The National tribune. [volume] (Washington, D.C.) 1877-1917, 1883-08-23
OUR GROWING COUNTRY.
Its Industrial. Commercial. Railroad,
and Agricultural Development.
FINANCE AND TR AIDE.
Latest Reports from Leading
Business Centres.
FINANCE AND TRADE.

OATS. 122 6ls In addition there are ., 35I acres
ofrye, ofwlleh Mer ed has p, 900 acres; Staus-
lans. 2,630; San Louis Obispo 1900 Butte, l,5G0;
Placer, 1000; Sonoma, $40. The increase of
acreage of wheat for this year, as compared
with last. Mr. Smith places at not more than 10
percent, though il has generally been estimated
as high as 20 per cent. The difference is attrib-
uted to the mistake generally made Of including
In the estimate the area Of land Summer aliowed
for next years crop, bat o. which no crop was
raised this year. The yield Of wheat is estimated
by Mr. Smith Ut 20 per cent. less than that of
last year, which we cannot helpthinking rather
TOO low, considering that last year gave by no
means full crop. There is a difference of
nearly 100000 acres between the wheat area
as estimated by Mr.. Smith and by the Grain
Exchange. Somebody has Numbered.
Pittsburg dispatch says: From present in
dications n lockout or strike of both window
glass and hollow ware blowers viii take place
next month. Work is at present suspended IN
all the fac cries for the summer, but resump-
ton should take place early in September
The manufacturers, however, insist upon a re-
duction of wages, IN some instances as high as
25 per cent, and the workmen assert that they
will strike sooner than submit 10 any reduc-
ton. The glass workers here are seeding from
the Knights OF Labor and joining the American
Flint Glass Workers Association. The Chin
ney glass blowers and pressers have already
Sunday, say they viii withdraw and enter the
new organization.
The gross earnings of the ST. Paul. Mime
sp0lis and Manitoba Railway for the last fiscal
year were So ,240, 630.25; operating expenses,
taxes, &c, S4595. 055.60; net earnings, S1645,-
57465; interest paid and accrued, 81, 264 1929.
leaving the net income, 81 3Sl, 1856; dividends
paid, s.. 724 66i; surplus 81 929. 976.5s The net
earnings after paying all fixed charges were
n Il
sold during the fiscal year l04. 235 acres of land
for $5s7.2S7.22 leaving unsold 2.S39.659 acres.
Three hundred and eighteen miles Of new main
track and sixty one miles of side track were
added during the wear, and 131 miles of main
track were relaid with steel.
Mr.. John W. Mackay, the great bonanza
millionaire, has become large stakeholder and
director in the new Postal Telegraph Company.
One million dollars has just been raised to ex-
tend the system, and TO this Mr. Mackay has
contributed largely. The Postal Company at
New York to Chicago, and this has been opened
for business only few days Mr.. Maekay, it
is understood. has pledged himself to support
the company in stretching wires to and from
every profitable point connected by Western
Union.
The convention of the Amalgamated Associa-
ton of Iron and Steel Workers. which had been
in session at Philadelphia for about two weeks,
adjourned sine die August 10th During the
sessions the association passed resolutions favor
ing protective tariff. The following officers
were elected for the ensuing year: President,
William Meihe, Pittsburg; secretary, William
Martin, Pitts5urg; treasurer James Penny,
Pittsburg, and eight vice presidents. A COM
mIttee of four were appointed to appear before
the u. S. Senate Committee in session in New
York Investigating the cause of strikes, &c.
Mr.. Henry Poor's Railroad Manual for 1888
states that the mileage of the United States at
the close OF 1882 was 1899 miles, II, 591 miles
having been constructed within the year. The
increase Of share capital and of funded and
floating indebtedness during the year was
$50 2I3,776. The total of ali liabilities at the
close of 1882 was Sc. 595 664, 359 or $6I, 42 per
mile. Gross earnings for leS2, 70,356.7l6;
net earnings s3l0.652, 81; increase gross,
So, 066, 51l; net, 50, 929, jog.
Considerable excitement was caused in the
stock market in New York August 14th, by the
announcement of the failure OF George w. Bal
lou & Co., bankers and stock brokers, of Boston
and that city. The house did large business.
II is estimated that the liabilities are between
100000 and 100000. A member of the firm
stated the trouble was only temporary, and that
everything would be Strengthened out in few
days.
a largely attended meeting Of stockholders
of the Southern New England Telephone Com
pany was held at New Haven, Conn, August
18th, at which proposition for a consolidation
OF ali the New England telephone companies
was adopted The plan is to form a new
company having a capital of $4,000, 600, of
which S3000.000 goes TO the American Bell
Telephone Company for its plant and franchises
IN Boston.
The Bureau Of Statistics Of the Treasury De-
partment reports that during the month Of
July there arrived In the customs districts of
Baltimore, Boston, Detroit, Huron, Minnesota,
New Orleans, New York, PassaInaquoddy, Phil
sdelphia, and San Francisco 56.27S passengers
Of whom s6, 220 we're immigrants. &, I69 citizens
OF the United States returned from abroad. and
3,s69 aliens not intending to remain In the
United States; total, 5000.
For three years or more capitalists have been
prospecting for coal oil in the vicinity of Canon
City, Col, but with an Indifferent result. On
Thursday night, August 10th, vein was struck
in the Land Investment Company's well which
has since yielded, at the rate Of forty barrels
per day, oil of excellent quality, demonstrating
TO certainty that coal oil exists in paying
quantities in that vicinity.
A dispatch from San Francisco says the an
nounccment that Mr. Mackay has taken so
prominent an interest in the Postal Telegraph
Company, aud has induced Mr. Fair to join
forces with him, cEcites considerable surprise
1t is said that both of them have their hands
full Of business on the Pacific coast, and that
II Is not probable they would enter into any
financial scheme they could not fully control
The railroad passenger war between
Chicago and 81. Louis ended on the 10th inst,
and the three roads competing for the bust
ness tine Illinois Central, Wabash. and Chicago
and Alton, decided to form a passenger pool.
the details Of which have not yet been made
public. The rate agreed upon between the two
cities is $50. The rate between st. Louis and
Kansas City VIII be $3.50.
The National telegraph Company was incor-
poratcd at Albany. n. Y, on Monday The
capital stock is fixed at sos 600, with provis-
ion that il may be increased TO $4,000, 0e0.
The stockholders are Calvin s. Brice, Lima,
Ohio, Frank L. Worcester, Brooklyn, and Jno.
Simpson, Herbert l.. Terrell, Walter Kotte,
and James z. Childs, New York.
The first meeting OF the stockholders of the
Northern Pacific Express Company was held
IN New York on Thursday. The following
were elected directors: Thomas T. Oakes, Fred
erick Billings Ashbel II Barney, BENJAMIN p.
Cheney, and Edward d. Adams. s9he directors
elected Thomas i. Cakes president.
J. Il. Moore, the Philadelphia manager of the
Underwater Pipe Company, states that there is
no truth in the report that the Standard Oil
Company has obtained control of the Tidewa-
Ter line Gnd that there is not the slightest
prospect OF change in the management of the
Underwater lire.
The Charleston Nezrs and lo,fr;er rnbiisl,es