The Bridgeport evening farmer., 1914-03-28
IN FINANCIAL CIRCLES

New York, March 2Svice-Presi-
 dent McKenna, of the St. Paul system, who is making an examination of the Rock Island property for. the bond
 holders protective committee will
 probably be able to render his report by April 20. It would not occasion
 surprise among railroad men if MT.
 McKenna's places Rock Islands needs
 at figure higher than the $49.000.0O0
 estimate of Chairman Schuamacher.
 MT. McKenna,s connection with the
 Pennsy1vania and St. Paul systems has
 intoxicated in him ideas that liberal
 expenditures for upkeep are impera-
 tive, and he is therefore likely to be
 influenced by the standard to which
 he has been accustomed on the above
 mentioned roads.
 lating- Recording Co. have decided to
 further anticipate the sinking fund re-
 quirements by depositing q second
 $50.o00. On March IS, s50,O00 was
 expended in this way. The money is
 to be used in the purchase of bonds
 under sealed proposal to be opened April If. Under the term of the in denture this does not preclude further
 purchases whenever the directors find
 it advantageous.
 The protective committee represent ing Chicago & Eastern Illinois refund-
 ing and improvement mortgage per
 cent. bonds is asking for deposit of
 the bonds in order that the interests
 of the holders may be protected in the
 existing receivership proceedings of
 the road.
 A comparison of New EIaven's earn ings for the seven months ended Janu- ary ST. 1914 with those of PhiIadel- phia & Reading, PennsyIvania, Lacka- wanna. Jersey Central, New York Central, Erie, Baltimore & Ohio, and Boston & Maine shows that New Ha- ven ranks fifth in total revenue per mile of road operated, fifth in operat9 ing income per mile of road operated and fourth in expenditures on main
 tenance of way and structures per mile of track operated. New Haven was also fourth in operating ratio, ranking after Jersey Central, Lacka- wanna and Reading with their down grade haul of anthracite.
 In comparison with the same period of last year. the Northern Pacific Railroad made a rather poor showing for the first eight months of it's fiscal year. There was balance of $1,915.11O after dividends, a decrease of about $2,500,000. The loss is mainly attrf- buted to the shrinkage in grain and
 coal shipments which in the preceding year were unusually heavy. The com parison with last year, however, is not wholly a fair one, the volume of traffic carried during that period was record breaking and was practi- caI1y carried over into the first three months of the current year.
 Pennsylvania. Railroad in following out it's policy of retrenchment and economy will cancel a large number of passenger trains on the lines east of Pittsburgh totaling about 64. The greater number will be taken off April 1. The road will also lay off 10000 Lii r7i 7iSSI- ed or laid off since the first of the
 year. The working force, which is normally 142,O0 will thus be brought down to about 117,Ooo. Railroad re- trenehments is by no means confined to Pennsylvania More or less. the same thing has been in progress on the New York Central, Baltimore & Ohio. Erie, and other eastern roads Practically all railroads east of the Mississippi River and some of those west have radically reduced shop hours, or both. The movement has now spread to the maintenance of way forces and in a limited way to train men and other employees directly con