The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-02


gone into effect at the plant of the Pas
sale On. j. Steel Company.
Because of 10 per cent. reduction 200
employees of the North Reading Pa) plant
of the Reading Foundry Company quit
work yesterday.
The Chicago & Alton road has announced
a reduction in pay of section hands, the
new rate being S1.25 per day of nine hours
The former rate was Sl.40
The Western Union telegraph messengers
struck at Richmond, Va, Tuesday against
a reduction of wages. The company Is
filling their places with negroes.
A reduction of 10 per cent in the wages
of the employees of the Sharon (Pa) plant
| of the American Steel Foundries Company
went into effect Tuesday. About 600 men
are affected.
Iron and Steel Company in Reading. Pa,
yesterday resumed work on full time for
| the first time in five months The plant
has been running on half time.
| Colonel Howard, general foreman of the
| Wabash carshops in Toledo, yesterday re.
! ceived orders to reduce the force in the local
shops 10 per cent. One hundred men are af-
fected- The shop is two months behind in
its work
Forty-five hundred bales of Southern cot
ton. the largest shipment ever carried on
the Nippon Yusen Kaisha boats from Seat
| tie, will leave on the Rio Jun Mar this
| morning. 1t is worth about $25O,000. The
vessel also takes 1900 tons of flour, worth
$4,000.
A big deal, involving the consolidation of
| twenty coal mines in southern Kentucky
| and northern Michigan, is in contemplation
]. s. Stearns, of Ludngton. Mich. Is at
the head of the venture The Stearns Coal
| coal and timber lands in the Somerset dis
| trict.
The rates on finished export steel were
yesterday reduced 50 1-3 per cent. between
| Cleveland and the East also between all
the iron and steel-producing centers and
the seaboard. The aim of this reduction is
TO enable steelmakers to go into the for
| eign markets in opposition to foreign steel
| producers.
Farmers representing ten States gathered
| at the Grand Pacific Hotel. in Chicago.
| Tuesday to discuss plan OF merging their
local bodies into one national organiza-
ton, with a view to securing better prices
for products. Among the speakers was w.
+. Hendricks. president of an organiza-
ton in Oklahoma and southern Kansas.
| l.. d. Day also spoke
Inability of the Mexican Central Railway
to carry to success it's plan to retire its
income bonds, amounting to approximately
SO, 900 900, has been announced. The fall
ure of the plan. which was intended as the
first step in the reorganization of the COM
pany's finances, was due TO the opposition
of two bondholders' protective committees,
each acting Independently of the other.
The grievance board of the Brotherhood
of Locomotive Firemen of the Chicago,
Rock Island & Pacific Railroad yesterday
called on Acting Manager j. r. Stevens,
at Chicago, and presented a lengthy docl-
ment. This fact has given rise to a report
that demands for increased wages and i'm
proved working conditions. decided on sew
eral months ago at a conference here, have
been submitted.
Stacks Nos. / and 8, at the Ohio works
of the Carnegie Company at Youngstown,
o., were put in operation Monday night,
after being banked month to reduce the
output of pig iron, as per agreement be-
tween the independent and association OPP
orators. About 800 employees returned to
work. 1t is expected that operations will
be resumed within a few days at No. z
stack, and that No. will follow as soon
as completed.
Papers filed for new companies in the
Eastern States with capital of S,O00,0Ol
or more in November represented a total OF
only $50, 100000. This is the smallest aggre-
| gate for any month in a series of years
the nearest approach being $5l,45O.O00 in
August, 1901. Pennsylvania headed the list
of States with capital of SIS. 10000. New
Jersey is represented to the extent of only
$3.50 600, the smallest total for the latter
| State in many years.
The Indian Territory Illuminating Oil
Company, that owns and controls the great
lease of the entire Usage reservation, ap-
| proximately 100000 acres of valuable oil
and gas fields. has at last settled the litiga-
. | ton in the West and East which employed
the time for the courts of New Jersey, Del.
aware and Oklahoma for the last year. Ir
Judge Hayner's court at Perry, o. T., yes
| terday the final act in the matter of the
settlement received the signature of the
court.
In the United States District Court al
Denver yesterday Judge Riner dismissed the
suit of the Stratton Independence Company
limited, of London, against the Strong Colo
| Mining Company, the lftigan<s having eff
| fected all agreement out of court. The
| Stratton Company accepted SIS, 500 in lieu OF
81. 10000 for which 1t sued, full payment
for all damages for the extraction OF or,
from its territory in Cripple Creek by the
Strong Company. A boundary line between
the property has also been agreed on.
An effort is being made to obtain con
mated Association of Iron, Steel and Til
| manufacturers to meet the competition Of
nonunion mills, particularly in the shee
branch. The Importance of early con
yention of sheet workers was urged ant
Dec 10 fixed. Among the principal matter.
for which the convention has been called /:
: that of removing the limit of production
: provided for In the Amalgamated scale.
Judge NJ. w. Acheson, in the United
States Circuit Court at Pittsourg, has
issued an order authorizing Receiver Johr
b. Cunningham, of the Federal Nationa
! Bank, to sell and transfer to syndicat.
! of Pittsburgers 1850 shares Of stock In tn.
First National Bank of Allegheny. which
: was owned by the Federal National Banl
when the Federal Bank closed its doors
The First National Bank of Allegheny alss
was compelled to suspend payment on &C
count of the close connections between tn,
J two concerns. Ii Is now proposed by thu
3 | syndicate to sever all relations with tn,
Federal institutions and reopen next Thurs