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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Jun 03, 1900
Page
4
Government notes the value of old 3 per cent 1908 4s 1907 and 5s 1904 bonds for exchange under March 14 1900 act. It details present worth at May 31 1900, cash differences, and potential profits if exchanged bonds rise in value by maturity. Taxable totals for exchanges by individuals and banks are listed.
The National Sugar Refining Company of New Jersey is organized in Jersey City as a merger of the National, Mollenhauer and Doscher concerns. It commands 20 million dollars in stock and assets across three plants with immediate full-capacity operation. James H. Post leads the board with fellow directors F D Mollenhauer Claus Doescher George Arbuckle F H Holland Herbert D. Cory and H F Mollenhauer. Officers include President James H. Post Vice President and Treasurer Frederick D. Mollenhauer Secretary Herbert D. Cory. An understanding with American Sugar Refining Co avoids a rate war while filings proceed in Trenton.
C Schumacher & Co reports a global easing in the money market with sterling down to 4.87 in London activity and sixty day bills slipping slightly. Francs and Reichsmarks hold steady while German private discount remains high. They anticipate profits on German bills and expect reduced gold shipments as export movement slows.
Consolidated Rubber Company of New York City with a capital of 20 million dollars will erect mammoth shops on a site purchased in East Akron Ohio. The firm, which has not previously manufactured its own products, will become independent of outside concerns and establish Akron as the factory seat. Over 500 people will be employed at the outset.
Special Despatch reports the American Steel and Wire Company has begun operation of its twelve and eighteen inch bar mills in Cleveland. One blooming mill was shut for repairs while another started in its place. The Bessemer department will close during June for repairs, leaving about three hundred workers idle.
June 2 New York C P Huntington president of the Pacific Mail Steamship Company spoke on an alleged contemplated bond issue to fund new steamers. He commented on the financial plan and the potential impact on the company.
The firm said two new ships in progress are half paid with an on account payment of 000 made yesterday. The remaining balance will be due in months. The ships, costing about 4 000 000, will not launch until autumn.
All mills in Wisconsin and Minnesota manufacturing print manila and fiber papers unite in the General Paper Company of Wisconsin incorporated in Milwaukee with capital of 100000. A. Kimberly of Neenah elected president. aim to challenge International Paper Company for Western market control.
In Columbus on June 2 a trio of corporations were formed including The Bank of Wellston with capital stock of 25 000, The Troy Register and Manufacturing Company with 20 000, and The Toledo Sanitarium with 5 000, all based in their respective cities Wellston Troy and Toledo.
Chicago June 2 report says the Illinois Steel Company's South Chicago mills are closed except the blast furnace. Between six thousand and seven thousand workers will lose their jobs.
Three large Newburg mills owned by the American Steel and Wire Company were suddenly closed, startling workers and local officials. No further details on reasons or reopening timelines were provided.
County Commissioners asked the Solicitor to outline a procedure to build a courthouse addition costing about 25 000 dollars. Judge Howard Ferris pressed for more room for Probate Court, proposing four stories of brick and stone to connect the courthouse and jail, with possible floor reassignment for judiciary needs.
The third and final vocal recital at College Hall featured graduates Agnes Hart Anna Peters and Ida Wetterer with Bizet Carmen selections. Others such as Irmengard Becker Antoinette Werner Olga Herman and Selma Samuelson displayed strong dramatic voices. Miss Vigna departs tomorrow for vacation abroad.
Arrangements are complete for the Cincinnati Street Railway Employees Mutual Aid Society No. 1 annual picnic at Reichrath's Park on Thursday June 21. The committee led by Hasselberger Koeninger and Sullivan organized ticket sales with prizes including a solid gold lapel button.
Rumors on New York Stock Exchange suggest Baltimore & Ohio directors may declare a 5 percent dividend on common stock, backed by claims of 12 percent earnings this year, though board sentiment opposes any payout now as multi million dollar annual improvements are planned for five years. Atlantic City hosts the Association of Baltimore & Ohio Railway Surgeons where officers are elected including President Dr. R. B. Short and Secretary Dr. G. A. Davis.
