The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-07-23
TRADE AND INDUSTRY.

The commonwealth committee of Chicago
has certified to the Illinois secretary of
state an increase of capital stock TO ST.
100000.
The annual overhauing of the assay office
in Wall street, attending the yearly exami-
nation which the treasury officials from
Washington are accustomed to make, has
been completed. 1t resulted in the dis
covery of about $4,000 in gold dust.
The agents of a company, claiming S4,-
100000 capital in concessions from Mexico
for colonizing the coast of Yucatan,
successfully engaged at Mayaguez. Porto
Rico and in the vicinity in inducing Porto
Rican families to emigrate. The newspa-
pers of this island oppose the plan. claiming
that better times are coming for Porto Rico.
At meeting held in Chardon, O., yes
terday Of the Chardon maccaroni factory,
one of the largest in the United States, it
was decided TO form an organization under
the laws of the state of New Jersey with
capitalization of S5,000000. The organza-
ton will comprise twenty-five of the lead
ing maccaroni factories of the United States.
An involuntary petition in bankruptcy was
filed Wednesday in the United States Dis
trict Court at New York against the
Smokeless Combustion Company, a West
Virginia corporation with an office in New
York, by creditors holding notes against
amounting to about s97, OOO it is alleged
the corporation had admitted its inability
to meet obligations and its willingness to
be adjudged bankrupt
Controller al
York Wednesday. for s3,5O00o0 worth of
corporate stock, S2,50O,000 of which is for
the construction of the rapid transit rail-
road, and 81 100000 for replenishing the fund
for street and park openings. Mr.. Grout
announced that there were thirty-nine bids
and he thought the average price would be
1922. This stock is in the form of 31a per
cent tax exempt gold bonds, payable in
fifty years.
The report of w. d. Sayle, receiver for
the United States Carbon Company, which
was filed in Common Pleas Court, at Cleve-
land Wednesday, shows a balance in the
treasury of the concern of SS5,Ss5 This
amount was realized from the sale of the
plant and the collection of all claims which
that there are claims against the company,
which have been filed and allowed, amount
ing to $222,S64
On the petition of Manchester. of Hutch
ins, r. l., and Wells 81 Norton, of New
York, the United States Court at Boston
has appointed w. d. Lucy and f. d. Smith
as receivers for the Norcross Brothers Com
pany building constructors, of Worcester,
Mass The complaints allege that Norcross
Brothers have contracts outstanding
amounting to 100000, of which 100000
has been spent in erecting large buildings
in different parts of the country. The total
net indebtedness is estimated at $4,000.
President Dickson, of the Cuyahoga Tele-
phone Company, of Cleveland, o., in a cir
cular letter yesterday to all employees an
nounced that as an experiment one-fifth of
\
set aside and distributed among its en-
ployes in proportion to their salaries, dat
ing from July /. The plan is adopted in
the belief that it will result in a more eff
cient service, greater economy and larger
earnings, and, If successful, will be perma-
nent after trial of six months. Several
hundred employees are affected.
Plans for consolidation of the surface
street-car lines in Chicago have reached an
advanced stage. Conferences are held from
day 10 day, and the municipalities demand
for universal transfers is urged the chief
reason for taking preliminary steps now. 1t
is also pointed out that the sharp decline
in Chicago City Railway stock would tend
to cause an amalgamation of interests. The
South Side road fell TO as low as III
Wednesday, drop in recent months of
owners are favorable to one system and
the one fare. because they believe it will
be profitable move.
Proceedings were instituted Wednesday in
the United States District Court at Trenton
n. j.. TO have the Southern Car and Foun-
dry Company declared a bankrupt This is
! the company for which Thomas Gillespie
| of West Orange, ". j.. was last week APP
| pointed receiver by Judge Kirkpatrick in
application of the Standard Steel Car Com
| pany. of Pennsylvania, and others. The
| bankruptcy proceedings are instituted by
| the same compliments and have for their
| purpose the saving TO the creditors of prop
| erty belonging TO the company that has
| been attached in Tennessee and Alabama
| where the company's plants are located
| has been appointed in the United States
Circuit Court as receiver in addition 10
| Thomas Gillespie, who was appointed last
week.