Alaska Mining ■
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(fuly TDM Bulletin) » »
By TertltbAal Dept, of Mines
: A OIL NEWS v.
Htnftble' Oil' and Shell Oil- are
still ' "having trouble with their
Bear Creek Unit Well No. 1 on
the Aldska Peninsula near Wide
Bay. After unsuccessful fish
ing for lost tools below 10,000
feet for quite some time, they
are now trying to bypass those
tools. To date, this has also not
been successful.
Standard of California and
Richfield are now fishing at
13,705 feet in their Deep Creek
Unit Well No. 1 on the Kenai
Peninsula. This is the deepest
well drilled in Alaska so far.
Anchorage Gas and Oil Develop
ment Co. is not drilling while
waiting for pipe to arrive at their
well at Houston.
Oil exploration field work is
moving along at a fair clip. It
is reported that there are now 17
companies that have parties in
the field and are using a total
of at least 51 helicopters. Hum
ble and Richfield each have par
ties working out of Eagle. Quite
a few parties are active in the
lower Kuskokwim country, sev
eral are on the Alaska Peninsula,
and others are widely scattered
in the possible oil provinces of
Alaska.
ASSESSMENT WORK BILL
The “Church-Bible” bill hks
passed the Senate and is being
considered by the House Interior
Committee. If it becomes law,
which is not likely at this late
date, it will change the assess
ment work deadline'from July 1
to September 1.
GOLD NEWS
It appears that the gold mine
operators who were shut down
by War Production Board Order
L.-208 in 1942 have lost their
last chance to obtain damages
from the Government. An ear
lier decision by the U. S. Court
of Claims was in favor of the
mines and stated they were en
titled to damages. The Supreme
Court has now overruled that de
cision and says that the Govern
ment is not liable. -This is quite
a blow to a lot of gold miners
who have hoped for many years
for proper retribution from the
Government for their losses
caused by being closed down.
The Senate Finance Committee
has approved legislation which
s
would, if passed, increase the tax
depletion allowance of gold' min
ing- operations from' 15 to 23%.
^his would put - gold on a par
with other metals such as lead
and zinc, and might h'elp the few
remaining gold operators stay in
business a little longer.
The question 'of whether the
price of gold might be raised is
Decoming topic A in the world’s
financial capitals, and gold it
self is becoming more of a weapon
in the East-West trade war. The
economic possibilities have cre
ated a speculative interest that
has pushed many gold shares to
new highs in New York, Toronto,
and London. Two things that
have caused these trends are the
recession and the recent extra
large drains of gold from Fort
Knox to foreign countries. Gold
mining always becomes more at
tractive in recessions (though
this one has not been accompanied
by dropping prices) and the U.S.
stocks of gold have been depleted
by foreign purchases to the tune
of $1.2 billion in the last four
months. A potential effect of
this drain is on the stability of
the U. S. dollar.
The switch from inflow of gold
to outflow coincided with our re
cession and exports are down
25%, causing a shift in the baL
ance of trade. Some experts think
this is a calculated program to
force the U.$. to raise the price.
At any rate, there are terrific
pressures for it from all sides,
particularly London, South Af
rica, and Canada, who argue that
it will help world trade. It is
pointed out that their is not
enough gold in the world now
since the free-world money sup
ply has increased fourfold since
1938 while gold stocks have in
creased only 40%. The U.S. is
against a price boost since the
main gainers would be large gold
holders such as herself, France.
West Germany and Switzerland,
and the losers would be the un
derdeveloped nations of the Mid
dle East and Asia. And of course,
the biggest gainer of all would
be Russia with her $8 billion in
gold on hand and estimated pro
duction of $600 million annually.
Considering this and also the
fact that inflation seems to be
continuing, the ..U.S. will prob
ably resist all pressures for a
price boost for some time yet.
It is never too late to start
driving carefully—as long as you
are able to drive, anyway.
Education seems to be an end
less affair.
☆ VACATION NEEDS ☆
^ Tents, Campstoves, Cots
Picnic Baskets, Thermos Jugs
^ Sleeping Bags, Primus Stoves
THE FAMILY STORE
Make
With Connecting VjlT
Airline
Spiritual Truths
Gleaned From
The News
Contributed By
Nome Gospel Home
«
From LeTourneau Tech's Now
A Chapel In A Skyscraper
According to the Wall St. Jour
nal, a new 42-story skyscraper
rising in Dallas, Texas, will have
on the 39th floor a chapel “for
anyone seeking a moment of
peace on a busy day.”
We are glad to read such a
news item; for the problems and
pressures of life are such as to
make many persons desire “a
moment of peace on a busy day.”
People working in offices of
a skyscraper need such a chapel
to which they can resort in times
of stress and strain. We feel
confident it will be well patron
ized.
We wish to say, however, that
although entering the chapel will
give one a moment of quiet;
it will not necessarily give one
a moment of peace.
The promise about the peace
of God w’hich passes all under
standing, guarding the heart and
thoughts, is only given to believ
ers who cease worrying and who
“in prayer and supplication with
thanksgiving” make their requests
known unto God, who is “able
to do exceeding abundantly above
all we ask or think.” (See Phil
lippians 4:6-7 and Ephesians 3:20).
