The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-26

Work was begun yesterday on the foun-
dations for a big sheet steel works for the
Laughlin Iron and Nail Company, at Mar
tins Ferry, o. The mill will be one OF the
largest i'm the country. will be Independent
OF the United States Steel Corporation,
and will employ one thousand hands.
The furnace employees of the Mahoning
and %Shenango valley furnaces, who have
recently been organized into unions, served
notice on the operators yesterday that
unless an increase OF 10 per cent. In wages
was granted they would strike April i.
About $500 men are employed at the fur
naces.
Eight bids were received by Controller
Coler. of New York, yesterday for the sale
of S2.5OO,oOO Sh per cent. corporate stock
of the city of New York for rapid transit
tunnel work. The highest bid was a joint
Leach & Co.. who bid $11O.51 for all. This
bid will probably be accepted.
The Chicago Board of Trade yesterday
won a Victory in the Appellate Court, In a
ing reversed the injunctions secured by
Frank D.. Riordan, broker and member of
the Board of Trade. restraining the board
of directors from expelling him on a charge
of having violated the rules of the organi-
zation.
The announcement made last week that
Messrs. j. Il. Morgan K Co. have pur-
chased what is known as the Rockefeller
interests in the ships, railways and mines
of the Northwest was confirmed yesterday
by Mr.. Rockefeller Representatives, +. L.
Gates, who is president of the Bessemer
Steamship Company, the Duluth MeSaDa
* Northern Railway and the axe Su-
perior consolidated iron mines.
Horace T.. Andrews, representing a syn
dicate with headquarters at Cleveland. o.,
yesterday purchased OF President John w.
Boyle. of Utica, n. Y, the controlling in
terest i'm the Belt line and Suburban street
railroads i'm that city. The stock repre-
scented a cash value of more than 100000
and a certified check was put up for the
full amount. This syndicate recently pur-
chased the Bleecker-street railroad In Uti-
ca and now owns all the lines there.
Sir Theodore Doxford, speaking yesterday
at the annual meeting of William Doxford
* Sons, of Sunderland, England, said that
as long as the heavy import duties on steel
continued In the United States British ship-
builders would be able to get American
steel from 20 to 40 shillings less per ton
than the price the same steel sold for IN
America. Hence the steel combination,
selling its surplus production in Great Brit
ain. would keep up the cost of American
built ships and keep down the cost of ships
built in Great Britain.
The brotherhood of Boiler Makers and
Iron Shipbuilders of America presented
their wage scale for the year beginning
April l to the manufacturers at P%ittsburg
yesterday. The scale provides for 50 for
9 hours work. an advance of 80 cents a day;
also that riVeterS and riggerS shall be
classed as boiler makers and not more than
one nonunion superintendent or foreman
shall be employed on one job. About 1000
men are aUeCIGu. Inc WOIhllCh - 0Oli-
hdent that nearly all the manufacturers
will sign the scale before the end of March.
The newly organized American Can Com
pany at Boston yesterday elected these Of
ficers and directors: President, Edwin
Norton; secretary and treasurer. r. >.
Wheeler; executive committee, ID. g. Reid,
w. IL. Leeds, w. T.. Graham, +. A. ASS
mon. Edwin Norton, w: IL; Moore. III. F.
Moore. ID. G.. Reid. w. b. Leeds. w. T.
Graham. F. S. Wheeler. Warner Arms,
Edwin Norton. c. $: Guthrie. n. f. Akin.
James Mclean, f. A. Assman. e. +.
Breckenridge. F.. Rudolph. II. w. Phelps.
s. A. CHINA, w. NJ. Leeds. G.. G.. McMur-
trie, Henry Wick and Irwin Ayres.
A plan 10 form a combination of the prin-
cipai furniture factories at Grand RAPIDS
has progressed so rapidly under the derec-
ton of Charles X. Flint, OF New York, that
Il is expected to be in working order by
May l.. Incorporation papers will be filed
by the middle OF April, either I'm New Jer-
sey or Delaware, with a capital of from
81. 600 to 100000 Four big firms are
in the trust. J. II. Morgan and August
their aid i'm financing the enterprise. Grand
Rapids men will be placed at its head, with
a representation of 10 TO Is per cent. of
Eastern men. None but Grand Rapids fac
tories will be taken at first.
An attachment was issued. at New York.
yesterday. against the property of John
Grant Lyman. the president OF the Inter-
national Zinc Company. in an action
brought by Charles II. Stewart to recover
$26. $50. Stewart claims that he was induced
10 invest $3.50 in stock OF the company
upon false representations as to it's value.
and found that it was worthless. lie also
sues for &.D0. as assignee OF Julius
Leszynsky. who says that amount Is due
to him for certain negotiations carried out
bv him for the requirement OF mining
properties I'm Missouri and Kansas. Leszyn-
sky was paid for his services by n certii-
cate for $4,000 OF stock in the company.
The certificate. he declares. he discovered
to be worthless.