The Bridgeport evening farmer., 1914-04-01
IN FINANCIAL CIRCLES

(The Barron Financial News Service-)
 New York. April 1@The vigorous retrenchment policy inaugurated by the eastern railroads is believed to havef been responsible for the action of the Interstate Commerce Commis- sion In re-arranging it's schedules so as to permit of a continuance on We'd uesdax af the nearings in the freight rate iaEEease& case The laying off of thousands Of employees, withdrawal of trains and Harious other measures taken to efreHt Economies in operating costs suggest that the roabds are facing serious situation. In connection with zSrfofk & westerns retreuch- znefzt plAnss President Johnson say all work pdssibie has been retarded and d ebfksz derahle amount of o additions and hetterme4t work has been sus- psnded and viii be held in suspense uiit tin Buziness conditions show inn p86x@hneu4. Passenger train service will be maintained to meet require n1enfs and the property win net be pern1k<sd to depreciate either ee to track 6r Equipment
 E ". shipaey ana T.. de Biuym have been elsatsd Directors of the M Rune Iy Go. to sdeceed A. J. Rumely and CR Holton, both of whom resigned. Afe. Holton has been elected secretaIy ok the com pany to succeed Edward A. Rlirnelys MT. de Biuym represents AseIph Boissevain & Go. of Amster- dam
 qi1Afferfy dividend of A per cent. Great Northern Railway announced thar the dividend will apply to the cornuas1yfs s Seutsta nding recefptssfors full bald 50 bsc15 ptions to whole shares of stock sf the sz1.OOos 00o stoel<S issue authorized by the directors Dece1nber 51912 and shall be paid to the hold CTS of such receipts as they appear of record at the close of business April g. 1914.S- when said receipts are ex- changed for and converted into regu- lar stock certificates, provided how ever. such shall not be made prior to May 1. 1914 The dividend shall also be paid on May l. 1914. to the hold CTS oR record on that date of. any shares of the company s capital stock issa7e after the close of business April S.e1s1z, in exchange. for the conn panyss stock script
 President Theodore N Vail told American Telephone & Telegraph stockholders at their annual meeting that the company would not be re- cauired to do any financing until the. first hA1f of l976s With regard to subsidiary companies, however, he said arrangenents are being made to take care Of fne1rs nndnc1dlf neeQSss
 Present Indications are that the rail- roads of the country will run from SsO. O00, GOO to $10O. GOO, 900 behind 1918 on this fiscal years net earnings, after payment Of taxes Definite fig ures from the Interstate Commerce Commission for six montfs' earnings of the Glass A roads which may be taken to represent roughly the posi- ton of the railroads as a whole, show a gain In gross of $4,50o.0 900 and a loss in net operating income of s66,- sg2. 2.000. Preliminary figures from the same source for January show a de- crease of SIS. .50O,000 in gross. and nearly $12, ,000. GOO in net. For the seven months to the end of January. therefore. groes earnings are off about s12.o0 (, ,80b, wl1i1e net after taxes is lower by about SIS. 900, 600. What is known as to February and March earnings makes 1t probable that these two months VIII bring the recession in gross sup to s3s,O00.0 900, and the shripkage in net to $9O.000. .O0o or more
 ork Gonnecting Railroad Co.,, stock sylvaraiay and half by the New Haven. Service Commission for authority to issue s5.oB0soo0 first mortgage gold bonds Bonds amounting to $11, 9e0s- GOO have already been issued and sold, and the additional $5.o0o .000 is re- qufred for further construction and equipment