Morris tribune., 1906-03-31
COM MERCIAL
Steel Trusts Big Earnings.

Steel Trusts Big Earnings.
The report of the United States Steel
corporation for 1905 shows an increase
of over $4,000, COO in net earnings or
total of nearly $120,O00,0OO The to-
tai undivided surplus on Dec. 81 was
$S4, T3S. 450 The gross receipts reach
ed the vast total of $3.50, 1881, 1856. There
was decided Improvement in the ex-
port trade, both as to quantity and
price. In defense of the practice of
selling to foreign customers at lower
! prices than those prevailing at home
the report says that in this way sur
plus stocks are disposed of, thus pre-
venting increase in cost of production
! and shutting down of works. The num-
Der of employees increased to 1SO,158.
During the year 1926 employees sub
scribed for %, 9S9 shares of preferred
stock at par.
Griscoms Get Moran Shipyards.
The big Seattle shipyards owned by
the Moran Bros, in which the battle
ship Nebraska was constructed, has
been sold to group of eastern capital
lists, headed by the Griscoms of Phila-
delphia A new corporation will be or
gained as the Moran company.
Crop Worth More Than the Land.
The price of tobacco leaf in Penn
sylvania has now risen to Is and Is
cents pound. and it is estimated that
at this figure farmers are receiving
more for their tobacco crop per acre
| than the value of the land on which
the tobacco was grown.
Raisin Combine Failure.
The California Raisin Growers com
pany, cooperative concern, which in
Guided large number of raisin grow
ers under a capitalization of $5,000,000
has gone out of business, thus leaving
the packers free to regulate prices.
The price of raisins is now to cents
! pound.
A Victory For Esperanto.
The London chamber Of commerce
now has included Esperanto, the pro
| of subjects for examination by its
commercial educational department
which fits clerks for competition with
| foreigners.
! Fight For New York Life.
The trustees of the New York Life
! have been warned by Samuel Inter
myer as counsel for the international
! policy holders committee that they
will be held personally responsible for
the money spent recently in their eff;
fort to get proxies for the annual meet
| ing on April II. This campaign of the
! trustees is understood to have cost al
ready more than 100000
Andrew Hamilton, the former legis
iative agent, has continued his fight
against the present trustees. pointing
out the weakness of their denials OF
responsibility for his expenditures. He
| said that be had in his possession q
voucher for $4,000 signed by Corne-
Illus n Bliss as treasurer of the Repub,
lican national committee. this having
! been the amount of the New York
Lies contribution in 1896, personally
J delivered by Hamilton. Hamilton also
charged that Governor Higgins had
promised Secretary of State Root that
| the insurance question would not be
| taken up at the extra session. Root
promptly denied that he had any such
arrangement with the governor. Ham
/ ilton formally refused to meet the
| Fowler house cleaning committee and
/ challenged the trustees to meet him in
court. He had already accepted serv-
/ ice of a summons for an accounting.
| The committee made public a letter
| In reply to Hamilton's charges. They
! say that he alone can explain what be-
came of the $1,3O0,00O which passed
through the legislative agents hands
in the past ten years, as his vouchers
or receipts revealed nothing to the au-
diting committee. that over 100000 is
not claimed to have been received by
Hamilton for legislative work and that
he has failed to account for S235.0OO
advanced to him which Mccall repaid
The letter written by the late Presi-
dent Mccall to his successor, President
Orr, explaining how Hamilton was en-
gagged in 1895 to attend to taxation
and legislation on the condition that no
accounting Of the moneys advanced
should be asked of him or rendered by
him was made public.