The Bridgeport evening farmer., 1913-12-24
THE FINANCIAL SITUATION.

New York, Dee. S24-The notably improved tone of the stock mark ct since the agreement arrived at be- tween the Department of Justice and the American Telephone & Telegraph Co. regarding reorganization of the latter is a striking evidence of the growing conviction of corporate inter ests that combinations in violation of the Sherman antitrust law will be dealt with by the administration as lententlS as is consistent with the oo- servance of the law. However, it is a
 matter of grave doubt whether any of the other big corporations under Fed eral investigation could dissolve or re- organize on any such plan as that ap- proved for American Telephone & Telegraph. It is the opinion of di- rector of several of the largest cor porations that neither the Steel Cor poration, nor International Harvester. nor American Sugar Co.,, nor American Can Go. nor any other of the import ant companies against which suits have been brought, could arrange their affairs as satisfactorily, unless the Government reeeded materially from the attitude taken in the Union Pacific dissolution.
 Several of the larger copper selling agencies have raised their asking price to IA E cents a pound for elec- trolytic 80 days. This is an advance of E c a pound over the recently pre- vailing quotation, and is due mainly to the steady buying by Europe. It is expected that demand from domestic consumers will continue small until after the first of the year.
 Despite the chaotic state of indus trial affairs in Mexico the Mexican Telegraph 6 Telephone Go. is in a relatively favorable position because it has continued to operate while American owned mines and other en- terprises had to suspend. The com pany's earnings will run somewhat behind those of last year, though it is some consolation to the management and stockholders that it did not meet the same fate as some of the less fortunate concerns.
 The Southern Pacific management is engaged in working out a financing plan, which however, has not yet talk en definite form. It is authoritatively stated that no new financing will be undertaken in January. There is no foundation for the report that the company is considering a $50,0O0.000 to T5,o0O,0o0 convertible bond issue as such a move is out of the question with the stock at present levels.
 WeIls-Fargo Co. has declared the regular semi annual dividend of per cent. Accompanying the dividend an- was a statement from the directors as follows: We feel it IS time to inform stockholders that in view of the conditions facing the corn-l pany in the express rate reduction eff fective Februaryf1, the outlook for net earnings is discouraging, and in view of this the continuance of the present dividend rate is uncertain
 The Central Leather Co., has de- cIared an initial dividend of S2 on the common stock, payable February 9 This action has been brought about by a minority stockholders movement about three years ago.
 Declaration of the regular dividend of 75 cents a share on Anaconda stock indicates that there will be no change in Anal galnated's rate at the meeting of the Iatter's board In January, Ana conda furnishes the largest proportion | of Amalgamated income. Anaconda 1 on the basis of recent copper prices | has been losing at the rate of some- | thing like $2,O00.o0O a year after dividend payments, but 1t has a large | surplus which it can draw upon for | dividend requirements.
 The Delaware & Hudson Co has | ordered 12,OO0 tons of steel rails from | -he Bethlehem Steel Co. for 1914 de- | livery. The company retains the privi- ; ege of an option exercisabIe on or | before May 1 for the cancellation of | } 900 tons of the order.
 Within the past week there have been advances in the former Standard | )H subsidiaries ranging from 10 to 10 points, accompanied by renewed