HE KUSKO TIMES
A. X. Grant, Publisher, Sole
Owner and Editor.
Published Every Saturday
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Entered as secona-aiass matter Au
gust 29th, 1923, at the postoffice at
Tokotna, Alaska, under ths Act of
March 3, 1879.
I'akotna, Alaska. September 3. 1932
GERMANY’S WAR DEBT
FIXED AT S7U.QOO.OOtt. BONDS1
LAUSANNE, Switzerland.—In the'
greatest financial deal in history, the
Allies today wrote off the German
reparations, fixed shortly after the
war at $05,000,000,000, and substitutr
ed <for it a German pledge of $714.
000,000 in bonds.
The settlement amounts to. about;
one cent on the dollar of the original j
Getman debt.
This agreement does the following;!
things: j
It sets German’s final lump-sttm!
payment at 3,000,000,000 marks $714,
000,000). |
It ends the Young plan with its 37'
annuities, which was established only!
three years ago at the price of four!
months’ negotiations.
It reduces Germany’s present in- j
debtedness under the Young plan by !
29,000,000,000 marks ($6,902,000,000).;
Interest rates over the 59-year period i
provided by the Y'oung plan would;
hmave boosted this figure to $28,000, :
000,000.
It ends reparations, so far as hu
man foresight can indicate.
It establishes a three-year, mora
torium, which probably will be ac
companied by at least one full-yearj
moratorium pn all . inter-European j
war debts.
It provide-, that .Germanyls 3,090,- j
000,000 mark payment shall be cov- j
ered with .Reich-guaranteed (bonds |
which will be deposited, in a special!
department of the Bank for Inter
national Settlements and only issued
at That moment after the expiration
of <the three-year moratorium when
Germany’s, economic situation can
I *
withstand it without strain. It pro
vides further that these bonds, if and
when issued, shall he at 90, with 5
per cent interest and 1 per cent amor
tization, and that, if all the bonds
shall not have beei> issued at the end
of 15 years, they shall be canceled.
There are those here who doubt
whether the major portion of ths
German, bond issue payment over, will
be necessitated..
These, however, are the vital
things accomplished* hy then, accord
reached this afternoon at the close
of 60 hours of high-tensioned - .and
dramatic negotiations, which;, threat-i
ened repeatedly to break down over
the German delegation’s endeavor to
obtain political advantages and the
whitewashing of war guilt at :a Euf
ropean financial- bargain counter.
To all practical purposes* the Lau
sanne agreement has eliminated. Ger
many’s war guilt by simply ignoring
it and abrogating the reparations- de
maids of the Versailles Treaty. The
conference, by discarding war guilt as
an economic issue, has made the sub
ject a mere academic issue for the
historians.
PLANE CARRIES INJURED 'i
MINER; PERILUOS TRIP
Pilot Call, of thf*. -McGee. Airways,
does not mind going places with his
trusty ship, i uti hereafter he is going
to have s me thing >>to. say. about the
kind of passenger* e hails. This de
cision was reached' while he was- Hy
ing, around. the. .Stewasd Peninsula
country recently, after he had been
called upon bo load, ato injured- miner
in the cabin of his' plane for an-.emer
gency flight from Dee'ring to Kotze
bue.
The man had fallen do.wn.a 50-foot
shaft at the H. L. Stull workings, and
Call arrived there just as’.fche.u man
was being brought to the Surface, He
was bleeding considerably and uncon
scious and apparently in dira.need of
hospital treatment, so .if was up to
Pilot Call to-provide transportation to
Kotzebue, .the. nearest.-source of aid.
Still unconscious, the injured nian« a
great big fellow, about three times
the size of the .pilpt, , was-Joaded
aboard the ship and securely* lashed
to the seats in the cabis. The-weather
was such that-Pilot .GaHyc'e»U.;.»noto.
head his plane across Kotzebue sound,
so he followed the coast, line, making
the flight CDnsiderablyJ-longt'r/.-mare
than an hour being required to .reach
the Kotzebue hospital..
After the plane had reached airaltir
tude of several thousand feet, to get
above the fog, the injured passenger
began to revive somewhat and with
a return- of consciousness • came* a de-.
sire to free himself from the ropes
with which he ad been bound. He-did
I
RE-ELECT
W. K. KELLER*
REPUBLICAN CANDIDATE FOR, '.
Commissioner of Education a
HfS RECORD IS HIS RECOMMENDATION •'
FIRE INSURANCE
I; You-should carry a literal aircunt of fire insurance.
^ for the sake of your credit and your peace.of mind,
| Needless to say this insurance should be-effthe very
j highest quality.
That’s the Kind Written By w
Alaska Insurance Agency
iquire of Kusko Times.
