The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-03-27
TRADE, INDUSTRY, FINANCE.

An anti-cigarette bill was passed in the
Wisconsin Assembly Thursday without
word of debate. 1t prohibits the manufac-
ture or sale of cigarettes or cigarette paper
and takes effect July next.
AS the result of a conference between the
officers of the Citizens Savings and Trust
Company and the American Trust Com
pany, of Cleveland, the interests of the two
concerns have been merged. The capital
stock of the united companies will be $4.-
100000; deposits. s2I,o0o0Oo; resources, $S4,-
100000.
Articles of incorporation of the Eastern
Sugar Company have been filed at Phoenix,
A. T. The company Is Incorporated In New
Jersey, but purposes to operate in Arizona.
Contracts have been made between the
farmers of Salt River valley and the COM
pany for the erection Of factory at cost
of about S10O0,000.
A special meeting of the stockholders of
the Aetna Life Insurance Company was
held at Hartford, Conn.,, Thursday, and
the acceptance of the amendment to the
charter passed by the General Assembly
for an increase of capital from $2,000,0O0
to s5,OO0,0OO was adopted. The amendment
takes effect Immediately.
An agreement has been entered into be-
tween the Cotton and Stock Telegraph
Company and the New York Exchange TO
prevent bucket shops from receiving news
sent over the formers tickers. All con-
tracts, which are to go into effect April 1,
must be SUBMITTED to the committee of the
Cotton Exchange before they can be ex-
ecuted by the telegraph company. 1t is be-
lieved the New York Exchange has asked
the New Orleans Exchange to cooperate
in this move.
Another canal scheme was introduced I'm
the New York State Senate Thursday i'm
the form of a bill Incorporating without
capital the Continental Association for Pro-
duction and Transportation, Reduced Tax
alton and Continental Unity. The incor-
porators are Andrew III. Green and hun
dren other New Workers who signed the
petition favoring federal control of canals
and the Lewis bill for a commission to me-
gotiate with the government. The object
of the association is to promote the con-
struction of continental system of water
power.
The Detroit Free Press says: THE real
meaning of the recent increase In the cap
ital stock of the Michigan Malleable Iron
Company Is explained. The American Car
and Foundry Company took the larger
portion of the increase I'm the capital stock
and is now heavily interested in the Mich
igan Malleable Iron Company. The Mich
igan Malleable Iron Company has ac-
quired large holding in the American
Steel aid Foundry Company, thus virtually
matchmaking these three concerns. The
unification of interests means much to all
three concerns. 1t means that occupation
of the malleabe iron works to nearly their
full capacity to supply the need of the
car and foundry company alone"
German textile makers are meeting with
success in their efforts to develop the cot
ton growing industry in German East
Africa, according to report to the State
Department from Consul General Hughes
at Coburg. He says the Bremen Cotton
Exchange has just tested a quantity of
cotton grown in the Kilwa district, which
was shown to be nearly as good i'm staple
color and other qualities as the higher val
ued Egyptian cotton, from the seeds of
which it was grown. This German cotton
sells from IL to Ia cents per pound. To
promote its growth the colonial economical
committee has promised the premiums for
properly cared for cotton fields and will
furnish seed. gins and baling presses free
of charge. The Egyptian government has
written to the United States Department
of Agriculture to secure the services OF a
cotton expert and chemist.
Upwards of three hundred members and
guests attended the annual dinner of the
Transportation Club at New York Thurs
day night. Senator Chauncey M. Depew,
president of the club. presided. Among
those at the guest table were Charles HI.
Cramp, Edwin s. Cramp, Lewis Nixon,
Gustave H. Schwab, Herbert Barber. Will
liam McAdoo and j. Edward Simmons.
Senator Depew, after speaking of the great
growth of the commerce of the United
States in the past fifty years, said: "And
under what flag is this commerce carried
on? Under any old flag of any old country
in the world except that of the United
States" Lewis Nixon told of the trials
that had hampered American shipping, and
declared that the trade of the Atlantic
would shrink into insignificance in compar-
ison with that of the Pacific. Gustave III.
Schwab and William McAdoo also spoke.