The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-05-21
GENERAL NEWS
Of INDUSTRIES s

The Olcott plan for Rss ling re-or.
ganiZation proposes that dissatisfied
bondholiers should require. first. the
payment Of their interest In full, with
interest on their coupons; second, IL the
stockholders and other junior security
holders do not arrange TO pay such 10
tsrest, then that the committee will be
prepared 10 reorGanizs the property
The committee ask that parties inter-
ested sign the bondholders' agreement
and return il to the Central Trust
company. New York. Tue committee
adds: We are aware that the e1ecu-
tion Of these purposes may necss,i.ate
the foreclosure Of the general mort
gage. The obstacles in the way Of
which have been fully considered. aud
are convinced. difficulties in the way
Of foreclosure of the general mort
gage and reorganization thereafter
are exaggerated; that II any damage il
wrought by such foreclosure it will
fall upon the junior security holders
and not upon Us.
=
anthracite trade is at present fully
holding its own. The output is in the
neizhborhood Of one-nslf OF the maxi
mum capacity. and all that Is mined
goes at once into consumption, Their
10 no disposition 10 rush coal TO the
west for stocking purposes. in view OF
ths fact that later shipments could un-
doubtedly be made at larger profit to
the mining and carrying companies.
Ia the last ak months OF the presen,
year the anthracite coal railroads will
maze a much more favorable comptri.
Eon with the 1898 period. because in the
first six months Of that year the largest
halt years business in the history of
the trade was done.
A company Of Philadelphia capital
i-is, including Edward Rob.rta. sr.,
W. A Ingham. E. Lewis. Perciva,
Roberts, J. W. Woolston. ". Long
sireth and Gordon Wilson. nccomptL.
id by TorbetI Cornell have just com
pls,ed tour Of inspection among asv-
tral coal properties in the vicinity Of
H-zleton. 1t is intimated that i'm
portant negotiations are pending,
The shipments from the mines Of to.
Cam mberlsnd coal regions for the week
ended Saturday. May l2, were AZ. 392
tons, and the total shipments for lnp
year 10 that date 1928, OO7 tons, a de-
crease Of 1871 l76 tons. as compared
with the corresponding perio1 Of 1893.
The Stroudsburg station OF the new
Wilkes-Barrs and Eastern railroad will
be built on the southeast corner Of the
Storm property. II will be buAt 81
frame and Ia one story high, with
pretty tower, thirty-fve feet high, in
the center The main depot will BE- 20x
"a feet A platform sight feet high
will run all around tho structur,. 4.
Steam heat will be used, the apparatus
being 10 the cellar.
The statement Of shipments OF an
thracits coal for the week ended May
10. az compiled by the Bureau Of An
thracite Coal Statistics. shows an in
crease for the week OF 72,280 tons, OF
which $3.50 tons came from the
6chuylkill region. The decrease for
the year to date is 3,O44, ,8l9 tons, Wyo-
ming, 1885 tons; Lehigb, 147474
tons; Sshuylkill, 233.G05 tons. The
stock Of coal on hand at tidewater ship
ping points, April 30. 1894, was $40, 207
tons; March 81, 1894, 934, 1858 tons; de-
crease. e5,156 TONS
The new Palisades tunnel was for.
mally opened Friday. The tunnel,
with an exit on the Hudson near Edge
water. is nearly 5000 feet long, wide
enough for double track and cost
90, 500. 900. The spur from the main
line Is nearly mile. The company
will use the tunnel as an outlet for Its
coat traffic. which amounts to nearly
three million tons annually. Passen-
yer trains will be run on the Wilkes
Barre and Eastern extension early in
June.
II IL nearly twenty-one years ago,
says the Wilkes Barre Record. since
the forty-sight houses and the store
that form the principal part OF tht
pretty little village Of Hanover station
were erected by the Lehigh and Sus-
qusnanna Coal company. which then
operated an extensive breaker, which
was subsequently burned down and the
mine abandoned. The houses were
then leased by the Lehigh and Wilkes.
Barre Coal company. which for sixteen
yenrs held the lease and rented them
to itB employees. Two years ago the
Delaware, Lackawanna and Western
Coal company began the sinking oi
two shafts, which are still In operation
and will take several months to com
plete to the lower measures. This
breaker has been staked out and new
mining town will be the result Both