The Bridgeport evening farmer., 1914-01-30
IN FINANCIAL CIRCLES

New York. Jan. 30--So confident is
 the management of the Reading CO
 that the suits brought against it by
 the Department of Justice will be de-
 cided in it's favor by yxe courts that
 1t has not even considered action look
 ing to a voluntary segregation Of the
 property. Rumors to the effect that
 the company was preparing to take
 various steps to obviate trial of the
 suits already brought have persisted
 for some time, but most Of them orf-
 ginated in speculative sources where
 the Reading stock receives large share of attention sa Application has been made to
 Judge Adams in the United States Circuit Court at St. Louis for a final decree of foreclosure of the Wabash Railroad first and refunding mort gage. The St. Louis court represents the court of primary jJrisdiction, and although nine ancillary applications will have to be made, these are mere ly matter of form by reason of the fact that where railroad runs through a number of states 1t has jurisdiction to enter the same decree as that entered by the court of pri- mary Jurisdiction.
 Southern Pacific's statement of De- cember earnings placed gross at 1,- l25s,O00. a decrease of $Ss7,000. while
 net totalled $2,s72. 1000, a decrease of $579, 900.
 The 3 per cent dividend declared by Pressed Steel Car directors on the common stock, which is to be paid in quarterly. insta1lrnents. Is the first disbursement for common sharehold- CTS since 1904. Directors explained their action in the following state ment: While net earnings for 1913 would seem to indicate that larger dividend might be sdeclared on the ft, 111 faIf servative policy is the correct one Io pursue"
 Salvation of Boston & Maine ap- pears to lie in an extension of credit over, the next few years. Tn this con nection the management of the road is
 seeking to impress upon holders Of the road is seeking to impress upon holders of the SIG. .00O,0 900 per cent notes maturing in February the nec- essity of their agreeing to a. four months renewal. Indications are good that the road will De granted authority to increase freight and pas senger rates to an: extent that will
 mean $2,000.0O0 additional annual revenue. Under the Mcdonald ad- ministration operating income in De- ce1nber showed gain over the cor responding month of 1913 and 1912. Reduction in the Bank of England
 discount rate from to per cent was foreshadowed in the strength shown in the banks return last week. This is the third reduction in January, starting from per cent rate in force at the end of 1913.
 Greene Cananea Copper Go. has de- clared quarterly dividend of per cent. orz the same as was declared three months ago.
 The annual report of the United Ci- gar Manufacturers Co.,, which in all 1 probability will not be published ur1-
 til after the annual meeting in Febru- i ary, will show about the same earn l ings as in 1912. when GOA per cent was earned on the common stock
 Stockholders Of the National Re-
 fining Co. have approved the recon.
 mendations Of directors to increase the capital stock from $2.Ooo, 600 to $5,o00, 900 common and from $A,00o,- 600 to S .0o0. GOO preferred. The new preferred stock will remain in the treasury subject to future issue. The disposition of the common stock will
 be decided at meeting of directors l to be held shortly.