(Ultr §>rutari> (Satfiuaij
Published Daily Except Sunday by The Seward Gateway Publishing Co.
BERNARD M. STONE, President.
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SEWARD, \LASKA. TUESDAY, DECEMBER 28, 1915.
The ending of the Ford expedition is pathetic. Perhaps if it had been
started under different circumstances it might have brought about some ad
vantage. The first great difficulty was that it contained no persons above
the status of the locally important. It is a pleasure to find that Thomas
Edison was n>t on the Oscar 11. He was the only man of real fame mention
ed in connection with the expedition. William Jennings Bryan also did not
travel as a member of the mission and this also saves the position of a sec
retary of state of the United States from ridicule. The presence of men
like Wanamaker would be regarded in Europe as an absurdity and an im
pertinence of a newly rich. Millionaires become so prominent in the United
States because of lack of any other title on which to base class distinctions
that we begin to regard a millionaire as the very pinnacle of the human
tower of glory. There are hundreds of men like Wanamaker in the cities of
Hamburg, Live? pool, Antwerp. Lille. Lodz and several other places without
mentioning the capitals at all. and such is life over there and such is the
aristocratic sentiment prevailing in European nations that to use the pos
session of a few million dollars to make oneself the arbiter of might) na
tions at war < ould be only regarded in those nations as the weakest sort of
impudence.
What a lot of reputations have been shattered by the war. In the days
preceding the great conflict generals strutted about Europe in gorgeous
bravery. Men who were supposed to be the greatest things the sun ever
complimented itself to shine upon are now very small vegetables of the
pom me de terre kind. ‘Twas always thus since the beginning of things, no
doubt. Son e always b> some stroke of fortune happen to get above others
and they are therefore looked upon as groat. But see how some of those
military reput; tions have crumbled.
Somehow that story of Tom Riggs giving his blood almost to its source
to save the lif.? of his w ife looks like the action one would expect from the
man. Riggs i a big splendid type. That fellow is the finest type of an
Alaskan. H.» is the sort of man w ho has made Alaskan fiction popular.
Would to God the government had brought in a thousand like him.
THE DISSOLUTION OK
THE GIGGENHEIM
EXPLORATION CO
The most valuable single invest-;
ment of the Guggenheim Exploration
Co. is the 404,304 shares of the Utah
Copper Co. This announcement is in- i
eluded in a formal statement issued
by the company which includes the
following information in relation to .
the forthcoming dissolution:
Directors deem it impracticable to i
dispose of this large block in the open
market at its fair value, anil consider,
it unwise to distribute it among stock*
holders under conditions likely to re
sult in substantial shrinkage in
values, to the injury of all concerned.
An opportunity has presented itself
which will enable the company to sell
these shares to Kennecott Copper
Corporation, on terms which will
I obviate these difficulties. It is pro
posed that the latter corporation pur
chtise this entire block by giving in
exchange l1 a shares of its own stock
' for each share of Utah Copper.
Kennecott Copper Corporation is
perfecting arrangements with a syn
dicate which will purchase from your
company the requisite number of
shares of Kennecott Copper Corpora
tion received by it, whereby stock
holders of your company will be'en
abled to elect whether they desire
their respective proportions of pro
ceeds of sale of this block of stock to
be distributed to them in shares of
Kennecott Copper Corporation, or in
cash at $75 per share for Utah Cop
per stock so sold.
Kennecott Copper Corporation was
organized April 29, 1915, under the
laws of New York. It has issued
720.000 shares, without nominal or
par value. Its present capital is fixed
at $6,000,000. On May 27, 1915, it
acquired mining claims and property
in Alaska known as Kennecott Mines,
and shortly thereafter there was con
veyed to it the mining property in
Alaska formerly belonging to Heat
son Copper Co. These constitute cop
per producing properties on which ex
tensive valuable minerl deposits
have been developed. Extraction of
ore has been in progress on these
properties in constantly increasing
volume for several years past. Ken
necott Copper Corporation has now
outstanding $10,000,000 first mortg
age 6 per cent. ten-year gold bonds,
convertible into stock in ratio of 40
shares each $1000 bond. It has no
floating debt except for current lia
bilities and for advances made against
copper already sold.
