Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-12-25
THE MARKETS.
Continued from Page Four.)

lode is in progress. About 123 feet Of
the lode has been opened in this rock.
and though the showing in the north
drift is rather Indifferent, that in the
south drift is very good and consider
ably heavier copper is being cncoun-
tered.
Boston--Of the $25,000,000 three-year
) per cent notes of the American Tel
ephone Co. coming due Jan. l next it
is estimated that the company itself
has bought or there is held by bankers
for account Of the company close to
ST. 200, 900 leaving about S13,o00,00o
which must be paid off at par in cash.
The notes purchased ahead will show
the company very material saving.
The rcfundng of these notes was pro-
vided for at the time the company sold
the $40. 900 900 convertible bonds, BRING
ing that issue up to the full author
lied amount of $150,0GO.000.
Boston--James Hoatson, president of
the North Butte Co. wires in regard
to the rumor that he has sold his hold
ings and will retire from the presi-
dency: II have not sold my North
Butte ard have no intention of resign
houghton, Mich.-kewecnaw'so opera
tions in the kcarsarge lode continue to
disclose excellent copper ground as
new depth is gained. The lode is q
fine healthy ainygdaloid of much prom
Use.
n. Y.-Chairman Gary Of the Steel
Corporation says: The Stee. Corpora.
ton can manufacture in Alabama,
when it's construction work now under
way and contemplated IS completed,
steel and iron at as low cost as any
place in the world. This gives one an
idea of the advantage the South offers
in steel manufacture
Houghton. Mich The 2lst level sta.
ton in the No. , shaft Of the Hancock
Co has been established and the
drifting on the lode at that point is now
in progress. The property has been
visited by several prominent mining
engineers recently. and their reports,
so far as the public has been informed.
have without exception bean gathering.
n. IA strike in grain-handlinS
ports in Australia has interfered with
shipments to Europe, but harvest
prospects are favored by excellent
weather. Crops in India are up but
need mere rain. Southeastern Russia
has been covered with snow to advan-
tage of The winter seedlings. Baltic Sea
supplies and interior reserves OF wheat
are liberal Danubian districts, AUS
tri;l-Hungary, France, Germany. Italy
and Spain report favorable conditions
as a rule. Heavy rain in the United
Kingdom stopped seeding.
Sharon. Pa.--The Mahoning valley
eventually will be a strong rival OF
Pittshurg in iron and steel production
Within the next two years close to
$50, 100000 will be expended for new
construction. The latest project is a
big independent sheet and tin plate
plant. Gary iron & Steel Co. of Cleve"
land, Ohio. will move its manufactur-
in" plant to Youngstown, and begin
Il big sheet iron and tin plate mill, to
cost nearly $1,O0O,OOO. With the build
ing of the new plant will come an in-
crease in the capital stock of 100000.
Houghton. Mich.-Victoria has be-
CUR the work of sinking 4 second shaft
to the norrhwarG Of the single shaft
now operated by the company. The new
shaft will open the northarly extension
of the Forest lode in which the No. l
shaft is opened. and judging from re-
suits obtained in the diamond drilling
at that point should open ground Of
about the same average copper con-
tent as that lad in the old shaft.