The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-06-20
A AND INDUSTRY.

The directors of the American Telephone
Company have declared a regular quarter
ly dividend of IL per cent. and an extra
dividend of Il per cent.
The Pennsylvania Land and Lumber
Company, with a capital stock OF 81, 800, coo.
was Incorporated at Camden, N. j., yes
terday. The company will operate in
Mexico.
There are over eight thousand acres of
cotton planted this year in Nicaragua. The
planters now estimate that they will be
able TO sell the product at Az cents per
pound, Nicaragua currency, or about IL
cents gold at the present rate OF exchange.
The Lorain (O) Street-car Company will
reduce fares from 5 to 3 cents on Friday
as an experiment. Mayor Tom l.. Johnson,
of Cleveland, said last night that he holds
but one share of the stock in the company,
and is not entitled to credit for the reduc-
ton.
AT a meeting Of several owners of Ken
lucky oil lands, at Lexington last night,
plans for the consolidation of the oil inter
estS OF the State were considered. The
presence of oil in paying quantities has
been established in Wayne, Pulaski, Knox
and Bath counties.
The Star Journal, of Pueblo, Col, says:
1.-The Colorado Fuel and Iron Company will
remain an Independent corporation. Word
has been received here that President
Schwab, of the United States Steel Cor
poration, emphatically states his corpora
ton never had any intention Of absorbing
the Colorado company"
The stockholders of the East Liverpool
co. Factories Company, a new concern
! with 100000 capital. controlling three
plants, elected directors yesterday, who
organized as follows: G.. G.. Murphy, pres
ident; n. A. Frederick, vice president; Z.
j. Owens, secretary, and Robert Il. Hall,
treasurer. The other directors are George
w. Meredith and John j. P~urington.
The engineers of the isthmian canal COM
mission, after borings, have condemned
two of the proposed sites for the dam
across the San Juan river in the event of
an interoceanic canal being constructed.
convenient site. At this point a stratum OF
rock extends across the river, a few feet
below the bed, and extends into the banks
on each side.
The capital stock of the Youngstown Iron
and Tube Company is to be increased from
81, 000.0 900 to 1000. 600 to provide for extensive
additions to the immense plant which the
company is now erecting there. The COM
pany has decided to manufacture steel as
we'll as iron and will erect two large blast
furnaces to supply the plant with material.
When the plant is in full operation $500
men Will be employed.
Judge Hallet, in the United States Circuit
Court at Denver, rendered Judgment in the
case of the Mum Brothers against the
hex Mining Company, by which the plain
tiffs may secure more than $~1,OOO,000 from
the owners of the hex group of mines at
Leadville. The plaintiffs claimed a half in
terest in the Independents lode of the Arch
( L IN 1VAlI "a DIP
proXimately one-twelfth of the ores ex-
tracted and sold in the area in controversy.
The New York Herald says: ut was re-
ported Wednesday that the General Elec-
trio Company has practically completed
negotiations for the purchase of the Brit
iSh ThomSon-HouStOn Company, a separate
but allied corporation formed some years
ago as the licensee of the old Thomson
Houston Company of Boston. The purchase
of the company will be for the purpose of
entering actively into the English electrical
field which now gives promise of great de-
velopment.
The secretary of state of West Virginia
announces the issuance of a charter to the
Vulcan Consolidated Copper Company with
a capital of 5000, 900. This company, IL is
said, Will purchase and operate the Vulcan
copper mines in Esmeralda county, Ne
vada, and will from time TO time acquire
other mines. Henry Siegel. of New York.
is to be president, j. A. Bamberger, of Salt
Lake City, is to be the vice president, and
Charles Z. Champion is TO be the secretary
of the new company.
Justice Mclean continued taking testi-
mony in the Supreme Court at New York
yesterday in the suit brought by Prof. Geo.
a. Treadwell against VIM. A. Clark to re-
cover 100 shares Of the stock of the United
Verde Copper Company. Charles II. De-
mund told of having gone with Professor
Treadwell TO see Senator Clark and of hav-
ing made a formal demand for the return
of the certificates. Professor Treadwell
was recalled. He said he did not authorize
Thomas. the London grocer, TO dispose of
his stock.