The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-05-16
-FINANCIAL AND COMMERCIAL.

at the office Of Winslow & Co., State
Mutual building.
The bonds offered are the balance OF
an issue of $780, 600, of which 100000 OC
have been taken by the vendors and
at private subscription.
/ The company is incorporated under
| the laws of New Jersey, and has ac-
| quired the flour mills, elevators, plants,
1 brands, trade marks, etc, of 10 we'll
| known companies in different parts OF
| the country, The aggregate capacity
Of the flour mills in the combination is
I $4,000 barrels per day, and their stor-
| age and elevator capacity is 2,2f2,0O0
bushels, their trade marks being pro-
tected in foreign countries as well as
in the United States.
An increase in productive capacity,
combined with economies in operation,
is expected from the consolidation of
the plants. In addition to the large
production OF -four now enjoyed by the
mills, ii is claimed that the specialties
in cereals of companies which form
rart of the combination, are constantly
meeting with increased sales. The ag-
gregate savings on the running of the
mills to their full capacity, when com
bfned under one head, has been one cent
per bushcl on the annual grind of 3d.
to be equal to $500, 600 in earnings.
The announcement of the consolida-
ton of the electric roads around BOs-
ton will soon be made. 1t is under
stood that the public win be admitted
on the basis Of paying $685. and re-
ceiving 10 shares of a 4 D. C. preferred
both as to dividends and assets and
cumulative for the former, together
with shares of common upon which
n ixrfd Sc Of Tod El71r-
giving the subscriber about o. c. on
his investment. The underwriters are
to get for $1,000, the same amount of
pref. and shares of common. The
pref. and common are each to be $10,
900, 900.
Here is Tom Lawson's tribute to
the late ex-Gov. Flower: "A brave
operator, who never thought what was
good enough for his friends was too
good for himself; a general who could
always be found using his fuse to
light his cigar with when his captains
were proposing to beat a retreat"
Outside stocks: B. s. G. 1ss@9-16;
Amalgamated 100@1s in New York,
100@% in Boston; Indo-Egyptian 36Q40
The rich men of the street are not
aggressive in their bullishness, and an
element of caution and conservatism is
creeping into their conversation. If
they go in to support the market they
will sell their enforced purchases as
soon as the market loses its present
nervousness.
Mr.. Keene bought 10000 shares of
stocks Saturday.
President Tappen of the Gallatin Ma
tional Bank says: There is no rea-
son for the public to have any appre-
hension as to the financial situation. It
is my opinion that the stock market
will steady itself at once. The banks
are ready to help any broker or bFok-
ers who may be embarrassed"
A. r. Flower says: The stock market
has met the shock, and the panicky
feeling is practically over.
A leading promoter says: There has
been a meeting of interests identified
with leading industrials just forming,
and it has been decided, owing to the
drop in the market, to postpone fur
ther action in calling subscriptions I'M
til the general stock market is in bet
ter condition. There Is no doubt that
there will also be postponement in the
payment of subscriptions on allot-
ments in other industrials more ad-
vanced in their fioatation than the one
referred to-"
The latest official reports received
with regard to crops on the St. Paul
lines show that wheat is looking fine,
and growing crops generally have
never looked better, considering the
short time seed has been in the
ground.
Andrew Carnegie was asked how long
in his opinion the present industrial
boom in the United States would last.
He replied: 1T cannot wane this year,
as there are orders sufficient to keep
things boming for that time The I'm
tied States supremacy in the iron and
steel trades is permanently estab-
lished. The United States are barely
tapping their resources of iron, coke
and coal while England and Germany
are working to the full limits of their
tether. England's product of pig iron
is decreasing year by year, despite the
big price it now fetches. Americas in
dustrial triumph is to endure"
The copper market last week was
quiet, and although prices settled to a
somewhat lower level, the market ap-
pears to have reached a point where
the tone may be called fairly steady
Spot lake is quoted at 19c., and flu
lures 1S1ac., but demand for cash cop
per Is slack, as deliveries are regular
enough to give satisfactory relief. The
feeling among producers is very firm
at 1S5sc., and concessions from those
figures have been refused.