The Alaska citizen., 1911-01-09

ing situate on Second, east of Cush- man. fronting Y feet on Second and extending back an equal width to Third
 Also the New Barnette building. at Second and Turner. together with the rents. issues and profits thereof and his rights to all monies due from said buildings; it being the in tent of the party of the first part to convey all his rights in the build ing to the party of the second part. who Is now the owner of the ground upon which said building is situate"
 A considerable amount of other Barnette property in town Is in the name of Mrs Barnette and it is very doubtful if any of it remains in the name of the captain.
 The faith of the depositors in the First National bank and the Amer ican bank was shown when, on the day after the failure of the Washing ton-Alaska, the withdrawals amount ed to hardly more than the deposits
 in those institutions. Mir Wood and MT. Brlning had announced that they had ample funds to pay off all de- positors and these statements were believed. For the first half hour of business on Thursday morning there were I few more withdrawals than usual but the sight of the great stacks of currency and gold coin soon inspired feeling of confidence and before the bank closed the de- posits almost balanced the withdraw als.
 The first sign of the confidence
 in the ability of the receivers to save goodly percentage of the de- posits intact is given by F. w. Griffin, the Cinema merchant, who is out with the statement to the effect that he will advance groceries, meat and hardware to the extent of % per cent. of the deposit account in the bank, taking an assignment of the account as security.
 This statement coming from MT. Griffin is very significant as, being one of the depostUrs committee, which has conferred with the receiv- CTS. and having at one time been the federal bank examiner here, he is well qualified to estimate correctly the present condition of the bank.
 The failure of the Washington Alaska bank can be ascribed, among other causes, to the bad management of that institution during the past summer. It is stated that, in a frantic effort to get ahead of the other banks, as many as six and seven men at a time were kept on the creeks. AS these men cost the bank between four and five hundred dollars month it is not to be won iered at that the huge operating expenses put the bank $25 900 or S30O00 in the hole.
 The losses occasioned will affect most materially the miners and lab bring men on the creeks and the small depositors in town. On the creeks it is feared that operations will be seriously handicapped. al though the men can be counted on Q rise to the occasion and do the right thing That this will surely be so is exemplfied in Nels Peterson's case. Mir. Petersen, who recently took lay on 17 Goldstream, had been W Ol hlllS IOl SOlHt lllllc lllllt anu was all in "eadiness to % ahead on a large scale when the crash came lr,,i he found his "nUl, ready monrE account tied up in the bank. Explain ing the situation to his men Nels asked them what they wished to do about it. The men, with unpaid checks in their possession for the last months work, with one accord announced that they were ready to stay by him, admitting that the fault was none of his and they were ready to share the burden, knowing that when the gold was taken out they would be taken care of Such instances are indicative of the fact that the right kind of men are work ing in the Panama valley to over come any such temporary embarrass- ments as the wreck of a bank can OcCasion