The Bridgeport evening farmer., 1914-11-20
NEW YORK EXPERT REVIEWS SITUATION IN FINANCIAL WORLD

CThe Barron Financial News Serv1ce)
 New York, NOV. 2O.-Wau street nat uraIly felt some disappointment at the announcement that opening Of the Stock Exchange for bond trading | would have to be postponed beyond next Monday, the day on which It was
 confidently believed this trading would be inaugurated. The explanation of the delay, however, had a reassuring effect, as it does not mean that any, thing of an unfavorab1e cl1aracter has developed to upset the plans of the Exchange authorities. One Sof the principal reasons for the decision to put off the opening is that many part ners of some Of the big bond houses are out Of town It was felt that these interests might have ground for complaint unless ample notice of ths opening date was given them. Since the plans to reopen for bond trading were taken np there is satd to have
 been some increase in selling orders. bTt it is asserted that this develop
 ment has not been sufl1cisntly serious to compel postponemetn of the open- l ing date.
 Some of the Stock Exchange houses are making money. and some of the customers rooms begin to look li1xe l the days of old. Those with most cs1s- toners, of course, have business in grain and cotton, and, as the manager | Of one Of these remarked, z GOO or 5000 bales Of cotton and haIf a million
 bushels Of wheat bring in comnis- sions that look like a lot in these
 times. But the profit is by no means restricted to speculation in comnodt- l ties Tn stocks also more has been done this week that in any previous week since the Exchange closed. With I twenty-five or thirty stoclxs selling at
 or above July 30 prices brokers nnd ] that they cannot execute orders read- I fly Not only may orders be filled I through the Clearing House. but to l all intents and purposes they may De executed directly by telephone 6e- I tween the houses.
 t Since the first Of the month there
 has been a decided revival in the tele- I phone trafflc Of the United States. I Back in October gross receipts of the Bell system for the first time in it's I entire history were showing decline as compared with the previous year.
 ron ana long distance earnings were then 92 per cent of normal and ex-
 change business, taking the country as unit was about s per cent. of normal. Today traffic of all classes, including both toll and exchange ser vices, is 100 per cent. Of what 1t was a year ago at this time. It is deeid- I edIy signidcant that this betterment I has followed on the heels of the No- II IVember election cross earnings <A1 2
 not yet showing any gain, but if the
 present rate Of employment holds fl
 will be a matter of weeks only before 8 a comparative increase of measurable proportions Is recorded.
 H 41rfe Railroad for the four months I ended October 31 last earned $4s7 ,00f
 or 218 per cent. less gross revenue than in the same four months of ISIS I but was $525. GOO or 10s3, per cent. ahead on net revenues after deduction scs
 operating expenses and taxes In Ocs
 tober gross revenues decreased $250.00t I Or 4g per cent, but net revenues in- d creased $232, GOO or 20.4 per cent Total
 operating expenses and taxes for ths I month decreased S4RSo0o or 11.2 per
 cent Expenditures for maintenance l of way and structures decreAsed 2 Il per cent. naintenance of equipment
 increased I per cent, aftlc expensei
 decreased 19.9 per cent. and trans; portation expenses increased IT pe1 t cent.
 Local dealers in foreign exchange I refuse to purchase bills drawn on thl
 London agencies Of Italian banks ow ing to their Inability to discount thu l bills in the London market Bz1tisf
 banks have Tor some time declined t
 buy these credits, because 1t is claim led the Italian Institutions, one ..
 which is controlled by German Inter 9 egts. have been facilitating shipment.
 into Germany via Italian ports.