p. 14 | New Trusts

Pacific Press Publishing Company · Oakland, California · Feb 15, 1899

New Trusts

New Trusts.—Two soap manufacturing trusts are now in process of formation, one in Chicago, and the other in Boston, the Chicago concern with a capital stock of $100,000,000, and the Boston trust with a capital of $29,000,000. . . . . Railway car manufacturing companies are negotiating for the formation of a trust, in which many million dollars will be represented. The moving factor in this new deal is the Michigan-Peninsular Car Company, which has a capitalization of its own amounting to more than $8,000,000. . . . . The charter of the Merchants' Wire and Wire Goods Company, a trust, was filed at Trenton, N. J., on February 4. This trust will control the output of large mills in both the East and West. . . . . A combine covering all grades of oatmeal and breakfast foods is now in process of formation. The capital of this new corporation amounts to about $33,000,000. . . . Negotiations were completed on February 1 for the consolidation of all the leading pottery companies in the United States, with a capitalization of $40,000,000. . . . . The Union Tobacco Company of America, with headquarters at New York City, has filed with the Secretary of State an increase of its capitalization from $19,350,000 to $24,000,000. This increase in stock was secured by the consolidation of the Union Tobacco Company and the North American Commercial Company. . . . . Seven of the largest salmon-packing concerns on the Columbia River have formed a trust under the name of the Columbia River Packers' Association. The capital stock of this new organization is $2,000,000. . . . . There is a trust in process of formation to be known as the United States Cast-iron and Foundry Company. Its capitalization is $24,000,000, and the firms which are uniting to form this corporation are said to control ninety-five per cent. of the total output of cast-iron pipe in this country. . . . . A milk trust has been organized in Chicago, of which Joseph Leiter is the head. The capital stock is principally in the hands of Leiter, he having bought outright the routes of many of the milk dealers. The capital stock of the concern will be $10,000,000. The trust promises not to raise the price of milk for the present, but holds out no promises for the future. . . . . The National Steel Company is about to be incorporated in New Jersey, combining many wealthy firms, and capitalized at $50,000,000. It is expected that within a short time other firms will join the combine, raising the capitalization to about $700,000,000.

International.—China has conceded to England the opening of the city of Nan-ning as a treaty port, which the British consider necessary to the exploitation of West River. The Chinese foreign office also agrees to pay $30,000 to the relatives of the murdered British missionary, Mr. Fleming. . . . . France is endeavoring to raise a loan of $50,000,000 in England, with which to build war ships and make more effective the equipment of her army. . . . . The French ambassador at Constantinople has entered a vigorous protest with the sultan against the concession to Germany of a port and dock at Haidar Pasha, nearly opposite Constantinople, on the south side of the Sea of Marmora, which is to be used as a terminus of the Anatolian Railroad. . . . . An uprising of peasants occurred at Craiova, Roumania, on February 4, which was so serious as to call out two regiments of troops for its suppression. It is reported that the peasants repulsed the troops. The trouble was occasioned by a landed baron refusing any longer to lease his land. . . . . Another rebellion has broken out in Uruguay and the rebels have captured the town of Carmelo. . . . . Capital has been subscribed for building a cable direct from Germany to the United States. It is understood that this enterprise is fostered by the German Government for Germany's protection in case of war with England. . . . . The natives of the Kongo Free State are driving in the Belgian outposts, and destroying Belgian stations. The Belgian troops are being concentrated near the railway, and it is feared that Leopold's domination in Central Africa will shortly collapse. Belgian commercial houses have already lost millions, and the prestige of the whites in that portion of the Dark Continent is waning rapidly. . . . . The Australian colonial premiers, who have been in conference at Melbourne over questions referred to them by the colonies in regard to federation, have reached a unanimous agreement, and the federation of these colonies seems to be assured. The federal capital, like Washington, will be in federal territory. The Parliament is to consist of a Senate and House of Representatives, and an absolute majority of the members of both houses is to decide all questions.

