The Indianapolis journal., 1904-01-14

employees OF the combine who subscribed for the
have returned their holdings TO j. p Morgan &
Co and requested that their names be erased
from the subscription list This has been done,
all the money paid on the stock having been re-
turned less dividends. In other words, instead
OF p 900 employees of the Steel combine holding
preferred stock there remains between
gan & Co announced that they Would purchase
preferred stock held by any employe on basis
Of $3.50 per share. More workingmen took ad-
vantage Of this offer than was expected at the
time IL was made. Dissatisfaction over the
Of the preferred stock which sold around
sS7 a share when the original proft-sharing plan
was announced, ana the suspension OF mills, was
responsible tor the action Of the Steel employees
in returning their stock"
The National City Bank. New York has just
issued a circular in which attention is called
to the fact that the applications to the treas
ury in December to decrease circulation We're
up to the limit of SO. 600 OOO From the fact that
the Treasury Department and officials Of the
National city Bank are on friendly relations
the following paragraph of the circular is re-
garded as significant: Applications are al
ready in the hands Of the controller TO an
amount which indicates that the limit will
also be quickly reached in January. The dis
position OF the secretary of the treasury TO in
derstood to have changed Ranks will probably
find, during the first six months of the year.
encouragement at the treasury If they are dis
posed to reduce circulation the theory being
that efforts should be made to stimulate ex-
pansion in the fall months and in order TO
best accomplish that there should be contrac-
tion in the first half of the year.
In another part of the circular appears the
following: THE outlook for increasing public
deposits is not favorable. While the govern
ment accounts for December resulted in a sub
stantial surplus of SO, 499 co., as against $40,
els.OOO for the corresponding month last year.
the good showing for the month was wholly
tures the income being s4 100000 less than for
the corresponding month of the previous year
More important than the unfavorable figures
OF government receipts and expenditures 10
their bearing on the amount of government
fess made IN Washington toward the conclu-
sion Of treaty with the new republic of
Panama and the approach Of the time when
$40, 0OO, 900 must be paid the representatives
of the Panama Canal Company security hold
Ihe present indications are that this money
will be paid within three four months pos
si4ly at an earlier date. and II seems prob
able that while the secretary of the treasury
will undoubtedly endeavor TO provide for this
payment as largely as possible out of funds in
the treasury, depostary banks will be called
upon for some portion OF it, perhaps S1O O0e, 900
to $50, 600, 000."
From a source that is usually reliable the
statement that the Amalgamated Cop
per Company offered recently to F. Augustus
Heinze S1O.O0O.OOO for a quitclaim to all of his
copper properties in order to clear up the liq-
uldation % that is now on Mr. Heinze declined
sell out all Of his claims for $l5 00O 0O0 This, in
turn was refused, and it is said that the
Amalgamated Copper Company is pre-
pared to spend in hghtng him the $40. 600 900
ii offered Heinze for a settlement.
OF Amalgamated Copper a speculation at
present prices the Wall Street Journal says:
Considering that the Amalgamated Copper
Company does not issue and never has issued
any statement of it's earnings or finances,
and that some of the powerful specula-
tive interests in the world are largely identified
nd Gf6
ering that there has been a serious fight in
progress between the company and Mr.. Heinze
for a long time, 1t is obvious that could not
offer anything better than guess as to
the probable movement of Amalgamated Cop
per stock. The surface indications that the
powerful speculative interests which control
the company have accumulated considerable
quantity of stock, in which advance
in prices would probable. Needless to say
this is only a guess"