The Indianapolis journal., 1903-04-24
TRADE, INDUSTRY, FINANCE.

The amount of and per cent. bonds
exchanged to date for per cent. consols
under the recent offer OF the secretary OF
the treasury is SAB. $50.
The directors of the Northern Pacific Rail-
road have declared the regular quarterly
dividend Of 11s per cent, payable May l. In
February the dividend was I1s per cent.
regular and half of per cent. extra
owing to the requests of many colonists
who are coming to California to live the
Southern Pacific and Its connections have
decided to make low tariff on household
goods in small lots shipped from the East.
The Treasury Department on Thursday
purchased on account of Philippine coinage
25O,000 ounces of silver at ST. cents an
ounce This increase In price is due to
the advance in London. The total purchase
TO date is 2,Sl7,900 ounces.
The steamer China has brought to San
Francisco one of the largest shipments of
opium that has ever come from the Orient.
1t consisted of SIS cases of 49, AIS pounds. on
which the duty amounted to 800, 490. The
commercial value of the opium is about
$534, $40.
1t is reported at Pensacola, Fla, that
the deal for the sale of the two big lumber
mills of Simpson & Co. at Bagdad; togeth-
er with towboats, barges and 100000 acres
of virgin timber. has been closed. Illinois
and Michigan capitalists are the purchas-
ers. They have had an option on 1T for two
months.
The board of directors of the William p
Cramp Ship and Engine-building Company
has approved the plan to secure a loan of
$5000,000 to meet present needs. The ques-
tion of electing voting trustees was not de-
cided and none of the directors resigned. No
arrangements were made to issue stock to
meet the bonus on the loan.
committee of Ave, representing twenty
independent cotton-oil plants in Georgia
and Alabama, was looking over sites for a
large cotton-oil refinery at Columbus, o.,
Thursday. to cost half a million dollars.
They were shown several desirable sites. 1t
hoS hcov cd hof OK Snlr ,1>afS rsY
Albany, Ga, will get the refinery.
w. A. Shoemaker, representing a New
York syndicate, is in Pittsburg with prop
osition to lease the waterworks of that city
says 100000 is back of the enterprise. 1t is
proposed to provide Pittsburg with filtered
water, install meters and to pay the city at
least 100000 year for operating the water
system. The city Will be given an option to
take back the plant at the end of ten years
If the service is not satisfactory to the tax
payers.
The embarrassment of the White Noun
tain Paper Company, at Portsmouth, N H,
which was organized with an authorised
capital of s10O0O,000 bonds, $5,000.000 pre-
ferred stock and $10000.o00 common stock
underwriters of 81 900 cash requirements
to make good their pledges. Receiver Dom
ovan Is the head Of a New York and Phila-
delphia syndicate OF capitalists VINO % IN have
new money with which to complete the en-
terprise. and plan of reorganization has
been prepared.
The Blue Creek Coal and Land Company,
capital stock $1,000, ,0Oo. was formed at
Scranton, Pa, on Wednesday. Edward 8.
Jones, of Scranton, Is president and ex-
Governor w. A. McCorkle. of West Virginia
vice president. The company is Incorporated
under the laws Of West Virginia. 1t has
5000 acres of coal and timber lands In Ka-
nawha county, West Virginia. The Imboden
& Odwell Railroad Company, capital $780,
900, was also formed to bufld and operate
forty-three miles of railroad on the tract
The same officers and directors govern both
companies 0 vfet t3t 49,
The British consul at Chicago, W. Wynd-
ham, in his annual report on Chicago and
the whole consular district, gives glowing
account of the great and increasing pros
perity thereof, and pays high tributes to
American methods. He expresses the opin-
ion that the progress of the country is large
ly due to "the opportunity, both in business
and In employment In this large young
country, the encouragement given to work.
men, the rewarding of merit, the intimate
acquaintance of the heads OF firms with
the work of their subordinates, the keen
enthusiasm shown by the workmen In the
interests of their employers, and TO the alb
solute fearlessness on the part OF the busi-
ness man In venturing on experiments
either In machinery or system, that might
be brought before him.