The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1951-02-01
ALC0A REPLIES TO
CHAMBER; BANKERS
ARE GUESTS TODAY

Members of the Alaska Bankers
Association and visiting stateside
representative were guests at the
Juneau Chamber of Commerce
LUNCHEON at the Baranof Hotel this
noon.
Elmer Rasmussen, President OF
ABA. outlined the values OF the
Association as fellowships, getting
understanding of problems. ex-
change of ideas and mentioned leg
islation. 1T is not coincidence
that we are meeting here at TINS
time" he said. Rasmussen then IN
troduced visiting bankers.
N. S. Penrose of the Seattle Loan
Agency of the RFC gave short
talk on the relationship OF his
agency with banks.
A letter from the Aluminium Com
pany of America was read.
Tax incentive legislation would
enhance the chances OF the Alumni
mum Company of Americas pro-
posed huge hyroelectric project at
Taiya. I. w. Wilson, senior vice
president of the company, indicated
in a letter to the Juneau Chamber
of Commerce. The letter dated JAZZ
uary Is read:
we very much appreciate your
having written as you did on jan
uary 16. We are as exercised as you
are over the possible adverse effect
on our proposed aluminium project
near Skagway Alaska, of the pro-
posed Canadian development at
Kitimat, B. G..
"As you are undoubtedly aware,
the Kitimat project is that of the
Aluminium Company of Canada and
there is no connection whatsoever
between that company and the
Aluminium Company of America
Therefore, except as Canadian gov
ernmental cooperation would be
needed for our Alaskan project
there is no reason from our point
of view why the Alaskan project
should be denied every reasonable
consideration by all interested gov
eminent agencies and representa-
tives.
AStOniShment
I'VE we're astounded when news
paper reports indicated that pos
siply some of our government repre-
sentatives were giving considera'
ton to long term contract for the
purchase of aluminum from the
Aluminium &C. OF Canada which
would have the effect, whether OF
not it was the intent, of putting
the Canadian company in better
financial position to undertake
their Kitimat development. We have
been told that such newspaper re-
ports had no Justification, and as
nearly as we can determine, it is
quite improbable that any direct or
other character will be given to
the Aluminium Co. of Canada by
our government.
I'VE are continuing in our efforts
to have our proper governmental
agencies understand and appreciate
the opportunities presented by our
proposed project in Alaska but find
certain understandable hesitancy on
their part to approve this projece
at this time because of two factors
the first being the geographic loca-
ton with all that entails, and Sec
ond, the length of time required to
obtain aluminium production from
this project. I can only assure you
that our interest in this project is d
continuing one.
Tax Problems
when we are in position to
actively proceed with this Alaskan
project, many factors will have to
receive careful consideration and it
would be most helpful if we could
be assured of an understanding ap-
proach to what would be our tax
problems. We are, therefore, very
interested in what you have to say
in regard to proposed legislation