The Bridgeport evening farmer., 1914-03-23
IN FINANCIAL CIRCLES

New York, March e3-The bank statement on Saturday was a favor able one as a whole. with an increase of $6,0Oe.o0o' in cash holdings the fea- ture, which was due to additional re- ceipts from the interior toward the close of the week. Loans increased a. little over s5.0o0. .0o0 in the actual which was the only unfavorable fea- ture of the statement. This is in con- $3.0o0 in the average condition and the decrease of a week ago. Net de- posits increase si8,0O0,oo0 while there was an increase Of 2,33o, 900 in the. actual surplus reserve.
 Fifty representative rai1rpads oper- ating in all parts of the country made a very poor showing in both gross and net earnings for January. Gross earnings decreased 7.58 per cent, while net fell off 25.81 per cent. This compares with a decrease of 4.92 per cent. in gross and 1888 per cent in net for December Lessened trade activity is generally taken as the req son for the shrinkage in January. De- creases in operating and zna1ntenance of way expenditures are explained by the efforts of railroad rnanageme ents to keep these items down. some of the systems cutting maintenance drasti- caI1y. Maintenance of way and struc-l
 
 tenance of equipment 3.4e per cent. and transportation expenses B. -08 per
 cent.
 Cross earnings of the Consolidated Goal Co. for 1913 were $15.442,2< an
 increase of $823, 1929 over the precad- ing year. and the highest mark at-
 tained in the history Of the company. An increase of $850, ,920 in expenses, taxes and insurance. however. used up
 most of the increase in gross. and
 naturally the income was not much
 better than a year ago. Net earnings
 amounted to s3. 3.826.7o3. which, after
 deducting $1, ,336, ,974 for fixed charges and sinking fund reserves. left $2.649.-
 72O or 9-S3 per cent on the &25s000,-|
 GOO common stock as compared with
 1901 per cent. in 1912. After diEi-
 dends of $1.500.o0 there was added
 to profit and loss surplus $949,7 ,729.
 which brought that item up to $8.-
 774,262.
 The U. s. District Court at St. Louis
 has approved .. plan By which the re-
 cefvers of the St. Louis & San Fran
 cisco can cancel an indebtedness of
 s4o00,00O against the road and relieve it of claims aggregatfng $1, ,S88. .000. The agreement provides for the sur rendering by the Frisco of two nom connecting roads. the New York liberia & Northern and the New Iberia, St.aMary & Eastern. to the SynO1C1IS LA1St pAolA1OACd IiAOAlAs AAAC receivers recover Frisco notes asgre- gating fs3,e64,0oO held by A. T.. Per kins syndicate manager of the St.Lsouis Union Trust Co. relieve the Frisco Of liability to take up bonds aggregating S766,000 held by the same trust com pany, and of additional claims against the road tota1ling $1 1,383, 900. The road also recovers $500.00O worth of land in Dallas. Texas, which was pledged to the trust company to se- cure a mortgage. The receivers sur. render all claims tos reimbursement for construction of two branches of the St Louis, Brownsville & Mexico. efT.sL Watson & Co.1
 But the most vital single question nending is that of the rate advance asked for by the railroads. The Inter state Commerce Commission holds the power to work great evil or great good to sentiment accordingly as it de- cides to grant or withhold this meas ure of justice. Popular sentiment is ] growing more favorable to the car riers and the pressure to compel the giving of some compensation for i'm creased labor costs, taxes and other 1 burdens will, we believe, prevail in the end The President has cast his sword in the scales on the side of the roadsLthat seems certain from the tenor of all Washington advices. Our l present trial is one of patience. But | in time patience will have it's reward. l One who takes a constructive position 1 is not worthy to hold it unless he can command that quality. united with 1 fortitude and faith.