A wire was received from the Ten
ton office of the Reynolds-Alaska De
velopment Company, stating that the
officials having in charge the hand
ling of the indebtedness of frhe Alaska
Home Railway and the Reynolds
bank, and raising of funds for the
completion of the road, are now pre
pared to make a settlement of all
claims, on the following bo :
Payment of the laborers’ payroll in
cash.
Creditors of the railroad company |
ta take bonds in full payment.
Creditors of the Reynolds bank to
take one half in cash and one half in
bonds, with a bonus of 23 per cent of
the face value of the latter.
A settlement on this basis r an be j
consummated as soon ns the neces
sary papers are drawn.
A committee composed of Blarney
Stevens, representing the Alaska
Home railway, and members repre
senting the creditors, will call on
those interested as soon as possible,
in order that no time will be lost in
clearing matters up, to the end that
work may be resumed on the rail
road.
All or the beattle creditors of tne
Alaska Home have agreed to take the
bonds of the Reynolds-Alaska Devel-;
opment Company in payment of their j
claims, and have signed papers to;
this effect. Local creditors have also ;
consented to accept the bonds in
liquidation of their accounts against
the railroad. The indebtedness tout
disposed of will be about £75,050.
The laborers’ payroll will amount to
at least §20,COO, and as before stated. ;
will be paid in cash.
The bank’s indebtedness is about
$60,010, and most of the creditors ex-:
press a willingness to settle on the ■
basis of receiving half cash at once, 1
the remainder in bonds which are
known to be of value, and especially
with all the indebtedness cleared
up and the resumption of work on tbs
railroad. Most of the depositors who
had money on deposit when the bank
closed, are local business men who
are desirous of seeing a road con
structed to the interior, appreciating
the fact that they will profit indirect
ly therefrom.
. <* . i
in discussing tne matter, one 01
largest depositors of the bank and a
loyal citizen of the town, said:
"I am certainly in favor of settling
on the basis of taking one balf of the
amount I had on deposit in cash, the
other in bonds. I figure that the
bonds are a good investment, and in
directly, in a business way, I will
make four fold the amount I had cn
deposit, by having matters speedily
adjusted and work on the railroad
resumed. I think it is to the best ad
vantage of all bank creditors to ac
cept the proposition offered, rather
than go through lengthy and com
plex litigation. People should re
cognize the fact that Valdez needs a
railroad to the interior, and should
assist the undertaking with all their
power. I feel that the Alaska Home
people are showing a disposition to do
the right thing, and they certain-'.'
• deserve much credit for their ent •:*
prise in trying to clear matters up,
and proceed with the work of con
struction. And this, too, ii. the face
of the present financial situation. if
is only proper, in my judgment, that
the laborers, mostly poor men unable
to stand ihe 1c he ^ a'd in cask.
“Then, try nest of the business
men cf th'.o tow/, made money out «-f
the largely augmented business a* a
direct result of the lu.M^uratinn of
work cn the Alaska Homo railroad.
If all interested wki now share a lit
tle in the burden by haring patience,
one cf the cardinal virtues, Valdez
will toon bo the >cor.e of renewed
activi.y. Let oh get in and lend a
band, it is a meritorious projeot,
and deserves suece. .0“
.. i)ec. 21—Con
gr< man Joi . i luce a reso
lution ;:i the h uv ' ju ai/.ing ihc pay
in the armv, u?.v . m.'.fin** corps ami
revenue cutter s: .vh o.
Washingb'-n, P. IX e. 21—It is
learned th.-.t Judge s'/ - -, II. Reid’s
confirmat: i- h in the senate
principally at the request of Ala -
kans wl. • (Led the late Juneau
convent7 ? . v. h bn. v that he is
not fitted i • fill ; ; Ala kn judgeship
becau e he is amiliar wi the
general mi nil ( laws ?/ d th • u usual
conditions of the N* r.hru t erritoiy.
ihc < bjeci ..r ire m.t considered
serious enough t d a . h s confirma
tion eventually, will e me
New York, D .2! James Kai
ton Lewi . f. *mcr errpt ration counsel
of Chicago, is hc/> n: a professional
trip. He is being ur< d l y his politi
cal frier.'. i." I is to accept the
Dorn-or. tie .. . i ' u :■ r governor
of .hat ski. e. In i i/Tviev. with a
New Yorl: n : -o r in regard to
the matter, he i ’ c would accept
the nc min di/.: .
