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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Feb 01, 1889
Page
2
The DisPatcH reports the Hostetter and Frick interests sold to the Vanderbilts for 60 cents on the dollar stirring talk of possible abandonment of the South Pennsylvania Railroad. Pennsylvania Railroad backing eyed, Pittsburg stockholders weigh losses, and Depew weighs impact.
H C Frick heavy stockholder in the city gave a statement to the Dispatch about the stock sale tied to the Penn railroad project. He denied signing the new agreement with the Vanderbilts and Ferguson and said the venture likely will be dropped unless new life appears. He claimed he acted alone and knew little about Hostetter interests.
Glass magnate H Sellers McKee argues the South Penn project is viable only with Vanderbilt backing and warns the line faces ruin without their influence. He cites misaligned connections and the risk of a protracted rate war, predicting broad stockholder losses if the deal collapses.
A dialogue asks whether Frick held power of attorney to sell Pittsburg stock. Respondents say Frick likely had no authority and claim their shares remain unsold. The group notes total stockholder payment around five million dollars and suggests Hostetter sold to settle his father’s estate.
A Schoonmaker Coke Company representative briefed on the South Penn rail project cites its potential to boost shipments. He notes the firm produced over 800000 tons of coke in 37 000 cars last year and argues Pennsylvania rail growth lags behind regional needs. He warns PA R R cannot sustain peak traffic and urges competing lines to unlock regional development.
Frick Coke Company posted notices promising current wages after labor talks. rivals deny concessions. Cokers threaten strike if Leale not signed, citing 61 to 66 percent higher pay at Frick works. Operators refuse wage increases, preferring shutdowns. National Progressive Union gives until Saturday for response.
Lake Erie official Holbrook doubts reports of South Penn collapse but says if built it would provide an eastern outlet, boosting freight to the Lake Erie system. A Pennsylvania official comments cautiously after returning from New York.
The report says 46 local assemblies of N. D. A. 198 with over 10,000 members will quit the Knights of Labor. Voting is set for Saturday night, with expectant desertion. leaders criticize Powderly and his salary, while one member backs withdrawal.
George Shiras Jr the Pittsburgh stockholders solicitor said the road would be built but he claimed that the Vanderbilt family seeks to own all stock to secure a monopoly. He argued the family will not ally with Pennsylvania people but will push building after securing control.
An official in railroad circles discusses the possible collapse of the South Penn project and the sale of the Hostetter interest in the Lake Erie line. Observers say the move looks suspicious and await further word this week to confirm whether other Lake Erie interests will be sold.
D T Watson, once attorney for the South Penn, declares he has no current ties to the road and believes the railroad’s affairs have abruptly concluded. He notes Pittsboro and others disfavor the outcome and that he only learns of events through the papers.
Mr. Horace G. Young vice president and general manager of the Delaware and Hudson Canal Railroad is in the city and asked for his views on the South Penn question. He said his line has little to do with trunk lines and nothing with the Pennsylvania Railroad and has given the matter little thought.
Special Agent Swartz received a letter from P. J. Maguire of the Brotherhood of Carpenters and Joiners denying any financial support for Thomas B. Barry’s movement against the Knights of Labor. Maguire states donations from his union or the Iron Molders International Union were not given and urges harmony between trades unions and the Knights of Labor.
Israel Baker died in a Chicago eating house about seven years ago leaving a will giving all property to cousins Thomas and Edward Jacobs and their heirs if they were dead. Thomas Jacobs died at Braddock four years ago, leaving a wife and six children who now claim the estate. Mrs Jacobs believes her husband was the named cousin. the children say he claimed such a relation. An investigation will be made at once.
Mr P H Laufman of Apollo Sheet Iron Works returned from New York and Washington where he pursued a tariff advance on tin. He doubts the Senate tariff bill will pass this session, citing a Republican working majority in the next Congress and predicting delay until then with eventual passage.
D. A. of L. has secured spacious quarters at 101 Fifth Avenue and will move in April 1. The district must vacate 543 Wood Street as the old building is to be torn down for an eight story granite replacement.reports say the Knights cannot pay the rent.
John Kelly, a mill worker, objected to a tramp sleeping on Moorhead and McCleane's premises. The tramp struck him, and the night watchman arrived to help. The assailant bit Kelly's arm before fleeing.
Preparations are complete to begin operations of the Allegheny Bessemer Company at Duquesne on Monday. All required workers, mainly skilled rail makers displaced by the Edgar Thomson strike, have been engaged.
Rumor claims the Amalgamated lockout at Dilworth Porter and Co may end soon. An claim that eight car loads of spikes were sent to Indians and returned was denied by Dilworth who called the report false and said no spikes were returned. The same source alleged Dilworth Porter and Co sent iron to Wayne Iron Works to load the mill, a claim the company disputed while noting no need for iron at present.
The School of Design concluded its exhibition with judges awarding medals in several departments. Laura Dummett won the gold for Japanese ware. Mary Patterson the silver for luncheon delicacies. Emma Patterson won first prize for a drawing of an old lady, and Palmer earned first prize in water color for grapevine. Emma Patton took gold in drawing from life and Meer Murray bronze for full length antique drawing.
Allegheny Finance Committee met last night with Controller Brown snubbing a member. Bids for 100000 of 4 percent water bonds were read led by W I Quintard of New York at 107 5 100 for full amount, awarding to Quintard. Lare objected and license plate bids were postponed. Delinquent tax duplicates must be settled by April 1 or suits against bondsmen.
An old man’s gold watch was sent for repair and a son in law, in need, pawned it. A sealed empty box was mailed to mislead express workers, causing a hollow chapter until a route agent exposed the scheme. The watch was recovered and the $50 value avoided.
John Lochner lies in a critical condition at his home after a drunken assault last Tuesday evening. Alderman McKenna heard charges against Haugh Carr Hugh Batie John Mitchell as Joseph Duncan for assault and riot. A separate note reports Adelaide Smith and her baby found starving in Pleasant Valley near Sharpsburg. A horse died after Cornelius Driscoll, a fireman, gave medicine from the wrong bottle. An auction sale notice promotes jewelry stock and guns at bargain prices ahead of removal.
An ex cur sion by 125 Rensselaer Polytechnic Institute alumni visits Pittsburg area plants and displays, including Ford Bros glass works and Westinghouse, with tours, meals, and a Monongahela House reception. Notables include James Hall New York State Geologist and W H Boyd of Detroit.
The Mutual Benefit Life Insurance Company reports 1888 gains with assets at 69 on valuation, surplus near 3.96 million, and total new insurance written of 18.9 million. In force amount reaches 153.5 million across 57,954 policies, average policy value about 2,645. Disbursements to policyholders exceed 4.95 million including death claims, endowments, dividends, and cash surrenders.
We have finished stock taking and offer our entire line of Worcester Doulton Crown Derby wares Vienna bronzes French marble clocks French bronzes lamps pedestals at 20 to 40 percent off. This extraordinary clearance includes prices often below import cost. W. W. Wattres Importer 90 and 32 Fifth Avenue.
A local auction advertises clearance pricing on men and boys clothing including suits overcoats shirts and underwear. The sale promises unbeatable values and urges the public to attend at the Hob Clark House 499 Smithfield St. The Hab location is noted.
The ad lists giant clearance notes for ladies wear and children’s winter clothes at Busy Bee Hive and Allegheny stores. It touts silk sales, corsets, shawls, bonnets, blankets, garments, and discount fabric yards with promotion to visit upstairs showrooms. Also claims cash for old gold and silver and promotes KIDDs Cough Syrup and tableaus in corsets. Market settings include Sixth and Liberty and Fifth Ave locations.
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