The Wrangell sentinel., 1949-07-29
THROUGH
THE SENTINEL
PERTSCOPE

In comparison with the state Of
Washington, and a good many
other states for that matter, the
Territorys much discussed finan-
cial situation isn't as bad as ii
sometimes sounds Down in Wash
ington state, they find themselves
in the red about sixty million dol
lars and reports indicate that Gov
Arthur B. Langlie probably will
call a special session of the Legis-
lature this fall or winter to try
and find a solution Washington
already has a sales tax, a property
tax and many other kinds of taxes
that the Territory has not yet
found necessary. 1t has to find new
sources of revenue or boost the ante
on the existing sources. Alaska, on
the other hand, has tapped the
sources for sufficient income but
finds itself temporarily embarrassed
because of court action over GER
tain provisions of the new tax laws
With the income tax law held valid,
money is now coming in at a good
rate to the tax collector but it
takes a little time. Aside from spe-
cial funds, the Territory's estimated
revenue for the next six months
including next January is $4,296,-
600. This doesn't include about
100000 which might come in
from the fish trap tax if a court
decision is favorable. Against the
four million plus, the Territory
owes about a million and a quarter
in unpaid bills against the general
fund and Territorial Treasurer
Henry Roden estimates the oper-
ating expenses for the next six
months at $1,O5O,OOO. Therefore,
come the end of January and the
Territory's general fund should be
million or so to the good. OF
course, this is on the premise that
the Board of Administration will
not thaw out any of the approx
mately five and a half million it
tied up in the recent big freeze.
This the Board by resolution has
agreed TO. IT is the premise on
which Treasurer Roden is now
going to the banks with the pro-
position that the banks take gem
eral fund warrants at face value
until enough money comes into the
treasury to meet them which, he
anticipates, will not be later than
January. In fact, he's set January
20, 1950,as the date he'll be able
to meet all obligations the banks
may hold in warrants. Treasurer
Roden summed it up in few
words the other day before he took
off to talk to Seattle banks on his
proposal:
This situation Is temporary
only; there is enough revenue In
sight to pay all debts of the Ter
ritory If the resolution of the
Board of Administration is adhered
to, and this will be done without
doubt"
Meanwhile. Earl Cleveland, Vice
President and Cashier of Juneau's
First National was budding with
Territorial bankers to try and work
out what the Treasurer refers to as
the mechanics" of the proposition
1t begins to look as if the dear
old general fund has survived the
hurricane and that a special SEES
sion of the Legislature next winter
will not be necessary.
$50 + -
Speaking of banks and bankers,
the sudden death of Harry I. Lucas
in Juneau last Sunday takes from
the Alaska scene a man long con-
nected with Alaska banking For
years Harry was associated with
the pioneer B. M. Behrends bank
in Juneau. He served the Territory
many times as bank examiner
When the Federal Housing Admin
ot"at'on was first set up in the
Territory, Harry became associated
with FILA, later going back to
Behrends bank when FILA was cut
to a dribble. Last year when FILA
again became more active. it was
Harry Lucas who was prevailed
upon to take over. He headed the
organization at the time of his
passing. His private interests in
cluded the Juneau Cold Storage
and the Assembly Apartments in
that city, both of which he helped
establish. He served seven times
as Mayor of the Capital city, and
was one of the best the old Joe
Juneau-Dick Harris town ever had.
One of Alaska's Mol citizens has
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