The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-03
TRADE, INDUSTRY, LABOR.

The Ohio Fuel Supply Company has just
drilled a gas well in the Homer field in
Licking county. The well has a daily ca
pacity Of 100000 cubic feet.
The price of soft coal advanced another
notch at New York yesterday, reaching
$780, wholesale freightage not included. An
thracite averages $40 a ton to the consumer.
E. NJ Atterholt, of Akron, O.. who has
been engaged for some time In an attempt
to form combination of the paper bag
and rope paper manufacturers of the coun-
try, has given up the project.
Vice President and General Manager
Harahan, Of the Illinois Central, stated on
Friday that the Illinois Central would
spend over 100000 on terminals at Mem
phis within the next three months.
In Baltimore financial circles yesterday
the situation was enlivened by the disburse-
ment of January interest on bonds and divi-
dends on stocks. 1t Is estimated that the
total interest payments in Baltimore ex-
ceeded 100000
Mechanical and electrical equipment of
power houses, passenger stations and the
complete underground system of the new
Pennsylvania tunnel at New York has
been intrusted to the firm OF Westing-
house, Church, Kerr & Co., designing and
construction engineers.
The fire loss of the United States and
Canada for the year 1902 as compiled by the
New York Journal of Commerce, amounted
to $l4s, 26O,S50 This is gratifyingly less than
the figures for 1901 of $164 ,347 $50 and 1900 of
there were 2,4OO fires of a greater destruct-
iveness each than $1,000.
The annual statements of the London
bankers clearing house shows that the
clearance of 1902 again reached the record.
The total aggregate of checks, bills, etc,
passing through amounted to So. 143. no.
900, or over s2,S35, OO.0O0 above the amount
In 1901. The largest clearance In single
day was 1854. 390, 900, on June 30. London's
clearings account for $45,792. 765,0O0 of the
years total.
New Orleans is now without a supply Of
fuel oil and all the furnaces recently con-
verified to the use of oil burners are being
changed back so that coal may be used.
Only one concern In the city has been sup
plying fuel, and within the last few days
II sent circulars TO its customers saying
that after Jan. L 1t would no longer be
able to supply oil. The company states that
it Is unable to get sufficient oil from Beau
mont.
Testimony from witnesses representing
mine operators, wholesalers and retailers
of coal was heard on Friday by the Chi
cago City Council committee railroads
having in charge the inquiry into the cause
of the present high prices of soft coal. OF
the $50 persons invited by the committee
forty responded. The committee interro-
gated the dealers, but the testimony all
economic causes and the law of supply and
demand have caused the present lack Of
coal and the consequent high prices.
The International Mercantile Marine Com
pdHy, OieduiLcu Dy IlcipOHt organ,
and with Clement A Grscom as its presi-
dent and directing chief, took actual control
Jan. i or the management or the various
lines combined. One of the first moves Of
public Importance Mr.. Griscom says will
be a Encouragement of sailings 10 give a
fast passenger and mail steamship from
both sides of the Atlantic each day except
Sunday. Ii may take a little time before
this daily service can be inaugurated. When
Ii Is 1t will be important to travellers and
business men, as IL will mean regular for
eign mail delivery with no break.
The official returns of the commerce OF the
port of New York for 1902 show a material
gain in the aggregate volume of business
as compared With 1901. Some idea of the
increase may be had from the fact that
nearly $lS.o00.0o0 more in duties col
lected than In the previous year. Imports OF
merchandise exclusively were larger by
about SIS. 100000. but domestice merchandise
exports declined to the extent of S24, .000
approximately The in ports OF gold and sill
yer In 1902 were about - 100000 less than In
1901. The exports OF foreign gold and silver
were somewhat greater In 1909 than during