The Bridgeport evening farmer., 1913-12-29
HOPE FOR PEACE
 IN SOLVING NEW HAVEN'S PROBLEMS

New York, Dec. 29-It seems to be good opinion in well informed 1nan- cial circles that the dissolution of the New Haven Railroad system will be accomplished in a manner favorable to the federal government which will eliminate litigation so far as the de- partrnent of justice is concerned. This feeling has been reflected in the stock market where a recovery in New Ha- ven shares has occurred. Such a dis solution will doubtless provide for the compIete disrn nemberment of the Sys- tenn as it now stands and it is ex- pected to result in the disposition of the Boston & Maine control now held through the Boston Holding Co. Ff- nancing the $27,0O0,00O notes of the Boston & Maine has not yet been ar franged for. In fact the bankers who distributed the original issue have thus far failed to agree. At one time 1t was planned to use as collateral for a loan the 34,000 shares. of the Maine Central now resting in the Boston & Maine treasury but such proceeding would violate the Massachusetts laws.
 An alternative suggested has been that Maine Central might retire a por-s ton of it's per cent. stock and sub stitute per cent issue, thereby creating a more attractive security. This scheme, however, has been nc more enthusiastically received. Of
 
 February 3, and $17,000,0o. June 1.
 The result of competition introduced by the United States government when it inaugurated it's parcels post system will be felt by the holder of shares in the Big Four Express Co. The stockholders that ca continuance of the present dividend rate will proba- bly, not be warranted hereafter.'' The Company has been paying 12 per cent for some years. Not alone has this and other companies felt the gov ernment competition but operating ex- penses have been increased while rates have been reduced to become effective on February 1. The Adams Express management say that it will be aseer- tained during the course of the coming year whether reduced rates will suff1- ciently increase business to afford a reasonable return for the service gen dered.
 The Tobacco Products corporation will decrease it's authorized capital stock from $3,ooo,o 600 common to s16,- coo, 900 and from $20, ,0Oo, 100 per cent. preferred to 10000, 900. It is also pro- posed to reduce the outstanding pre- ferred to $8,OO0,000. Stockholders have been called in special session to vote on these proposals. All of its plans have been laid in the purchase by the company itself of 20, 900 shares of pre- ferred. The common stock has never been widely distributed as at the for nation of the company those sub scribing to the preferred stock were given the common stock. Through the proposed reduction a material saw ing of taxes will be effected. The Tobacco Products corporation was or ganized for the purpose of taking over several cigarette manufacturing con- cerns and has acted simply as a hold ing company, the manufacturing be-! ing maintained by the individual cor-l poratfons as formerly.
 Protective steps have been taken by the holders of the first mortgage 5 per cent. bonds of the Mount Yer non Woodberry Cotton Duck Co.,, a subsidiary of the International Cot ton Mills corporation of Massachusetts, It is proposed to probe the relations of the Cotton Duck Co. located in Baltimore with the parents corpora tion. During the past few weeks inn portant conferences have been held in Baltimore in which Boston bankers have taken a prominenb part.