Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-03-22
Day 5 Financial
News and Gossip.
Boston, March u, 1910.

Boston, MaTcil Il, I3iu.
Chicago-Amcrican Locomotive Go.
has awarded a $30O0006 contract for
the erection of l. buildings and
power house on 200 acres near Gary,
Ind, TO employ 5000 men Work will
commence in few days.
Pittsburg-The BesSemer &; Lake Erie
Railroad, of the Steel Corporation, is
preparing to clean up its ore docks
preparatory to incoming of ore on the
coming season. 1t expects to handle
100 cars per day from now on until the
opening Of the season, which should
clean the docks pretty thoroughly.
o. e. TAYLOR one of the head factors
of the Hudson Bay Co. who has just
returned from an inspection Of the new
gold district just discovered 100 miles
north OF Cobalt reports that extensive
work is going on at POrcupine GOLD
Camp. Mr.. Taylor visited % shafts in
the POrcupine Camp and states that
there We're three loads of ore at tho
'Hollinger ready for shipment from
their three 70 foot shafts end that
three additional carloads Of high grade
gold ore would be sent out Immediately
to the Deloro Refining and Smelling
Co. II is estimated that over 300 dis
Coveries have been made thus far. One
shipment so far has been made from
the camp of high grade ore, and great
interest is being manifested In await
ing the smelter returns.
The AliiS Chalmers Bullock Co, man
ufacturers of mining machinery, re-
ceived orders last week for three ad-
ditional plants to be shipped at once
into the Porcupine Comp.
Chairman Englehart, of the Tennis
kaming and Northern Ontario Rail-
road is quctec as saying that he thinks
;hs camp viii prove the greatest in
America. J. 3. Tyrreu, who has made
many trips throughout this district for
the Canadian government says that
there is every reason to believe that
this will become a permanent gold
camp.
Beside the work going on at the Mill
er, Wilson and Timmins properties and
by the Scottish Ontario Co. many 9TH
erS are planning extensive work in the |
spring The Gillies interests are ac-
tive and the porcupine Consolidated |
are making arrangements to put a
large force into the field with the COM
ing of spring 10 comlnense develop
ments. This property has several diff
ferent locations where ii is expected
Will be found combinations of the
Miller, Wilson and Timmins veins
where the recent spectacular finds
have been made
Chicago-The extension work of the
Illinois Tunnel co telephone system
begins today
New Iork-Western MarVland'G new
i'ne from Cumberland. Md, to q con-
nection with Pittsburg & Lake Erie at
New Haven. Pa, will be some 20 miles
shorter than the main line of Balti-
more &; Ohio between these two points
and is expected to have better grades.
New forli-Favorahl crop returns
for wheat and oil seeds come officially
from India as reported To Broomhal.
In the earlier districts harvesting is
row going on, and new crop selling has
begun. Conditions throughout Austria
lasia remain as promising as in earlier
weeks. Some lower estimates are be-
ing circulated of Argentina's exrortable
surplus. Russia is moving liberal stock.
Roumania reports weather conditions
favorable, as does also Austria Hun
gary. Throughout France more hope
full view is taken Of the crops. but sup
plies are light. In Germany native sup
plies are increasing. Throughout Italy
and North Africa reports are favorable,
the droughty regions of Spain have
had rain. Spring sowing has COM
Inencod in the United Kingdom
Probably the most adverse feature in
the general situation is our foreign
trade. This country continues to i'm
port merchandise heavily. while the
high prices maintained for our products
bars us to a large extent from the
| markets of the old world This means
rolling up Of an indebtedness to Eu-
| rope, and which must be liquidated
either in gold or in our securities.
BEACON"