Sewari Daily Gateway
OF SEWARD. ALASKA — ESTABLISHED August 19. 1904
Published Dally except Sunday by
THE CA1EWAY PUBLISHING COMPANY
Entered at the Post Office at Seward, Alaska, as second-class matter
H. V. KOBEN ami E. F. JESSEN, Proprietors
E. F JESSEN, Ed:tur and Manager Edwin A. Sandbeck, Associate Editor
The Associated Priss is exclusively entitled to use for republication of all news
dispatches credited to it or i oi otherwise in this newspaper and also the local news
published herein.
All rights fir rcpuancaiion of si>ecial dispatches herein are reserved.
SUBSCRIPTION RATES
uatiy, by carrier, per loonth, ......
ltaily, by mail, per mourn, .
Dairy, by -nail, per Tear. ....
Foreign postage (Extra) Daly. 300 issues .
Weekly Gateway or mad. r« yeer. ..
$ 1.25
l.no
10.00
«.oo
3.50
ADVERTISING RATES
V»r single < olunin. one to six inches, per inch, .
ter single column, pec n ontn, .
Ltcal notices, oer line, ter issue. .
Classified Advertising. per line I>cr issue, .
Me.ice ot r’ual Proof Notices .
Notice to Crcditoib, Noi'.ees .
$ .50
6.00
.15
.15
12.00
15.00
PROTECTING THE INVESTOR
In all likelihood, now that Alaska’s lode mining is
attracting the attention of the outside world, there will be
efforts to float “wild-cat” or “blue sky” companies for
fleecing the unwary.
In many states efforts to afford protection have
worked to the hardship of legitimate enterprises through
such procedure as limitation of the sale of stock, and
other unnecessary and burdensome regulations imposed
by men who are oftentimes named to these utilities
boards not for their knowledge and fairness but for pol
itical reasons, here have been evidences of graft in con
nection with granting permits.
A simple law for Alaska and one which gives the
fullest guarantee as far as disinterested human agency
can give, would be to enact a statute that a company to
do business in Alaska must submit its plan of organiza
tion along with its literature to the Board of Control for
scrutiny as to such things as overcapitalization and un
fair distribution of promotion and other stock. They
would be rated “A”, “B”, “C”, etc, according to corpora
tion principles. No limit would be set upon the sale of
treasury stock.
But, in the event that it was shown, after an investi
gation by the member of the Bureau of Mines and the
engineer of the Geological Survey, both attaehd to Alas
ka, was found that misleading or fraudulent advertis
ing was distributed, or false statements used in print,
these engineers could authorize publication of a state
ment simply saying that the statements and advertising
were not true.
In formulating such a bill, very safeguard would be
thrown around those legitimate corporations n o w so
much in need for developing Alaska’s lodes and placers,
and the way paved for bringing Alaskan enterprises into
the markets carrying every safeguard for the public.
One of the troubles with efforts to prevent swindles
is that the average man does not take the trouble to in
quire closely into corporate matters, or investigate those
things offered to him as facts.
It is for this reason that the statute of caveat emp
or (let the purchaser beware) was enacted.
What we do not wish is the enactment of blue sky
laws and have mining made the target, as has been the
case in the States.
It is a known fact that glib salesmen have traveled
Alaska from end to end seliing everything from dirig
ibles to black sand machines and group stocks.
If Alaska is to protect its greatest resource and en
list the confidence of its own and distant investors, it
needs to put a curb upon these fly by night stock sales
men by making them disclose their hand.
A newspaper may boom a town through its editorial
and news columns, but a critical investor takes his cue
from the advertising columns for substantial evidence as
to the thrift and prosperity of the place. To him the ad
vertising is the baromter that measures the prosperity
of a town. The ads reflect a prosperous condition and
tell him that the place is up with the times in business.
Healy River Coal
ECONOMICAL “ DEPENDABLE
SAFE
!
Fret irom Soot—Graded to suit every need
Priced to suit every purse
Healy River Coal Corp.
Home office at Anchorage, Alaska
GOLD RULE MEANS
MILLIONS ALASKA
AND NORTHWEST
| “The greatest thing for Seattle
1 and the Northwest gold miner since
the beginning of the depression,”
is what Lewis A. Levensaler, pro
minent Seattle mining engineer,
terms President Roosevelt’s pro
clamation which raised the export
price of gold from $20.67 to $30 an
l ounce.
A boom in gold mining in the
country similar to the rush of the
“Forty-Niners” with a direct bear
I ing on the Pacific states, is fore
seen by experts.
Investments of at least $2,000,
000 by financiers of the Northwest
in producing and partly producing
| properties in the Northwest area
and Alaska is entirely probable, J.
D. Hill, president of the Seattle
Mining club, said.
“Although the mining season in
Alaska is nearly over,” he stated,
“a total of $100,000 should be spent
for supplies in the n,ext six
months.”
