The Bridgeport evening farmer., 1914-06-11
SHOEMEN DEPLORE
 REDUCED BUSINESS.

New York, June 11-Directors' meet ing of the Reading and Lehigh Val ley companies, scheduled for next week. will command more than or dinary attention. The former road will elect a president to succeed E. T. Stotesbury- Several names have been prominently mentioned in con nection with the presidency of the road, but Wall street as yet does not know who is to be chosen. In Phila- delphia, the belief prevails that MT. StoteSbury will be reelected. The Lehigh Valley directors will take a.c- ton on the quarterly dividend. Some speculators have been selling the | stock recently on the prospect of a decrease in the rate. Officially there has been nothing said on the subject, but it was learned in well informed quarters that there will be no change from the 2 1-2 per cent. quarterly rate.
 New England shoe manufa cturers are unanimously of the opinion that the shoe business is the poorest in years, A big majority of the fa.cto- ries are operating at not better than 50 per cent of capacity, and some manufacturers report that fall orders are running as much as 30 per cent. behind year ago. This unsatisfac- tory situation is attributed to the fact that so many workmen are out of ern- ployment that personal retrenchment is imperative. Thus distributors and retailers are hanging back and buy. ing from hand to mouth As to the future there is more confidence, ahd by the end of September 1t is expect ed that business will have shown nna.- terial Improvement.
 The Interborough Rapid Transit Cd has declared an extra dividend of five per cent, payable July 1 to stock of record June 20. Directors of the In terborough Metropolitan GO. failed to secure a. quorum and no meeting was held.
 The United States Steel Corporation reports thrilled orders on hand on May II at 5, ,s98. .160 tons, a decrease of 27s,s0s tons as compared with the hg- ures Of April 30. Untitled tonnage on March 31 was 4,65S. 825 tons. February 28, 5,026, 40 tons; January S1, 4,613, $50 tons; December 31. 4,282, JOS tons, and May 31. 1s13s 6, s24. .322 tons
 The report of the Calumet 6 Hecla Mining Go. for the year ended Deeem- Der 51, 1913, shows a production of 45,O ,O16 ,89O pounds of copper, produced at a cost of 14.25 cents per pound. The previous years production was 67. .856, -s 429 pounds, and cost was 9.86 cents The average yield was z2.11 pounds of copper per ton.s against 2418 bounds in 1912. The company has $4,134 900 tes@outstanding, against $5,819, ,00O q year ago.
 Jersey Centrars earnings this fiscal year will range between IS and 20 per cent. on the $27, 436,800 outstand- ing capital stock. This is a heavy de- cline from last years earnings of 267 per cent. on the same stock. It repre- sents a decline in surplus for divf- .dends or more than s2,00O, coo.
 The less favorable outlook for the bill providing for. national prohibition has prompte dspecularive buying of Distillers Securities issues and the stock and five per cent. bonds have recovered a fair part Of recent losses. When 1t appeared that the measure would be adopted a few weeks ago a considerable short interest was built up in the stock and now that the bill appears doomed to fail in Congress, the shorts are trying to cover without having to reach too high for the stock.