The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-20
Coal Mine Owners i'm Arms Against
the Proposed Duty on Exports
Their Product.
FURRY IN THE SUGAR MARKET
PRICES ARE BOOMING, IN VIEW OF
THE COMING TARIFF.
Official Announcement that Only
Home Grown Beef VIII he
Served to ''TOmmy Atkins"

LONDON. April 19.-The proposition OF
Sir Michael Hicks Beach. chancellor of the
exchequer, to issue a loan OF $500. .0O0,0 900 in
oonsols. was adopted by the House of
Commons tonight, by vote of 1S6 to H.
Replying TO a deputation of members of
the House of Commons, representing the
coal interests, tonight, Sir Michael Hicks
Beach consented to an arrangement enab-
ling the coal exporters to execute
tracts, preceding a uecision as TO what
amount of duties would be refunded.
Henry Mason, who writes the parlia-
mentary letter for the Daily News, says
he thinks the opposition to the coal tax is
so fierce that the government will abandon
It, committee of the Golden Club met
tonight and resolved to open against the
sugar and coal taxes.
1t is announced that tax of 10 per cent.
an ounce will be levied on saccharine.
Answering a question in the House the
financial secretary of the War Office, Lord
Stanley, confirmed the report that all the
contracts now made excluded the supply
ing of foreign meats in the case of all
troops in the United Kingdom.
At a meeting of the Irish Cattle Traders
Association in Dublin to-day the secretary
of the association announced he had as
certained on good authority that the War
Office had decided that in future troops
stationed in Ireland should be supplied
with Irish meat only, instead of foreign,
thus removing a substantial Irish griev-
ance
The under secretary of the Foreign Of
fee. Lord Cranborne. replying to the ques-
toner, said that the Russian flag still flew
over the custom house at Neiu-Chwang,
and customs collected by Chinese
STAFF. turned over to the Russian author
ties and held by them in trust, subject to
future settlement.
COMMENTS ON THE BUDGET.
Taken as a whole, the comments of the
country on the proposals of the chancellor
of the exchequer in the budget statement,
presented yesterday. cannot he regarded as
unfavorable. The outstanding feature of
the public's reception of the budget is the
outcry of the coal districts, and, in lesser
degree. from the business affected by the
sugar tax. Sir Michael Hicks-B Beach. in the
House of Commons. to-day. however. con-
firmed the report that he was considering
exempting from duty all coal contracts
made prior to April IS. This. it is believed.
will go far to reconcile the coal trade gen.
while, however, the opposition of the coal
owners is augmenting hourly The Cham
bers of Commerce in the coal districts are
protesting in vigorous terms. The Cardiff
exporters scent ruin and their markets be-
ing captured by American and German
coal. The manufacturers, on the other
hand. fiatter themselves that the effect of
the tax will be to lower prices and lessen
competition in iron and steel.
The grocers advanced sugar a half-penny
per pound. this morning. in London. Brit
ish refined sugars very strong and
jumped shillings to 2 shiIlings and pence
a hundredweight.
The Scotch manufacturing confectioners
and preserve makers advanced prices four
shillings and six pence and two shillings
and six pence per hundred weight, respect
lively. The Scotch sugar refiners have pur
on three shillings to four shillings, and
have abolished discounts. There was prac-
tically no business to-day on the Greenock
Sugar Exchange, owing TO the extensive
buying prior to the budget announcements.
The president OF the Refners' Association
expresses the opinion that the tax will
work out beneficialy.
DISPUTE AS TO PAYMENT.
sugar arrived at Greenock last evening,
after the custom house was closed. and was
refused permission to unload. The duty on
her cargo amounts to G2,0OO The import
ers claim that the duty on sugar had not
been imposed when the steamer arrived
and therefore they will contest payment of
the duty.
The budget had little general effect on
ing consols. This premier security opened
half a point lower at 94lR. but later re-
covered somewhat. The price to-day Is
the lowest since 1892 Business became
brisk, and the market INDUCED in a game
of ping pong with consols for balls. There
is reason TO believe that the best financial
circles approve OF borrowing on consols
There is some expectation of the new loan
coming tomorrow. The market talk sus-
gests that the issue price will be 94lk, and
already dealings have occurred at IkG%.
premium.
The export coal business at Cardiff docks
was at a standstill to-day. Merchants re-
fused to ship and take the responsibility
of the new tax. while the colliery owners
repudiate any liability. The Scotch ex-
porters of coal are of opinion that the
United States are bound to capture the
West Indian coal market The shipowners
of Glasgow anticipate that portion of the
duty will come out OF their pockets.
The comments of the afternoon news
papers here follow the lead OF the morning
papers generally in anticipating that the
more acute irritation will soon pass over
The Irish newspapers condemn the income
tax feature OF the budget, and they think
the sugar duty will press specially hard
on Ireland owing TO the general poverty
OF the people. The Dublin Independent re-