FAIRBANKS, ALASKA
not know wat it was alLibduV’.and
Pilot Call was too busy, with his navi
gation to explain matters. The in
jured man, with his , mind . in a daze,
pulled and tugged at the,/ropes and
began throwing,things from the cabin,
and probably would Jiasne thrown
himself out, too„ if hei'could have re
leased himself.. But, luckily for him,
and perhaps for. Call, also, the bind
ings held until, the. plane reached its
destination and the passenger was
safely delivered, at the hospital. Call
did not want to see how the patient!
came out; h e was. glad.to get under j
way again, and.far .from further ac
quaintance with the injured man. I
. The remarkable-, thing ahout. the
case was that the man was able to put
up such a struggle after falling a dis
tance of 50.feet down, a mine shaft.
Under the . circumstances, Pilot Call
ensiders that he.was lucky to.get. out
of the mess with a whole ship, and
after, this, he .is not -going to iarryi
unconscious, passengers, unless he is
guaranteed that .they, will not revive
unexpectedly after, they, get oc . the
ground.
NEW HEAVY “CHAMP"
6 LOOMING IN ENGLAND;
j LONDON..—Jack Petersen, 2(Lyear
; old Welsh .gi;»nt. , is .Britain's new
' heavyweight boxing champion.
• Petersen has had.only 18 months
-of professionaLeacperience, but it took
.him less .tftaru.five "minutes - to-', put
j away Reggie Meens, the deposed, title
j holder.
Petersen now holds three champion- j
j ships, British heavy, Welsh- heavy and i
; British cruiser. He is after the world'
title and may appear in America. !
English sport writers; are. almost j
lyrical in -his. praise.
1 “Nothing, quite like .him since, the,1
•palmiest days of George Carpen-;
tier,” one wrote. Another* describing
'Petersen after delivering the knock
out, did it this- way: . •
"There in the middle was a dancing
boy of Wailesu Gone the grim fight
ing expression^just waving arms, a
laughing face, and a. new hope -for
Britain was born.”
Petersen is said to have given, up j
university foij fighting.
NEW SITUATION FACES
VON PAPEN, GERMANY
BERLIN.-r-The sentencing of, five
Fascists to death, following, their con
viction on a charge of riotingy threal
j ens to involve the .government in new
land grave difficulties, and the belief,
is expressed, that Chancellor von
Papen will be compelled to commute
the sentences to life .imprisonment.
When the .sentences-were imposed
yesterday there was a renewal of dis
turbances and open threats . of . re
prisals in the event the sentences
are carried out. It--. is., apparent that
the Hitler fortes have been strength
ened and that serious trouble will fol
lib.w unless .the. sentences are com
muted or th everdict of the cohrt
quashed, as- demanded by the Nazis.
The nationalist press points out
^on Papen has an excuse for modify
ihg the sentence, for the reason that
the offenses were committed only two
hours after the death penalty decree
was promulgated. It is. considered
likely .that thi* will be the excuse for
revising the sentence.
PINCHOT.. WANTS. SENATOR'
JAMBS DAVIS TO RESIGN
HARRISBURG.—Following- the. in
dictment of Senator James Ji. Davis
on charges of participation’ in. a', lot
tery in connection^ with Jfche isale of
dartre tickets. for. the. vVIbBSe',:"lodge,
Governor Pinchot. has.vLemanded'’. that
(he Senate be asked;** withdraw as
'$ candidate for re-election. - .
I Tho Govemor.-. nsd addressed^ let-,
'ter to. the Republican State organoa
tion, demanding that .Davis be asked
to resign. .
Senator Davis refuses to gpmment
. .on this., new .development.
Boy (calling father on the tele
phone at the office ).—Hello 1 Who is
this,?
. Father (recognizing son’s, voice)—
The smartest man in the world.
Boy—Pardon me, I got the wrong
number..
“Tom,” said the teacher, “what is
one-half of three-seventeenths?”
“f 'iun’t.. know . exactly,” replied
Tom, “but it isn’t enough to worry
about.”
“Willie;” said the Sunday school
teacher, severely, “you shouldn’t talk
like that to your playmate. Had you
ever thoughtiof BeJUrifiK-jcoals of fire ;•
on his headft.” 4
“No, pia’ara, I hadn't, but it’s a
peach of <an idea.'’
-- ■>
.. Circus Manager—Well, what’s gone
wrong now f
India-rubherc Man—Evlrrjr time the ■
strung man writes a letter ha uses
me to rub out the mistakes.
j
First . Farmer—I’ve got:.a freak on
my farm. It's.'a two-legged calf.
Second Farmer-r-I know. He- came •
over to call on my daughter-last night. .
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