The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-10-21
MISCELLANEOUS STOCKS.
MARKET NOTES.

! 1t is now given out that the capital of
$1,000 900 with which the Union Steel Com
pany was formed in Pittsburg may be in
/ creased to 100000 in the spring. This
will make it more than ever formidable
rival of the American Steel & Wire Com
pany otherwise known as the steel trust.
The company will erect in the Mononga-
hela valley one of the most complete
/ open-hearthed steel plants and rod and
wire nail mills in the country. Then. too
the steel trust is threatened from another
source by the 25 concerns engaged in the
manufacture of wire fencing, who have
| been forced to buy their wire from the
trust, but now they talk of organizing a
company and building their own plants.
| DR.. ". Seward Webb, president of the
| Wagner company, says THE story of
! the consolidation with the Pullman COM
| pany is an old one, but # has no basis in
| fact. The interests of the company would
not be enhanced by such a combination
and ! see no possibility of such a union
at this time"
The Boston news bureau figures that the
! Boston & Montana company is producing
at the rate of $4,000 600 pounds of copper
a year at 10 cents per pound profit, or $50
per share year. and ought to pay $40 a
! quarter for some years.
| 1t is said that IS shareholders own the
control of the Calumet & Hecla Com
Epany. The control is vested in less than
Is per cent OF the total number of share
holders
Steel is stll on the jump There will
lprobably be an advance of 81 a ton on rails
if the predictions of the Iron Age are
correct and the wire interest has made
an advance of 50 per net ton on wire and
rails, and reports are current that struc-
tural material is to be brought into line
at an early date The conservative ele-
ments in the trade dcplore this, since 1t
increases the danger of the check and
threatens to make sharp decline when
it does come. The prospects of the ex-
port trade is further darkened by the rise
IN ocean freight, due to the withdrawal of
many vessels which are carrying men
and supplies to South Africa
Official reports from Chicago continue
to tell of the steadily increasing traffic on
all portions Of the AtChison
One Of the good signs of the present
times Is the recent surprising increase in
the demand for good investment bonds
now very generally reported by bond
houses.
A bear on the market said: Il have
been surprised to see the Indifference
with which Mr.. Keene's interview has
been received. In other words, people
have stocks. and they do not wish to see
or near anything which suggests a lower
level of prices
change borrowers in New York are said
to come almost entirely from the trust
companies and private lenders. Whether
the banks have loaned up to the limit of
their Immediate resources or are holding
their money mainly for the use of Gus
toners in commercial circles is hard to
feat
urss OF the money market in the stock
eXcnange yesterday was the lending of
SL0UCWO at per cent by T. ]. Taylor &
Co.
II is said by those who possess a pretty
thorough knowledge of the present cop
per situation that a firm market has
been spoiled in the anxiety to give manu-
tactqiers their deliveries all in a bunch
III adVfHce of the stipulated periods Con-
Sumption is splencid, with the prospect of
continuance OF good trade.
'llta absanH F1EF.Hs
stock market at the close Thursday was
on the report that 81, 0G0,O0O gold would be
taken for export. Some bankers said
late yesterday afternoon that about So
0Je0O6 or s1OG0O,O90 might 20 out on this
movement, No definite information as to
shipments of gold was obtainable this
morning, put rather positive rumor was
afloat yesterday that $2,OO0OGJ already had
been engaged
Chicago, Oct. 19-At the Pullman meet
ing R. +. Lincoln was reelected presi-
dent The Chicago Tribune prints this as
coming from a high financial authority:
You can depend absolutely upon Pull
man W agner merger regardless of official
denialss;, Wagner goes out of existence on
Dec, 81, and Vanderbilts get Pullman
holdings of B. & A. and B. & NJ road
shortly. giving, n. Y, Central control in
New YORK, Oct. 19-Another bicycle
trust is contemplated. 1t is to be com
posed of the majority of the 100 manufac-
turing concerns that were not included in
the Spalding combination Agents of
these plants have been travelling about
the country making arrangements for the
second organization. A meeting win be
held In this city in a few days to perfect
the preliminary arrangements. The pre-
| dicttOn was made by q bicycle manufac-
turer at the fifth Avenue hotel yester-
| day that If the second trust is formed it
Will be absorbed by the Spalding concern
Wlthm three months of the time of its
| formation
cdoward, Crosby & Co.'S Boston Letter.