Kennecott Copper Corporation pro
poses, if it can do so on fair terms, to
acquire additional properties and
property rights, and to that end con
templates an increase of number of
its shares, to be issued without nom
inal or par value, from 720,000 to 3,
000,000 shares, and of its capital from
$6,000,000 to $15,000,000. The 2,280,
000 of new shares are intended to be
devoted to the following purposes, to
extent stated:
(1) For purchase of 404,504 shares
of Utah Copper Co. stock owned by '
your company—606,756 shares.
(2) For purchase from respective;
owners the shares of stock, convert- J
ible bon<ls and convertible debentures
of Hrayden Copper Mines Co.—800,
000 shares.
i
(3) For purchase from Alaska
Syndicate of 48,174 shares of Copper i
River & Northwestern Railway Co.,
par value $100, being its entire out
standing stock of $23,020,000 par
value of 5 per cent 50-year gold bonds
! of said railway company, being all its
outstanding bonds, and of 13,000
shares of Alaska Steamship Co., par
value $100. out of total authorized
outstanding stock of 30,000 shares—
200.000 shares.
(4) For retirement of $10,000,000
Merchandise
and Service
If a man is going to succeed in
business he must give the public
the best value and service lor the g
price. I
It is our aim to succeed and we I
want to help you do the same,when 1
it comes to getting satisfaction in I
YOUR faith in caking. Our aims are in harmony I
yourself, in your on this subject.
ability to do and dare . r
is the stronger when we represent a complete line of
you know your clothes Men’s Furnishings that is the next
outwardly evidence the . . .
zeal, the ambition you thing to perfection. We invite you
feel within you. That*# t0 come in and investigate our.
one of the very qualities ,
you are sure to find in stock. We won t ask you to buy,
_ , . you’ll want to.
Schoenbrun
'Shayne-BruH— Let us ge£ together 0n the cloth
Ta oring .. .
ing subject
—come In and let us show ■ ■ —
you the others. Get posted
on the new fabrics and the rpi \ X* 7 O
new fashions. You won't be J J^0 IVlinerS OtOTO
urged to order—you 11 want
to, when you hear the very FRANK J COTTER’ M“n,ger
reasonable prices. Phone Adams 131 Seward, Alaska
We are at your service* _ _
convertible bonds of Kennecott Cop
per Corporation—400,000.
(6) For compensation to be paid
an underwriting syndicate, in consid
eration of services to Kennecott Cop
per Corporation to meet cash require
ments of proposed plan, which in
volves alternative offers of cash to
holders of the securities mentioned in
above subdivisions (1), (2) and*(4)—
65,000 shares—Total 2,071,756.
The remaining 208,244 shares of
new stock and such shares above
specified as many not be used for pur
poses indicated will be available for
general corporate purposes of Kenne
cott Copper Corporation.
The Messrs. Guggenheim, who are
officers and directors of your company
are owners of large holdings of stock,
bonds and debentures of Braden Cop
per Mines Co. and of stock and bonds
of Kennecott Copper Corporation.
They are also members of Alaska
Syndicate, and as such largely inter
ested in securities which Kennecott
; Copper Corporation proposes to pur
chase from that syndicate and in
shares of Kennecott Copper Corpora
tion owned by such syndicate. J. P.
Morgan & Co. are likewise holders of
large amounts of bonds of Kennecott
Copper Corporation, and are members
of Alaska Syndicate. That firm, as
well as the Messrs. Guggenheim, and
directors of some or all of the corpor
ations herein named, may become
subscribers to the underwriting syn
dicate, when organized, and partici
pate in compensation to be paid that
syndicate.
On consummation of proposed sale |
of shares of the Utah Copper Co., it is
the present purpose of directors,
while retaining in the corporate treas
ury property exceeding in value the
stock of your company, to make a dis
tribution of a portion of its asset
among its stockholders, as follows:
(a) The proceeds of the Utah Cop
per Co. stock, by paying to such
stockholders as elect to take their |
proportionate share of sufrh proceeds
in cash $36,387 in cash for each share
of Guggenheim Exploration Co. held
by them, and to such stockholders as
eloct to accept shares in Kennecott
Copper Corporation, 0.7277 per cent,
of a share of the latter company for
each share of Guggenheim Explora
tion Co. held by them respectively.
