The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-27
B AND INDUSTRY.

Amos Steelsmith, a well-known oil opera
tor, has filed a petition in bankruptcy in
the West Virginia courts. The liabilities
are $4,000, with $4,000 assets. mostly in oil
land. the prospective value of which is
much higher.
ADouC go union woodworkers employed by
manufacturer of refrigerators, bar and
office fixtures at st. Louis struck yester-
day to enforce a new wage schedule pro-
mulgated recently by the Woodworkers
Union. The scale had been refused by the
manufacturers.
The Ohio Supreme Court in the case Of
the State VS.. the Dayton Traction Com
pany has decided in favor of the traction
company. The decision is important to in
terurban railways for the reason that they
affirm TO such railways the right to carry
freight through the streets of the munich
palities along their lines.
The suspended First National Banks
building and fixtures. at Niles, Mich, We're
sold yesterday to James Reynolds and ID.
S. Scoffon, of New Carlisle, Ind, and
Charles F.. Pears. of Buchanan, who will
start the Niles City Bank. Mr.. Scoffon.
dent of the First National Bank. of
Buchanan. Pears is cashier of the First
National Bank, of Buchanan. The Niles
City Bank will open for business to-day.
Prominent stockholders as we'll as the
officials of the American Shipbuilding Com
pany in Cleveland deny that the Morgan
syndicate is ~endeavoring to secure control
of their company. 1t is pointed out that
Senator Hanna. who is said to be nego-
tiating the deal with j. Pierpont Morgan,
is a very small stakeholder in the Ameri-
can Shipbuilding Company. 1t is said that
Mr.. Hanna controls less than D per cent.
OF the stock of the company.
The Massillon. o., coal operators are
laughing at the threat of a strike and the
miners are d~espairing of gaining their
points. The conference Monday evening
disposed of the eight-hour work day for
hoisting engineers by referring ii to a joint
of operators and engineers for
settlement. The demand for pay for work.
ing bone COAL is now being considered. A
mass meeting of the miners of the district
will be called the last Of the week.
The Joint conference of miners and OPP
orators of the Hooking Valley. which met
in Athens. o., yesterday, is in a dead
lock. the operators demanding a modifca-
tion of the docking system and the min
ers unanimously refusing TO concede II.
At present the value of the coal locked Is
paid into the treasury of the miners
union and the operators claim their trade
Is being ruined because of the large amount
OF slate and dirt in the coal. No agree
ment is now in sight.
The export movement in American coal
has been checked. according to a report
from Consul Thackara. at Havrc. He an
swers many inquiries from coal dealers
here by the statement that American
steam coal, run of mine. alongside the
wharf at Havre. is quoted at S5.S3 per ton.
while British coal anges from S.31 to
e. 30. the latter the gerry best quality of
picked coal. There are also discounts on
these English rates and unless the Ameri-
can exporter can solve the problem OF Sc
curing cheap freight rates. his coal. though
delivered on board more cheaply than the
British coal. cannot compete in Europe.
The Telephone. Telegraph and Cable
Company OF America, at a special meeting
in Jersey City yesterday. approved the
resolution Of the board of directors pro-
viding for n decrease Of the capital stock
from 100000 TO 100000. The decrease
is TO be effected by reducing the par value
of q share from $50 20 s15. At the meet
ing 219. 100 shares were represented. almost
entirely by proxy, and the vote I'm favor of
decreasing the capital stock was unani-
nous The Telephone, Telegraph and Cable
Company Of America was organized about
sixteen months age and s. a share was
payable.