Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-03-30
FINANCIAL,

Scales az the Coracana Cotton Oil com
pauy of Corsicann, Tex, have purchased
ground and commenced the construG
ton Of three cotton seed OIL mills as iol-
lows. One az Ennis. Tex with o capn-
city Of seventy-fiye tons daily; one az
Aiexia of the sume capacity, and OH ~
Temple Of l25 tons daily capacity. All
the buildings will Dc OF brick and stOnef
ana The very latest and best Improved
machinery ana appliances viii be used
throughout the different plants. Buiid-
ing material has been contracted for ~
the three points, and active work VIII
be begun as soon as the mnterni can
be placed on the ground. Nh. Culbcrson
IS now visiting the different makers Of
oil-mill machinery for the purpose OF
letting contracts. The plants will be
built in accordance with insurance COM
pauies' plans and specifications.
Messrs. Swift & Go of Chicago and
Nelson Morris X Co Of the same city,
have purchased ample grounds at liOus-
tom Heights. near the Missouri k0nsas
and Texas tracks nc Houston. Texa ana
viii at once commence the construction
of 100000 brick cotton seed oil mills
which they will operate during the com
ing season. This plant will be one Of
three to be erected by the same company,
the othcrs to be located, respectively, at
Little Rock, Ark. and Waco, Tex. The
mnin building here will be two stories
high and J0xiOO feet The cotton press
room will be 20x2O feet two stories
high The mealhOuse viii be OOXl20
feet the boiler house 4ONi2 feet and
the gin house 20N3O feet each Of one
story. There viii he two seed houses,
each S0x2JO feet. and the hull, house
win hc SOx2O0 feet -Four from tanks
contain 900 barrels Of OIL From 80 TO
100 men win be- employed The Con-
sumers OH company of Chicago. Which
is composed of the above named firms,
intends to utilize all the hulls aud cot
ton seed meal for feeding cattle at it's
Morris ranch, and the oil will be shipped
in q crude state TO the reiine1cs nt
Chicago and Kansas City. where Il will
be made into compound lard.
The charter Of the New Braunfels cot
ton seed oil mill was received Inst week
The capital stock Is 100000, divided
into 1910 shares Of 500 each md the
capacity of TIE mills Is forty tons pur day.
The machinery, all of the latest and most
building will commence at once. The
directors for the ensuing year are Joseph,
Peter and John Faust, H. Dilingcr, II.
Bmnbcrg, T. RcnarZ, George Knooke,
John Al0rbach and IT, Helm. The char
ter runs fifty years.
dizzy & Smith have closed the
contract at san Murcos. Tex,
for site on which to erect n $4,000
cotton eeod-oil mill, and the
joint atock company which was to erect
a $4,000 cotton seed-oil min viii erect a
compress instead.
The contract for "a concrete foundation
for the new oil mill nc Bryan. Tex. has
been let 10 u NJ. Brown The buildings
which will be erected by j. B. Conway,
are to be brick.
The Citizens Electric Power and Street
Railway cOmpnny of san Antonio has
been Incorporated 10y A. II. billiard, &.
d. Harris, T. G. Dow aud others The
capital stock is 100000.
The city Of Waco LAS sold $4,000 Of
bonds 10 Furson, Leach & Co. Of New
York city. These bonds are for the re
demtaion of Waco and Northwestern
subsidy bonds, which recently became
due.
John O.. James Of Austin and associates
WILL 10 Is stated. establish national
bank IN Hampstead about April 1 with
capital stock Of $4,000
Tho Merchants aud Farmers National
bank of Wcatherford has increased It's
capital stock from 100000 to Sl5o,oOo.
Tie Gulf Colorado and Santa Fe
Railroad company office Galveston
WILL 1t is stated, extend its road from
SAN Angelo TO Pecos City, u distance Of
100 miles.
About 5000 persons In Englewood
H., and the vicinity who had In tL@r
possession the little .niclile,plated branch
savings banks of William @. Williams q
! Co., have just found that the scheme to
which they subscribed with the hope and
| promise Of 4 per cent returns Is, so far at
/ least a failure. The two savings banks
| In which they were interested have gone
| TO the wall. They yet have their savings,
| but tfey win not get their 4 per ceut
! interest.
In the Illustration OF thier hopes lies
! also the fnilure of n novel system of
! banking
About Jan. 1 fifteen or twenty Agents
were put in the field. The patented de
! vice OF the company then made its mp
| pearuce. This Is metal bank about
! eight inches, square, The upper portion,
surmounting a square base, Is u dome or
bee-hiyed shaped section that revolves
upon the base. At the four upper cor
ncrs Of the square base are apertures for
money
The agents asked permission to leave
the branch boxes In the homes of work.
man, with children, in factories and
wherever the spirit of saving could be
found. Tie agent guaranteed per cent
upon the Investment or deposit lie took
the key with him and when the project
was finally inauguated he was to call
once month to collect the savings. Ii
began az once 10 draw per cent interest.
Before the first collection was made from
the 5000 banks already out In the city
the crush came, and il IN this that has
blocked the entire project.
CLEWs ON THE SITUATION.
New York. March 25.--In his financial
review Of the week Henry Clews says.
/ In tho Wall street iunrk,.fg fber, ia.