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Show IRISH INDUSTRIAL SCHEME. Twenty Millions of American Capi-. Capi-. tal For Mills in Ireland. A statement is in circulation, says the London Daily News, from what is believed to be an authoritative source, of the intentions of a powerful American Amer-ican syndicate in regard to the Irish corn milling trade. The objects of the American syndicate, syndi-cate, according to information circulated circulat-ed in milling circles, are as follows: The capital of the new combination will be J20,000,000. It is contemplated to erect a large mill for the grinding of corn in Belfast, and a net work of other milis for the same purpose at other seaport towns in Ireland, such as Derry, Water-ford, Water-ford, Cork, Galway, Sligo and Dublin. The main idea is to have the mills erected at the water's edge and built on the quays, where the cargoes of corn can be discharged into them by means of elevators. A great saving would thus be effected at the cost of cartage and unloading. Another feature of the undertaking is to have a fleet of small steamships from 150 to 200 ton carrying capacity I that could distribute from the principal princi-pal manufacturing depots the Indian meal to the small seaport town adjoining ad-joining the principal . centers, which would effect an additional saving in railway freights and other expenses. Derry, Bublin and Galway have been visited bv two members of the syndi cate, as well as Newry. The mill to be erected at Belfast, if the undertaking is carried out, will be a very large one, having an output of 5,000 tons weekly, which will more than meet local needs, and after supplying country districts win leave a surplus for exportation to Scotland a branch of the trade which formerly existed. In regard to output it is said that the syndicate aim at producing weekly 5,000 tons in Dublin, 5,000 tons in Belfast and 3,000 tons each in Derry, Galway, Cork and Waterford in all 22,000 tons. , . |