Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-05-23
DAYS Financial
News and Gossip.


a Boston-Good progress has been
made in the construction work at the
International Smelling a. Refining Cos
plant near Tooele, Utah, during the
past 30 DAYS For a time there was
considera BILE delay in structural steel
deliveries. This material is now arriv-
ing more promptly, but it is difficult
to get structural workers. Out of a
force of 100 men needed for this build
ing, the company has only been able
to muster a force of about 60. Under
existing conditions the engineers in
charge of this work do not expect to
have the first furnaces ready for blow
ing in until Oct l.
Globe, Ariz.-The stringer of ore
struck 80 feet from the Williams shaft
of the National Mining Exploration Co.
has been drifted on for 80 feet east
ward and 60 feet westward. The ore
streak is about is inches wide and con-
tains no high-grade material. The
shaft now 697 feet deep, is being sunk
further with a view to establishing a
level at a depth of us feet. Meanwhile
all work at depth of $50 feet has been
discontinued
BoSton-Utah Consolidated is max
ing small shipments of ore to the Gar
field Smelling plant. The contract
with this smelter expired April l. of
this year. but at that time the mining
| company had not completed the deliv-
cry of its 800 tons per day. and the
smelter people insisted upon delivery OF
the full amount When this contract
was first entered into, over two years
| ago. the Garfield plant was not run.
| ming smoothly. and the Utah Con-
solidated was asked to curtail it's de.
| liveries. At the expiration of the con-
| tract there was a large amount of the
ore due the smelling company and de-
| spite the protests of the Utah Co. thu
| smelter insisted upon the pound o
| flesh"
| Globe, Ariz--Of two churn drill hole!
| sunk on the Colorado claim of the In
| spiratior Cos. property, one has en-
| countcred ore at a depth of 500 fee
| and the other is still in Gaping. TIL,
! ore body has now been shown to eX
| tend fully 300 feet from the eastern
property line.
London-The death of King Edward
had little untoward effect on prices il
| London. But in any case the bear ac
| count open was sufficiently substantial
and the bull account almost non-eXist
| ent: for the financial uncertainties, the
| political deadlock. the Lanchashirt
trade troubles and adverse rumor.
| about the Kings health had all hat
their effect previously.
New York-EdWin Hawley has Sc
| cured control of the Texas Contra
Railroad an independent line PCS miles
Ions running from Waco to Rotan
l-TeXas. The line will become part o
the Missouri, Kansas & Texas. TIL,
Texas Central has $l,325OOO per cent
| non-cumulative preferred and $3.50,
000 common stock outstanding. Boil
| pay 5 per cent.
| Boston-Alfred Reeves, manager o
the Association of Licensed Automobile
| Manufacturers, says: This years pro
ducton of automobiles made under the
\ Selden patent will show an enormou.
[ increase over year ago. In 1907 102,
900 cars were built by the licensed man.
ufacturers, and 10000 cars by manu-
| facturers outside of the association
| This years increase should bring the
| production up to 200 600 under the Sci
| len patent and $1,000 to 10000 by out
side manufacturers. On account of tho
| high cost of rubber, the tire manufac
tnrers are not buying at the present
price, but are using the rubber that
| they have on hand
New York-The average price of 2,
| active stocks at the close Friday wa.
| 1910, an advance of 1.O9 compared
with Thursdays close. A year ago the
average was 1850
On May the net surplus of cars in
the United States and Canada was 1872.
593, an increase Of 1924, or 27.3 pei
| cent, in a fortnight. The number i'll,
| was 127 Jas, compared with 102, 593. TIL,
| shortage decreased from 5766 to 4555
Coal car surplus showed continued in
crease. to 46,o62, additions being most
noticeable in the Middle Atlantic
| States. Box car surplus increased
from 29,366 to 1896 Most of the in.
| crease comes from the tremendous
jump in number of available carriers
| in the Middle Atlantic States, where
there was q gross surplus of 27,15O
| compared with 1889 two weeks ago. AL
| other increases We're comparativel,
| slight. In the Northwest there was &
| small dimunition of freight traffic. Ir
the Middle West freight offerings yari
| ed little from fortnight ago. Unim.
| portant slackening of traffic was no
| ticed in the Southwest and the ia,
| West
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