The herald., 1897-05-08

CAltVu otdtcS. ne report States tndl
accurate statistics are unobtainable, but
that while white pine will be cut in the
United States for many decades, own
ers of the stumpage control their hold
ings, and the enormous amounts which
hitherto have been cut annually cannot
be had beyond the next five or six years,
even with Canada to eke out our def
ciencies. 1t is said that since 1873 there
has been cut in Michigan, Wisconsin and
Minnesota 154.0OO,000,00O feet, board
measure, and SO. .0O0 600. 900 shingles, and
In the whole country the equivalent OF
200, ,000000,000 feet, board measure, in
eighteen years. The wood pulp industry
now consumes S0O000,000 feet of pine,
spruce and hemlock annually. The av-
efage annual consumption Of the timber
Is 10000, 100000 feet, and there Is left
standing in the northern states, 1t is es-
tmated, 100,00000,000 feet coniferous
growth, divided as follows: Minnesota,
&C, 900, 900, 900; Wisconsin, 10000, O0O, 900;
Michigan, $4,000, 900; Pennsylvania,
10000. 100000; New York, $4,000, 900 900,
and the remainder among other states.
There is standing in Canada $1,000, 900,
900 feet of white pine, and the annual con-
sumption is 1000, 100000
Mayor Josiah Quincy of Boston, Mass.
at hearing of the committee on Metro
politan affairs and street railways on the
proposed amendment of the Boston Ele-
waited Railway compapy's charter, spoke
at considerable length on the fundamen-
tai points of the street railway problem.
He said he believed in municipal own
ership of street railways but not in
municipal operation. The city should re-
tain the fee, and let out the operation.
All property of the railroads, he held,
| should be subject to the right of eminent
domain, and he believed the West En1
Street railway could be taken in this
way. It's capital stock and market value
with that of the elevated road would
make the cost of it to the city $45, 200, 900
or more, yet he was willing to undertake
it, although public opinion in Boston was
not yet ready to sanction the doubling
oe the city debt, which would be involved
in such purchase. For that reason the
bill should be so framed as to secure all
possible advantage to the public, while
insuring the companies a fair return on
their investments.
A factory is nearing completion near
London, England, whose builders, it Is
said, expect to produce about forty tons
per day of substitute for India rubber
which its inventor calls "oxilin." 1t is
claimed that this substance can be pro-
duced cheaper than India rubber and
will replace the latter for hydraulic
packings, wire insertions, etc., as it Is
impervious to mineral oil and can stand
temperature Of from 200 to 400 degrees
Fahrenheit.
The dates of the annual convention
of the American Bankers association
have been changed to August IT, Is and
10, instead of August 10, II and IL, as
previously announced.
It Is said that some thing like $500, ,000,-
900 of the Turkish debt is held in France
and that the market value Of French
investments in the Ottoman empire is
about $500, 100000.
The downfall Of prominent banker
in Chicago is said to have had its ORR
gin in his illicit affection for a young
woman employed in his office. When a
man goes wrong, Immediately the cy-
nics question, who is the woman?"
leaps to our lips Thus is womankind
maligned. How infrequently It is, how
ever. that when man has succeeded in
life and attained an honorable place in
the esteem of his neighbors, we say:
"Cherchez la femme!" - American
Banker.
The excess of merchandise exports
during March Is $40, ,S9S, 700. During
February it was $20,579.520. The excess
of exports for nine months ending
March 81 is 1923, 1881, $40, against SIC, $780,
SCI for the same period ~ 1896, $685.
406 in 1885, and 1923, ,303, 1856 in 1894.
An important financial incident of re-
cent date is thaL announcement of the
plan to refund New York Central rail-
way bonds at lower rate of interest.
The plan involves the replacing of $7O,-
100000 of securities by an issue bearing
3h per cent.
Incorporation
The Chicago Furniture company, cap
ital stock $4,000. divided into 1000 shares
Of the par value of IS each, all sub
scribed. Directors. r. ]. Handbook,
Stella B. Handbook. J. B. Ward, L. B.
Ward and Frank Weinshank, all of Los
Angeles.
Bradstreet's Financial Review
NEW YORK, May 7.-Bradstreet's
financial review tomorrow will say:
While current stock speculation retains
its chief characteristics the absence of
public participation, the predominance
Of professional manipulation and mar
rowness that frequently deserves, the
mama of ataEnatian has NOT bean NTH