The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-02-11
New York Letter.

lions, then the country is now in the
most phenomenal state of prosperity
Notwithstanding the enormous capacity
OF the plants of the United States Steel
corporation and the independent concerns,
such as the Colorado Fuel and Iron COM
pany, Tennessee Coal and Iron, SIoss-
Sheffield, Republic Iron Steel, etc the
consumptve demand is so great that steel
billets and steel rails will be imported in
large quantities from Europe during the
present year. The plants of the United
States Steel corporation which manufac-
ture billets cannot turn. out more than
enough to supply the demands Of the
Or departments Of the trust which
make finished steel products from the bill
let's. Many outside non-prOducing con-
Germs, which have heretofore depended
upon the steel trust for billets, have been
cut off entirely, and are now seeking their
necessary supplies abroad. This condi-
ton has been so much intensified during
the past few days that it was semi-offi-
cially annGunced yesterday that the steel
trust itself was in the market for fora
eign-made billets.
New YOrk-Jersey Trolley TunneI-~
Although 1t was announced some tAze
ago that the Jersey trolleys wouI~ enter
the city by tunnel under the North
river, 1t was learned yesterday where
the terminal station on this side would
be situated. The obtaining Of options
on real estate in the blocks east and
south Of the Appraisers Stores, and
bounded by Greenwich, Washington Nor
ton and Barrow streets, has been going
on quietly for several weeks. The project
so far as the North river is concerned
is as ambitious as that Of ,Ae PennsyI-
vania Railroad company. The cars will
be run by electricity and will have
double equipmenI-an overhead trolley
pole to be used on the surface in New
Jersey and in the tunnel third rail- or
a slot system, like that now used by the
Metropolitan Street Railway company.
An immense terminal station will be built
on the property on which the options
have been secured.
Tourists in Convict Stripes
Forty-six United States prisoners,
dressed in the customary striped convict
suits, attracted no little attention yester-
day at the Grand Central depot and at
he Pennsylvania roads depots in Jersey
City. The men were in charge of the
Uniteu States marshals from the Eastern,
Northern and Southern United States
court districts Of the state of New York,
and were en- route to Atlanta, Ca, where
they are to be confined in the new Fed
eral prison which has just been completed
at that place. They comprised all Of
the Federal prisoners in New York state,
and who have for a time been in Sing
between the state Of New York and the
government. The new prison in Atlanta,
it is stated, will accommodate all the
prisoners of the Federal courts in the
Eastern states, who are shortly to be
removed there. The prisoners were pIac-
ed on a Pennsylvania train, in charge
Of sixteen deputy marshals.
Thirty Million Security Company
The details of the proposed new secur-
tiles company, to finance a new Issue Of
$20000,O00 Of stock to electrically equip
about 100 miles Of horse car lines in the
borough of Manhattan, will be sent out
next Wednesday or Thursday to the
stockholders of the Metropolitan Street
Railway company. Kuhn, Loeb & Co.
will conduct the financial operations nee
essary to the flotation of the new secur-
tiles. The plan does not for the time be-
ing contemplate the merger of either the
Manhattan H." the subway or the
Brooklyn Rapid Transit lines, although
for the sake of legality the securities
company will acquire a street railway
line in the city of New York There
will be new and important New York
interests in the new company.