Jacobs Creek, . • Dec. 21 A
fearful oxpfcsi- :. i ! I.y spt.nta
noous combust) : • • erred in the
Durr c; * 1 mi. c 1 r ; -day. i wo
hundr d and i , driers w .
tombed in tk b.-wel of tl. .* i .vth,
ell of v:h -m ;■ • i he k i h ■ w,,ik < f
recover :g i’ ' of- i progressing
night and dry, • : d thus fur thirteen
corpses have been taken * ut. i ftrt t*
of them V r< I', vlicas.
g.-nDee. .1—ilan v Aoci, a
former < upl- ’ +■ • f*f tha Alaska Ilonia
XUilv a> Company, he. b:£un suit to
re:.,-., r nag a dne, fr m Key
D. tGMAN & CO.
E-TA2L'-HCr> IS5T
St. I’ai b. Minn.
Ui'Zl-T DEit-EK* IS TRE NOETHWEJTO
RAW FURS
Ship Dirrct to t ■ * r*l» for Pr;c« List
]f vnii <!• -ire wr: or -Hip to
McMillan r-ur
hi Wool Go
41 Laxw. iv Ur.. Viiiokii, C.
I
MM i. 1».
in h> c jmplair.t are at >ckhi lders of
ihe company, and who .subscribed
a o : - number of shares in tht? con
cern and failed i • pa., fir tin ame.
Ante* was a think*:»•: « ne of ihe
railroad camps, and suing oil be
half o: a l'.und **r ef employes e ho
!:a\f assigned thrir • lain'- :o 1dm.
Washington. P. 1W*. -1— No
ajcesagr* hr.v? ! e?n r. iv*d from the*
au plana h»vw b««n madw ft r t>ha re
turn of the Heat to th« Atlantic Coast.
\Va*hington. I>. Dee. 21-- Sec
retary of tin Treasury (ortalvou ha«
been t rdared i > appear in court ou
January 3rd to alow eauac why l;«
ahoidd net lie enjoim d fr« m ia*nirg
Panama • n:i;tI In :«h, Tin* applica
tion for an injunction come* from
George AlH'ir, v> h *e hid f< r lend*
w:i^ reje lad.
Telegraph ourt Mail Town ill Itself. Kla’kamitb
Station. in T
^oHman’s Roadhouse
FOOT Oh srMlilT, TWKNTT MII.FUS F'TtOM tAl.Prt
Accommodation for 40 horses. Warm Dcjhouaci
A FiJLL 9TQQK OF ;G EA^EFAL S^rTUM*
t kCIUH l'_y«. «vuu«n*.1 for "^> P<> n 111! * P t 91A
from Yaldfx i« tht ^rUltllUi iTiajliuaun r
4$ Miles From Valdez
On Government Trail.
lit** l <>i arcoimnofia?ion* for man and Frfah
a Iway* on hand. Florae and F>osz Fe^d Aii IV>«
imj'rovrinpni*. PRIVAdK ROOMS.
Mrs. Ed. Wood, Proprietor.
TOnSItIAROADtIOUSt
■SO Miles from Valdez at Junction of Fairbanks
and Nizina Trails.
§ First Glass Accommodations for Ksn cr Beast
C OMPLETE OUTFITS FOR PROSPECT OR 3
HAY and n Freighting done to any part of Interior.
GRAIN Big Contracts a Specialty. , ,
j When in Copper
I Center Stop at
j Headquarters for Commercial Travelers
Best of Accomodations and Service Guar
anteed. Private Rooms. Ail the latest
Improvements. Horse and Do^ Feed
for Sale
RINGWALD BLIX,
| Proprietor
DRY CREEK ROADHOUSE
L. G and G. IS. ROREE, Proprietor*.
11* MILKS ON FAiRBAN KJ
FROM VA1.DK/ AND RAG LB TRATU
The Tacoma Roadhouse
•"in miles from Valdez on government trail. One mil® fro*»
telegraph station at Tfikliell. Fir»t-clare Arroranneri*lie*B
for men and beatt. Ilav and Grain for kilt.
PBIVATE ROOMS Dick Wiadmiiiex, PlQJk.