Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1899-04-02

MISCELLANEOUS NEWS.
The market for local stocks and
bonds is advancing. in unison with
prices in other cities. and industrials
are very stiny held at present, the
| firmness being based upon the indus
trial activity now prevailing, and the
general advance in the selling price of
products, and the consequent enhance
ment of notwithstanding capacity on
| the part of the various works.
The current project to form gigan-
tic glass combine, which now appears
| to have failed, according to an article
| in the Commoner and Glass Worker,
printed in connection herewith, caused
decided bulge in the price OF ell glass
stocks in the Ohio valley recently, in
Guiding the Central of this city. Only
| a few weeks ago the stock of this COM
. pany was selling as low as 65. Yester-
day 50 was offered, and par was asked,
with very little stock changing hands.
Upon the subject Of this glass combine
the Commoner and Glass Worker of
yesterdays date had the following Of
decided interest:
THE local brokers who are promot-
ing the tableware combine returned
from New York Monday thoroughly
disguised over the obstacles thrown in
the way Of the scheme by the action
of the United States Glass Co. Prest.
D. C. Ripley, of the United States Glass
CO.. had placed the option on the COM
mon stock of his company at par-$100,
| though under the greatest bull pres
sure the stock ON open market has
| never reached $40 this year. An op-
ton on only 81 per cent of the issue Of
common stock was given while an op-
ton on the preferred was refused.
The United States option was eyld-
emily not opened until the promoters
were in the offices Of Ladenburg, Thai
mann & Co., at New York. With the
absurd option went President Ripley's
statement that it was the ultimatum
OF the u. S. Glass Co. The promoters
have options on over 80 per cent Of the
producing capacity and while the OPP
tons are generally too high yet no
trouble was expected in scaling them
down to a feasible figure. But the To-
tally unexpected stand taken by Pre-
sident Ripley, of the U. s. Glass Co,
put a stop to all proceedings and the
promoters came home disguised and
discouraged.
President Ripley held flltmly to his
blutf-for no one regards his action as
anything else, in view of the fact that
the failure to effect a combine in the
tableware trade will mean a severe
blow to the U. S. Glass Co. This is
keenly appreciated by the stockholders
and meetings are being held by them
this week with a view to giving an
option on a majority of the common
stock at $50 and the preferred at $if0.
Such an option will have to be given
before the promoters viii do anything,
and the indications are that the stock
holders will force matters and soon al
low the scheme to be taken again be-
fore the New York bankers.
THE best progress is being made In
the proposed lamp combine, and 1t is
expected that the prospectus will soon
be issued"
The greatest activity in local stocks.
perhaps, is In Wheeling Steel and
Iron. The stock has been steadily held
at par, and there was little movement
in it at that figure until the middle of
the past week, when a few shares were
sold, ex-dividend, at 101, which prac-
tically makes the price 1929. A block
of stock was offered Friday at the
above figure, but was withdrawn yes
terday. This stock Is advancing on
its merits. although the rumor about
the probability of the plant entering
the trust may have had its effect. The
trust talk is neither confirmed nor de-
MED here, but the name Of the Com
pany is persistently associated with
the combination, ard dispatches from
New York always include the Wheeling
Steel and Iron Company in the deal.
Yesterday morning the Register pub
lished a general telegram concerning
the charter issued to the Republic Iron
and Steel Company. Following is q
complete list of the concerns, together
with their plants, that have already
been absorbed by the new company:
The Andrews Brothers Company, Of
Youngstown Brown-Bonnell Iron
Company, Youngstown; Mashoning
Valley Iron Company, Youngstown;
Lake Erie Iron Company, Cleveland;
Toledo Rolling Mill Company. Toledo;
Cherry Valley Iron COMPANY, Leetonia,
o. Atlantic Iron and Steel Company.
New Castle, Pa; Corns Iron and Steel
Company, Of Massillon. o.: Eagle Iron
and Steel Company, Ironton, o.; Cen
trail Iron and Steel Company Brazil.
Ind: Indiana Forge and Rolling Mill
Company, New Albany, Ind; Indiana
Iron Company, Muncie. Ind; Inland
Forge and Iron Company. East Chi
cago, H. Marion Iron and Steel Com
pany, Marion. Ind. Muncie Iron and
Steel Company. Muncie. Ind; Terre
Haute Iron and steel Company, Terre
Haute, Ind; Wabash Iron Company.
Terre Haute, Ind. Union Steel Com
pany. Alexander. Ind; Westerman-
Stewart Iron Company, Marion, Ind,
Union Rolling Mill Company, Cleve-
land, o.. Wetherold Rolling Mill Com
pany, Franklin, Ind; Springfield Iron