The Daily Alaska empire., 1933-10-30
GOLD MINERS COMMENT.

In the current issue of the Engineering an Mining Journal are two short statements on tf gold ruling of President Roosevelt and the futul of gold mining. One is from Edward H. Guar President of the Homestake Mining Company an the other by P R. Bradley, President of the Alask Juneau Gold Mining Company
 MT. Clark said:
 Emnently fair is the so-caled gold ruling" issued by President Roosevelt on August 29. There has been every reason why gold should participate in any enhance ment of value that changing economic con- ditions might bring about for metals and E minerals in general.
 One result of the ruling should be to stimulate the search for new gold properties in the United States and its dependencies. Indeed this stimulus is already apparent, to judge from the large number of gold mining enterprises that seeking financial back ing The gold output of the United States, now less than 100000 ounces monthly, should see an increase. There have been large number of marginal properties at S2067 an ounce that will now be able to contribute to the production total provided they can raise the necessary capital On this latter account investors will be cautious.
 The same cautious vein is apparent in M Bradleys statement, which follows
 The present market price for gold is analogous in many respects to 24-cent cop- per. Those who s-start, new gold mining ventures based on today's gold price may find themselves in the position as those who started copper mining ventures based on 24-cent pound copper. The same analogy holds for stock values-24-cent cop per does not mean that every pound o1 copper in given mine will bring "A cents, nor does S29 gold mean that every ounce of gold in given mine will bring $29 to the operating company.
 In terms of dollar, gold is bringing a most attractive price, and this fact in itself will direct much attention to gold mining. However, the future IS full o1 un- certainties such as increased taxation, in- creased costs of production, the time element and further acts of expediency and necessity by the Administration Furthermore, the present gold market is outcome of the effort made to restore normal economic order and once this order is restored, 1t seems a fair assumption that the dollar will again be at par and gold at $2O67.
 Activity will be stimulated in gold mining, but prudent investors will hesitate to take definite action based on an indefinite stua- tion I think the real benefit that will accrue to the gold mining industry from the present situation will be the increased interest that will endure and be effective after present conditions have passed.
 Since these statements were made public, Pre- dent Roosevelt has taken another step that gl' the gold mining industry even greater benefits tn the original ruling on which they were based. the time they written, the gold miner in orc to reap the added profits from his operations, h. to sell his gold abroad which cost him not inco siderable sum for shipping expenses and in change. Today. with the Government buying new mined gold at price above that offered on forei exchanges the gold miner is freed from the expe diture and knows from day to day just what product is worth. How long this market will co tinue is of course. matter for speculation. Sta ilization of currency may occur within the next { months, or year When that occurs, ge will also be stabilized, but it doesn't seem likt that it will return even then to the old $20 figure