The times., 1901-05-27

| Company have been fully met. 1t now re-
| mains for the stockholders of the Anal
! gamated Copper Company to vote on the
! proposition of the directors to increase
| the capital stock for the purpose of ex-
| changing the new shares for shares of
| the companies to be acquired, and this
| they Will do in week or so. Requests
! for proxies to be voted at the coming
| meeting gave the names of such stock
| holders of the Amalgamated Copper Com
pany as were not holders of stock in the
| properties that are to be acquired, for
| the express purpose that the board of d.
! rectors Of the Amalgamated Copper Com
! pany do not appear as altogether a cut
| and dried affair, as, of course, it is.
! L. r. Loree. ii is stated in weIl-informed
| railroad circles, viii be elected to the
! presidency of the Baltimore and Ohio
Railroad Company on Wednesday, taking
/ the place of Mr.. Cowen, who, it is said,
4 viii be retained by the Pennsylvania Rail-
| road interests, now controlling the Balti-
more and Ohio, in his former capacity of
/ counsel
The following table shows the condition
of the New York banks for the past week
as compared with the statement for the
May Is, '0l. May %, 'Ol.
Loans $50, ,5l2 100 ss5s, coo
Deposits 95l, ,626,I0O 94i 1I6.909
specie .-.---.-.--.....-. l16,SS3lO0 1SJ.oj7 200
Legal tenders ...-........ 54.SH5O0 20, $1,000
Circulation -.....-..-..-. 81, 10000 81 l04, 700
The following shows the relation be-
tween reserve and liabilities:
May Is, '0l May 25 'Ol
Specie SIG, 50 100 $50, ,067, 200
Legal tenders..-...--.-..- f4,3l,5O0 76,5Ol, ,oOo
Total reserve. .s25l, 60 $258, SOS 200
Reserve required against
deposits ............... 287,oo8675 2a5,27o,225
Surplus Of reserve over %
per cent............... SIS, ,299925 $2I, ,2ss 975
1t viii thus be seen that the surplus of
/ the reserve above the 25 per cent re-
Guired by law is 81, ,288, ,975, or s. 1883, ,O50
moro than il was for the previous week.
! ia the corresponding week of last year
there was a surplus of lSSl2, ,325 while
for the same week Of 1883 there was sur
/ plus of 1888 ,i26; in 1898 there was a sur
plus OF S53, tO4, go; in 1881 there was u sur
( plus OF Si5 99S, $50
In its review of the weeks business
/ the Coal Trade Journal said: I'm the
anthracite trade there is the steady
port OF tonnage going at the fun list
( price, and the demand above the supply,
althouSn thlS month IS bound TO be one
I of the good ones so far tonnage is
concerned. II therefore must be appar-
ent to anyone who has had the expert
ence that this branch Of the fuel trade
never has been in such good condition.
In the civil war times there was a good
demand for hard coal at prices which
were very profitable but the tonnage was
not one-fifth of what il is today An
!
other and an increasing source OF revenue
TO the hard coal people is the marketing
Of greater percentage Of the contents
of the seam. We are today selling at a
profit the coal hitherto sent TO the culm
hank, and there is, therefore, more money
| in the exploiting Of anthracite properties
at this time than ever before in the his
tory Of the industry. There are fewer
labor troubles in the anthracite region
than at any time in its history: one hears
of minor affairs one day, only to learn
that they have been settled the next AS
rule, there is no trouble in the soft
coal regions; the basis wages are paid
and output is larger than ever. The ef-
fort at Cancellation and arbitration con
tinues in all lines and there will come a
time, probably, when plan viii be agreed
upon. The cardiral principle underlying
this plan is that the surest way of avoid
ing industrial disturbances is through fun
and frank conferences between. employ
ers and workingmen."
The directors OF the Republic Iron and
Steel Company win meet in Chicago to-
day, when Il is expected the regular
quarterly dividend of IA per cent on the
preferred stock will be declared This divi-
dend will make the eighth consecutive
quarterly payment Of Ia per cent since
the company was formed two years ago
requiring no less than 81, So, ,966. the out
standing preferred stock being $40, ,305, 900.
Speculation continues rampant concern
ing the affairs Of the new Universal To-
bacco Company. So far no announce
ment has been made by its officials as to
the concerns and plants IL has purchased
for operation. Its capital stock is S10.-
eVJ.VJu, but assurances have been given
that the scope Of the new concern is very
much larger than the figures in the capt
talization Indicate. The reason-no aE-
nouncement has been made, according to
some Of the interested parties. is that ne
gotiatiOns are still pending for the pur-
chase Of some important plants and they
deem II unwiSe to give out any news un-
cd IN IN
the present time several plants have been
bought, and the transactions so far as
these companies are concerned has end
These purchases. it is stated, include a
Detroit plug tobacco company, two St.
LOUIS plants Kentucky plug plant, and
the cigarette enterprise with which the
new President Of the Universal Tobacco
Company, w. H. Butler. was connected
Statements have also been made that
The tobacco factory Of ID. II. McAlpin
q Co, which has been operated for many
years Independently of the Am iican To-
oacco Company and its ally. tie Conti-
mental Tobacco Company has passed into
control or the new company and will be
operated by it.
The presence of Ferdinand Hirsch. of
the Henry Clay-BOck Cigar Company, in
the directorate Of the Universal Tobacco
Company has been taken to mean that
his company may be included. This is
with the Clay-Bock Company and the
Universal Company. 1t is admitted that
the latter company will enter the Havana
cigar and cigarette business, and that
tobacco lands in Cuba are now being
acquired In its interests. one OF the
promoters in speaking of the project said
Saturday that a full statement Of the
affairs would be made as soon as some
OF the deals now pending were closed.
Its purpose, can tell" he added, rs
to enter the high-class tobacco trade. and
it will have ample capital to carry out
its designs"
When asked whether the company
would be absorbed by the American or
Continental Tobacco Company as the
Union Tobacco Company was absorbed a
few years ago. he replied there was no
Indication at the present time that such
a step would be taken. Directors of the
American Tobacco Company also stated
very positively that no merger with the
new company was contemplated