The new mills planned and in course of construction, and the extensions to existing ones, will, if carried out as intended, add a per-diem capacity of 840 tons of newsprint before the end of 1918. During the twelve months ended March last the amount of printing paper exported was 463,204 tons, or at the rate of 1,544 tons per day, as compared with a tonnage of 292,579, or 975 tons per day, in the corresponding period ended March, 1914.
INTERNATIONAL PAPER INCREASES DIVIDEND
The International Paper Company doubled its dividend last week by declaring a quarterly distribution of 1 per cent., or 4 per cent. per annum on the preferred stock, as compared with the 2 per cent. annual rate maintained since 1908. There is $22,407,000 of the preferred outstanding.
BUYING CANADIAN MILLS.
N. M. Jones of Bangor, Maine announces that at a conference of capitalists in New York, from which he has just returned, the sale of the largest pulp and paper mill in the Canadian Maritime Provinces to a syndicate of Maine and New York men was arranged. The property, for which it is said $2,000,000 will be paid includes mills at the Reversing Falls, near St. John, N.B., and large timber lands in New Brunswick. The syndicate includes Hugh Chisholm of Portland, President of the Oxford Paper Company, and Maynard S. Bird, also of Portland.
PROTECT YOUR WIRE ROPE WHEN NOT IN USE.
When a shipment of wire rope is received and is not to be placed immediately into service, see that it is stored away in a place protected from the weather and any acid fumes. It is advisable to coat the outside layer of the reel or coil with a good lubricant.