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

BARRON FINANCIAL
 NEWS SERVICE
 New York, March 3-In quarters usually well informed on United States Express company affairs, the conc1u- sion has been reached that the re- cent strength and activity of this com pany's stock are significant of a de- termination on the part of the larg- CT stockholders to put the company into liquidation. It is understood that these large stockholders, most prominent among them the Hartman estate, have taken the ground that since by the action of the govern ment the railrQads are compelled to carry parcels Yhrougt the mails at a loss and at price with which the express companies cannot compete, the company should distribute its assets among stockholders rather than con- tinue business at a loss. It is also understood that arrangements for liquidation have progressed so far that practically all of the matters neces- sary to wind up the affairs of the company have been thoroughly dis cussed. The company is one of the few surviving instances of an unin- corporated, voluntary, joint stock as- sociation and the entire control of it's affairs is in the hands of it's board of directors. There has not been stockholders meeting since 1862 and it is understood that the liquidation Scan be accomplished by the board of directors The last balance sheet of the company that has been made pub lie, as of June 30 1913,t shows that there is due the company $2,133, 900 loans of the United States Express Realty Co. Total assets were placed at $14, ,331, ,547-
 Total January earnings of all lines in the New York Central system were $20, ,94S, ,S78, a decrease of $3,033, 373. Net after taxes was $1, ,57S, ,526, a decrease of s, 654, ,166.
 Gross earnings of the Chicago, St. Paul, Minneapolis && Omaha for Jan ua,rv showed a good increase above those for the same period a year ago. This item was brought up to $1,472,- e66 from s1, BPS, 4S9 last year. Net earn ings were $437, ,128 against $293,473, while surplus after charges for the month aggregated s231, ,794 against s133, 49S in January, 1913.
 It is douf-ted by many steel inter ests that United States Steel Corpora tion's unified tonnage statement for February will show as large an in crease as reported in January. It was estimated about ten days ago that the corporation would show an in crease of about 100000 tons-albout S5,- GOO tons better than January but pres ent estimates are substantially lower The corporation Is now quoting f.3o
  steel bars for second quarter. This is S1 per ton above most of the other companies. The corporation has been adhering to $125 per 100 lbs of plates bars and structuraIs for prompt ship ment. Independent companies con- tinue to quote $1 per ton lower.
 In connection. with the suit brought against the American Ice company to recover damages from the directors on the grounds that dividends declaa.- ed some years ago were declared out of capital and not out of net profits, it is stated by a director that the suit is of five years standing. He added that the company had never paid a dividend except out of earnings.
 As predicted in these columns two days ago the Guggenheim Exploration Co. has declared a quarterly dividend of 1-2 per cent, thereby placing the stock on a IA per cent. annual basis, an increase of 2 per cent. per annurn over the former rate. Last June the quarterly dividend rate was raised from 1-2 per cent. to 3 per cent. and in December an extra dividend of 2 per cent. was declared. Earnings this year are estimated at something over IS per cent. on the capital stock.