Fairbanks Daily News-Miner (Newspaper) - October 25, 1933, Fairbanks, Alaska GOLD Per Ounce Is Priced By The Reconstruction Finance Corporation Today At FARTHEST NORTH DAILY NEWSPAPER IN TH E WORLD MEMBER OF THE ASSOCIATED PRESS VOLUME XXX FAIRBANKS ALASKA OCTOBER 25 1933 PRICE TEN CENTS NEW GOLD MARKET TOPS WORLD PRICE Council Considers Waterway For Planes COMMITTEE TO ORGANIZE AT ONCE PROJECT TO COST MATELY AND LOAN MAY BE REQUESTED OF LIC WORKS Action looking toward ing a waterway for the dation of seaplanes and j ding the presence of minors under j 18 years of age in places where pool j and cards are played and beer is sold were the chief matters con- last night at the j meeting of the City Council j Tentative plans for seaplane waterway contemplate creation of an artificial body of water 5000 j feet long and 600 feet wide near Weeks Aviation Field ly the cost would be Public Works Loan For financing the project a loan from the Public Works tion is suggested Under Public Works regulations money has been lent on a TO and 30 basis that is the borrower would pay back 70 percent of the loan at a low rate of interest within 30 years the government cancelling the 30 cent On these terms for an aviation waterway would re- a payment of j ally over the period and j the borrower may exercise the j of making no payment at j all for the first five years Revenue from the waterway ried from fees from planes using it would help to meet the an- loan repayments and the course of several years the project might be entirely Might Not Need City Credit If the Public Works tion were convinced the project would be self-sustaining the loan might be made direct to it out involving the city's credit Lyman S Peck vice-president and general manager of the ic Alaska Airways was maps and estimates to ex- Continued on Page 4 GET LICENSE DENY THEY'RE WED GOLD MINERS C Established As Sole Purchaser Of Yellow Metal ALASKA TO HAVE TWO ON TIVE COUNCIL OF PRESIDENT ROOSEVELT'S NEW PLAN IS PUT TION FORMED IN NIA SAN FRANCISCO Oct miners of America is the name of an association organized day in San Francisco with George INTO EFFECT AND CHIEF EXECUTIVE IS PLEASED WITH REACTION OF PUBLIC TO HIS MONETARY PROGRAM WASHINGTON Oct 25 With an offered day in San Francisco with w starr veteran gold mine oper- price by the Reconstruction Finance Corporation of ator in Grass valley California an ounce which is 27 cents higher than the president and J c quotation in any other market in the world Lupe and Johnny LOS ANGELES Oct Velez of the films and Johnny Weismuller of swimming fame obtained a marriage license in Las Vegas recently but both denied they were married or planned adopted at the meeting to wed Roosevelt's unprecedented plan for from every gold ing the American value of the yellow metal was today The Reconstruction Finance Corporation will pay for its gold with its own debentures which Jesse A TITl T TO P Iin r A I r H 11 iF couid producing state and Territory in eluding Alaska and the Philippine Islands The purpose of the association is to further generally the inter- ests of the gold mining industry Clarification Securities Act Outstanding among the TODD NAMED IMILLER WINS MARSHAL IN 3RD DIVISION OUNCES W SILVER AS was one seeking tion of the National Securities Act to facilitate the financing of mary industries for the purpose of ascertaining whether the Act is plicable to mining companies Federal aid of financial ter was asked for the gold ADVOCATES PRICE pector and the small miner in op M CENTS amount of the PRESIDENT IS STUDYING WHITE METAL AND SENATOR i ed into cash Fiscal experts of the i government are working on a plan i whereby the debentures can be dis- counted at a rate that will bring holders the full purchase price for their gold No Limit On Amount No is put on the j ount of gold the Reconstruction Finance Corporation will buy it explained that the Finance J PIONEER ALASKAN R E SI DENT OF VALDEZ FOR 30 j WILL SUCCEED j VEY SULLIVAN SPECIMEN TO WORTH DOW DE- WASHINGTON ter J Todd of Oct today was mted states of the der to augment production of gold j relieve unemployment and thus cut down relief expenditures j Western Man Urged Another resolution was adopted asking that if and when a change is made in the directorship of the determination as United States Bureau of Mines a Western man be appointed to the at the nugget Valued weighing ounces which has been in gation in the United States Dis- WASHINGTON Oct cates of more general use of ver as money believe that dent Roosevelt having come to a to a gold policy States will now proposals