of all the properties of the company would be placed in his hands. The company has decided to establish its general offices in Pittsburg, and this will necessitate the removal of Colonel Hearne to that city. It is understood that two floors of the Conestoga building, corner Wood and Water streets, have been leased, and that complete offices and headquarters will be established there within a few weeks. Pittsburg was selected because that city is recognized as the center of the iron and steel manufacture of the company, and the most central point for the properties of the National.

The National Tube Co. has made no mistake in putting Colonel Hearne at the head of its manufacturing department. His experience and ability will be invaluable, and the 25,000 workmen in the various plants may feel reasonably assured of steady employment so long as there is a market for pipe, while the stockholders can look forward confidently to success. His departure from Wheeling will be deeply regretted, not only here, but throughout the State. Wheeling's loss will be Pittsburg's gain.

It will be particularly gratifying to Wheeling people to learn (the information comes from an authoritative source) that it is Colonel Hearne's intention to as early as practicable double the capacity of the Riverside. He may be depended upon to keep a watchful eye upon his "infant" industry. The augmentation of the capacity of the plant will mean employment for many more men, and the continued industrial prosperity of Wheeling and vicinity.

(From the Kansas City Star, 1903.)

New York, Sept. 3.-- Frank J. Hearne, formerly president of The National Tube Co., has been placed in full control of the Colorado Fuel and Iron Co. Mr. Hearne, who is said to be the joint choice of the Gould-Rockefeller interest in the company, was elected president of the company and chairman of the board of directors at a meeting held in this city.

No action regarding the dividend on the preferred stock of the company was taken. The preferred stock, of which $2,000,000 is outstanding, bears interest at the rate of 8 per cent. This dividend is cumulative. It is payable semi-annually, in Sept. and Apr., and the Aug. directors' meeting is the one at which the declaration is usually made. None of the details of the plan to provide fresh funds to the amount of $13,000,000 was taken up at the meeting. It is understood that the plan will be worked out in full detail by the

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Thanks to Lewis Hearn for transcribing this page.