(b) 97,750 shares of Chino Copper
Co., by transferring to each stock
holder of Guggenheim Exploration
Co. 0.1172 per cent of a sharo if
Chino stock for each share of Guggen
heim Exploration Co. held by him.
(c) 69,500 shares of common stock
of American Smelting & Refining Co.,
by transferring to each stockholder of
Guggenheim Exploration Co. 0.0833
per cent, of a share of common stock
of the Smelting company for each
share of Guggenheim Exploration Co.
held by him.
(d) 154,300 shares of Ray Con.
Copper Co., by transferring to each
stockholder of Guggenheim Explora
tion Co. 0.1850 of a share of Ray Co.
for each share of Guggenheim Ex-1
ploration Co. held by him.—Mining
& Engineering World, Dec. 1915.
Mens and boys Jersey sweaters in
plain and athletic stripes. Just the
thing for winter wear. Bro^'n &
Hawkins. “Quality First."
Phone your orders for Xmas cakes,
puddings and bakery goods to Adams
115, the Home Bakery. 12-13tf
MASONIC button found near Bank
of Seward. Inquire of Leon- Booker, \
secretary Masonic Club. 12-24—2t.
Noodle Cafe. Phone Main 111.
Tray service receives prompt at
tention. 10-5—tf.
Ladies’ and childrens’ furnishings
at Butt’s.
Long distance telephone booth at
The Branch. ,
USE THE PHONE
ALASKA ELECTRIC CO.
■S. M. QRAFF
President and General Manager
L, r! C. S. < E<s*nbur,H'‘
L. F. I*. &. S., Glasgow.
J. M. SLOAN, M. D., C. M.
OVER OATEWAY
Office Hour*, I to; 3 and 7 to 8 P. M.
FoiiMKitr.Y or Nosik.
LEANOER L. JAMES, JR.
ATTORNEY AT LAW .
Over Bank of Seward
SEWARD. - ALASKA
! ROMIG & ROMIG
REAL ESTATE AGENTS
Houses for Kent, Hents Collected,
Titles Examined, Lots for Sale.
Large Listing.
Phone Main 48 Seward, Alaska.
_.—
Miller’s Barber Shop
Wo make a specialty of
removing; warts, etc.
j
Hot and Cold BATHS Always Ready
Seward Water
and
Power Company
John A. Nelson, Manager
Office - Bank of Seward Building
SEWARD. - ALASKA
THE ALASKA HOUSE
ANCHORAGE. ALASKA
Warm Rooms First-Class
Rates Reasonable
BILLY PETERSON & D. TIRCATTE, Props.*
igloo No. 9.
Order of Pioneers
Meets the First and Third Tuesday Nights
of each Month at the Pioneer Hull*
J. LINDIEY GREEN, ISAAC bVANS,
Presldeat. Secretary.
HARVEY & CO.
»
Contractors and Builders
ESTIMATES FURNISHED
Near Primary School, Second Ave., Seward
J. hi. ROMIG, M. D.
OFFICE THIRD AVENUE
Phone Main 48
HOTEL SEWARD
5 II THIRD AVE.
Arctic Club Hid*. SEATTLE. WASH
ZBINDEN BROS., Prop*.
wuhBath°*i.fiO Speciil Weekly Rates
GERALD’S CAFE
Clarence J.Gerald, Proprietor
824 First Avenue.
Seattle, Wn.
Seattle's Best
Eating House
Kverythinj? Fresh from the
Famous Gerald Ranch
- SAFETY FIRST! -
Ruhstaller’s
Gilt Edge
Beer
Sacramento, Calif.
SERVED AT ALL CAFES
FRYE & BRUHN
COMPANY
SEWARD, - - ALASKA
Choice Fresh Meats
Hams, Bacon and Lard
Butter and Eggs
I
Jll
Brown &
Hawkins
Exclusive
Distributors
For
Southwestern
Alaska
GEO. MITCHELL CHAD WILLIAMS
The Seward Gri!'
