The Bridgeport evening farmer., 1914-12-09
NEW YORK EXPERT
 REVIEWS SITUATION IN FINANCIAL WORLD
(Barron Financial News service.)

place the Rock Island in recetVersh1p D have failed an application for a re-
 ceiver having been denied by the Chi- cago Supreme Court. In handing down the decision the Court pointed out that any dissatisfied bondholders
 are at liberty to intervene In the suit now before the federal court on fore closure proceedings and are in the same position with similar power to 1 those of a recetvership.
 For the year ended Oct 31, 1913, the net earnings of the Standard Gas ] 6 Electric Company after payment of all charges were equva1ent 70 o.6 per cent on it's preferred stock, on which since June 1918, the regular per cent. quarterly dividends have been paid in scrip bearing 6 per cent inter est. For the quarter ended Novem-
 Der 30, 1914 the board of directors cut the dividend in two, declaring but per cent. payable in 6 per cent scrip, maturing September S1. 1928.
 According to reports which have found credence in some prominent cir Ecles, one cause of delay in reOpening the stock exchange was found in an unsatisfactory condition of certain counts, and 1t Is said that liquidation of these accounts has recently been
 proceeding through the clearing house. The dif1cu1ty however, was not 8 serious one and as there Is "a good. market through tho clearing house, the trouble should soon be re- moved, if it has not been quite cleared away already.
 Showing the continued ili-emects of the conditions arising out of the Eu- ropean war the Calumet & Hecla Mining Company has for the second consecutive time passed it's quarterly dividend This is the drst time since the mine went on dividend paying basis forty-three years ago that such action has been necessitated. The | s7I- LT. %Errxrr statement to the effect that the mine has been operating on three-quarters time and that cut of 30 per cent fll the wages of the men, as well as a Is per cent reduction in the salaries Of employees and officials has been made It was also stated that while the cop per trade has shown some improve
 mentJ recently the conditions sur rounding the market continues so u1l-s settled that putting men back on full time, or declaring a5 dividend would not be advisable at this. time.
 Large war orders continue to come in, and while these embrace a con si siderable number Of our industries the dry goods trade seems to have been the chief Beneficiary. Follow and like number of sovercoats. re- Qlliring about 2s00O, ,0OO yards of cloth, large purchases of underwear of all sorts have been made. An order for 26. .000 dozen sets of underweasr has just been announced. and it is es- timated that about 5000, 900 pairs of socks have been disposed of to Euro speanf belngerents so far.
 (Rarron Financial News service.)
 New York, Dec. 9wau Street, be- in without wire connection with all points Of the compass, trading in it's various markets during the past few
 
 .erns bgyfa1as ord ere TesponaiBle at the opening Of Ina Bond departr1en ent for a large part of it's activities while the south was Interested in the local cotton market. Even Boston was cut off alraest ntireIy from telezTaphic comnunic icatfon The resumption of trading in stocks on the exchange set for next Saturday was therefore gen orally regarded as good judgment for had been decided to resume trading atsan earlier data the ina bility. to re- ce1ve sout-of-town telegram aphic orders would have had marked effect
 United. States Steel Union Pacific, New York Central, Southern Pacific and Canadian Pacific constitute the ac- tive stocks which may not be traded sumption of trading. The general be- lief was, in the absence of an official explanation from the governing com m1ttee, thatssoWing to the fact of large blocks of these shares being held in Europe. 1t was deemed advisable to. forbid transactions so long as there exfsted likelihood of dumping for edgn holdings on the market.
 The Bethlehem Steel Corporation, in order to comply with President Will sons neutrality program, has yielded Up the orders received for construction Of about $50, 080, GOO worth of submar- ines- It was to cancel these con tracts that Charles M. Sehwab, presf- dent of the corporation made another hurried trip to Europe.
 The greatest securities holding cor poration In the world is a position which must be conceded to The Rocke- feller Foundation. As of December 1 The foundation was started by John D. Rockefeller who contributed all of It's assets, securities having market value at the time of $100, 900 900.
 Two small failures have followed the announcen nent that the stock exchange would open on Saturday for stock trad ing. Wall Street was prepared for erally recognized that the four months complete tieup of stock exchange oper- atons has been a severe strain on many Of the banking and brokerage houses of the Street. Tn fact, with few exceptions, clerical forces have been reduced in number or salarles lowered for the purpose of effecting curtai1ment in overhead charges
 The Consolidated Stock Exchange of New York will open at the same time as the New York Stock Exchange, on Saturday, and under identical con dit1oses, in accordance to an under standing between the governing com n1ttees of these two institutions. DARK RnApn pTANS