Phillips Co. Success In Finding Oil
In Southeast Alaska Would Help
Nation’s Defense, Alaska Economy
By KEITH K. KING
TULSA, Okla., UP>—The Alaska
exploration venture for which the
Department of the Interior has
given Phillips Petroleum Co. the
green light represents the first
major privately-financed effort to
find oil in the territory.
Success on a big scale would be
not only of great strategic impor
tance td an area grown vital to
the nation’s defense; it would hold
high promise for economic devel
opment of the vast area’s riches.
The attempt will have behind it
the resources of Phillips, which
steadily has been increasing its
oil and gas reserves, and the drill
ing know-how of the Kerr-McGee
industries, Inc., another Oklahoma
concern.
Phillips, with headquarters at
Bartlesville, and Kerr-McGee, of
Oklahoma City, long have had a
working relationship in oil devel
opment. The drilling firm is a
specialist at tough jobs, one of
which was its pioneering in deep
water off the Louisiana coast,
where it developed techniques for
whipping high tides and hurri
canes.
The combination will hunt Al
askan oil in the Katalla-Yakataga
region of the territory’s southeast
coast, where the Japanese current
turns the area’s glaciers into ice
bergs. The million acres on which
Phillips has been given operating
rights extends about 120 miles
^long the shore of the Gulf of
Alaska, with the western boun
dary some 50 miles east of the
ice-free port of Cordova.
Into this relatively mild climate
country, part of a domain inhab
ited by Yakutat Indians, Phillips
has announced it will send geo
logical field parties as soon us
weather permits. Kerr-McGee en
gineers recently returned from a
trip to look over the terrain.
Not all oil men feel the area’s
geology is the most promising for
a big strike, but there are definite
evidences of petroleum deposits,
largely in seepage areas, plus a
history of limited production.
Less than a year ago in a report
>.
from the authoritative Oil and Gas
Journal, William T. Foran wrote
that the Katalla-Yakataga area is
“unquestionably suited to the ac
cumulation of oil in commercial
volume.”
Foran, formerly a geologist in
foreign fields for several large
companies, during World War II
served as geological director for
the Navy’s petroleum reserve in
Alaska’s polar coast.
“Considering all probable areas
of Alaska, the Katalla-Yakataga
area shows unusual possibilities,”
! he wrote.
The oil industry measures the
cost of production against that of
transportation, running pipe lines
only to big sources of crude oil,
and building refineries as closely
as possible to centers of heavy
demand for oil products. Volume
production would have to be as
sured before investment was made
in a transportation medium such
as pipe lines.
Some industry observers set
10,000 barrels daily as the mini
mum needed in Alaska to justify
even a small refinery there. Any
less than that, they say, probably
would be moved to west coast
Canadian and U.S. refineries by
tanker, the same way Alaska must
get most of its processed petrol
eum fuels.
British Belles Wear Bikinis
To Hit French Competitors
READING, England, UP)—Read
ing University students held their
annual carnival Saturday without
the glamor of three French co-eds.
Reading co-eds, who displayed
homegrown charms in Bikini
bathing suits on Prime Minister
Churchill’s doorstep Friday, sup
plied the glamor.
Originally, the men of the uni
versity invited three French girl
students from Paris to take part
to add beauty and grace to the
proceedings. The local co-eds took
this as an “outrageous” insult and
seven of them paraded to Prime
Minister Churchill’s residence in
London Friday to protest. They
emphasized their protest by wear
ing shimmering sequined tights,
Bikinis and black net stockings.
They didn’t get to see Churchill,
but a lot of people saw them, with
appreciation.
While this was taking place,
the authorities at the Sorbonne
and the parents of the three
French girls cancelled the visit of
the French delegation. Voila, vic
toire, which translated means
there you are, victory for the
British gals.
The men at Reading University
took it philosophically. They said
their own co-eds looked so' pretty
when they were angry that the
whole thing had come out for the
best.
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New Banking Code
For Alaska
In Bill by Gorsuch
By JIM HUTCHESON
JUNEAU, UPi— A new compre
hensive banking code for Alaska,
including the removal of the gov
ernor from the Territorial Bank
ing Board, was introduced in the
Senate Friday afternoon.
With 121 pages, the measure
was the longest bill of the session
and probably one of the longest
ever submitted to the territorial
legislature.
Legislators shied at the thought
i of having it read completely
through in both houses, which
would be a job of several hours.
It was introduced by Sen. John
Gorsuch (R-Anchorage) in behalf
of the present banking board. One
of the provisions calls for replac
ing the governor on the board by
the attorney general and creating
a new office of commissioner of
banking.
The governor asked in 1951 that
he be removed from most boards
but the legislature left him on the
banking board. *
The code also proposes a strict
system of examinations for the
territorially-chartered banks and
heavy penalties for any banking
offenses. A statement by the bank
ing board said the bill was based
on a model banking code from the
States.
Sen. Gorsuch also introduced a
bill to allow the creation of com
munity colleges by school districts
to operate in conjunction with the
University of Alaska as junior
college type institutions.
It provides that the board of
regents would provide 75 percent
of the salaries needed for the
community colleges, while the
school districts would provide the
other 25 percent and own the
buildings.
The provisions of the measure
would be restricted to school dis
tricts with enrollments of 250 or
more during the previous year.
The bill carries no appropriation.
V. F. W. FIGHTS
March 7 — 8:00 p.m. — School Gym
1st Bout 2nd Bout
Bruce Russell. 108 lbs. Clyde Nershak, 145 lbs.
vs. vs.
Jack Muller, 110 lbs. Louis Kost, 150 lbs. *
3rd Bout 4th Bout
Ray Cole, 150 lbs. Beard, U.S.A.F., 160 ibsi
VS. VS.
Guy Ryan, 140 lbs. ^ Billy Neilson, 155 lbs.
5th Bout 6th Bout
Lezar, 160 lbs. C. D. Sindelar, A.C.S., 185 lbs.
vs. vs.
Wilson, 170 lbs. Larry Minix, 210 lbs.
Wrestling Match
Killer Kangas of Nome
vs.
Grappler Remis of N. Y.
9
Referee — Les Bronson
Judges Timekeepers
Chubby Douglas Art Paulos
Quincy Benton Bob Rodgers
Luther Dunbar M.C.—‘Hap’ Lancaster
Fight Manager — Denton Howard
—tokitm ■<—■-■-Hrr-mrinirTTirrr1 ii i m
THE NOME LIQUOR STORE
WE CARRY A LARGE ASSORTMENT OF
FINE LIQUORS, BEER AND WINE
Out-of-Town Orders Carefully Handled
Legal Blanks at The Nome Nugget
Arctic Sanitary Service
Phone RED 181
# “
THE OLD SUNNY BROOK COMPANY, LOUISVILLE, KEN