The Bridgeport evening farmer., 1914-04-13
Ih FINANCIAL CIRCLES

New York, April 1s-The executive committee of the Union Pacific Rail. road will meet in the near future to decide definitely whether or not the. dividend shall be maintained at the 18 per cent. rate. In this connection, Chairman R. S. Lovett, who has just returned from Europe, is quoted as follows. e.If the 10 per. cent. rate on Union Pacific stock is continued pend ing settlement in the courts of extra distribution, it will be contrary to. previous intentions and arrange. ments.' This, however, does not mean that the 10 per cent. income rate to
 Union Pacific common shareholders
 will be affected, as the company made
 the following Announcement several
 weeks ago: In case the payment of
 the extra distribution shall be post
 poned beyond April l. 1914, any divi-
 dends applicable to shares of stock
 of Baltimore & Ohio Railroad CO rep
 resented by said warrants declared
 and payable by B. & o. after April
 l. 1914 which shall be collected by un- dersigned company will be set. apart and held for benefit of holders of war
 rants ultimately entitled to said extra. dividends The. bank statement showed a: prompt and substantial recovery by
 clearing house members from the first Of the month financing There was an increase of more than S8,OO0,000 in surplus reserve, while cash holdings showed d gain of S7,4e0, COG. A con traction of s10, ,000,000 in loans took place A compa risoh of the average with the actual statement shows that the condition of the banks was sharp 1y improved toward the close of the week.
 Gross earnings of the St Louis & San Francisco Railroad for March showed an increase of about $4,00e over the same period of a year ago. For the nine months revenues were within s200; ;00e of last years records This showing 2 is somewhat better than rat
 of other roads opersting in the south west and is Eonsfdered remar<kabfy well in keeping so close to t.1e figures 1 of a year ago. One million ivy entx~ seven thousand was spent on 1nain- Etenance of way, which is 27 per cent.
 more than the amount used for the same purpose Of last year. 3966 900 was expended in maintenance of equipment which is 2.7 per cent. increase. The total advance in maintenance expendi-
 lures of $1 .993 900 exceeds the loss in were cut s4S4, eco or 4 per cent. and as gross earnings were nearly stationary, an Improvement in transportation ra- Iio was effected.
 J. P. Morgan & Co. have sold q, . GOO GOO of the 3 1-2 50-year Detroit Ter
 
 River Tunnel CO guaranteed prInci- pal and interest by theS Michigan Cen traE Railroad This brings sshe Total
 amount outstanding to SIS 900, ,00e out of an authorized issue of $90, 600, GOO. The last block sold, Amounted to- = $50, ,000 and was sold in January on a
 basis to yield 4.70 per cent. ZThe Nevada ConsoIidaf afed Copper Go. showed a deficit of s102s554 after dividends in it's report for the year ended Decemb err 31. 1913. Net operat- 1 ing profit was s2,O1S,4A, a decrease of more than a million dollars. (Henry C9ews.)
 The outlook is still one that demands more or less caution. It remains true l that conditions are generally sound. yet business is dull. chiefly because 1 tof lack of confidence President Will son is undoubtedly doing his best to keep down ftfles1id and restore much
 needed confidence and quiet to the country at large, but with the Con gressiona1 elections coming next fall
 more or less political fireworks at
 " Washington seem to be ir1evitable.
 Perhaps it is just as well not to take
 these too serionsTys Many of the de- l vote getting operations; and unless
 all signs fail there are indications of a coming change for the better, in l which the forces of conservatism will be awakened as they: should be- into I Some sort of effective resistance
 against excessive radicalisfn For the l time being, however ; financial opera 1 tions9 will shave to be conduct ed Awith #cautien untii general fmnroy epne nts can
 be detected in the political and indus I trial outlook.