A person entering the chapel
with his sins upon him, must
look by faith to Him who “made
peace by the blood of His cross,”
before he can enjoy peace. For
the Word says: “Therefore be
ing justified by faith, we have
peace with God through our Lord
Jesus Christ” (Romans 5:1).
It is true as the prophet Isaiah
said to the Lord: “Thou wilt
keep him in perfect peace, whose
mind is stayqd on Thee: be
cause he trusteth in Thee.”
SUBSCRIBE TO THE NUGGET
Friday, July 11, 1958
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PLOTTERS
AVIATION
TEXTBOOK^
COMPUTERS
PILOT LOGS
1PLMIW AYS
CAA APPROVED SCHOOL
No. 5-02-1
1st Hangar Box 504
PHILLIPS FIELD
Fairba. ks
PHONE 6000
THE NOME NUGGET 7
I INVITATION FOR BIDS
(•Construction contract)
SEALED BIDS, in duplicate copy sub
ject to tlje conditions contained herein
I will be received until July 22, 1958 then
| publicly opened, for furnishing all labor
and materials and performing all work
for construction of an Airport Landing
Strip located near Allakaket, Alaska.
Plans, Specifications and Project Doc
uments may be obtained from the Di
rector of Aeronautics, Alaska Aeronaut
ics and Communications Commission,
Room 202. Glover Building, Anchorage,
Alaska, upon deposit of $25.00.
Bids will be publicly opened in the
office of the Director of Aeronautics,
Room 202, Glover Building, Anchorage,
Alaska at 2:00 p.m., A.S.T., on July
22, 1958.
Where copies of plans are requested,
a deposit of $25.00 will be required
to insure their return.
Guarantee will be required with each
bid as follows: Ten Percent (10 pet.).
(See Paragraph 7 of Instructions to
bidder.)
Performance bond will be required for
an amount not less than 50 pet. of the
contract.
Payment bond will be required for
an amount not less than 50 pet. of the
contract.
Liquidated damages for delay will be
as stipulated in the General Contract
Provisions for Airport Construction
Specifications.
Partial payments will be made
monthly.
Minimum wage rates applicable to
the contract shall be as listed in the
Special Contract Provisions.
Bids must be submitted upon Pro
posal Form and the successful bidder
will be required to execute the Standard
Form of Contract for Construction.
The right is reserved, as the interest
of the Territory of Alaska may re
quire, to reject any and all bids, to
waive any informality in bids received,
and to accept or reject any items of
any bid, unless such bid is qualified
by specific limitation.
Envelopes containing' bids must be
sealed, marked and addressed as
follows:
Bid for Allakaket
Project No. 9-50-069-01
To be opened ;at 2:00 p.m., A.S.T.
Date—July 22, 1958
Bidder .
Address ...
Eugene G. Roguszka
Director of Aeronautics
Publish July 4-9-11-14-16-18, 1958
INTERNATIONAL
PARTS
PICKUPS 3fe TRUCKS
BEN YOUNG
Guaranteed Lang and Olympic
Dependable Ranges
Fuel Service Heaters
LP Gas STOVE PARTS
and Appliance* AND REPAIRS
Main 152 Quaker oil
GREEN’S
CITY FUFL & TRANSFER
Nome Plumbing & Heating
ARMIN E. BOHRER VERN A. MILLER '
for
• Plumbing Fittings and Fixtures
# Heating Systems Warm air. Steam, Hoi water
• Sheet Metal Work — Welding
# Burner Service, Parts, Repairs
Shop Open 8 a.m. to 5 p.m.
LOMEN COMMERCIAL COMPANY
NOME. ALASKA
WHEN IN THE MARKET FOR EQUIPMENT AND TOOLS
IT WILL PAY YOU TO INVESTIGATE THE MANY LINES WE REPRESENT
Allis-Chalmers Mfg. Co. Tractors, Pumps
Belt Drives, Electrical Equipment
Baker Manufacturing Co.Dozers and Plows
DeLaval Steam Turbine Co. Pumps
Detroit Diesel Engine Die. Diesel Engines
Gar Wood Industries . ’Dozers
Gates Rubber Company . Belts
Hobart Manufacturing Company . Welders
Hydraulic Supply Mfg. Company .. Pipe
Jaeger Pumps, Compressors, Concrete Mixers j
A. Leschen & Sons Rope Co. Wire Rope
Lincoln Engineering Co. Greasing Equipment
Mallory ........... Blocks
Onan . Light Plants
Owalonna Tool Co. Hand Tools
Power Machinery Co. £ower Saws
S K F Industries .. Bearings
Smith Welding Equip. Corp. Welding Tools
Thew - Lorain Shovel Co.Cranes & Shovels
Thor.Pneumatic Tools, Electric Saws
Timken Roller Bearing Co. . Bearings
Willard Batteries . Batteries
Wisconsin Motors . Motors
ALSO DEALERS IN LUMBER, STANDARD OIL PRODUCTS.
LIGHTERAGE AND COASTWISE WATER TRANSPORTATION
• *