I Enterprises that will most bene
j fit are the hardware companies,
! produce merchants and mining
supply firms. Many believe a per
manent increase i n employment
will follow7 as a matter of course.
Incidental to the influx of new
wealth to the Northwest, mining
heads fear, however, that wildcat
proposals may be foisted on the
public and investors are warned to
investigate properties before in
vesting.
“This move of the president will
increase the value of gold at least
50 per cent,” said Levensaler. “If
gold'is sold to Canada, for in
stance. where it would demand a
price of $30 plus, the product
would be paid for in terms of their
national currency. The price the
Northwrest would receive would be
the new price, with the exchange
rate deducted. To save this lat
ter. many producers will reinvest
in foreign securities.”
Dotting the Northwest states and i
Alaska the new gold price will op- 1
en up hundreds of “holes-in-the
ground.” when the owners see a
new outlet for their product. The
prospectors wrho will mount the
bandwagon of new' possible wealth
can be numbered in the thousands,
miners say.
AT THE HOTELS
OVERLAND— John Smith, Joe !
Broirel.
CLASSIFIED ADVS.
FOR SALE—Underwood Standard
typewriter in 1st class condition.
Price 820. See Elbert Kunz. 19
LOST— Suitcase on Starr. If any
one took same by mistake please
return to George Mavros, San
Juan Crossing.
WANTED—4 or 5 H. P. Outboard
Motor. R. L. Hatcher, Hotel Sew
ard. 9-14-33
Wanted—A number of boarders.
Mrs. Fairman, Call Mad. 77.
Have opening for active man not
over 50 years old. Must be cap
able of handling warehouse of
highest type merchandise. To
right man, corporation offers'
good contract with salary and j
commissions. Must be well ac- |
quainted in this territory and!
able to make small investment j
fully secured. Write fully, Paci
fic Business Service, Inc., 802
Arctic Building, Seattle, Wash- 1
ington. 11-16
“• i
CLEANING
PRESSING
ALTERATIONS
C. Henning’s
TAILOR SHOP
FOR EXPERT ■
BARBERING |
Go to ii
Miller’s Barber Shop '
Shower Baths a
LIBERTY HALL
Talking Motion Pictures Every Night But Monday
Show Tonight at 8 o’clock
—SPECIAL! SPECIAL! SPECIAL! SPECIAL! SPECIAL! —
The sensation picture of 1932. A picture based on facts and
told without reserve. The Chain Gang system of the South
exposed to the fullest extent in
“/ Am A Fugitive From the Chain Gang"
The 10-reel super-melodrama with the new star
PAUL MUNI _
in the leading role.
A powerful play that has caused action in many States.
With it we will show an interesting news-reel.
Cal M. Brosius
BUILDERS’ SUPPLIES
EVERY ITEM IN THE BUILDER’S LINE
AGENT FOR ROYCROFT MOOSE PASS MILL
Mine Supplies, Rails, Rail Bolts, Rail Spikes,
Wheelbarrows, Drill Steel, Blacksmith Coal
CMB
Phone Mad. 52
*
Seward, Alaska
THE ALASKA RAILROAD
TRAINS ARRIVE P.M. TRAINS DEPART A.M.
Thursday and Friday 6:00 Friday 9:00 Saturday 7:30
Mixed Train Arrives . Wednesday p. m.
Mixed Train Departs . Saturday not earlier than 10 a. m.
Round trip tickets on sale between all stations at 1 1-3 of one
way fare. Passengers from Seward leave on Friday or Satur
day; return the following Thursday or Friday. Passengers for
Seward from stations Curry South leave on Thursday and Fri
day. Consult ticket agent for further particulars and rates.
Motorship Discoverer
REGULAR SAILINGS FROM SEWARD TO KENAI, KASILOF,
NINILCHIK, SELDOVIA AND WAY PORTS
Captain Heinse Berger, Master
CLARK ANDRESEN, Agent
Steamship Starr
SAN JUAN FISHING & PACKING CO.
NEXT SAILING WEST, OCT. 22
Capt. Arthur Ryning
Phone Madison 139
Seward, Alaska
Steamer
Northwestern
Yukon .
Alaska
Northwestern
Yukon .
Lv. Seattle Lv. Seward
Sept. 9.Sept. 15
Sept. 25. 9 A.M.
Oct. 2. 9 A.M.
Oct. 11. 9 P.M.
Oct. 16. 9 A.M.
.Oct. 23. 9 A.M.
Sept 16
Sept. 23
Sept. 30
Oct. 7
Alaska .Oct. 14
Note: Effective with Yukon, September 16,
all steamers will call at Wrangell, Petersburg,
Haines and Skagway both ways, in addition
to regular ports. Yukon calls at Yakutat both
ways. Alaska calls at Sitka both ways. North
western goes to Seldovia and Kodiak each
trip.
J. H. Flickineer, Agent
Alaska Steamship Co