The Bridgeport evening farmer., 1914-03-12
IN FINANCIAL CIRCLES

New York, Marcn Iz--r pr LhS h7ooA' year 1913, the Underwood Typewriter Go. showed net earnings of $1,803.O19 a decrease of $1e0,427 from the earn ings of 1912 as compared with an 1n- crease of $527. .927 in that year over r1911 The years operations were con sidered satisfactory in view or the fact that a record number of ma chimes were sold. and the output or the factory reached the normal ca- pacfty without necessita ting extra time on the part of the working forces. During the year the number of branch and sl1Ib-branch offices was increased by 47, Bringing the total up to 173-
 Directors of the American Tobacco Go have voted to distribute on April 20 the a60, ,729 shares of ssB'' preferred ordinary shares of the Imperial To- bacco Go, on the basis of 360, 0,729-- 4e1 SPA to each holder of one share of American Tobacco common. For the year ended December 31 American To bacco earned a surplus available for common dividends of $11,318,076, a de- crease of s924,5s6, equal to 2S.12 per cent. on $40, 242, 400 common stock against 30.42 per cent in the preced- ing year
 For the six months ended December 31, 1913, New York Railways reports net income available for income bonds of $718, ,438.
 The Northern Ohio Traction & Light co. has applied to the Ohio Public Utilities Comm iaeion tor authority to issue $481, GOO of 6 per cent. preferred stock to fbe sold at not less chan 95, 1 the treasury for capital expenditures made in 1913.
 Greene Cananea Copper CO in Feb l ruary produced 2,282, GOO pounds of cop per, 98, ,001. ounces of silver, and sos ounces. of gold.
 ! The Merchants National Bank has received $15O,O00 gold from Canada. Proxies sent out by the North Amer ican Co. for the coming annual meet ing call for a vote to change the by laws Of the company so as to create the office of chairman Of the board Campbell now president of the conn pany Vice President Mortimer is scheduled to succeed MT. Campbell as president.
 Receivers for the New Orleans, Tex as & Mexico Railroad report that earnings for the half year ended De- cember 31 showed a balance of $90 GOO for interest after rentals, etc This is a material reduction from last year,
 and was caused largely by the heavy floods in the company's territory in 1 the fall.
 Declarations Of the New York Cen i traf dividend at the regular per
  l lower rate for at least three months. ] The conviction that the dividend will be reduced is still strongly held by a great many in the financial district, but it is pointed out that by the time the board holds it's next dividend
 meeting the decision of the Interstate Commerce Commission in the five per cent. freight rate matter will prob ] ably have been handed down. In the i event that this decision is in favor of I the roads it is reasonable to believe 1 that the question of altering the pres
 ent dividend rate will not be consid- cred.
 l The American Express Co. has de-
 clared a quarterly dividend of 1 1-2 per cent, payable out of other inccIne l and from investments held. Declaration of a quarterly dividend of 1 per cent. on Western Union stock,
 which increases the annual rate from l to per cent, was m line with ex- pectationEy though in some quarters it was confidently believed that directors would put the stock on 5 per cent l basis. The resignation Of J. P Nor gan occasioned surprise in view of his recently announced intention o1 severing his official reIatio with cor porations. Henry Walters also re- signed as a director while Edwin G. 1 Merrill, president of the Union Trust 1 Go, was elected to the board to suc- l ceed William H. Moore.