The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-03-11
TRADE, INDUSTRY, FINANCE

The Siangeli copper fields, which extend
on either side of the boundary between
Norway and Sweden, have been sold to an
American company for sl,000000.
The miners strike i'm the Twelve Hole
district. OF West Virginia, was declared off
Tuesday, all differences between the min
ers and operators being amicably settled.
The Toledo Urban and Interurban Rail-
on Tuesday with capital stock of 100000.
1t will build an electric railway from To-
ledo to Grand Rapids.
A rumor is current at Detroit to the
effect that the American Car and Foundry
Company has acquired the Standard Steel
Car Company, of Pittsburg. This is looked
on as the initial step in the amalgamation
Of all of the car-building industries of the
country, including the Pressed Steel Car
Company.
The Tennessee Senate has passed the
Garrett bill, which prohibits compacts or
combinations among insurance companies.
Under Its provisions the kentucky-Tennes-
see board Of underwriters will be barred
and all local boards abolished. Sentiment
In the House is strongly in favor of the
measure.
AT meeting of the board of directors Of
the Crucible Steel Company Tuesday Reu-
ben Miller resigned president and Frank
Is. Smith was elected president and general
manager. James II. Park also rendered his
resignation as third vice president to take
erect April i. 1t is said the designations
have no significance Mr. Miller will re-
tain MS position as chairman of the execu-
tive committee
American Ice Company at Jersey City on
Tuesday report was presented showing
that on Dec. 81. 1902, there was a deficit
of 1882 93 against a surplus of s65S,S70 on
of the present management developed when
John A. Sleicher was elected chairman of
the meeting instead of John ID. Schoen-
maker. proposed by the management
An offer of $500 600 has been made by John
ID. Rockefeller. in behalf of the Fifth-ave-
nue. Baptist Church, for the property of the
Lotus Club on Fifth avenue, New York.
The Lotus Club, however, has rejected the
proposition, declaring that the property is
worth $500, 900, but since Mr.. Rockefeller is
known to be very DESTROYS of securing the
property and will even pay more than his
original offer. it is believed deal will be
arranged.
Iinemen of the Western Union Telegraph
Company went about various sections Of
Baltimore on Tuesday cutting down the
Postal Telegraph Cable Company's wires
wherever they found them strung to West
ern Union poles. John +. Creamer the
manager of the Western Union, said: II
received orders to do this work from my
superior officers, and L have done it. Every
Postal wire on our poles has been cut. We
told them to get of and they did not do IL. "
The grain commission firm of Karrick.
Grey & Williams. of Chicago, has ordered
all open trades with IL closed. The firm has
been in existence little more than a year,
| but has gained some Importance in the
grain trade The firm has not failed but it
| has many open trades both long and short
on the market which called for margins
| on both sides. Not having sufficient capt.
tai the firm transferred all its transactions
| TO the Pravey Grain Company, which will
assume all liabilities connected with them.
The Southern and Western stove manu-
| facturers concluded their joint session at
Chattanooga on Tuesday. The action taken
indicates that there is TO De close al
lance between the members of the two
associations. which embrace practically
| the country. About 100 members were in
| attendance. IL was unanimously decided to
| increase the price of all stove-manufac-
| tured goods per cent to take effect
| March Is. This was considered advisable
| on account of great scarcity Of raw ma
| terial and its present price.
The Kanawha Water and Light Company
| of Charleston. W. Va, has been organized
| In Washington. l.. c., for the purpose of
/ taking over the Charleston CIV. Va gas.
| electric light water and street railway
| franchises, which. 1t is stated. were OBJ
| tanned at a cost of 100000. The following
| officers were chosen: Richard Elkins. of
/ Elkins. w. Va. president; w. L. Sadler jr.
| OF Trenton. n. j.. secretary and treasurer.
The following directors were also chosen:
/ Senator s. ID. Elkins. Richard Elkins and
/ Colin H. Livingstone, OF Elkins, W. Va
/ w. +. Sadler. jr.. of Trenton. n. j., and
1 State Senator Charles w. Swisher, OF
| pany Is 81 100000. with authority TO increase
| It, if necessary. The general offices will be
| located temporarily in Washington.