The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-24
LABOR, TRADE, INDUSTRY.

LABOR, TRADE, INDUSTRY.
Notes That Will Interest All Classes
of Workers and Capitalists.
Jones & Laughlins (Limited) of Pitts
burg, have purchased from Peter l.. Kim
berry, OF Sharon, Pa, several thousand
acres of fine ore properties in the Mesaba
region. The price is said TO be $2,2J0,000.
The oil company business began briskly
in Texas this week, and seventeen charters
Tor new companies have already been flied
at Austin. They have an aggregate capital
of $4,643, 600, and range from $1,000 to $1,000
cOO. The aggregate stock of all the COM
panies Is nearly $5O,000,WO.
The employees of the Wolf. Sayer &
Heller skewer factory of Murphysboro. H..
are on strike. They demand shorter hours
ana reSognition of the Amalsamatsd
firm refuses to grant the demands, and the
plant has closed temporarily.
President Frank Springer, of the Max
well land grant, has affixed his signature
to the last of the papers necessary for the
possession OF a tract OF 2o,WO acres or the
richest coal and timber land of Colorado.
The deal involves 100000.
The strike of the employees of the Nc
Keesport Connecting Railway, ordered for
yesterday morning, did not take place. The
strikers claim, however, the road will be
tied up before another day. Superintendent
j. A. Beatty declares the road will be OPP
Grated in spite of the strike.
The sash and door manufacturers of Min
neapolis have agreed to terminate. on May
/, the arrangement with the Wood Work
ers' Union by which the union labor label
was stamped on all mill work. This action,
1t is feared, will cause the strike Of the
carpenters, now in progress, to spread TO
all the other building trades.
The st. Lawrence is to be spanned by a
third bridge opposite Montreal. The New
York Central has obtained a controlling
interest in the Montreal Bridge Company,
and the announcement Is made that the
work of construction will at once be begun.
The estimated cost of the bridge is 100000
and the terminals will cost 100000 more.
The two large sewer pipe plants at Lis
bon. o.. owned by the United States Clay
Manufacturing Company, will pass into the
control of the American Sewerpipe Com
pany. The price is said to be near half a
million dollars. The completion of this
deal leaves only three plants of consid-
cradle size in the eastern Ohio district out
side the sewerpipe trust.
A dispatch received at London. from
Berlin, says that the scale of customs du-
ties, which 1t is proposed shall govern
future commercial treaties, Is as follows:
Wheat. rye and oats, 54 marks per hun
dred Kilograms; maize, ~; barley malt,
81: other malt, s; steers. cows and calves.
5 marks per hundred kilos. live weight;
oxen, 8; sheep. 5; hogs, 8.
The following official statement concern
Ing the price of steel rails was made at
the office of the United States Steel Cor
poration yesterday. 1.-The demand for rails
Is such that some of the railmakers are
offered $2S. and the result will probably be
that the general selling price will soon be
increased to SIS, although there is some
opposition on the part of some Of the lead
Ing manufacturers.
Frederick P. Fish will take office as pres
ident of the American Bell Telephone Com
pany and of the American Telephone and
Telegraph company on July l next. His sal
airy will be 100000 a year. He is forty-seven
wears OF age and a Rraduatq of Harvard
University and Law School. He is senior
member of Fish, Richardson, Herrick &
Neaves. a Boston law firm, and one of the
most prominent patent lawyers in this
country.
The Manhattan Fire Insurance Company,
OF New York, will be reorganized under
the laws of Ohio. This conclusion was
reached at a meeting of the stockholders
I'm Cleveland yesterday. 1t is not known
what the capital stock will be. 1t is be-
lieved the new company will meet the
obligations incurred by the other one.
Committees were appointed TO work out
details and present their conclusions at a
meeting to be held in a few days.
1t is ascertained in Berlin financial circles
that the mission of Frank Vanderbilt, former
assistant secretary of the United States
treasury, who arrived in st. Petersburg
early last week in the interest of improved
business relations between the United States
and Russia, has much wider bearings and
involves a general study of the European
lnaDcia situation, with special reference
to the management of the foreign business
Of the National City Bank of New York.
Temporary injunctions have been granted
against Austin, Tex, capitalists, who have
bought certain streets in the Beaumont
oil fields. to prevent them operating lii
the streets for the purpose of boring for
oil. The capitalists paid $4,000 for the
streets, which were laid off in the oil sec
ton when ii was intended to place that
tract of land on the market as residence
property. The discovery of oil set aside all
thoughts of building.
The manager of the Manhattan Life In
surance Company of Cincinnati called on
the Ohio State Insurance Commission yes
to-day and stated that his company had
suffered great annoyance and the loss of
much business by reason OF the public
confusing its name with that of the Mar
haitian Fire Insurance Company of New
York. whose license was conditionally re-
voked a few days ago by the state COM
missioner. The companies are entirely dis
tinct and the standing of the life company
In the State is In nowise impaired.
John NJ. Clark. chairman of the Chicago
Telephone Company, will retire from his
position within the next week or ten days.
and will be succeeded by John l.. sabin, of
San Francisco. Mr.. Sabin also will become
president of the Central Union Telephone
Company, which controls the Bell system,
covering Illinois, Iowa, Indiana and Ohio.
succeeding a. w. Jackson, who, Ii is said.
will retire. Mr.. Clark. who is well known
as a telephone man, Will become chairman
of the board Of directors of the Chicago
company. The two companies which Will
be guided by the Californian will practi-
cally be operated as one system.
Two thousand union machinists of Gin
cinnati have made "A demand for an in
crease of l215 per cent. In wages, in addi-
ton to nine hours per day, the latter hav-
ing just been granted, to take effect May
%. The machinists also ask that appren-
tices be restricted to one for every five
journeymen. They also want time and a
half for overtime before midnight. and
double time for Sundays, holidays and ear
ly mornings. The men claim that the aver
age wages here are only Il and p cents an
hour. or lower than elsewhere. and fix May
20 as the limit for a concession or a strike.
ID. r. Kennedy, of Indianapolis. organizer
of the American Federation of Labor, is In
charge of the union machinists.