The Bridgeport evening farmer., 1914-03-31
IN FINANCIAL CIRCLES

New York. March a-lNational Railways of Mexico has reauested the federal government of Mexico, as guarantor Of it's general mortgage bonds. to provide funds for payment of the interest thereon, as well as the interest on National Railroad consol- idated mortgage bonds. This requeet is made because the company Is un- able to pay in cash this April inter est The situation will be met by ac- ceptance of the governments offer or s1,776, ,179 6 per cent. 10 year treasury bonds which the company proposes to pledge with local trust company as trustee to secure an issue of notes amounting to $1, sos, ,792, the amount ef able January 1, 1917, and bear interest at the rate of 6 per cent per annum- The offer to meet the interest due April 1 with these notes in lieu or cash, may, at the election of the com pany, become operative if by May not less than 75 per cent. of the se- c11rfty holders shall deposit their cou- pons or signify their intent to do so.z
 Accompanying the report of the p. Lighting & Heating Go. investiga- ton committee, headed joy John A. Sleicher. is a notice of & special meet ing to be held at Portland, Maine on April for the purpose of eonsidering
  izing the making and issue of $l o0o,- COG first mortgage per cent bonds, running for Is years. This bond issue is to be placed before the stockhold- CTS at the suggestion of the iHWestl- gating committee, whose report poinfs out that the conpany's chief ailment is lack Of working capital. The bond issue, it is the committees belief will relieve the company of the necessity of doing shart term financing, and will provide sufficient funds for fu- ture needs
 SrneIting & Refining co. are watching developments at Torreon, Mexico, closely. Success Of the oIutionfsts there would mean the company would be able to blow in it's six furnaces at Velardena, which is just a few miles south of .Torreon Presumption of op- erations at this point, together with the ten furnaces operating at Aguas Calientes and four at Chihuah ua, would bring the smelling company s operations in Mexico up to about 68 per cent. of the Mexican capacity
 Receivers Of the St. Louis & San Francisco have sold $560.O additional receivers cert1fcates making the to- tai outstanding $3.e00, oo0. The pro- ceeds have provided funds with which to pay all interest and maturing car trusts to May
 Southern EtadfWay 6 sE EGBfuaTy gIUs5s5 earnings amounted to s5,217. .OS1. a de- crease of $69. 544 Net totalled $s98. zss, a decrease of $272. .912-
 Prices for steel products generally are at the lowest levels of the year, and the outlook for new business con- tin1les uncertain. Last weeks orders for railroad equipment were small. consisting of 16.O0o tons of rails, POO cars, and about 70 locomotives. For the month as a whole, March will !! probably show total steel rail orders of about 75, ,6o0 tons: 2. z50 cars, and 240 locomotives; this record would prove the poorest for the year thus far. Chicago, Milwaukee 6 St. Pau1s February gross earnings were s6, IA, 422 compared with s6,564 1892 in the 1 correspondfng month last year Net after taxes was ss74. .536, against ss57.- 4SS year. ago.
 Some of the things that New Eng land stockholders of the. American Sugar Refining had been vainly seek 1 ing to learn for years are now being l brought to light under the cross -ex- l animation Of government inqnsitors 1 in the Sherman antitrust proceed ings Interesting in this connection is the admission that the company car ries between s1o, ,0oo. 900 and s12.OoO, COG in cash with banks and trust com panies-