The Bridgeport evening farmer., 1914-01-26
IN FINANCIAL CIRCLES

(Barron Financial News SerVice.) New York, Jam 26-Pennsylvania. Railroad will make new mortgage to secure bonds for issuance from time to time, when and as approved by stockholders to an amount not in ex- cess of the outstanding capital stock. This would permit of an authorized mortgage at the present time under which, $500, ,000. 900 in bonds could be issued. Announcement to this effect has just been conveyed to stoeihoId- CTS Of the road in the call for annual meeting to be held March 10 and con firms previous statements made in this service as to the probable blanket mortgage. It is understood that no bonds will actually issue under the proposed mortgage for some time to come but this step will be taken as pre- lfnadnary to the company's next big hrlancing.
 Stock exchange members have not beena in such good spirits as at the
 moment for more than a year. As 1914 was ushered in they were for the most part blue set of men. The past weeks stock markets actions ac- conpanied by advancing prices have
 brought an Influx of commission or; ders. the total Of which would excess that for any like period for many
 months past F have made my office
 expenses for two days in succession.''
 stated an active trader on the floor which may be regarded as a. straw in- dicating the direction of financial
 winds.
 Within week the new express rates 5wdM have become effective. This will
 doubtless be reflected in decreased
 earnings for the leading express com panles. shares of. which are listed on the stock exchange and which have sunered severe decline during the past year Big Four companies with stock exchange markets are Adams United States, Wells Fargo and Amer
 ducting a campaign for new business In opposition to Parcels Post so that reduced earnings from lower rates may be offset in part by higher volume of business handled.
 There has been persistent selling of. Reading during the past fortnight the source of which has been regard- ed as a. mystery. That the New York
 insurance companies have to dispose of their railroad holdings has long
 been known, and in this connection the belief has gained ground that one
 marketed more than 59se00 shares of Reading stock. Other possi b1e sources of this selling are the Lake Shore and Baltimore and Ohio rail Y road which. it is argued. may be dis posing of their Reading investments in order to forestal possible adverse leg islation or litigation.
 E The advancing tendency Of Consoli
 dated Gas stock during the closing days Of the week is generally attribil- ted to the anticipation Of good show ing for the past year. The company will issue its annual report today. and it is expected that despite general business depression during the period accounted for therein. the document will show that the company more than held it's own. There is no increase in the dividend rate looked for, though earnings are expected to be sufficient to warrant more than the 6 per cent. rate as has been the case in recent years Earnings are expected to be around 8 per cent. but the earnings of the system Snc1nding those undfstrf- buted by subsidiaries, run close to r r,esr- cent sss sss