AMERICAN NEWS.

Greymouth Evening Star, Volume XXXI, 9 November 1901, Page 4

AMERICAN NEWS.

Mr M‘Kinley’s Estate.

It is given out on authority that the M'Kmlcy estate will total 225,000d0l to 250,000 dol, including life insurance of 67,000d01, Aside from the 67,000 mentioned, the estate consists of real estate at and contiguous to Canton, and of deposits in Washington banks. The will was in the late President’s own handwriting. Profits of the Steel Combine.

The directors of the United States Steel Corporation have declared the regular quarterly dividends of If per cent on the preferred stock, and 1 per cent on the common stock.

According to the statement of the corporation for the six months ended September 30th, the total net earnings from operations were 54,954,871d0h After deducting 7,359.7G5d01, set aside for sinking funds and maintenance, and six months interest charges on bonds, 7,600.000d01, there remains a balance of 40,295,166d01. The balance applicable to surplus and new construction, as the Board of Directors may direct, after deducting the dividends for the two quarters, was 12,326,742d015.

Coal Discovered near Vancouver. A remarkably high grade of lignite coal has been discovered within a short distance of the principal business centre of Vancouver, and preparations are now under way to work the property on a large scale. Connected with the discovery of the mine runs a romance of twenty years’ standing. As long ago as that the coal property was discovered by an old Fraser river prospector. This man was murdered in bis cabin near the property while he was prospecting it. Among the papers of the dead man was found a chart disclosing the approximate location of the vein. The man who secured the papers had searched at intervals ever since the death of the old man, but the treasure remained undiscovered until a short time ago owing to the dense underbrush which covered its location.