The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-05

Boston Elevated .............. S62t IS
Boston & Providence.
Central Massachusetts ......... Is 16
10 preferred .................... 69S4 20
The Isabella Gold Mining &C.. which
made the recent wonderful strike of ore
that set the Cripple Creek district
afame with excitement, has brought
suit against the Victor TO restrain the
latter from running a cross cut into
an isabella claim. a dispatch from
Cripple Creek says that it is the opin-
ION that the Isabella people are APP
prehenSiVe that the Victor is feeling
for the Isabella bonanza vein, and that.
oelng afraid 1t will eliminate in the
discovery that the Isabella vein apeXes
IN the Victor claim, the filing of the
present suit is an attempt to forestsll
such discovery by securing an injuuc-
ton preventing the Victor from con-
tinuing its cross cut
What causes the belief that the Isa-
bella Company fears that the Victor
vii! penetrate its body Of ore is the
calculation that the Victor cross-cut
ana the Isabella drift in which the
bonanza was encountered, would come
near meeting, except that they are on
different levels. Eight hundred feet
would. it is calculated; take the drift
to a point where it would be difficult
longed to the Isabella or 10 The Victor,
if apeXed toward the north
Even if the Victor should be able I'LL
timately to establish claim to the vein,
a long period of expensive litigation
must intervene.
The New York Commercial is author
ity for the statement that the Stand
ard Oil party has already brought a
controlling interest in Parrot. As one
RnEtOn
Standard Oil people do not expect to
make their money on a consolidation
scheme. That win give them a stock
that will pay them fair and stable
dividends, but they are picking up big
profits on individual properties mean
while. Before the consolidation is ac-
ually consummated, they will have
pOcketed the large part of the profits
Of the deal"
The official circular formerly notify
ing the stockholders of the Tecumseh
Copper Co. of the proposed issue of Co.,
600 shares of new stock has been IS
sued. Present stockholders will be Civ
en- the privilege of subscribing for 49,
600 shares of the new stock, share for
share, upon the payment of IS IN cash
per share, The remaining 10000 shares
viii remain in the treasury. The COM
pany will neither buy nor sell rights,
which will expire April l. The proceeds
of the subscription will be used for
the prosecution Of extensive develop
ment work
Former Senator n. P. Hill of the
Boston & Colorado Smelling Company
! has announced the sale of the com
panys plant at Butte, Mont, to a New
York syndicate, for 81 100000. The deal
was handled by Henry r. Wolcott,
brother Of Senator Wolcott The com
pany was organized in 1888 with a cash
capital Of 100000, and has paid divi-
dendS as high as thirty-tive per cent
year from the start, besides heavy sal
aries to officers. The names of the pdr-
| chasers are not announced. Rockefeller
of the Standard Oil Company had an
option on it several weeks ago.
Dominion Coal has climbed to the
| highest figure yet reached, 49, There
We're several rumors regarding it. One
referred to the story that control has
| passed to New York as the cause of the
advance. Another intimated that the
| plan is under consideration to refund
the bonds at a lower rate. No con-
| frmation whatever of this story was
obtainable. As the bonds are callable
| at 10 and the preferred stock at 115,
| there would be an economy in the re-
funding. The preferred sold at 121.
| The real explanation of the move
ment seems to be simply that as the
! time for the starting of the Gas &
| Coke plant approaches more interest
! is shown in Dominion Coal, which will
profit largely by the added business it
! will receive.
| Rumors of far-reaching plans of i'm
prOVement and expansion of the Della
ware and Lackawanna railroad system
under the presidency of Mr.. Truesdale
! . tsa q N rai r.
cles, plans which are said to include
| the extension of the road westward as
a trunk line and it's entrance into New
| York city as the sole owner and user
of the Hudson river tunnel. The selec-
| ton of Mr.. Truesdale for president is
universally believed to have been the
| ratification of w. X. Vanderbilt S
choice of a successor TO Samuel Sloan
| The Lackawanna may be regarded al
Iready as part of a Vanderbilt trunk
line to Chicago, but if the reputed pro-
| jeCt of its management in relation to
| the North river tunnel be carried into
| effect, giving it direct access to the
| city, it may assume much greater inn
| portance as to its through traffic than
it now possesses. There is owing on
the tunnel nearly 100000, and that
! property is within q. month or two to
/ be advertised for sale under foreclos-
ure.
1t had been expected that it would be
bought in by the reorganization com
mittee, representing American and
English interests; but, as a member
of that body said yesterday: The
LackaWanna can have the tunnel if it
| willing to bid more than we shall" The
tunnel has been built for about 5000
feet on the Jersey City side, starting
at 18th street, and for about 200 feet
on the New York side, from Morton
street. These sections are now flooded,
but the water can easily be pumped
out whenever financial arrangements
shall be made for resuming the work
Of construction.
1t had been part of the original plan
that the various roads have terminals
in Jersey City and Hoboken, among
them the Lackawanna, should use the
tunnel Jointly but it is said that there
is nothing in the charter of the tunnel
company to prevent one railroad from
monopoilzing the right of way.
The American Wooden Company
which has just been organized in New
York by wooden manufacturers who
have formed combination, promises
to develop successfully. The preferred
stock Of the company i3 TO be 500. 900 900
with authority to increase it to $4,000,
600. The common stock will amount to
$50 900 900, but there IS a clause in the
charter which authorizes an increase to
$40 900 O0O
The officers are Frederick Ayers,
Lowell, Mass, president; William w.
Wood, Boston, treasurer; T.. p. Chaplin,
Lawrence, managing agent; j. G.
Woodruff, New York, selling agent
The executive committee is composed
Of James Philips, Jr., Boston; Charles
Fletcher, Providence, r. l.. and William