The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-09
TRADE. INDUSTRY, LABOR.

Columbus. Ohio. was yesterday chosen
as the next convention city for the Gus
tom Cutters Association at its convention
in st. Paul.
With the production of 16.239s sos barrels
of flour in 1902 Minneapolis passed every
previous record, the output being 4OI ,9o5
barrels more than that of 1901, which held
the record.
the National Board of Trade will be held
at the Shoreham Hotel. Washington, COM
mencing Tuesday, Jan. IL, and will continue
three or four days.
the. statement that it does not own or con-
troll any part of the producing territory OF
either the Beaumont oil field in Texas or
the Jennings field In Louisiana and has
never sought to do so.
Henry B. Lockwood, board member OF the
New York Stock Exchange firm of Lock-
wood, Hurd & Co, who suspended at the
time of the downfall of the Webb-Meyers
syndicate in the spring of last year, has
been reinstated to membership in the ex-
change.
James w. Neff, promoter. of Cincinnati,
o. who formerly lived at Xenia, o., has
filed voluntary plea In bankruptcy in the
United States Court. His liabilities are s44,-
176 and he has no assets. His heaviest
creditor is c. II. Brayton, of Cleveland TO
whom he owes $4,000.
A mortgage was filed Thursday by the
Newport News Shipbuilding and Dry Dock
Company conveying TO the Union Trust
Company of New York real estate owned
by the company, including the dry docks,
machinery and shipyard. to secure an issue
of S5,OO0.O 900 in bonds authorized by the d.
rectors.
Joseph E. Schwab, who returned re-
Gently from visit abroad, announced that
his brother. Charles M. Schwab, president
has fully recovered from his recent i'll
health and that he intends to return to the
United States early In March and resume
- ~ s.+1 Il -
nation.
Thomas Duffy president of the United
Mine Workers of the Seventh district, since
the establishment of the organization at
Hazleton, Pa, six years ago. was defeat
ed for reelection yesterday by William
Dettray, member of the district execu-
tive board. p. G. Gallagher, of Freeland.
a member of the national executive board.
was reelected
An announcement of an advance of 81 per
ton in the price of strawboard was made
Yesterday by the United Box Board Com
pany through its subsidiary, the American
strawboard COMPANY %. This brings ss the price
$40 i'm the East. The reason assigned for
the advance is the increased price of coal
and of paper STOCK
The Pittsburg Chronicle Telegraph says
the result of the secret meeting of independ-
ent sheet and tin-plate interests held last
week has just leaked out. 1t is proposed
to consolidate all the Independent interests.
properties. build blast furnaces and large
bessemer steel plan TO furnish steel TO the
finishing mills of the consolidation.
The $4,000, 600 pool formed in December
last by j. p. Morgan q Co, the First Ma
tional Bank, the National City Bank and
other large financial institutions of New
York city to prevent the threatened money
stringency has been dissolved In the lam
guage of a leading banker there is mo
longer any reason for its existence" The
uool was not called upon for assistance al
any time.
President John /. Beggs. of the Milwau-
kee Electric Railway and Light. Company,
has Informed the motormen and conduc-
tors of the system that beginning with
Ian. their wages would be increased
cent per hour. The scale will range from
10 10 % cents per hour, according to the
number of years of service with the COM
pany The Increase in the aggregate will
amount 10 $4,000 per year.
At a meeting of the Cumberland Tele-
phone and Telegraph Company's stockhold-
ers at Hopkinsville. KY, the nominal head
quarters of the company, il was voted 10
increase the capital stock from ten 10
twenty million dollars. The additional funds
will be used in building new lines through
out Kentucky, Tennessee and other States
| in acquiring property and general improve
ments for the interstate system.
| An official OF the United States Steel Cor
poration reports that applications TO the
amount OF 26.4 400 shares have thus far beer
made by over 1900 employees who wish Il
avail themselves of the profit-sharing plan