, exempt from taxa
tion and based on first mortgage se
curities, to the extent of fiteen times
their capital stock. These banka are
subject to the same provision of the
law as loan associations, in respect to
interest rates, amorization, etc.
In the beginning the federal land
hanks will be governed by directors
appointed by the farm land board, but
after subscriptions from loan associa
tions to any federal land bank's capi
tal stock reach $100,000, an elective
system will become effective, with
three directors chosen by the board
and six by the loan associations. The
board will approve compensation paid
directors and officers of these banks.
The loan associations will be directed
by unpaid officers except a secretary
and treasurer, or secretary-treasurer.
Banks and loan associations will be
subject to the customary examination
by persons appointed by the farm land
board, and the law provides penalties
for infringements of its provisions or
counterfeiting of farm loan bonds.
I
1 One Visit
Will
Make You
A
Regular Patron
At
Slater’s
Restaurant
Private Boxes
For
Large or Small
Parties
FOR SALE
COPPER PROPERTY
EXCELLENT SHOWING.
Near Beatson Mine, Latouche.
Close to tidewater. An excellent
opportunity for man with little money
to make large profit. Price °nd terms
I
reasonable. Apply
PETER CANAVARA,
Latouche, Alaska.
♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦A*
The i
4
Northern j
*-1-s-i j
4
For the Best Brands of 4
WINES, j
LIQUORS
AND
CIGARS
t
Call at the
POPULAR CORNER
First Avenue and C Street «
The
MINT
Thoa. Davis, Prop.
STRAIGHT WHI8KEYS
IMPORTED WINES
KEY WE8T CIGARS
BONDED GOODS
NOTHING BUT THE BEST
-_m
AT THE
MOUNTAIN INN
Good hunting and fishing. Also fish
and game for sale in season. Boats
for rent, good meals and beds. Rates
E. A. HEGG
PHOTOGRAPHER
(i _„
PHOTO SUPPLIES
Views and Post Cards
STATIONERY
PICTURES and FRAMES
I First Bank Cordova (
? CAPITAL STOCK *25,000 f ? !|_
- \i_ ' |
4% On Time Deposits
| „ - f" ]
j
We Sell Travellers’ Checks
Gold Dust Bought at Highest Market Prices
- > !
DESPOSITORY FOR TERRITORIAL FUNDS.*
| S(WWWSS^WS«S!»SS^
'"-aTffrfc - The Leading Hotel of Alaska
®* WINDSOR
I ^HOTEL!
: "*c jVf CORDOVA, ALASKA
IIM M • t ♦♦♦♦»♦ »»♦♦♦♦ + »♦♦♦ »♦♦♦+♦
1 Alaskan Hotel 1
THE HOU8E OF COMFORT
;X X*
THE BEST EQUIPPED HOTEL
INALASKA %
g _
*: S::
Hot and Cold Water, Electric Bells, Electric
Lights, Steam Heat, Suites With Bath.
Bar in Connection |!
ROBERT GOTTSCHALK Proprlteor* ART CLONINGER %
I I
cordova, .... alaska %
I &
— ■'» 11 ..— 1 1 — —11
Sixty Steam Heated Rooms Eletric Lighted
Hot and Cold Water in Every Room
With or Without Bath.
Cordova House
H. C. ROSS, Proprietor.
Headquarters for Railroad and Mining Men
Satisfaction Guranteed
Rates Reasonable
The Lang Stove, horn in Alaska.
Is the Stove for Alaskans.
Body made of Armco Rust-Resist
ing Iron.
Polished Cooking Surface.
Will hold fire overnight with wood
or coal.
Will burn green wood.
Ask your dealer for a Lang Stove.
If he cannot supply you write us.
Our line is complete from the
smallest camp stove to the larg
est hotel range.
Any sourdough will tell you about tha
Lang Stove, They all know It.
F. S. LANG MFG. CO.
SEATTLE, WN.
WHEN YOU HAVE A
PRESCRIPTION FILLED.
here you can rest assured that the In
gredients and compounding are Just
as they should be. Physicians and
nurses know that we fill prescrip
tions with absolute accuracy. They
know that we use the best drugs only
and that we use a checking system
that makes mistakes impossible.
Northern Drug Co.
MAIL ORDERS GIVEN PROMPT ATTENTION.
1 Foos Gas Engines j
4 to 5C0 Horse Power
General Electric Motors
| Roebling Tramways
Pelton Water Wheels
Chicago Oil Engines and Compressors
Regal Boat Engines
g: :g
1 Harmon MachineryCo Inc |
Oxy-Acetylene Welding.
CORDOVA, ALASKA
! j NORTHERN MEAT MARKET f
;. ...- -
WHOLESALE AND RETAIL DEALERS IN
1* Fresh Beef, Pork, Yeal, Mutton |
and Provisions
- : I
Particular Attention and Prompt 8ervlca Given to order* from ».
mining camps, roadhouses and
' INTERIOR POINTS
SMITH & GLASBRF.XNFIi Pn.