OTHE KUSKO TIMES
A. X. Grant, PiibiMm, Sttlr
Owner .and Editor.
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Entered as second-class matter Au
jgo.-t 20'h. li'23, at the piwvodice at
-Tokotna, Alaska, under the Act of
;March 3, 1879.
Takotna, Alaska, Dec. T4, 1929. !
-“STABILIZATION" IS TROUBLE- 1
SOME TERM FOR FARM BOARD
WASHINGTON.—It has taken a!
-special letter from Chairman Lcgge |
,of the Farm Board to Senator Mr-!
Nary, chairman of the Seriate agri
itural committee, to straighten out the
iterm “stabilization.”
Behind ithr letter is the fact infer
ence crept into various reports that
stabilization operations, in event of
.a 'arge surplus of any commodity,
would consist of the Farm Board it
;se:f buying and taking off the mar
ket some considerable tonnage so as '
-,to relieve the situation.
That operation properly belongs to i
)the commodity corporation and not to |
ithe board, it was pointed out.
Another point concerns what shall
constitute emergency stabilization
.and the nature of the corporation’s
-faction in the market
Wheat may b9 taken as an exam
ple. .Should the time cene when sur
plus production forced the domestic
•price to disastrous levels, 'stabiliza
tion” would consist of the grain cor
poration taking certain quantities off
the market and storing it for future
•return.
Whether the corporation would J»uy
:*t the current market price or at the
price it believed wheat to he worth
jnever has beyn determined and is ex
pected to be one of the biggest ques
tions in administtration of th of the
-agricultural marketing act should
;SUch an operation be undertaken.
.World conditions would probably
)bc the determining factor. By law
.the corporation must make reason
able provision against loss. If the
price were 60 or 80 cents a bushel
.and the corporation believed wheat
actually «o be •-'worth $1 or more, it
would.ih.ive t<> decide whether to buy
as little as possible or peg the mar
kui. Some hAlti .that if it bought at
the higher price the market automat
ically 'woiild rise ia that figure.
TEfTXROD REGION HAD
"MOST PROSPEROUS SEASON
The-mining reason which recently
floF''-! was the most prosperous the
iditarod district has experienced in
many years, according to Lee T.
Pen e, Iditarod banker, in a state
ment to the Fairbanks News-Miner.
This 's accounted for by the fact
that mining, the region’s principal'in-j
dustry, was aided by having. avaiiaUt
a sut p.y of water mueh-Etw've tfie'av
rr™o. Full advantage oi the wet
season was taken by large-and small
operators.
Mr. Pence estimates Stbr itotal*gold
production of the dditarod for 1929
at approximately.a queue e-.of a mil
lion. dollars. The* bulk of the output
came from the.JMhnhmson and Riley
'dredges and from operations on
Chickentand .Maejv creeks.
The dredge is digging
up the tenons ire of Flat. This season
it -worked over the business section
wens destroyed by fire, and
ither buildings have been moved to
make way for next summer’s work.
The Riley Investment Company’s
dredge is on Otter creek, two miles
from Flat. Ground on Chicken creek
worked by Mr. and Mrs. William
Ducy was a large producer, and the
Kashinen hydaulic plant on Moore
creek had an exceptionally good sea
son.
‘Taken all in all,” Mr. Pence said,;
“it was an excellent year. There was :
lots of water and . everyone made
Donnelley & Sheppard, Flat mer
chants, have just moved into thei fine
new .building, which was built by
Walter Jewell and Charles Mortimer
of Fairbanks, l^r. Donnelley, one of
the Fourtth division representatives
at the last legislative session, is also
manager fur the Riley Investment
Company and will be the district’s
banker henceforth.
Far some time Mr. Donnelley has {
owner the . majority of the- .stack ini
the Miners & Merchants Bank of Idit- \
arod and recently he purchased all
of Mr. Pence’s stock. The bank quar
ters have been moved from Jditarod
to Flat,' and Mr. Donnelley will take i
active charge of the business.
.Mr. Pence has sold out all his in
terests in the Iditarod, and plans on
leaving the country for good. He
held m controlling interest in the
Glenn Day Navigation, Company, and
Mr. Donnelley also bought his inter
est in that company.
