The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-03-25
TRADE, INDUSTRY, FINANCE.

III Is reported from Berlin tnat the "a
madam Railway Company has ordered
twenty locomotives from the Hartman ma
chine works at Chemnitz.
Ira Sax, banker at Quincy o., has as
signed to George Hahn and his bank is
The assets are estimated at 5000. A run
on the bank caused the failure.
President Roosevelt has made applica-
ton for membership in the Oyster Bay
Board of Trade, which was established re-
recently. With the application was check
for one years dues in advance.
The United States Steel Corporation on
Tuesday put in operation more than hfteen
hundred new coke ovens on Tug river,
pleted within thirty days. This will be the
greatest cooking field in the United States.
Stockholders of the Union Chain and
Steel Company have approved the recon-
mendation of the directors to reduce the au-
thorized capital stock from $6O.OOO.OOO to
$2,00O,00O. The proposed reduction follows a
recent decision of the company not to &C
quire number of kindred concerns Tor
which it was negotiating. 1t was also de-
cided to change the corporate title to the
Union Iron and Steel Company.
BY direction of William A. King, attorney
general of Connecticut an investigation
has been begun of the business methods OF
the Economy Development Company. a
which has had an office in New Haven,
Conn. That Office has been closed by an
attachment for claim of $50 The plan OF
the company Is to receive deposits from in
vestors who want to buy home.
c. E. Deal. E. ]. Boyles and w. H. Deal,
constituting the Glade Coal Company, OF
Meyersdale, Pa, have filed complaint with
the Interstate-commerce Commission that
the Baltimore & Ohio Railroad has beer
discriminating against the complainant in
the supply of cars and that its regulation
making an extra charge of 50 cents per ton
when coal is loaded into the cars from
wagons. instead of from tipples, is unjust.
1t was announced Tuesday that George
Harvey, president of Harvey Brothers, has
acquired the publishing and syndicate bust
ness of r.. H. Russell of New York, and
that Mr. Russell is to become associated
with the house of Harper q Brothers. In a
statement Mr.. Russell said his publishing
business was to go to Harper Brothers
and his syndicate business to a syndicate
company which Colonel Harvey is about to
form.
The official statement on Germany's for
eign trade for January and February gives
the following figures: Imports, 6,23S, S6s
tons, an increase of 74S,791 tons compared
with the same months of 1902; exports, 81
SIC, 14S tons. an increase of l.O47,6ll tons. The
imports of grain showed an increase OF
107, 500 tons. Exports of iron amounted to
sos. 140 TONS being an increase OF IS. l37 tons.
Sugar exports totaled 132, 129 tons. being q
decrease of 1858 tons.
Judge Halsey in the Circuit Court at Mil
waukee, has rendered an important opinion,
TO the effect that so-called blacklists are
privileged communications. The libel suit
of Valentine Gerhardt against Armour &
representative of the combination of pack
ers, for $1,000 was nonsuited. 1t will be
appealed to the Supreme Court. Gerhardt
brought suit for damages after he had been
refused a supply of meat because pre-
vious bill had not been paid.
The directors of the Temple Iron Com
pany which In made up Of the anthracite
coal mining roads, on Tuesday held their
first meeting since the findings of the ar
bitration were announced. President Baer
was reelected. S. b. Thorne rendered his
resignation as general manager and Frank
Hennelreich was promoted to be general
of general manager. A. +. Law, who has
been secretary, has been promoted to be
vice president and treasurer. Nothing was
done regarding the fixing of spring prices
for coal. the schedule not yet having been
arranged.
An agreement has been signed between
the Dominion government and the Allan
line for the establishment of a subsidized
fast service between Canada and Glasgow
and Liverpool. The agreement stipulates
that the steamers are to make at least
twenty-one knots, and specifications for a
large steamer of this speed are now being
prepared The vessels will be built on the
Clyde-on-the-Tyne and at Belfast. The
service will be started within two years.
To facilitate the carrying out OF the con-
tract an important agreement. has been
entered into between the Allan line and the
Grand Trunk Railroad of Canada.
President Schwab of the United States
Steel Corporation returned to New York
Tuesday and called at the Office of Harris.
W. Gates. Mr. Sohwab had nothing to say
for publication, except to repeat his denial
of the rumor that his visit to Pittsburg
had any connection with the reported pur-
chase of the Jones & Laughlin plant.
Mr. Gates declined to discuss the many
stories with VIII n his name had been con-
- III.
which controls in large part the financial
operations of the steel corporation author
lied an unqualified denial of the report that
it is the purpose of the corporation to pur-
chase the Jones & Laughlin properties.
One hundred and sixty importers whole
salers and retailers of tea throughout the
country, have united to form the National
Tea Association of the United States. The
objects of the association are declared to
be the support of the law of 1897 forbidding
the importation of impure, spurious or
worthless teas, and the promotion of the
consumption of tea in the United States by
disseminating information I'm regard to its
quality and the proper methods of its prep
aration. The association also will promote
the interests of its members In any way
that the future may develop In such direc-
tions as the securing of lower rates from
the railroads for the transportation of tea.
The promoters of the association say that
character and that no interference with the
business methods Of its members is con-
templated.
William N Amory, at the hearing on
the charge of criminal libel made by him
against H. III. Vreeland, of the Metropoli-
tan Street-railway Company, declared on
Tuesday, in the Center-street Court, New
York that his only business for a year had
been investigating the financial condition
of this company. He admitted that he did
not hold any stock or bonds of the COM
pany. The charge made by Mr.. Amory
is a result of statement issued by Mr.
Vreeland after publicity had been given to
an attack upon the Metropolitan Street.
railway Company, in which 1t was alleged
and that dividends had been illegally paid.
In this statement Mr.. Vreeland charged
Mr. Amory with responsibility for the at
tack on the railroad and referred to him as
a notorious character" Mr.. Vreeland did
not appear in court, but was represented
by former District Attorney Nicoll.