The Alaska daily empire., 1922-08-12

ting back to a basis more nearly IN
accord with the lower prices; third,
the money market is easing up and
capital in larger volumes is seeking
investment. When gilt-edge short
term loans in the States are yield
ing rates of s per cent or better
it is difficult to secure capital at
the low rates and in the great VOL
ume necessary TO establish a ire
mendous industry such as the pro
duction of ncwsprint on a economic
basis in this region.
Meanwhile the various activities
in Alaska are going ahead WIN
every indication of bona fide lnteh-
items to establish the Industry IN
this region as soon as market con-
ditions make il possible to manu-
facture print paper in the Terri Tory
and sell ii in the States at profit
The Alaska Pulp & Paper Company
has not been operating the Port
Snettisham plant The price OF pulp
has been so dow that the company
claims it cannot operate at prollt'
par-ticularly in the Wow OF the pre-
yailing freight rates. However, IL
has an excellent location and prefer
ential rights to exceedingly deSlr
able waiter powers, which no DOUBT
will be able to attract capital suffl-
ficnt to establish large paper mlll'
which under normal conditions should
prove a financial success. The manu-
facture and shipment of pulp alone
NO the States cannot be expected 10
proye a successful financial venture
except under extraordinary market
conditions
Some Of Negotiations
.'The Alaska American Paper Cor
poration which year ago was award
cd a conditional contract Tor a large
body of timber in the vicinity OF
Shrimp Bay. not far from kctcm-
kan. has met with disappointment
owing. I understand, TO the death of
one of their original Financial BACK
crs. On July l, this company re-
ouested the Washington office Tor
an extension of 80 days in which TO
submit a satisfactory financial state
ment, which their representative
claimed they would be able to do
within that period. Their request
was granted before ! loft Washlng-
ton and, although | have no adviccs
from the office on this point,
assume that a satisfactory showing
has been made or will be made Wlh-
in the near future.
"Thcre have been no other Definite
applications for timber on the oasis
of which advertis for sales 10
numerous filings or applications Tor
pulp and paper manufacturers cou-d
be begun There have, however peeh
water-power permits, with the manu-,
facfure of pulp and paper alleged
as the prospective use OF the power
These filings include those TOR the
powers centerlng on Bradfield Canal
and one on Cascade Creek tIhomas
Bay) by San Francisco man. which
seemed to have some degree OF
promise behind it. The Admiralty
island project, involving the use OF
the already developed power OF the
Alaska Gastineau Mining Company
is auiescent, and we have hearo
nothing during the last few months
from Mr.. Weston and the others
who were promoting this project.
Rush Timber Cruising
meanwhile we have been pushing
our timber cruising and our power
examinations Last season the
cruising parties finished up the area
On Pert Snortisham, which had TO
he cruised in connection with the
Alaska Pulp & Paper Company's
sale. finished up tho cruising OF the
area involved in the Shrimp Bay
case. where they found considerable
timber at the head OF Orchard Lake
md on The streams running INTO
Shrimp Bay not included in the pre-
v'ous timber survey work done in
the region, and finished the cruising
of the shores OF Carroll Inlet. rms
last project was the big one ana
puts us in a position to furnlsh au-
thoritative data and to make definite
propositions to anyone who is pre-
pared to use the Swan Lake Carroll
Inlet) or Fish Creek (Thorn ARM
W lterlpower sites. or both in COM
t'nation. During the summer OF
1922 the chief job is to cruise an
area tributary 10 the Bradfield Canal
rover sites, which have been ap-
piled for (permit only by the Min
eral Products Company, alleged to
be a subsidiary OF the Guggenheim
interests. This work is now under
way.
1.-The next job in order would prob
ably be TO cruise timber to go with
The development of Cascade Creek