The Bridgeport evening farmer., 1914-01-19
IN FINANCIAL CIRCLES

(Barron Financial News Services1
 New York, Jan. 19--Minneapolis &
 St. Paul R. R. Go has $3,0O0,0O 6 per cent. notes falling due on Feb ruary 1, which fact has been a sub- Eject of much concern among the hold
 CTS Of this issue Assurances shave been given however, by President Erb that the notes will be cared for at
 maturity. It is understood that the
 plan likely to be adopted will call for
 the payment in cash of $500, ,0o0 Of the notes leaving $2,50O,000 to be ex- tended. A similar plan was adopted
 a year ago by the company when S1s-s
 900, GOO notesg were paid off and the.
 present s3 3,000, ,000 issued to extend the
 rernainder.
 The government suit against the
 American Sugar Refining Go. comes up for trial here this week at which
 the defendants side of the case is to
 be presented. A fnad decision is not expected to be rendered before late in 1916. This is one of the corporations which endeavored to efect the settle
 ment of government litigation but the
 terms demanded by the Department
 of Justice were such, according to the
 company, that they could not be ac-. cepted.
 This service is in position to state that the alleged Moving Picture Trust will carry it's defense of the  ton to a finish. This statement may also apply to the attitude of the Amer ican Can Co.
 l One of the chief reasons bringing about the attacks on the New Haven Railroad system has been it's large in vestments in New England trolley lines In this regard the $12.500,000 investment of the Delaware & Iud-
 son Co. in the United Traction Co. of Albany has apparently been forgot ten. Back in 1905 Delaware & Hud- son spent s7,500,e to acquire con trol of the United Traction and made a. subsequent expenditure of 5,0o0,-l 900 for the Hudson Valley Traction, control of which rests with the United Traction Go. United Traction has paid 4 per cent for the past six years but has had some difficulty in meeting i this requirement.. United Traction paid out S2,50O, ,OOo in dividends for 1 the five years ended June 30, 1912 I which were not earned by $39l, 900. With this condition therefore, the l company has not been able to make 1 charges for general depreciation and
 new construction other than the l amount included in operating ex- penses for these purposes. The com panfess according to the latest avail able balance sheet, have com bined floating debt of $1,50o,00o.
 Baltimore & Ohio's November state l | a drop of more than $1,000,0O0 in total operating revenues and a slight increase in operating expenses and taxes The com bination resulted in an l operating income for the month of ! S1236,286 as compared with S2, 434,- | 025 in the same month of 1912. In brief it was the smallest operating in come in five years for that month. i The first five months of the current fiscal year beginning July however. show a slight improvement in total I operating revenue, the amount being s44,744.03s against s44, ,146, 24o in the corresponding period of 1912. There was an increase in operating expenses l however, of nearly $2,000,000 in the l five months period while taxes gained 1 over $250, 1000, so that the operating income up to November 30 was $10,- I 777599 as compared with $12,1S9,015 | a year ago.
 l It is expected that at least two l large syndicates, one headed by Kuhn, l Loeb & Go. will be represented in bidding for the issue of $51, 1000, 900 l New York State bonds which are to be offered Monday. It is also report ed that J. P. Morgan will not be rep 1 resented to any great degree.
 It is understood that New York 1 Central is negotiating with the Lehigh Valley and the Delaware, Iackawanna 1 & western, with an ultimate view of
 bettering the financial condition of the
 former. While matters in this direc- l ton are only tentative at present, the l passing of Central's holding of Nick 4 el Plate into the hands of Lehigh Valley and it's Michigan Central hold 1 ings to D. l.. & w. would not be sur- prfsing.
 CT. L. Watson & Co.9
 The advance which has occurred ir
 the stock market has been the pro- | duct of quiet investment buying. |