Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-05-09

| Four months o,GUU,UUU f,oeo'Voo
Paris-Morgan, Harjes & Co con-
firm that they are about to place $l0,-
| O0o 600 Big Four bonds. The house is
arranging for the sale of about $20,-
ooo OO0 bonds of another railroad. Ell
forts to place issues by other interests
are in progress. including another
block of ST. Louis d san
| Francisco Railroad per cent. bonds.
| Pittsburg-C Steel Co. has
blown out II blast furnaces. Six more
will go out within 10 days. The COM
ponv owns 81 furnaces and operates
10 owned subsidiaries. The Steel Cor
poration is putting out total of about
25 furnaces on this movement, repre-
senting nearly 20 per cent. of capac-
| ity it had in blast. However. stocks
| of iron and unfinished steel will be re-
duced, so that the curtailment in out
put of finished steel will be less than
Is per cent.
independents are not curtailing iron
production as much as the Steel Cor
poration. Jones & Laughlin Steel Co..
| Republic Iron & Steel Co, La Belle
| Iron Works and Wheeling Steel d
| Iron Co. have each blown out one plast
furnace Several large independents
| were taking merchant Bessemer on
purchases made late last year and as
| these purchases have run out and are
not repeated, a portion of the curtall-
ment falls on merchant furnaces. Full
| ly third of merchant furnaces in
| Western Pennsylvania and Eastern
| Ohio have blown out since April l. or
go out within a month.
New York-The Steel Corporation
| within the last few weeks has sold a
large amount of steel for shipment to
foreign countries. 1t seems to be the
object of the company to make up any
deficiency that might take place in do
mestic consumption by increased
shipments abroad.
While sales of steel for shipment
abroad are made at concessions good
margin of profit is being obtained. For
| eign shipments, result in keeping the
mills employed and at the same time
greatly reduces cost of production.
Export orders over last two or three
weeks aggregate total close to 100,-
900 tons.
On April 81, net surplus of cars in
the United States and Canada stood
at 96319 an increase of 1882 or about
245 per cent. over a fortnight ago.
| Gross surplus was 102.0S5, compared
with S4,SS7. The shortage increased
from 1900 to 1855 This shortage is the
smallest since last August. The coal
EAR surplus showed another increase
| from 40,S5S to 44.39l, additions being
most noticeable in the West and
Southwest Box cars increased from
20.527 to 1856.
Large increases in few sections
We're responsible for the substantial
gain in total surplus In the middle
West traffic was diminished. an in
crease in cars OF about As per cent.
being reported. There are now more
'arriers in this section than since last
summer. Freight in Kansas. Colorado
and the Southwest decreased SO that
he number of available cars was
doubled. Smaller gains which. how
ever. reflected the general trend. We're
recorded in the far West and the eX-
treme Southwest
Receivers have been appointed for
the Iron G. Steel Products Co. a hold
ing concern for several companies
making chain and bar iron. The COM
pany has $4,000. 900 stock. and is said
to be solvent but in need of working
capital.
Houghton. Mich.-The strike made
in the drill operations of Houghton
Copper Go. dscloses II feet of copper
ground in what is apparently the
northerly extension of Superior lode
The disclosure was made at a depth
Of 351 feet.
BoSton-The railroad commission
has approved the purchase of Hartford
& Worcester Street Railway by Wor-
cester &, Southbridge Railway Co. for
$4,000.
BEACON"