Domestic.—The Sundry Civil Appropriation Bill has been completed by the House Committee, and carries appropriations amounting to $62,027,931, $20,000,000 of which is for the purpose of carrying out the "obligations of the treaty between the United States and Spain." This amount will be payable immediately upon the exchange of ratifications of the treaty by the two governments. . . . . The American Board of meat survey at Havana has condemned nearly 11,000 tins of canned meat which have been furnished as food for the soldiers. . . . . Bishop Henry C. Potter has secured the necessary funds for starting what he calls a "twentieth-century saloon" in New York City. This is to have all the furnishings of the ordinary first-class saloon, with the exception of liquor. . . . . On February 6 the House passed the census bill providing for the taking of a census of the United States in the year 1900; also a bill to extend to the territory of Hawaii the anti-contract labor laws of the United States. . . . . The House Committee on Commerce has recommended for favorable action the Hepburn Canal Bill. This is a substitute for the Morgan Bill, which passed the Senate. It is thought that final action upon the Canal Bill during this session of Congress is practically assured. . . . . According to records compiled by the Express Gazette, the number of train robberies in the United States during the year 1898 was 28. In these hold-ups five trainmen and five of the robbers were killed. . . . . On February 6 the Senate ratified the peace treaty between this country and Spain, by a margin of only one vote more than the necessary two-thirds.

The battle-ship Iowa, which made the trip around the Horn in company with the battle-ship Oregon, arrived in San Francisco Bay, February 7. The Oregon is on her way to Manila. . . . . Commissary General Charles Patrick Eagan has been found guilty of conduct unbecoming a gentleman and officer in the United States Army, and was sentenced by the court-martial appointed to try his case to dismissal from the army. The sentence was commuted by the President to suspension from the service for the period of six years. . . . . The Naval Committee of the House of Representatives has recommended the building of twelve new war vessels, three of which are to be battle-ships of 13,500 tons' displacement, costing $3,600,000 each; three armored cruisers of 11,000 tons, costing $4,000,000 each; six cruisers of 2,500 tons, costing $1,141,800 each. The committee contemplates recommending the building of three cruisers of 6,000 tons' displacement, at a cost of $2,500,000 each.

Casualties and Calamities.—Five persons were killed and one injured while crossing a railroad track at Riverton Station, Pennsylvania, on February 3. . . . . More than a score of persons lost their lives in a terrible fire in the village of Nagyprobrooz, Hungary, on February 6. Nearly the entire village was destroyed. . . . . The steamer Empress of Japan left Vancouver, B. C., on February 1, with over a million bottles of beer for the Americans in Manila. . . . . A fierce conflagration nearly destroyed one of the largest business blocks of Columbus, Ohio, on February 2. The loss is placed at $750,000. . . . . A fire destroying property valued at over $300,000 occurred at Philadelphia, February 6. . . . . Four Indians were killed and a number wounded by U. S. deputy marshals at Juneau recently. The Indians were drunk, and rushed into the town to avenge the killing of one of their number. . . . . It is estimated that 30,000 sheep in Southern Colorado are dying of cold and starvation. Many cattle also are dying of starvation both in Colorado and Wyoming. Nearly all railway lines in Colorado are blocked by snow, resulting in much inconvenience and suffering.

The Philippines.—The Filipinos attacked the outposts of the Americans around Manila on the night of February 4, and a general engagement followed immediately between the Filipino and the American land and naval forces. Fighting continued for forty-eight hours, with the result that the Filipinos were repulsed, losing, it is reported, about 2,000 killed, 3,500 wounded, and between 4,000 and 5,000 prisoners. The Americans lost 49 killed and 148 wounded, according to the report of General Otis. The Americans are advancing, and driving the Filipino forces farther from the city and their original positions. The water works which have been in the hands of the insurgents since the capitulation of Manila by the Spanish, were captured by the Nebraska troops. General Aguinaldo has declared war against the Americans, and urges all his followers to unite for their freedom. His private secretary has been captured within the American lines, and will be held as a spy. The city of Manila is reported to be full of armed desperadoes, and the troops are compelled to keep close watch against incendiarism.