The Lackawanna Railroad presents a book titled Ghost of the Glacier and Other Tales, a collection of short stories set along the line. The volume features attractive printing and illustrations with no commercial advertising, drawing on Indian legends and Revolutionary War history from the railroad corridor.
The Merchants' Association of New York asks Chairman P. J Mc Govern to reopen the June 1 revision of the Southern classification. A June 139 Chicago meeting of the Southern Classification Committee is planned with Merchants' representation. They claim the readjusted rates cause undue hardship to shippers and have prepared an analysis to support their position.
Bankers Syndicate led by Ver milye Co and Halgarten Co to buy 1st mortgage 6% bonds at 130 net and issue new prior lien 3% bonds 4% first mortgage bonds plus stock. Holders may take cash or securities. Receiver Hunt sues ex president Kneeland for 500000 over failed improvements contract.
President Huntington says Southern Pacific profits exceed fixed charges but dividends unlikely for twelve months. He expects dividend payments within two years as major improvements near completion, with caution to avoid starting and then stopping dividend payouts. The reorganized Board of Directors is involved.
BE Harriman elected chairman of Kansas City Southern Railroad. Max Pam general counsel says new securities will be distributed here and in Europe simultaneously during the current month.
Lexington June 2 stockholders of the Elizabethtown and Big Sandy Railroad held their regular annual meeting with C. E. Wellford J. D. Davie G. B. Wall and others present The board of directors elected G W Stevens President D Axtell Vice President C E Wellford Secretary and C B E Potts Treasurer The officers mirror those of the C O and the Co O owns the Elizabethtown and Big Sandy resources flourish but no road condition details were released
The United Singers plan a Zoo day with choral selections of old German folksongs and lieder. The North Cincinnati Turn Society will present gymnastic exercises and the Hudepohl combination will perform. Addresses by Judge August H. Bode and Hon. John A. Caldwell conclude the program.
The St. Lawrence Dramatic Circle under Anthony Matre prepares a new Quo Vadis adaptation with a revived Christ figure and prominent St Peter and Petronius roles. Music by Prof Boex, costumes designed, large cast at Music Hall expected. Lead roles listed include Vinicius Leon Harman and Nero Jules Deiniger among others. Christ actor not yet chosen.
A 40 brewer delegation from Ohio will travel from Cincinnati to Atlantic City Monday afternoon on two special Pullman coaches. About 20 Cincinnati brewers join from Columbus meeting points. Notables include John Moerlein and Louis Hauck. The Brewers Association session runs June 5 to 7 at Hotel Rudolph with talks on ending pony beer kegs and lifting the $1 per barrel war tax.
June 2 Inverary Castle near Kent is put on the market by the Duke of Argyll. The vast estate and historic mansion draw curiosity over who may occupy the property in England.
Final arrangements are set for the Bavarian Society celebration starting today at Reichrath's Park and continuing Monday. Delegations from Indianapolis Columbus Cleveland and other cities expected. parade at 9 with over 1 000 men and three floats. The Damen Verein Eidelweiss will present a flag and prizes for ticket sales.
Financial Secretary Frank T. Foster of the Mexican War Veterans Association appeals for home backing to arrange hotel and rail rates for the encampment. He notes seven surviving Mexican War veterans in the city and about 7,000 visitors nationwide, urging Chamber committees and local groups to respond to calls and begin entertainment arrangements.
The Monday Evening Club meets June 18 at the Cincinnati Or phar Asylum on Mt. Auburn. Lee Smith of the Humane Society will read a paper titled Humane Society and Its Workings. The asylum building and grounds will be open for inspection. all members are urged to attend.
A social for deaf mutes was held in the Sunday school rooms of St Pauls Pro Cathedral with sign language introductions and chatter. Rev A W Mann, visiting from Grand Rapids, Detroit and Jackson, will lead services today at 11 am and 3 pm for benefit and remembrance of the anniversaries.
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