The Owosso times. (Owosso, Mich.) 1897-1926, 1907-04-05
COMMERCIAL
coastina Vessels to Compete.

Coastlng VeSSelS TO SoUPete.
The effort made by Charles w. Morse
to obtain a practical monopoly OF the
coastwlse shipping lines seems to have
met with failure, and although he Is
said to be at present m4ter-of eighty
one ocean going steamships there is
another powerful combination still In
the business, consisting Of the New
York, New Haven and Hartford Rail-
road company and the Merchants and
Miners Transportation company OF
Baltimore, which together control the
Boston and Philadelphia Steamship
company. These interests, it Is under
stood, while working under separate
managements, will act in entire har-
mony and thus constitute a powerful
competitor of the Morse combination.
There is, however, no immediate pros
pect of modification of existing traffic
schedules.
German Control of Adriatic.
The North German Lloyd and Ham
burg American Steamship companies,
acting together with the members OF
the shipping trust, have established
new steamship line between Fiume
and NeSA York to render fortnightly
service. The new company has made
an agreement with the Hungarian gov
ment to undertake the emigration traf-
/ fic to America which hitherto has gone
to the Cunard company, notwithstand-
ing that the latter company still holds
an agreement with Hungary good for
seven years. At the same time the
North German Lloyd people have COM
bined with the Hungarian Levant line,
| the latter being organized with 50, IoO,-
900 capital. These two agreements VIII
| give German merchants control Of the
| Adriatic.
| Uncle Sam Ends the Panic.
| After another crash in the prices Of
speculative railroad and industrial
| stocks, in which some securities fell to
| n lower point than they had reached IN
| the panic of March IA, relief came in
the shape Of Secretary Cortelyous no
| tice that he had made a deposit Of
| S15O0O,OO0 cash In New York banks on
behalf of the United States govern
| ment. Instantly confidence was re-
stored, capital came from its various
hiding places, prices of stocks gounded
upward and the panic appeared to be
| at an end. The hopeful outlook was
still further intensified by the an
nouncement that the government had
arranged to advance the total of its de-
posits in New York banks to $50,000,-
| 900 by the end Of the week.
| National Wealth Summed Up.
| The census bureau in a special re-
| port estimates the total wealth of the
| United States now at $107, 1914, 1872, 410.
| This figure really stands for the year
1904 and shows that the national
wealth had increased $1S,5O0, 900
since 1900. The greatest single item
of wealth Is that of railroads and
their equipment, which is placed at
| $11,244, 752, 900.
Big Telephone Earnings.
The annual report of the American
Telephone and Telegraph company
shows total earnings of $24, 526,O97, an
increase of nearly 100000 over those
of the preceding year. The net earn
ings were $12,970,937, which means an
earning of ST. per cent on the $685.
661 800 of capital stock. The net out
put of telephones In the year was
1,409,57S, making a total Of 7,107 1886
In the hands Of operating companies.
The total number Of calls shows about
six for each man, woman and child in
the United States. The maintenance
and reconstruction of all the Bell lines
cost nearly $33,OOO000. President Fish
says that the recent improvement in
cables makes It POSSIBLE to place in
underground conduits cables contain
ing 400 or even 600 circuits. while a
pole line can carry GOO pairs of wires
in the form Of cables as compared
with the old fashioned pole. which
rarely exceeded twenty pairs