The Daily Alaska empire., 1931-04-10
MINE INDUSTRY OPENS DEFENSE
 AGAINST RAISE
Agents of Mining Compan- les File Protests Against
 Johnston Tax Bill

Mining is the backbone of the Territory and that industry should not now be subjected to an in- crease in the rates on the Terri tory's met income" mining sched- ule declared representatives of the Alaska Juneau Gold Mining Com- pany, the Hamm mon and Fair banks Exploration companies, and private citizens who appeared yes- terday before the House Wave and Means Committee at pu lie hearing.
 J. A. Hellenthal and L. H. Metz gar appeared for the local com pany, Judge O. D, Cochran, of Nome, for the other two corpora tions, and H. L. Faulkner also made a brief statement.
 One Real Industry
 We have only one real, hon. est-to-God industry in this Terri tory and it is the mining indus- try" declared MT. Hellenthal who opened the case for the mining op- orators with a review of the his- tory of the Alaska Juneau opera tions and developments. Mining was first started on the property 50 years ago, and about 20 years ago the modern mine was launch- ed
 A capital stock issue totaling l5000,000 was floated bonded and unbonded debts, entailed during the many years that the com- pany was carrying on it's program at a deficit, amounted to more than $3,0000o0 During the past two years, the funded debt as well as the unsecured, has been paid off. But up to this year not one penny in the form of dividends has ever been received by the stockholders. This year a four percent dividend has been listed.
 Put Money Back It is true, MT. Hellenthal said, that the company had not paid a large sum in direct taxation to the Territory, but even in the period of losses, it was contributing direct ly in other sources from which di- rect taxation was received by the government.
 It's local expenditures for labor, supplies and materials now aggre- gate almost $2,000000 annually. This supports company employees and their ia m lilies, merchants, transportation, and other local in- dustries and from all of these sources the Territory receives reve- nue.
 It has for several years sought to develop other properties all over the Territory, expending m a y thousands of dollars in this search. It has examined large number of properties and render ed a free assay service to pros pectors and is still doing these things.
 New Program Mentioned
 MT. Hellenthal d scri b ed the company's new expansion plan here. The operating profits for the past two years, he said, were suf- ficient to more than meet obliga- tions, including this years divi- dend requirements The company is expending the remainder in ex- ploratory work on other proper ties adjoining the Alaska Juneau, putting back into the ground a large part of the first earnings ever made for the holders of it's stock in order that the mine may grow and become an even more permanent and larger institution.
 He cited the narrow margin of profit per ton of ore mined and pointed out that a reduction, even slight, of the ore values, would wipe out that margin. He paid a high tribute to the Bradleys and to General Superintendent L. H | Metzgar.
 Faith 0f Bradley
 It was due entirely to the faith of F. w. Bradley in the eventual solution of the problems that the company is still operating here, he declared. At one time every en- gineer of the company, all of MT Bradley's friends and even h's own family were convinced that it would be impossible to make the property pay. They argued with him and tried to convince him that he was wasting money to continue 'He was the only man in the whole bunch who could see any hope and he stuck it out" asserted MT. Hellenthal. Shortly after thai ore sorting system was evolved anc , that with other improvements IT both the mining and milling de. partments pulled the property ou' of the hole.
 II Must Foster Mining You must foster mining ant
 not hamper it" declared MT. Hel . lenthal. You ought not to put nev , burdens on such men as the Brad
 Continued on Page Eigho