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‘ .*• - " END
The ..Alaska Weekly Past
•■«•' .. .* • fc MC V* v
published - Dady, Except Sunday* sad Holiday*
«»
GATEWAY PUBLISHING COMPANY, (lac.)
F. B. CAMP. EDITOR AND BUSINESS MANAGER.
Harry V. Hoben, President. Frank L. Baliaiae, See.
4 BANE OF SEWARD. Trustee,
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ftlirt rt' mrmi titn MUM SHMWr t *•». •* A» f«n Offki Hi IkfMi Aiuo.
aoMr Act ctf M«rcM I, 1679.
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AB V £HTI8iMa HATH* M w**»liw.
- Tdffr— Mhu 71.
_• /. ......t ■ 1__
"members OF TH£ associated press
\
The Associated Press is exclusively eatitled to the use for lepublicatiua
Of ail aews dispatches credited to it or sot otfccr#ise credited ia lids pep**
Ahd slpedhe fecM aews published htra*. o
j
■ ■ —^ri Hi - - —- -—. ,
.wNEITANDTiIAKKETS
CREDIT SITUATION
The downward revision of prices
continues to be the factor dominating
the general business outlook. The gov
ernment is a natural and inevitable
«y .« .
corrective of the unstable condition j
I . 4 .
created in the previous period of ris-i
rag prices, reckless public buying and
widespread speculation. Falling prices
are not a recent development. Before
the close of 1919 the prices of a numb
er of important commodities had be
gun to decline. By spring of 192# a
definite downward trend had been es
tablished. Since then the movement
has been accelerated, until within re-j
cent weeks it has forced genral.recog-;
nition that the period of execes^ive
buying, at rising prices has definitely
ended. Business must now go forward
on a lower price level. This readjust
ment cannot be effected without em
barrassment in individual cases. It
will be effected, however, without ser
ious general results by reason of the
inherent .strength of the eredit situa
tion and the assured cooperation of
the banks with business.
The banks are amply prepared to
finance business while it is writing
out a more normal basis of operation
and a stable level of prices. This pr©-^
cots will require the employment of a
large volume of credit. Inventories
cannot'be disposed of abruptly . la
many lines, owing to general indispo-'
sition to buy, their liquidation must be'
effected very gradually. Meanwhile,
they must be financed. The long run
effect of the downward price move
ment. however, will be to ease the
credit situation. The freedom from
disturbance with which the readjust
ment in effected depends largely en
the willingness of business to recog
nize Che changed conditions.
Stabilization on a new pnce basis
does not involve a return to the pre
war price level. For nearly two de
cades prior to the war, prices had bees
risjng steadily. On economic ground*
tbrs rise might reasonably have been
expected to continue, had there been
no war. Moreover, the improvement
effected in our credit and banking ma
chinery since the inauguration of th*
Federal reserve system now enables a
given gold reserve to finance a great
er volume of business at higher price*
than was practicable in the prewar
days. The country's present gold re
serve greatly exceds the prewar re
ft
serves, and this enlarged and concen
trated gold reserve will have a sus
taining influence on the new price lev
el. The actual level at which price*
will be stabilized can only be worked
out'gradually on the basis of actual
w • r
transcations over an entended period.
LOCALS
JfrsL John Nelson will entertain
tke Seward Bridge Club mt ker kome
amt Satsrdy afternoon at 2 o’clock.
Luaek will, be served «t 2.15.
• ‘ - *'■ #
Xhe 8. 8. Beans south bound arriyerf
at Seward yesterday afternoon W<1
left at 9 p. m. She was carrying a
capacity crowd of Aleakans bound for
the outside and ether Alaska towns.
n v • • ' **■
THE ALASKA OIL FIELD
■» s
The Alaska oil prophecy of Dr. AJ
% i
fre«l H. Brooks gives some official cpa
finnation to the hopeful views long;
held by many Alaskans and others
who have had glimpses of the promise j
of Alaska’s potential oil fields. Dr.
, i
Brooks, who is the geologist in charge1
of the Alaska division of the United
States geological survey; believes that j
the northern territory will became he'
oil-producing district next spring. Itj
would have been an oil-producing dis-j
trict long ago if development had uoel j
permitted. For many years the mineral!
and other treasures of the* northern I
territory were locked up. Then came a1
* j
time when the government made same
concessions to development and to $c
needs of the country. l**or one thing
gasoline is becoming scarce, and tire
old bountiful flow of poti oleum no
longer carries a surplusage. Alaska
is so promising a field, with petroleum
seeping to the surface in some dis
tricts, and the need for it is so keen,
that tire government is permitting con
cessions to operators and issuing per
mits— that is promising to issue them.
The first peiptit, as Dr. Brooks re
marks, was issued only within recent
>days. If others follow within a rewmn*
mere is far more pleasure to oe
derived from* the pursuit of happin. as
than there is in catching it.
.x __-*
We don’t blame some wives for do
ing all the talking. No one could live
with a man who knew it al].
We don't know much. But we do
know that the betting is 4,000,000,000
to X that your explanation won’t sound
> plausible to your wife as it does to
%
you.
-■ -
•It is human nature to criticise oth
ers becausa they do not do the things
that we cannot do ourselves.
A. __/__
able time the grand oil opening will
be due in the spring.
This is good news to Alaskans, and
it is good news for Seattle. Oil is some
little inducer of business of growth
and progress. With oil-producing wells
spouting in the great north, Seattle
would be likely to notice it. Many 01
lift old sourdoughs believp that oil is
to crate a greater future in Seattle
i T
and the northwest than the gold stride
and the rush of the gold-seekers of
1898 and subsequent years.
