The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-06-02
GENERAL NEWS
OF INDUSTRIES

tered into between the LenlKn NalleV
Railroad company and Coke Bros, u
Co. owners OF the Delaware. Susque-
hanna and Schuylkill railroad. This
contract, it will be remembered, pro-
yides that the latter shall have the use
of the formers tracks from u connec.
ton with the Delaware, Susquehanna
and Schulkill to tidewatsr, for the
shipment of anthracite coal. Coke
Bros, & Co. provide their own equip
ment and motive power and train
crews, but are subject to Lehigh VAL
ley general orders as to running Of the
trains,
Evidently a hitch has arisen in the
proposed plan of Reading reorganizl-
ton, is this statement by an Olcott
committeeman is to be relied upon:
There is no prospect Of an immediate
reorganization. W. have advanced
money to the Reading receivers and
will advance more as it is needed to
care for the floating debt. The times
IRE not favorable to raising money by
assessments or by guarantee syndl-
Gates, and for that reason reorganiza'
lion plans are apt to be delayed.
1t is fair TO junior security hold
rrs to do this. The Philadelphia talk
of q syndicate furnishing $50, OOO, wv IS
rubbish. All interests nave talked
over the situation, and when the time
comes for a reorganization plan one
will be announced. SO far nothing
has been agreed upon in detail. l
think the Philads lphiG story Of no as
Ressment and a speedy plan was a stock
iobbing story, for it certainly had no
foundation In fact. rs far a5 a voting
trust. the . 1000, 900 syndicate and no
assessment Wsre concerned, ut least.
The Lshigh and WilIes-Blrro Gal
company has decided to reopsn the old
No. 1 Honey Brook mine. Contractors
will start work with 100 men, ana will
increase the force as the work pro-
crosses. at Beaver Meadows S. Van
wjckle has decided to strip the vein at
Colsruiue collery. The Delaware, Sus.
quehanna and Scbuylkill r lilrold COM
pany is preparing to double the capa-
city OF its yards. and arrangements are
being made whereby tle company will
be enabled to Stock Its coal during the
dull season. These yards will, it ia said,
have a storage capacity Of 100, 900 tons.
Large contracts were awarded by tho
coal operators recently: To N, j. Cuyle
& Co., by Coke Bros q Co, contracts
Tor stripping 2j0, 90 CUBIC yards Of sur
lace from the JO.soot coal vein at Eek
'ey No. /. The same company awarded
~ G +. King & Co.. The contract for
exc waiting 200, 900 cubic yards OF sur
face everything the vein at Old Blck
Mountain. The colliery was abau-
doned forty years ago. At Honey
Brook the LeHigh g. Wilkes.Barre
awarded to Crawford 81 Dlgsn tho
contract OF uncovering the Old Bull
Run mine. Wilkes Barre Record.
A Lebanon dispatch says: II is
probable that q share of the Cornwall
ore banks is worth more than a share
Of any other institution in the country,
as was demonstrated a few days ago.
The agree ment between the Pennsyl.
vania company for assurances on lives
and granting annuties, Of Pbiladel-
rbia, and H. T. Kendall, assignee of
Robert II, Coleman, and the Lacka.
wanna Iron and Steel company, of
Scranton. was confirmed by the
court Then len shares Of the ninety.
six shares in the famous Cornwall
ore banks, which were soil hy Mr..
Coleman, were rated at $l35, 900 q
share, or ST. $50, 600 for the ten. Five
and i~vs-sishtns shares Of the banks
were named in another lot, and each
ahare was put at $135 900, making
$3.50, 375 FOR them. The two Colebrook
furnaces, including dwellings and
ninety six acres OF land. and personal
property, was designated $780, 900. Two
Cornwall anthracite furnaces, tone.
ments end $50 acres OF land, 500, coo.
also {, 1905 shares of the Cornwall and
Lebanon Railroad company, Mt $3l. rs
per share, 1919. 26j 80, making the total
purchase money 50. 500, 375. The real
estate is snbject to mortgages as fol-
lows: One for / 800. 900, one fol
$500. 900, one for $3.50. 900, one for $62.
500; total. $2,212,5 500
Deeds of conveyance are to be pre-
pared for execution within thirty days.
The Lackawaua Iron company assumes
all mortgages and pays the principa
and interest. The agreement is signed
by Il. N. Paul, president of the com
pany; Henry I. Kendall, assignee o.
II. H. Coleman, and Walter Scranton
president of LackawGnna Iron ant
Steel compBny. Judge Nelly has con.
6rmed the sale.
Charles Law. of Pittston, writes t.
the New York Tribune that the Goa,
famine II the east could in some meas
urs be mitigated by the large consul
mers mixing two tons OF anthraci,,
coal with ons ton of bltuminous coal
and burning the mixed fuel, and it viii
need no change in tho CRATES. In fact
the mixture up 10 rs PER cent. of bit
luminous will give much better resul t
than either burned separately. Thi
has been demonstrated by experiment
and it has the further advantage o
having no smoke, as the hydrogen il
the anthracite consumes the extra car
bon that in bituminous passes off il
the form Of smoke. Any fine sizs 0
anthracite will do, from fine buck
wheat up to chestnut sizes.
The feature to railway earnings re
ported the present week is the Burlinl
ton statement for April, aud the feat
nre to the latter is an extraordinary re
duction in expenses. 500. 709 The de
crease in gross was $494. 752, the in
crease in net $115, 056 As charges TO
tho month decreased $22.SSO there wa
an increase, according t. thu ofieia
Il -sa, - 400 Dn4 1 Al
surplus.
MINOR INDUSTRIAL NoTEs:
1t costs the Jersey Central 81 cents t
paint each of Its box cars.
The railroads Of the United States Civ
employment to 500, coo men.
The Tresckow coal washery will resum,
operations on Monday next.
The Delaware and Hudson has declares
the regular quarterly dividend OF ia pc