The Alaska citizen., 1911-01-09
tCon.iuued from first pacel

tCon'iuued from first paeep lt Si-a 10 turn ot,. tar Htr.,~ tD the receivers or the mar~raTF office. The total of sl#l.unn is made Up gf gold dust gold coin and currency. f th.S lOney is sc'Ze! and y,T'~ To the credit of the bank here it will materially help in the adJus' mcnt of the dep2si'ors' claims. but ll~. @. nc official news h5I been received regarding it.
 A a great deal of pCssiwism eN- is'ed in regard to he probable basis of settlement of claims the commi'- tee decided tO issue statement on Saturday evening in regari ro the situation as i- appears to 'hcm a' that time. This was as follows.
 After interviewing the bank re. ceivers and getting all information possible f is our opinion that the depositors will receive not less than 6n per cent with a good chance of recover ng more of their deposits
 By the committee:
 ED r WOLCOTT.
 F. $. GORDON.
 F. W. GRIFFIN.
 "E R PEOPLES.
 w r. ROBERTSON"
 Working all day yesterday the re ceivers arrived during the afternoon at a stage of their work which ,n- ahled them 10 forecast the probable outcome, and the statement printed on the front page of this issue tells the story Both MT Mack and NIT. Hawkins state that the estimated payment of - per cent. is based on conservative figuring and they enter tain hopes of being able ID do even much better than this In The mean time. however. they call on those who owe the bank to come forward and liquidare their liabilities. as in this way the settlement with the de positors will be materially expedite ed
 On Friday morning the Citizen wired it's correspondent in Seattle in structine him 10 obtain interviews with Captain Barnct'e, ". H. Parsons and J. Albert Jackson. In the eve ming the following dispatch vas re coived in reply
 Alaska Citizen, Fairbanks.
 Captain Barnettc is in Los Angclcs Nice-Presidcnt J. Albert Jackson was seen this afternoon and he had the following 10 say. The suspension of the WashinCt0n-Alaska bank is due to the fact that Captain Banotte and myself were unable tO raise inc nee eSsary money to carry Us over the winter The bank is therefore fore ed 10 close temporarily. but il has ample securities 10 pay off every dol lar that il owes and l have no doubt that the necessary aTraugo mems will shortly be made under which the in stitution will be enabled to resume business.
 The Alaska banking business is a peculiar enc. In order to properly carry on this business it is necessary to borrow from Seattle banks In order 10 properly carry on business We must loan money to miners to operate their claims during the win ter. The loans are repaid in 2 Id dust when the cleanup is made in the spring Owing to the Climati" con ditions it is absolutely impossible for miners to harvest their gold he fore spring. And in that respect the assets of the bank cannot he available before June
 Tn order to carry Cn our business it is necessary for us to borrow money from Seattle banks and re pay il in June or early in July by gold bullion which is turned into Alaskan banks in return for loans made this year.
 However. We were unable 10 get financial assistance from Seattle or even San Francisco banks. nOtWith- standing that Captain Barnette of fered to give his personal security for the payment of the loan in addi- tion to the securities held by the Washingto ton-Alaska bank.
 While I make no predictions