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The Daily Alaska Empire
Juneau, Juneau County, Alaska
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No bids submitted for Alaska-Asiatic Lumber Mill auction in Wrangell due to maritime strike, lack of U.S. Army lumber purchases, and regional mill closures. Receiver Col. Ohlson reports to court in Juneau, recommends preserving property intact for future operations; former owner F. E. Wagner may regain control.
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No bids were submitted at the receiver's sale of the Alaska-Asiatic Lumber Mill at Wrangell. The bids were to have been opened on Wednesday morning at Wrangell.
Col. Otto F. Ohlson, receiver of the property, arrived in Juneau yesterday to report to the U. S. District Court.
Col. Ohlson said today, "It is true that the present situation doesn't look good because of the maritime strike and the fact that the U. S. Army isn't purchasing any lumber and won't be for the next few months." In addition to the economic instability, the fact that all of the larger sawmills, except one, in Southeast Alaska are closed down, was a contributing factor in no bids being submitted, Ohlson said.
Ohlson stated today that in giving his report to the court he will recommend that no single part of the mill equipment be disposed of to anyone, as it is essential that the property be held intact for the benefit of purchasers interested in operating a mill at a future time.
Ohlson will recommend to the court that the property be turned over to the mortgagees. He said that there is a possibility that the former owner, F. E. Wagner, will be able to secure adequate capital to enable him to regain control of the property again.
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Wrangell, Alaska; Juneau, Alaska
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No bids were submitted at the receiver's sale of the Alaska-Asiatic Lumber Mill at Wrangell due to the maritime strike, U.S. Army not purchasing lumber, and closure of larger sawmills in Southeast Alaska. Col. Ohlson recommends keeping the mill equipment intact and turning the property over to mortgagees, with possibility that former owner F. E. Wagner can regain control.