metal is offered Purchases will involve only I ly mined gold The gold of the territories and dependencies as well as the states of the Union is purchasable Regulations To Issue An Executive order and tions will be issued outlining the slightly more than 51 L work effectively for extending the monetary by which producers of Third Division of Alaska with Court in Fairbanks ever since headquarters at Valdez j it was found last July was ad- Mr Todd is a pioneer Alaskan j judged last evening to be the lived in Valdez about erty of Prank Miller CLUE OBTAINED IN LINDBERGH KIDNAPING CASE Soon Claim Was Made Miller came to He has been a consistent Democrat all his life and his for the marshalship was supported by the Democratic Com- of the Third Division and the Dt Committee of the j Creek the claim was made by Territory j Peter Dow and Dennis OKeefe Mr Todd will succeed Harvey j that the specimen had been picked j town with the nugget last summer declaring he had found it on ing ground he owned on Sheep The Association criticized the ces of mining supplies and adopted a resolution calling for federal in- with a view to whether a monopoly connection with prices exists Establishment of an American acter of the white metal Studying Silver Situation There are indications that the Chief Executive io studying the ver question closely and that he scon will engage in consultations with silver advocates with the newly mined gold will transfer the gold market was hailed with view of formulating to Sullivan Republican GALE DELAYS GRAF MOORING AT AKRON Up from Archibald Creek property on which they and Mr MiHer were NEW YORK POLICE OFFICER AKRON O Oct DECLARES IMPORTANT IN- FORMATION GIVEN BY JOHN GORCH SUSPECT BOSTON Mass Oct the kidnapers of the infant son of Col and Mrs Charles A Lindbergh from the Lindbergh home near Hopewell N J March 1 last year a clue has been obtained Police Lieutenant James Finn of the New York Force said today in Boston The clue the officer declared was gained from information given by John Gorch a suspect of the Graf Zeppelin the German dirigible at Akron today was de- layed for a while by a gale ine aircraft is on her way from Constance Germany to Chicago She leave Akron for Chicago tomorrow Cal the several seasons Tony Beard sub fullback on the Southern nia team has acted as a state motor policeman at Lake hoe le has saved eight persons from drowning working a lay Sheep Creek Creeks are about 14 miles apart The trial over title to the nugget was before Judge Coke Hill without a and two days Fred Crane was attorney for Mr Miller and Louis K Pratt for Mr Dow and Mr COMMITS SUICIDE HOLLYWOOD Oct Robert Mantell Jr 21 years son of the late Robert Mantell DAUGHTER BORN TO MRS E WICKSTROM A daughter weighing eight and one-half pounds was born this ning to Mr and Mrs Kmil strom and daughter are reported to be doing fine aid the white Senator Key Pittman Democrat i of Nevada told newspapermen I that he felt something should be done promptly for silver in view of the tial declaration this week in con- with establishing a gold market with the American ment overbidding all foreign ers of the yellow metal Continue Using Such purchases of gold tor Pittman said would widen the exchange disparity of silver and would unfavorably affect the trade of the United States with the ient and parts of South America affected countries would be The London price for the dollar today was the lowest in a month representing a loss of more than 12 cents since yesterday pleased with the public reaction Continued on Page 4 and Archibald j famous Shakespearean actor shot and killed himself yesterday in Hollywood His act of is attributed to ency over failure to achieve cess on the stage 28 SAILORS LOSE LIVES IN WRECK SINGAPORE Straits Settlement Oct of the crew of Straits Steamship Company's vessel are believed to hawe been drowned Sunday when the craft sank in a violent storm Nine of the crew of thirty-seven have ar- rived in Singapore those asing silver as money as China and some of the South erican republics Senator Pittman said he hoped 90 cents an ounce would be the MEN OBTAIN JOBS IN LAST 2 MONTHS AMERICAN FEDERATION SAYS SHORTER HOURS ARE ED TO EMPLOY STILL IDLE least price that government would consider in establishing any program to WASHINGTON Oct million seven hundred thousand men from the ranks of the ployed went back to work in ust and September the American Federation of Labor announced late yesterday but it reiterated its contention that only shorter days would provide jobs for the that it asserts still re- main unemployed
