The Bridgeport evening farmer., 1914-10-10
NEW YORK EXPERT REVIEWS SITUATION IN FINANCIAL WORLD
Baltimore and Ohio Ask Ap- provaI of Stockholders For Issuance Of Mortgage Under Which Will Be Issued Bonds of $500, ,O0O.
tThe lBaron financial News service.)

(rhe Baron Financial News Service)
 New York, Oct. 10.--Directors of the Baltimore & Ohio railroad have issued circular to stockholders ask ing their approval at 9 special meet ing November 15 of a plan to au- thorize a new mortgage covering the entire system and subsidiary lines, un- der which bonds will be issued, prob ably not to exceed $600,000. This includes bonds reserved for refund ing of existing issues. It is proposed to make the bonds under the new mortgage issuafb1e in series, each series to bear such rate of interest as the directors may deem advisable at the time Of issue. The total amount of the bonds issuable will be Tinted to $6O0,0o0,0O0 unless the stockholders shall expressly authorize issues in excess of that amount, but in no case is the amount outstanding under the new mortgage, together with the outstanding prior issues, to exceed three times the capital stock of the company.
 The fortnigf1t1y bulletin of the American Railway Association shows that on October 1 there was a net surplus of idle freight cars on the lines of the United. States and Canada Of 131,0 as compared with 136,o4s oh September Is. a decrease. of 5,o22. The gross surplus was 133, ,382, against 18s,108. while the gross shortage 1n- creased from 2,O59 to 2.355. During the two weeks the net surplus of box cars changed from 1885 to 55,131, and the coal car surplus decreased from 39, ,367 to 37,224. A small in crease in the flat car surplus was re- ported, the total of 8,733 on October comparing with 8.387 on September Is.
 Deposits of stock with the stock holders protective committee of the United States Light & Heating Co. are being received in large blocks. It is learned that the committee now has on deposit more than 10000 shares of preferred and about 80, 900 shares of the common.
 mem bers, the underwriting syndicate formed in April, covering $40. .00, 900 New York Central refunding and im- provement 4 1-2 per cent bonds, due 2013s which expires October II, has been extended subject to termination on ten days notice by the syndicate managers, J. F. Morgan & Co. From now on members Of the syndicate will have their al1otrnents reduced by the full amount of the bonds that they sell, instead of having their selling pooled for the benefit of all. This ai- lows members the full fruits of their efforts in selling the bonds. It is un- derstood that four-f1fths of the first block of the new Central bonds has been disposed of by the syndicate, leaving Approximately $8,O00,0O0 yet to be sold.
 This countryss grain crops are worth this year approximately $550.- 900. .0o0 more than they were last year at the October 1 valuation, Five fl AA nn valued at $3.55e.514,oo0. The bu- reau of crop estimates at Washing ton, in placing the winter wheat crop at 675. 900, 900 bushels. with a value C of 94.4 cents a bushel on the above date, makes out g total value of $637,- 200, ,oo0. Last year wheat was worth only 81.2s cents on that date and the crop of winter wheat was 523, 900 0Oo bushels, or 52.ooO,000 less. That re- suited in a difference of $212,524, in favor of this seasons winter wheat crop.