The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-05-07
TRADE AND INDUSTRY.

The offerings of three and four per cent.
bonds to date under the recent reminding
circular of the Secretary Of the Treasury
aggregate $61. 259, $50.
dispatch from Osnabruek. Prussia. says
syndicate OF American firms, with a
capital of $4,000. Is erecting a factory
there for the manufacture of Photographic
paper.
Reports from State conventions of Mod
ern Woodmen of America in Illinois, Iowa
and Wisconsin Indicate that sentiment is
strong against readjustment of the rate
system.
The other New York trust companies,
the New York Security and Trust and the
Mercantile Trust. have formally decided
to withdraw from their clearing house con-
nections.
Because Of heavy losses suffered during
the last few years the stockholders of the
Commercial National Bank of Providence,
r. l.. have voted to place the institution
in liquidation. The Commercial Bank which
was founded In 1888, has capital Of ST.
100000.
1t is stated at New York that negotia-
tons have been almost completed to float
a Mexican loan, ostensibly in this country
but really abroad. The amount Of the loan
will be less than $25,OO0,000 and will, IL Is
bond. The money viii be used for public
improvements.
Official announcement was made Wednes-
day that the special meeting of the stock
holders of the Detroit Southern Railroad
Company to vote on the increase of stock
will be held in New York May %. The
contemplated increase is from Sc, 500 900 pre-
ferred and $lO.5OO,OO0 common stock to $10,-
100000 preferred and sl6.ooo.OO0 common
stock.
On bill filed by Richard Sperry against
his partner, Charles H. Jones, a receiver
was appointed for the banking and broker
age firm Of Sperry, Jones & Co.. Baltimore.
The firm says the suspension was due to
valuable assets that are tied up, and that
they were unable to meet obligations on
account of a tight money market. The
are over 100000. and that the unsecured
obligations do not exceed $4,000.
w. j. Slater, manager of the Louisville
office of the Postal Telegraph Cable Com
psny has ,s, been appointed superinssndent
ern division. The appointment will take
effect June !, when the new district will be
created, with Louisville headquarters.
The district covers all save one line in
Kentucky and part of Tennessee. Mr..
Slater, before going to Louisville, was chief
operator at the Washington Postal office.
Arrangements have been made to hold
the annual wage conference between the
American Tin Plate Company and the
Amalgamated Association scale committee
in New York next Tuesday. No advance
In the general scale is being asked by
the workers, but a number of new features
have been introduced, which may be OPP
posed by the company. change in the
present system for providing for the re-
export trade likely will be made as the
present arrangement. which has been in
force for several months, has not given
general satisfaction.
Representatives OF process butter manu-
facturers, including the territory from the
Mississippi river east have organized al
a meeting in Toledo and elected the fol-
lowing officers: A. G. Westling, Kenton
o., president; A. 8. Kreps. Lima, o., vice
president; Thomas +. Walsh Cleveland, o.,
secretary and treasurer; J. j. Coon and s.
j. Bailey. Toledo; b. F. Murdoch, Column
bus; G. Z. Thomas, Lima. and j. A. Baird
Manufacturers. The company will incor-
porate under the laws OF Ohio and will
seek TO reduce the price OF raw stock Il
maintain steady prices. The strongest
efforts will be directed toward the removal
of the 2-cent internal revenue tax.