The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-02-21
INDUSTRY. CAPITAL. LABOR.

INDUSTRY, CAPITAL, LABOR.
The Goplay Cement Company of Allen
syndicate for over 81. 000,o0
The stockholders of the Westinghouse
Electric Company met at Pittsburg yester-
day and decided to increase the capital
stock $10,0 00, 600.
The small pulp and paper mills of Ontario
and Quebec are TO be placed under one
management. This is the first step in the
direction of forming a big trust.
The American Sugar Refining Company
announces that guarantees will be with
drawn at the end of the thirty-day con-
tract limit on any or all portions Of con-
tracts not regularly taken out
/ Yesterdays session OF the ninth annual
convention of the National Creamery But
ter Makers Association at st. Paul was
devoted to technical papers. The conven-
ton adopted resolutions favoring the Grout
bill, now pending in Congress.
President Shaffer. OF the Amalgamated
Association of Iron and Steel Workers.
states that the report that he is going TO
New York with a committee to see Mr..
Carnegie and persuade him to have a clause
inserted in the transfer of his holdings per-
hitting the organization of the employees
of the proposed steel combine is untrue.
The American Linseed Oil Company filed
a $6,O00.Wo mortgage In the county re-
ccruers office at Chicago yesterday. The
mortgage is in favor of the Morton Trust
Company of New York and tuns for i've
years. The money is to be used to retire
current Indebtedness. The mortgage covers
forty-four mills located in thirteen Diff
terent States.
Judge Clancy has issued an order at
Butte restraining the Boston and Montana
company from further operating the Co
manche mine, pending a hearing of a pre-
| vious order issued by him and directing the
Boston and Montana to show why that
company should not be restrained from
working the property pending the result or
a SUIT brought by Adolph WerZstein.
At a meeting of the stockholders of the
| Westinghouse Electric Company yesterday
1t was decided to INCREASE the capital stock
100000 making the total authorized
issue $751; 900, including the 100000 first
preferred. 1t is not proposed TO sell more
than $1,000 DOC of the authorized new stock
at this time. A financial statement sub
United showed a surplus of 1855, 600.
George Adam Rensselaer,, of Hamilton,
o., has purchased the Reilly and Campbell
blocks OF that city, which were sold at
auction under a decree of the United States
Court on foreclosure obtained by w. +.
Jones, of New York. Tbs property was
part of the estate of Major e. G. Rath-
Reilly block sold for SOL. 800 and the Camp
bell block for $50. $50. A former sale was
set aside by the courts.
The directors of the Cedar Point Pleasure
Resort Company, at a meeting held In
Sandusky, o., decided definitely not TO open
the resort the coming summer. IL is stated
this action was forced by the opposition of
LIZ AfN hoo ACANN1
the closing of saloons and theaters on
Sundays. The action is a blow TO San
dusky, as it means that it will lose most of
its excursion business at a cost OF thou
sands of dollars to business men.
The question of the right OF the State
| to tax the intangible property of corpora
tons, which has been pending In the Court
of Civil Appeals, in Texas, for some time.
was yesterday decided in the case of the
State against the Austin &
Railroad Company. which came up from
fha DfStriof Court from Travis cnrInfV
The case was affirmed, thereby agreeing
with the lower court that the intangible
property of a corporation is taxable
A deal has practically been completed for
the purchase of the Columbus. Buckeye
Lake Sc Newark Traction Company.
which was organized about a year ago and
Incorporated for 81, 600. 900 by General II. A.
Warner, of Marie,.a, Pomerene Bros, CT
| Coshocton. and Michael Spellacy and Others
I of Columbus. This road will run from Co
lumbus to Newark. 1t is SAID that the rev
owners will work in close armOn with
the Columbus, London & Springfield road,
and a consolidation is limited at.
Articles of Incorporation of John p.
Squire & Co, with an authorized capital of
OF the stock s ,5O0, 600 is preferred, with 6
per cent. cumulative dividend. The COM
pany is organized to acquire the business
Of John p. Squire & Co., of Boston. and
about twenty other corporations located in
the East and doing a business of meat and
pork packing and handling provisions. The
- 10 6i2o ~
raiser cattle, swine and to do a butchering
and refrigerating business.
A marvellous system Of State canals, the
boats to be run by electricity and to be ~
feet Ions by % feet wide, with a draft OF
ten feet, and to travel in fleets going from
Albany to Buffalo in less than three days,
is the plan presented by State Engineer
Bond and a board of engineers to Governor
Odell of New York. The system is TO be
built for s7.eo0.Oo0 less than the amount
proposed by the canal commission appoint
ed by Governor Roosevelt. The canals
will be able to carry 15.O0O.0O0 tons of
freight in a season of seven months.
Higher prices and heavier transactions
al around characterize the iron and steel
markets for the past week. Pig iron was
of Is cents a ton till now the lowest price is
$14.75. Pittsburg. for substantial contracts
and SIS on spot transactions, which Is an
advance of 81 and more over the week be-
fore. Muck bar was advanced 81 a ton. and
at the higher a record tonnage was placed
in the week. The sales amounted to 5000
tons. In a general substantial way the
markets have added more strength in the
past week than in a like period for months.
Judge Rufus 3. Smith. of the Superior
Court at Cincinnati, has rendered a de-
cision that is regarded as important in its
bearing on trusts. Elias Block & Sons.
Kentucky distillers. shut w their manu-
factory under a contract with the whisky
trust, by which the latter agreed TO furnish
Block q Sons all their goods and pay them
81, 300 a month in addition. The trust be-
came in default for $4,000 under this con-
tract and suit was brought to recover. The
whisky trust filed a demurrer, alleging that
the contract was illegal. The demurrer is
contract apparently Illegal is only an in
cident to a large contract which is legal.
then the first contract will stand as a cir
cumstance.