The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-11-10
Industrial and Commercial.
NINE, MILL AND RAILROAD.

NINE, MILL AND RAILROAD. !
r. G. Dun & Co.'S weekly review of
trade says: Business has been waiting |
and the greater part of the past week, |
and the elections are expected to give
1t sharp stimulus. Whether men are
right or wrong in expecting better
things, the fact that they expect them
does tend to make things better. Thus
q large volume of trade might be an
ticipated, although no political events
can alter the size of the corn crop, nor
make the demand for wheat or cotton
closer to the supply. In the specula-
tive markets there has been scarcely
any movement, and nothing favorable
to holders. Stocks were a shade strong
er the day after the election, but the
strength did not seem of an enduring
kind. The average of railroad stocks
at the close Is barely $1.22 higher than
q week ago, and of trust stocks $l.SS
higher. The truth is that the disposi-
tion to realize on every small advance
Is constantly encouraged by the un-
satisfactory reports of earnings, which
for the month of October were 38 per
cent. smaller than last year, and 8.S per
cent. smaller than In October, 1892. The
break in the coal stocks has not been
repaired and 1t is believed that the
coal carrying roads will have to sacri-
flee a considerable part Of their past
profits. The output of pig iron was
larger by 1871 tons Nov. l, when it was
1886 tons weekly, than 1t was Oct. !,
and larger than year ago, but 1t Is
still about 13 per cent. below the out
put last May before the great depres-
sion began. Reports of failures are on
the whole, encouraging in comparison
with last year. and yet the volume of
liabilities is larger for the season tnan
in any year of ordinary prosperity. The
failures during the past week have
been 261 in the United States, against
1858 last year; and AZ in Canada, against
81 last year. There have been a few
failures of consequence during the
week, but none of extensive influence.
The Silver Brook Coal company Is
about to establish a shipping office at
the No. 2 colliery Since the plant was
first placed in operation all the coal has
been billed for transportation at No. l
colliery, where the pay Office and ship
ping apartments are combined. This,
as the Hazleton Standard explains, in
conveniences the Philadelphia and
Reading crews to a great extent, for
they are compelled to run from No. 2
to No. colliery, distance of mile,
in order to obtain the bills for any con-
signment Of coal no matter how meagre.
The Hazleton Standard is confirmed
in its belief that the Jersey Central
contemplates an extension of its line
from Tamanend to Silver Brook. 1t
says: "A line was surveyed between
these two places some time ago, which
did not altogether meet the approval
of the officials, who were inclined to
believe that the grade could be reduced.
With this object in view corps of sur
veyors were ordered out upon the pro-
posed line Thursday morning, com
mencing their survey from a point
south of Tamanend. This seems sub
statial evidence that the Jersey Cen
tral means business. 1t has been n
point Of argument for years that If the
Central owned its own road from
Mauch Chunk to Audenried It would
have entered the prosperous city of
Hazleton and probably continued its
line to point between Pe;ln Haven and
White Haven and formed connection
with its main line from New York to
the rich Wyoming valley. 1t is an un-
deniable fact that this company has as
sumed and developed enterprising plans
in the past few years, and the extension
of its road as noted above, even at this
late day, is not out Of the range of pos
sibilities."
The gossips do not like to surrender
Mcleod. One of them last Thursday
revived the rumor that he would soon
be offered the presidency of the Lehigh
Valley railroad. This story has been
repeatedly and positively denied from
sources of reliable information, but
its temperance, nevertheless, Great
ed no little interest in local
financial and railroad circles. AS
dation for the report is the fact that q
certain party in Philadelphia, who rep
resents some large interests In the road
intends calling upon Mr.. Mcleod and
discussing Lehigh Valley affairs, with
view, II arrangements can be made
of running" him for the presidency al
the annual meeting in. January. Should
Mr. Mcleod consent to be candidate
there will be opposition in the field
against him. and that, too, in addition
to President Wilbur, as 1t is claimed
that the presidency Of the Lehigh Valley
has been offered to we'll known gen.
tleman Of Philadelphia, by some said
to be John Wanamaker, who Is regard.
ed as Indifferent or hostile to interests
with which Mr. Mcleod has beer
identified in the past.
The presidents of the leading bank.
in Gotham have of late discussed in
formally the necessity for and the wis
dom Of reducing the rate of interest,"
allowed by them on out-of-town banl
balances on account of the plethora OF
money at that center and the lack o.
demand for 1t either by out-of-towr
correspondents or city dealers. 1t Il
likely that early next week an arrange
ment viii be made to reduce the rat,
from ~ and per cent, the prevailing