Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-12
INDUSTRIES AND FINANCES
THE PENNSYLVANIA RAILWAY
COMPANY ORDERS STEEL RAILS
Iron Works on Full Time-Bay
State Mills Shut Down-Banks
and Plants Resume.

PHILADELPHIA, December 1.-THE
Pennsylvania railroad has ordered from
the mills the last 5000 tons of it's 1907
steel rail allotment AS the company had
no immediate use for them, and as 1t de-
sired to make a change in its IS and 100
pound rails with the view of securing a
rail less liable to break. the placing Of
this order was held in abeyance pending
some change in the original specifications
The service test these rails will receive
will enable the company to determine
what further improvement, If any. can
be made In the rails to be ordered next
year. the contract of which does not call
for delivery until after June /. 1t will
also be of valuable assistance to railroad
men and steel rail manufacturers, who
have for some time been struggling with
the problem Of an improved steel rail.
READING, Pa. December 12.-As an
indication Of better feeling in the iron
trade the Exeter steam forge, at Lorraine
this county, and the puddle mill of the
Glasgow Iron Company. at Pine Iron
Works Station, have both resumed OPP
erations. 1t was announced yesterday
that the Carpenter steel works of this
city. which made great quantities Of pro-
1ectlles for the governm mt during the
war. will go on full
time after January l. For some time it
eight hours each. When on full time
there are three eight-hour shifts.
There has been little diminution in ship
ments on the Reading railway during the
past month. On its Reading division an
average of 5000 cars of coal. and freight
were handled every day this week and
also last week.
WEBSTER, Mass. December 12-sev-
eral of the big industries of this town
have curtailed their working schedules
and some of them have closed altogether
as result Of business depression. The
Chase mills of the American Wooden Com
pany, emple ying 600 operatives. are work.
Ing but four days week; the Perry
Wooden Company has been closed for the
past month and the wooden, cotton and
cambria mills for the Samuel Skaters Sons
Corporation have been running on a five
day schedule for three weeks. The A. j.
Bates & Son boot and Ihoe shop has re-
duced Its running time. and at the Cor
bin shoe factory large number of the
operatives have been laid of.
NEW YORK. December 12-Lower rates
of interest have decreased the annual
earning capacity of the Peabody educa-
tional fund from $4,000 to 500, 900 for
the current year. Nevertheless, during
the past twelve months the trustees have
expended some $4,000 for education in
the south. This was shown by the re-
port of the treasurer, J. Pierpont Morgan,
at the annual meeting yesterday. These
officers were chosen: Chairman, Chief
Justice Melville Fuller; vice chairmen,
Joseph H. Choate and DR.. Daniel C. Gill
man; treasurer. ]. Pierpont Morgan: sec
rotary. Samuel A. Green; general agent,
Prof. Wickliffe Rose.
ADRIAN Mich. December 12-Because
the funds became low as a result of the
financial stringency, and he was unable
to obtain sufficient currency, E. B. Lee
yesterday closed his two private banks at
Jasper and Weston. Mich. He turned
over to the receiver all Of his property,
including his home and life insurance. He
says his total liabilities, inc. uding the
deposits in both banks, do not exceed 500,
600, and his assets are upwards of $4,000,
if fair sale is made. Dallas F. Knapp,
cashier of the Weston bank, was ap-
pointed receiver by Judge Chester.
KANSAS CITY. Mo-, December 12-
The State Bank of Admire. Kan, which
suspended following the close last week of
the National Bank Of Commerce. of Kan
sas City, reopened yesterday. The Union
Avenue Bank of Commerce of Kansas
City, branch of the National Bank of
Commerce. and the private bank of D. A.
Becker, at Stokesbury, Mo-, with deposits
of about $4,000. are to resume business
state bank examiner says that the pri-
vate bank at Stokesbury, Mo-, also will
reopen soon.
HELENA, Mont, December 1.-THE
East Helena plant of the American Smelt-
ing and Refining Company announces
that it will resume the buying of al GUS
tom ores. This will mean the resumption
of many mines in Montana which have
been closed as the result of the recent
action of the Smelter in refusing to &C
cept any ore but that from contract ship
pers.
WESTBORO. Mass, December 1.-THE
II. E. Brigham shoe factory of this town
has closed down indefinitely, throwing out
of work more than 500 operatives. The
Westboro mills are at present running on
a three-day-a-week schedule. and an en-
tire cessation of operations is likely to
come within a short time.
STEVENS MIKADO'S ENVOY.