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Fairbanks Daily News Miner: Wednesday, October 25, 1933 - Page 1

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   Fairbanks Daily News Miner (Newspaper) - October 25, 1933, Fairbanks, Alaska                                GOLD Per Ounce Is Priced By The Reconstruction Finance Corporation Today At 3fatrkttks iatlij mms-mimr FARTHEST NORTH DAILY NEWSPAPER IN TH E WORLD MEMBER OF THE ASSOCIATED PRESS VOLUME XXX. FAIRBANKS, ALASKA, WESDESDAY, 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 APPROXI MATELY AND LOAN MAY BE REQUESTED OF PUB- LIC WORKS Action 'looking toward establish- ing a waterway for the accommo- dation of seaplanes and forbid- 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- sidered last night at the regiUar 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. Approximate- ly, the cost would be Public Works Loan For financing the project a loan from the Public Works Administra- 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-. quore a payment of arum- j ally over the 30-year period, and j the borrower may exercise the pri- j vilege of making no payment at j all for the first five years. Revenue from the waterway, de-j ried from fees from planes using it, would help to meet the an- nual loan repayments, 'and in! the course of several years, the project might be entirely self-sus- taining. Might Not Need City Credit If the Public Works Administra- tion were convinced the project would be self-sustaining, the loan might be made direct to it, with- out involving the city's credit. Lyman S. Peck, vice-president and general manager of the Pacif- ic Alaska Airways, was present-' maps and estimates to ex- (Continued on Page 4.) GET LICENSE, DENY THEY'RE WED GOLD MINERS F< C. Established As Sole Purchaser Of Yellow Metal ALASKA TO HAVE TWO REP- RESENTATIVES ON EXECU- TIVE COUNCIL OF AssociA- PRESIDENT ROOSEVELT'S NEW PLAN IS PUT TION FORMED IN CALIFOR- NIA SAN FRANCISCO, Oct. miners of America is the name of an association organized yester- 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 oeorge j_. 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. Kempvansee, quotation in any other market in the world, Presi- Lupe VeJez and Johnny WeismnUer LOS ANGELES. Oct. Velez of the films and Johnny Weismuller of swimming fame obtained a marriage license in Las Vegas, -lev., recently, but both denied they were married or planned nons adopted at the meeting yes- to wed Roosevelt's unprecedented plan for controll- represenwtives from every gold ing the American value of the yellow metal was put- -nto Operatjon today. The Reconstruction Finance Corporation will pay for its gold pur-chases with its own 90-day debentures, which Jesse A TITl T TO P cnair- Iin r A I r H 11 iF 'man'said couid -De 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 resolu- TODD NAMED IMILLER WINS MARSHAL IN INUGGETOF 3RD DIVISION -la OUNCES W SILVER AS MONEYURGED terday was one seeking clarifica- tion of the National Securities Act to facilitate the financing of pri- mary industries, for the purpose of ascertaining whether the Act is ap- plicable to mining companies. Federal aid of financial charac- ter was asked for "the gold pros-] ADVOCATES PRICE' pector and the small miner in or- op M CENTS whateTCr 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 ani- 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 HAK- j VEY SULLIVAN SPECIMEN TO WORTH DOW DE- WASHINGTON, ter J. Todd of Oct. today was mted states marshaj 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 liti- gation in the United States Dis- WASHINGTON', Oct. cates of more general use of sil- ver as money believe that Presi- dent Roosevelt, having come to a to a gold policy States, will now proposals metal is offered. Purchases will involve only new- 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 regula- tions will be issued outlining the slightly more than 51 L. ,.__ .-_ work effectively. for extending the monetary char- pnxadure by which producers of Third Division of Alaska with {trict 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 prop- lived in Valdez about 30! erty of Prank Miller. CLUE OBTAINED IN LINDBERGH KIDNAPING CASE Soon Claim Was Made aftervMr. Miller came to He has been a consistent Democrat all his life, and his can- didacy for the marshalship was supported by the Democratic Com- mittee of the Third Division and the Dt mocratic 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 n-n fvmr, ArnVllJlftld fSPeEfc UlOOerLy town with the nugget last summer declaring he had found it on min- ing. ground he owned on Sheep The Association criticized the pri- ces of mining supplies and adopted a resolution calling for federal in- vestigation with a view to ascer- taining 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 sil- 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 grati- fication. view of formulating a'program 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 60-mile gale, 'ine aircraft is on her way from liake Constance. Germany to Chicago, HI- She will..- leave Akron for' Chicago tomorrow. TRIiCKEE, Cal., the several seasons Tony Beard, sub fullback on the Southern Califor- nia ff-otball team, has acted as a state motor policeman at Lake Ta- 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 E: Coke Hill without a and occupleft two days. Fred Crane was attorney for Mr. Miller and Louis K. Pratt for Mr. Dow and Mr. Q'Keefe. COMMITS SUICIDE HOLLYWOOD, -CW, 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 mor- ning to Mr. and Mrs. Kmil Wick- strom. Mpther and daughter are reported to be doing fine. aid the white metal- Senator Key Pittman, Democrat i of Nevada, told newspapermen to- I that he felt something should be done promptly for silver, par- ticularly in view of the Presiden- tial declaration this week in con- nection with, establishing a gold market with the American govern- ment overbidding all foreign buy- ers of the yellow metal. Continue Using Sflver Such purchases of gold, Sena- tor Pittman said, would widen the exchange disparity of silver and would unfavorably affect the trade of the United States with the Or- ient and parts of South America. The- affected countries would be poration. 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 self-des- truction is attributed to despond- ency over failure to achieve suc- cess on the stage. 28 SAILORS LOSE LIVES IN WRECK SINGAPORE, Straits Settlement, Oct. of the crew of Straits Steamship Company's vessel Tronoh 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 Am- 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 NEED- ED TO EMPLOY STILL IDLE least price that government; would consider in establishing any program to aid-silver. WASHINGTON, Oct. million, seven hundred thousand men from the ranks of the unem- ployed went back to work in Aug- ust and September, the American Federation of Labor announced late yesterday, but it reiterated its contention that only shorter work- days would provide jobs for the that it asserts still re- main unemployed.   

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