The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-01-15

4
cant
THE ATLANTIC AND PACIFIC.
San Francisco, Jan. 14.-Charles W.
Smith, who for nearly year past has
| filed the position of receiver Of the At
| lantic and Pacific railroad. is here on
| business connected with the road. His
visit at this time, he says, has no signl-
| ffcance. He is simply looking after a few
| matters Of routine business and in few
days viii depart for Albuquerque, N NJ.
He says all rumors TO the effect that the
Southern Pacific and the 81. Louis and
San Francisco road were anxious OF Sc
cure the road were without foundation.
The Atlantic and Pacific railroad, ac-
| cording TO Receiver Smith, viii be
| bought in by the first mortgage bond
| holders. A reorganization will be effect
| ed and the road VIII then start out with
a new lease OF life. Under the new
| management. he declares, the policy Of
The road and its relations with other
lines VIII remain exactly as they are
now. In other words, the Atlantic and
| Pacific will continue 10 serve as an i'm
! portant lick in the Santa Fe system, and
will be operated under a traffic arrange
! ment with the Santa Fe as il is now.
| The first mortgage bonds Of the At
| lanlic and Pacific. amounting to $4,000
goo, are held ty a very few people" he
said. and these comprise the reorgani-
zation committee. There is now in the
| hands OF a conference committee of The
| house and Of the senate bill granting
| 10 the Atlantic and Pacific railroad
| franchise almost similar in every respect
! to that held by the existing company,
the Atlantic and Pacific Railroad COM
pany. / have reason TO hope that con-
gress viii pass the bill before the expf-
ration OF the coming month. The date
OF the sale will then be fixed and the
new company will buy the property.
There is a second mortgage of s5.00o.000
on the road held by the Atchison. Tope-
"A and Santa F'e and the st. Louis and
San Francisco roads. This will be sat-
isfied by an Issue of preferred stock Tne
existing owners of common stock will
not be overlooked in the reorganization.
although this is by no means compulsory.
They will be gwen certain amount OF
the securities OF the new company and
the claims Of all interested parties will
thus be amicabiy AMI satisfactorily set
tied"
DIVIDEND PASSED.
New York, Jan. 1.-THE directors OF
the Toledo end Ohio Central Railroad
company have decided TO pass the divi-
dend on he preferred stock due this
month Similar action was taken in re-
gard to the dividend due last October IA.
A director of the Toledo and Ohio Cen
trail says thai the passing of the divi-
dend was on account Of the decrease in
net earnings, due 10 the demoraliza ton Of
the bituminous coal trade for the five
months ending November so, losses on
net earnings on this account amounting
to Sis. 900. The road at present, the
directors say, is barely earning its fixed
charges.
RAISED A NICKEL AN HOUR.
Greenbay Wis, Jan. 14.-General Man
ager Champion of he Kewanee, Green
Bay and Western railroad has settled
the strike of stevedoreS by conceding the
demands of the men and paying them
20 cents per hour, instead of - cents,
which they received previous TO the
strike The work of loading on the lake
ferry line was resumed this morning.
TO CURTAIL PRODUCTION.
Boston. Mass, Jan. 1.-THE movement
began sometims ago TO curtail cotton
cloth production in New England and
has become active and steps are being
taken TO sound the principal manufact-
urers on the question. The promoters OF
the plan represent several mills in Fall
River, and NJ. c. D. Borden OF New York
the largest owner of mills in that city,
has already been consulted. is under
stood that Mr.. Borden favors a rejuc-
a week. providing the action is general.
The principal objection to the movement
comes from business men and some man
ufacturers, who say that a forty-hours
a week schedule would not be sufficient
help to the general market to warrant
its adoption. In view of these conditions
it is believed that no general agreement
for a forty-hour schedule will be signed
in Fall River until other New England
M q r1f a1frr -ir1er
a committee has been appointed in that
city to visit Rhode Island, Lowell and
Manchester mills to obtain their Views.
1t is understood that several large cor
porations in these places favor the re-
duction.
AGAINST FOREIGN GLASS.
Pittsburg, Pa. Jan. 14.-The joint ex-
evutive committee OF the western and
Pittsburg window glass interests have
fixed a special discount for the sea-
board jobbers to enable them to displace |
foreign glass in the American market. |
With this help it is expected that the |
product will at once take the lead. For |
some time the jobbers have, it is claim |
ed. struggled to Guido the foreign manu-
facturers, without avail. The rate fixed |
by the executive committe will be SUBJ
mitted TO the jobbers committee at an |
early date.
CRAMPS CORNSTALKS.
Chicago. Jan. 14.-Edwin s Cramp. OF /
the Philadelphia shipbuilding fern, com
pleted plans mere today for the opening
of factory at Rockford, Ills. about Feb |
ruary l, for the manufacture of ship |
padding and cattle fodder from corn |
stalks Before the harvesting Of the next |
crop il is expected that several factories
VIII be erected in the corn belt and ma
teTial which has been heretofore practi-
cally worthless win become a source of
revenue 10 the farmers. Mr.. Cramp sta
ted that he had just completed contracts
with the Aemerican Spirits Manufacture
ing company To feed their cattle with
the substance prepared from the pith
A portion of the corn stalk crop OF
1S9! VIII beused by u.s. said Mr.. Cramo.
We intend to invest a large amount of
capital IN making use or the inventions
and buds factories from year 10 year
IN favorable locations throughout the
west. so that there will be no expense
for transportation 10 most OF those who
must have the product"
Mr.. Cramp said that the price to be
paid fer the stalks Will De s. q. ton.
SWIFTS IN ST. JOSEPH.
St Joseph. Mo. Jan. 14.-John DON
oNan, Jr., has just returned from Chi
cago where ne mas been for several days
in consultation with the Swists. and has
contaminated a deal for the purchase by
Chicago packers Of the Morgan packing
plant and stock yards Of this city. The
price 10 be paid Is s4OOO0O.
RoTHSCHILDS IN COLORADO.
New York. y. Y. Jan. 1.-THE World
this morning says: An important deal
has been arranged in this city whereby
the Great Tomboy gold mine. Of San
Miguel county. Colorado. passed into the
hands Of the Exploration company. This