Douglas Island news., 1918-11-22
ALASKA-JUNEAU
 TO ISSUE BONDS
Biz Company to Float S3,5OO,OOO to Liquidate Its m-
 debtcdness

bt President F W. Bradley Co Che Sam Francisco Examiner ou the 10th inst. win be very interesting lo- gally
 N.sba-Juucau Gold Mining Com pam, iu Che .mmcdi1c future. win put out au issue of Sg.5uU.oo0 ot first mortgage bonds such was Che announcement made yesterday by Frederick w Bradley. president ot Che company. ou bIs return from Alaska. vhcrc hc has been super yIaue affairs at Che mine and min iu tor person for quite thrcc months
 Incidentally it may be mentioned that thIs is Che first announcement rubIisbcd anywhere chat this conn rany would have recourse Go % bond f.srr t1 relieve itself of load ot rmfIur indebtedness which Che war and tac partial failure or che min t1 attain expected rccoycrics at Che estimated cost have cutailcd upon che corporation
 President Bradley spoke quite frankly yesterday concerning che situation The bonds wiu bc @ stnieh, Urst mortgage issue and t1ey win bc offered Go Jhc stock holders They win contain no cou- vcrubIc feature. as Bradley H strouelv opposed Co dilut,uE che stock iu any form.
 As to Che interest rate President, Bradley a.I yesterday that it had mot as y.. boon determined but that 10 would be sufficiently attractive '. e.ue very mu subscription Co che se. Hrrls ". said
 r lce. convinced that Che stock no.d.r win subscribe for these bands as fr. mrr.r win hc placed win te abIo to .og chat not only arc win h. aaI. tr see.Hat uo. only ar, -r. bonds m attractive investment but chat .. fn.. aH .o subscribe cy c-. indication points that che crcdit- or. win ua. over thc company About haIr million dollars Of Che ru...G. ol tIs bond issue win be sp.r. ur tre mIf and ! estimate hat tn# expenditure win place the mHIrr costs of our company wei. or a parity HItf chose 0r other con. panic. u che district The two rruHIems which confront us today orc labor conditions and finance
 eCoueerun- Che former ] believe tHat It win now b. a matter 0t only snor, Hmy tor us Go overcome che existing labor shortage iu Che Ju- ueau district
 aFurtHcrmore. believe chat Ju. rau win be ore %. rle first local. te. u NasEa fo recover from Che drain uf mon accustomed be Che war and also by Ube active competition or hr copper camps and Che ship building industry both of which pay higher wages thm a gold prop ,rJv can afford Co pay.
 "Thc men who have enlisted and arc now rrru- tbc.r country arc %. tHat scll-rc'aut class that will naturally return to Alaska after Che war .s over and resume their regular vcIl-raII employment there.
 "n fact. at Che Aiaska-Jmcau propcrty our labor conditions have steadily improved ever since ! went up there.
 .Tbr closing ot Che salmon pack iur season brought us @ welcomed additional supply ot common labor -Fuupuos. Koreans, Hawaiians. Mcxic1us and a few Chinameu.
 "Thc chief shortage. however. and we stun feel it Is ol skilled labor machine drIIor and other high class men schoolcd in Che mining in- dustry
 "Tbc A.aska-Junoau properties would oven now bc on @ paying basis if our milling costs were ou level with those which obtain at thc Alas ka-Gastineau min and on Douglas Island
 'I have Initiated changes at Che min which arc calculated ultimately to reduce our present milling cost. which has been about S1 a ton. Co e5 cents or 30 ccu,s per ton. which are che prevailing costs at ueighbor- ing mills.
 'Yau ask mc i.. tn my opinion Che government win come Co thc rc. lief ot he gold miner bv apuropriat. Ice.art.1n ! firmly believe that such action win be taken and that radustmeut win bo reached or Che bsss Of paying for gold; that l. iu Hume paper money against de. pos.u 1i gold
 "Grea. Br.tain which controls Che Icrr.st gold mines iu Che world Is already subsijizing South African gold mines by communicating sup. plies at war prices and furnishing them to thc mining companies ai prc-wlr prices
 "Ow Federal Bureau O. Mines op pointed a committee tho other day Co study Che entire subject Of gold production. aud Secretary McAdo, has. since this action. appointed ou other committee so chat two com