COOKING POK THE CONNOISSEUR
Alaska Game and Sea Food
Sourdough Breakfast Merchants Lunch Society 1 dinners
Open all night, every night. Fourth Avenue, Seward
HOTEL 0\1 III W I
E. L. VVHITTEMORE, PROP.
Headquarters for Mining Men
SEWARD, - - - ALASKA
j
Pioneer
Hotel
F. B. CANNON. Prop.
Knik
Alaska
KNIK’S LEADING HOTEL
NO BA K
Accommodations for Ninety Guests
Largo General Lobby
Private Lobby for Ladies
Best Rates : : Best Treatment
B ESI A CCOM M O DAT IONS
ADELMANSQUILTY—SEWARD DAIRY
MILK AND CREAM
See Us About Your Cream Orders for tire Holidays.
THE SEWARD LIGHT AMD POWER CO.
Incorporated November 1905 under the Laws of the Territory of Alaska
S. M. GRAFF, President and General Manager
Controctors and dealers in Electric Supplies and Apparatus
Offlc« At the Station. TE'-EPHONE MAIN 12S
I „ „ ..„„ — Alaska Lumber
Lumber
DIMENSION LUMBER IN ANY QUANTITY NOW
DRESSED LUMBER IN ANY QUANTITY SOON
The Seward Sawmill Co.
A. F. RASMUSSEN, Proprietor Phone, Kenai 2
THE ALASKA SHOE & HARNESS SHOP
JACOB PHILE. Prop.
Shoes, Boots and Harness Repairing
WASHINGTON ST. SEWARD, ALASKA
nor TWlTrn In Ton or Car Lots
11 K r IHrAIrSS assaying and analyses
UIIL I IILrH I LU of ore samples
H. E. ELLSWORTH, Assayer and Chemist
A Complete Equipment for Mining QoU/^Pfi Ahct 3
and Technical Determinations Ov"Ul 1*9 'llQvjftQ
FURNITURE AND HARDWARE
COAL MINER'S AND GOLD MINER’S SUPPLIES
Doors & Windows
Lang’s Ranges
I XL Parlor Heaters
Gasoline Stoves
Cook Stoves
Camp Stoves
Air Tight Heaters
Oil Stoves
Alcohol Stoves
Spark Plugs
Jump Coils
Batteries
Granite Ware
Aluminum Ware
Asbestos
P & B Paper
Malthoid Rooting
Tar Paper
Deafening felt
Weather Strips
Gasoline
Gas Engine Oil
Marine En^ino Oil
Valve Oil
Elaine Oil
Floor Oil
Linseed Oil
Cup Grease
Paints
Lacqueret Paint
Asphalt urn Paint
Brushes
Varnishes
Turpentine
Japan
Denatured Alcohol
Coal Tar
Lamps
Lanterns
Tents
PHONE BLACK 4 I
Rifles
Shot Guns
Ammunition
Fishinc Tackle
Giant Powder
Caps
Fuse
Henoh Force*
Hlaoksmith's Coal
Hellow \
Wheel Harrow*
Cutler*
Fite cW
Ft re Hriok
Lime
Cement
Glas*
Hope
Mercury
Sein* Twine
J. L. GRAEF
Get“More Money” for your Foxes I
Black. Silver, Cross, Red, White and Blue, Lynx, J
Bear, Marten end other Far bearer* collected ia year aectlon
SHIP YOITR FURS DIltFCT to "SHUHKHT" Jfcf
house In the World dealing exclusively In NORTH AMIRICANRAW MiRS
a reliable—re*pon*»ble—*iie Fur Iiouae with an unblemished rep
u tat ion existing (or "more than a third o( * century. a l‘\tuc euc
ceoaful record of tendina Fur Shipper* prompt,S ATISF At. 1' »K \
AND PROFITAIM.K return*. Write for "«bt **PP«
the only reliable, accurate market report and price lint published.
Write lor lt~NOW-|f« FHFK
A. B. SHUBERT, Inc. Dep7T5 K~CH^CAGo!uA3Va! |