The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-07


The Northern Securities Company has is
sued circular repeating its offer TO ex-
change it's stock for the stock of the Great
Northern Railway Company on the basis
of $50 of Northern Securities STOCK Tor 1Vu
of Great Northern stock.
The spinners OF the American Wooden
Company's Assabet mills at Maynard.
Mass, struck yesterday as protest against
a new price list put In effect two weeks
ago. About 100 hands quit. forcing sus-
pension of operations in several OF other
departments.
The directors of the American Car and
Foundry Company have declared a quar-
terry dividend of per cent. on the common
stock. This is increase of one-half of
/ per cent. The regular quarterly dividend
of ia per cent. on the preferred was de-
clared.
The stockholders of the Equitable Trust
Company of New York have increased the
capital stock from 100000 TO 100000 The
new stock is to be issued at $500 per share
Thirteen new directors were elected, in
GLIDING Chauncey NJ. Depew. Clarence A.
Mackay, c. William Van Horn. ]. L. Dry
den and Charles Francis Adams.
At the annual meeting of the stockholders
of the Pacific Express Company the fol-
lowing officers and directors were re-
elected: James Eggleston, president; Hor-
ace CT. Burt, vice president; Erastus Young.
auditor; L. b. Prior. j. Ramsey. jr., 5 b.
SCHUYLER and c.. G.. Warner, directors The
11A per cent quarterly dividend was de-
clared.
Richard Hyde. president of the Hyde &
Behman Co, New York. announced yes
Phipps lot of ground in Pittsburg for
new theater. The site has a frontage of
twenty-five feet on Sixth street for an en-
trance and a frontage OF 100 feet on Du-
quesne way and 160 feet on Parker's ave-
nue.. Work on the new building will be be-
gun about May /.
George s. Davis. of Detroit, for many
years member of the drug firm of Park,
nQxyi a. NJ has cd m
tary bankruptcy. The amount of his debts
is given as $244,3l6, with assets amounting
TO $5,140. The largest debt consists of six
notes given to Park, Davis & Co. aggregat-
ing ,506 Mr.. Davis has not been a men,
Der of the firm for several years. He is
now president and treasurer of the CONT
mental Varnish and Paint Company of De-
troit
Judge Baker, at Chicago, declined to
grant a temporary injunction in the suit
brought by State Insurance Superintendent
Yates to restrain Twenty-Five insurance
companies and their agents from doing
business in Illinois, 1t : was charged
that the corporations in question had failed
to comply with the rules prescribed by law
for carrying on fire insurance business in
Illinois and that the methods adopted by
each of them were chosen as devices to
evade the insurance laws of Illinois and all
other States and Territories.
The Copper Bell Mining Company, of Vir-
ginia, with headquarters in New York; and
capitalized at $l,0OO000, is in financial diff
culties and receiver has been appointed
on petition of NJ. a. Newmark & Co, of
Los Angeles. The company owns mines a
smelter, a store, etc, in Gleason A. L. A.
h Emanuel has been appointed receiver
by Judge Davis, of Nogales, and will take
charge of the affairs of the company. The
concern has been involved since last July
and the indebtedness exceeds 500 900. Many
stockholders are Eastern people Of small
means.
According to present indications there will
be considerably more citrus fruit shipped
out of southern California this year than
last The lemon crop is lighter, but the
shortage will be more than Offset by the
additional output of oranges. The season
has been exceptionally favorable for good
orange growing, and there have been no Sc
rious frosts to damage the crop. The pick
ing is now well under way. Up to last week
about 1,S00 carloads of oranges had been
shipped east from Los Angeles and vicin-
ity and LOO carloads from points north of
Tehachapi. The seasons output from
southern California is expected to be from
p, 900 to $4,000 carloads.
The directors of the United States Steel
Corporation yesterday declared the regular
quarterly dividend of i per cent. on the
common and Ia on the preferred stocks A
financial statement was issued showing net
earnings for the calendar year. with De-
cember estimated of $l32, &C., 900. The net
earnings for the quarter ended Dec 81 were
s3l .339 ,61S. an increase of s1,579. 200 as COM
pared with the same period of 1901. The
transfer books close for the preferred divi-
dend on Jan. 20 and for the common on
March 16. From the net earnings for the
year deductions are made OF $24. SIS, 1873 for
sinking funds, depreciation and reserve
funds and for a special fund set aside for
depreciation and improvements, of SIS, 200 900
for interest on bonds, of So 040,O 900 on sinking
funds for bonds and of s56.O52. $50 for in
terest on the stocks. These deductions
leave undivided profits amounting to $685.
.56o for the year. applicable to increase
depreciation and reserve fund accounts for
new construction or surplus The cash on
hand is $54. IA. 106 The board approved the
plan reported by the finance committee
for profit sharing and subscription to stock
by the employees. Within three DAYS after
opportunity to subscribe was given up
wards of 5000 shares were subscribed for.