The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-05-31
GENERAL NEWS
OF INDUSTRIES

hN
Newark and PhilaGslphia. The Farm
er's Dairy Despatch, which Is composed
principally OF Scranton capitalists, Is
rapidly gaining business under man
agement Of A.. P. Bedford, through
whose efforts the company was Or
ganized, and promises to be one OF the
most valuable milk lines in the coun-
try.
President Joseph S. Harris, of the
Reading railroad, has returned to Phil.
adelphia from u trip to the coal regions,
where he went to inspect the condition
of the flooded collieries. He reported
that by the end of the week all Of them
will be pumped out. The temporary
structure to replace the wrecked Nun
cy bridge has also been completed. and
the company is about ready to resume
traffic over its own lines to Williams
port.
1t is generally understood that moth.
ing will be done toward recognizing
Reading until September or October,
by which time it is expected to have all
the rival committees harmonizad and
the way paved for a plan which will
be readily adopted by nil interests.
The directors OF the Philadelphia.
Wilmington and Baltimore Railroad
yesterday declared q semi annual cash
dividend of 3 per cent, payable on
July 2, to stockholders Of record on
May 20. This is a reduction Of ! per
cent. from the May dividend Of 1893,
which was 81 per cent.
The exports OF iron and steel from
Great Britain for the four months to
April 80 show a decided decrease. This
year the total amount was 772, 1926
tons. valued at S.. 773. 9O1, while in the
corresponding period of last year it vas
SOL, $50 tons, valued at S., SS1, S4S; the
diminution in quantity being 10 4 per
cent, and in value 16. 1 per cent, There
has been a very large loss this year in
the exports Of railroad material to the
Australian colonies, and o still larger
one in the shipments of all classes Of
iron and steel TO India, 80 that the
manufacturers are realizing the effect
OF the silver policy in the latter country.
In spite Of this decrease in exports
there has been no falling off in produc.
tion so far this year. but there is much
complaint Of low prices and increasing
stocks on hand. The imports of iron
ore have increased a little, having been
1898, 1874 tons so far this year, or more
by 3 8 per cent. than in the correspond
ing period of 1893,
President Harris, of the Reading
company, after a careful inspection of
that company's flooded collierisg, has
announced that not only was the ac-
tual damage to the various properties
inconsiderable, but that before the
close Of the present week all but three
Of the fifty-two collieries will have
been reclaimed. An extra force OF
men has been put to work pumping
out the water from the mines, and
their work has been so effective that
thirty coliieries were reported as being
on full time yesterday. The company's
loss, through inability to fill orders,
will be quite heavy. Shipments last
week aggregated only 1875, $50 tons,
against 257, 1856 tons the corresponding
week last year, a decrease of 121, 1926
tons, making the decrease for the year
800, 1903 tons.
Improvement in the anthracite
trade continues steadily, and will be
promoted by the new circular, with
its no more than reasonable increase.
If we may belieye the Stakeholder,
there is no longer any doubt that a
large number Of consumers who have
heretofore used soft coal exclusively
are nov using anthracite. The Lehigh
Valley has received several orders from
soft coal consumers this week
-one order alone a~ggregating
{, 1000 tons and the Reading
has been equally fortunate. The
Reading. however. could only
accept orders subject to delay in de-
livery, owing to it's mines being flood
ed by last weeks storm. at one time
only twelve of the colleries of the COM
pany were in operation, but strenuous
efforts were made to pump them out, "
with such success that all the mines,
with the exception Of three, have been
reclaimed and are now turning out
coal. They, moreover, are working
full time and free handed, and should
the present demand continue it is prob
able both time and number OF men will
be increased.
A circular addressed to the holders
Of the second consolidated mortgage
funded coupon bonds of 1885, income
bonds, preferred and common stock of
the New York, Lake Erie and Western
railroad issued by John King, president
of the company. in answer to many
inquiries, gives the following informa
tion concerning the plan of re-organi-
cation: Over 80 per cent. of all classes
Of securities called for in the plan have
been deposited Hereunder, and the new
bonds have been ratified by the share
holders. The new mortgage has been
executed by the company and by the
Farmers Loan and Trust company, AZ
trustees, and the same recorded. The
company has never contemplated any
modification of the terms of the circular
Of Jan. Q, 1894.
MINOR INDUSTRIAL NOTES:
Thirty of the Readings ffty-two collier.
les have resumed operations tor four DAYS
per week.
W. S. Nevins, for many years local
freight agent Of the Lehigh Valley rail-
road at Buffalo, has resigned.
The Baltimore Central Railroad com.
pany has appealed from seven land dam
age jurors charges of $500 for eleven sit
tings in u little So, 200 case.
Augustus Scheuch, foreman of the
Cranberry ~strippings Of A, Pardee g Co.,
has resigned to accept the position of
general superintendent of the s~trippinrs
Of ]. G.. Hayden g. Co. He will assume
the duties Of his new position next week.
Mutchler, Connolly s. Donnelly, Phil.
contractors, have been awarded
the contract to rebuild the break in the
canal at Easton. The contractors
have begun work with a force of 100 men.
II will require from IS. 900 to 20, 900 tons Of