Dr. Brooks cautions the public
against the hazards of wildcating in
the northern oil fields, and it is a time
ly word in <that behalf. No great oi
discovery has yet been made that has
not been made the vehicle of fortune
hunting by unprincipled men. There
was oil in Pennsylvania and oil in Ok
lahoma, and oil in Texas, but, unfortu
nately, all the drill holes in these stat-;
es did not bring in producing wellsJ|
Wildcatters seized the psychic mo
ment for marketing worthless oil!
i
stock, and the public was badly bitten.
I The public may expect similar vent- j
ures in the northland. —<• Seattle P. I. j
i __*_ 1
Friends of E. E. Chamberlin, Sew
*
| ard's present mayor have been congra
I tulatiag him all day on th£ result of
the election. Seward loses a mayor and
gains a representative at Juneau. All
indications and return? received to
date show that Mr. ChaiAberlin has
been elected by a substantial majority
* V
- - -- • --
“Glacier
Breezes ”
I
PERT P AHAGRAPHS
OF SENSE AND NONSENSE
CAUGHT ON THE FLY BY
« THE HUMAN TOOTHPICK "
I _•_
I
The political atmosphere is 'now
c*car. Practically every man Who* ran
for office In the United States and
Alaska on the Republican ticket has
leen elected by a substantial majority.
?h$4>eople wanted a change of gov
ernment. They voted for the change
and have now obtaind it The next 4
i
years will do much , to show them :
whether the change they voted for is
-o be beneficial or otherwise. Times
will tell.
i
J
--
A certain man who draws a salary ;
>f more th^p two hundred dollars per 1
month from the A. E. C. absolutely re- j
fused to cast a vote in yesterdays' (
-‘lection. He is a citizen of th*»country i
uid entitled to vote but he didn't sim
" 1
ply because he did not want to. This j
man should buy a ticket out on the!
first boat and keep right on going \
until he is a long way from the Unit
ed States. We don't want such men in
the community and we certainly don't
need them. They are absolutely use
less and at the same time they are a
t
menace. Alaska has enough gougers
as it is without being compelled to
oiipport a man who refuses to cast a
vtfte.
Not only was the political atmo
sphere cleaned up last night, but the
local atmosphere which has been clou
dy and threatening during the past
few days was cleaned . up also by a
•ight snow fall, which whitened the
streets this morning and made the:
mountains look 'as if they had receiv
ed a new coating of white paint.
Using the purest and best flavored
maple sugar by the thousand tons
to make Karo Maple ' -
• . ....>
The American koine must have
ike best Over five million cans
of Karo Maple told last year.
.jm
The groves of Vermont and Canada produce
the purest and best flavored maple sugar. This
is where Karo Maple gets its delicious fevor.
The makers of Karo Maple are the torld’s
largest users of maple sugar.
Folkp who like the delicate taste and fatisfy
Ing flavor of real maple will welcome f K^ro
Maple—for waffles, pancakes, and as a delicious
spread on bread or toact.
It’s reasonably priced, and economical to use
for every meal—and sold everywhere..
Serve Karo Maple today -5 compare it for
flavor and price with other maple syrups.
If you, don't think it a real treat your
grocer will refund your money.
Be sure to asl& for Krio Maple in the Green
Can.
/ ScWnz Rivrwntetioft
JOHMSON-Ll£BE»l MERCANTILE CO.
ttle
. ... . ■ .__
,
I
Power Company
i
• \
Main 0
The Seward News Company
GEORGE PHELPS
_Booksellers, Newspapers and Stationers
=aPACIFIC STEAMSHIP COMPANYe_J
SAILINGS FROM SEATTLE,
S. s. ADMIRAL WATSON NOVI 3rd. ;!
Capt Chas. Glasscock. ;
S. S. ADMIRAL EVANS SAILS SOUTH |
BOUND FROM SEWARD MONDAY NOV. 1st I
Loaipmiy r«serve« Hgfct Ui fbtagt actoeMole witfemit mIIw.
ADMIRAL LINE BUILDING
Wayne Blue, Agent._ _■_Seward Alonica |
ALASKA IsKsIgjm
SAILING SCHEDULE
\ ,
Soil From
SEATTLE
Sept. 36
Oct. 7
Oct. 14
Oct. 25
Nov. 5
Nov. 15
Doe
STEAMER SEWARD
Northwestern Oct. € '
Alaska Oct. 13
Alameda Oct. 2t
Northwest on Oct* 31
Alameda Nor. It
Northwester* Nov. 21
»ue Lr Seward
SwtihhMMd
•c*. C
•ct 13
•etas
•et.81
Nee. II |
Ner. 21
I
I
A. H. McDONALD, Agent
LIST US DO
YOUR WASHING j
+ * * | :
Sevan Steen laundry
PHONE MAIN 14*
• __
FRATLXNAL I
-----1
. LO.amNaltfB
re s* ■xftis,,sst£
invite*.
Qua, Kreftinc, BicUtnr.
AH.L Meyer, Secretary.
• M
. PIONEERS OF ALASKA
IGLO NO. 9
MMHMi •*
Meet* m 2nd and 4U Friday
Midi Meath, S p. mi, flamer Hall
AftVWfyij IH' mi (UTOWAr
Will sacrifice my lets, 21, 22, 23, in
Block 23, f«r cash. Make a^ offer to
owner, Manuel Oliver, Guard No. 2,
Mare Island, California.
- ,_* •
SUBSCRIBE FOR THE GATEWAY:
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Office Inn 1 t*Sw47 left P. M
WILLIAM A. MMMfc
II. S. Mitertl. Simyn,
BUFMB McNEtLLflpM
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