The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1910-07-13

The formal transfer OF the various
properties included I'm the Lake SUI
perior Iron and Chemical Co. was ef.
fected on Tuesday. The New York
corporation recently formed takes
over all the property OF the Michi-
gan company.
Local spectators have been watch
ing the copper board pretty carefully
lately. The feature has been the
slump in Lake, which has dropped II
points from Mondays opening.
There was another break in the
price OF copper in the London mar
ket. IL was quoted at 81 It's cd.
which is lis Sd lower than Monday.
and is a new low record for the year.
The general contract for the two
new ladder houses ordered by the fire
commission has been awarded TO Max
Bartholomew. Son a. Co.
The Michigan Auto Parts Co. has
filed articles with the secretary OF
state for an increase in capitalization
from $4,000 to 100000. Plans for
an extension OF the business OF the
company are under consideration.
though nothing definite can be given
out.
The First National bank has issued
an attractive booklet for bankers ex-
planning the Postal Savings Bank
law which was passed by the last con.
gress. Notes are made Of the import
ant clauses that will especially affect
the operation OF the law.
The Union Trust Co. is Offering an
issue OF participating certificates In
the syndicate subscribers loans In con-
nection with the floating Of the new
Lake Superior Iron and Chemical
Co. The issue totals $SS0,000 and
draws 6 per cent.
The building permits for the first
six months of 1910 in Detroit show a
total of $7,615,315. This is the largest
for a similar period in the history OF
Detroit. Construction News. the OFF,
cial organ of the builders trade.
ranks Detroit seventh In the list OF
the cities OF the United States in
volume OF building for the year.
The recent slump in ID. u. X. stocks
In New York and Montreal Is said 10
he due TO the possible application or
the Spokane rate case 10 the situation
here in Detroit. In that case the
Great Northern claimed an apprecia'
ton from so-called unearned incre-
ment TO the value OF its properties
amounting to Sl44,000. 900, but the
claim was denied at the trial and the
decision affirmed In the higher courts.
The application of this principle was
suggested TO the council by Engineer
Bancroft, but no action was taken on
It. The report that II might be APP
piled sent the stock on the tobogSan.
Grand Trunk employees are talking
seriously OF strike on account OF
the refusal OF President Hayes OF
that road TO grant the standard scale
by the IS eastern roads. The
reason given is that the Grand Trunk
is not earning enough to pay the in
creased scale. The employees point
out that the Grand Trunk report
shows the company is earning 800
more per mile than the Canadian Pa
cific, which has granted the ne"
scale The men declare they are de-
termined to get what they demand
and IL the company does not yield,
a vote will be taken at once on declar-
ing a general strike and tying up the
road.
The long continued drouth has sent
the price OF small fruits way up In the
air. according to big local wholesal-
ers. Prices OF some lines are more
than double the normal figures. Red
raspberries that generally sell for
three to four dollars bushel now
bring IS to $40. Tomatoes are back
ward and the southern crop Is about
exhausted. Green peas are about nor
NAL and a good supply OF peaches is
coming in from the south. In addition
to the crop shortage the increased
demand Just now to feed the Elks has
sent prices skyward.