The Alaska Road Commission, said
Mr. Pence, did quite a lot of work
Takotna Christmas ;
Big Entertainment for the Kiddies
and Two Nights of Dancing.
Starts Of With Grand'Sail
At Pioneer Hall
Tuesday Night, /December.24th.
Kiddie^ Christmas -Era, That. Night
during fhtrijanuft’fer'torfthe. eitfhWiwHe
"between TPIat' and Td:t•''r^•', The
road hex ’’been surfaced with slide
rock -erfri is-UTt good shape now.
331 ,l*unce ,:is on his way to Oak* «
land. ^-ilifotais, to join hiswife, who
wen; iOutside carder in the fall. He
is 1 saving the Iditarod country after
a reside .re there of eight years. i
SPENDING ON COAST '
CALSLS HEAL DEPRESSION
{Anchorage Times.)
T1, >re is the threat of a real de- j
plfvssio.i. along the Pacific coast as;
the r ittilv of curtailment of cxpehfH
tnres by the buying public, according
to late arriva.s from the States. .-No
one seems to knoow what star&di
retrenchment, but it is generally ..sm)
niitted in business circles that 'bu'.r£*.c
has raiier. off very perceptibly wj k~
cent weeks. The ?; is the hope, how- j
ever, that Christmas shopping -cmi he
stimulated sufficiently 4*. overcome
the present lull in buying and to1
start the new year off 'with a stride
that will hold conditions normal until
business is more settled.
Seattle merchants were complain-1
ing considerably last month even be- J
fore the slump in .the stock market,
according *n -Oliver .-Anderson,v well-j
known oldtimer of the interior, who j
returned north on the last boat to!
join the Anchorage store force of the
Northern Commercial Company.. He
has been Outside on. a vacation! fol- ,
lowing a stay of several years on the j j
Yukon river, where he was in charge i
of the oompanf’s store at Ruby. , (
There was a slowing dowp -of.'Jury
ing in Seattle as early -a* (September,
and as the :-AM>mbdv&nced this con
dition became steadily-more Apparent,
.htoe-ayhimp in stocks did not help mat
ters any, and failure of the market
to make recovery -tram the decline in
prices caused additional apprehension.
V'ery few of the stocks escaped the
New York, market crashTahd>. its ef- -
fects were very far reaching. Invest
ors in every section of the country |
lost money when prices dropped, and !
it was the natural thing for them to j
curtail their expenditures.
New York Central, which .stood at
228 early in October, is quoted this i
week at around 185; Kennecott Cop- I
per stands, at about 14 points under |
the October 1 lgures; U. S. Steel has
a present market value of About 1.74,
as against 219 before the slump;
Standard Oil of New Jersey, is down
about 14 points at 64; General Motors
had a value of more than 66 early .in
October and the last quotation was
43; Alaska Juneau isi down 3 points
from a high of 8, and so on all down
the line, with all of the better stocks
siiffeing along with the poof ones.
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PRANK LANGE
TRAGEDY MaTCKEI) END
; OFTFKE -HALIBUT SEASON,
i FFTKESntUBti.—Tragedy marked,
th*v«7viinj< (olf ,'tlw halibut season.
With'-ihe -arrival of the local hali
but heat Middleton, Captain Gus!
feaftwae*, ibe loss of Knute Haugen,
ruembor (if the crew, became known.
He wee swept overboard by a huge
-sea -vibHe the boat was off for Icy
Opy /in way to port.
Wink- searching for Haugen the
1 lahileton sighted a flare sent up by
berriejg seiner Hillside II of Seattle
and resci.ed the crew two hours be
i”
—■ -U -1 JIIXJMI.il
fore the boat sank. It was;® ttntai
loss. The Hillside was owadd?S;y Jie
Utopian’ Fisheries.
,* “Haugen Was unmarried* rafr 'fta.ti fc,0
relatives b ere. He arrived tw.t years
agorfrom Central Norway. Hfll
side’s crew was broughtuno Peters
burg by the Middkttou
The Cleary fox fawr sm Strait
isand wocntly sbijrped’,'i48 pairs of
blue foxes to the StSates far breeding
purposes. The animals* were -valued
at approximately $20,000
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