The Bridgeport evening farmer., 1914-01-07
IN FINANCIAL CIRCLES

Y
 New York. Jan. 7-Recommendatio by the Union Pacific board of directors that the Baltimore & ohio stock in the formers treasury be distributed 60 stockholders, together with a ss csah disbursement, was by no means un- expected. In fact Wall Street has been looking fofward to such action practically from the time the Harrl- man dissolution decree was entered The plan contemplates the distrf 5ution to the holder of each share of Union Pacific common s12 par value 1n Bal tirnore 6. Ohio preferred, now yield ing at 4 per cent, or 48 cents. and $22.50 par value In Baltimore C. Ohio common, now yielding at 6 per cent, l or $1.35, and $3 in cash, say at per cent. per annurn, IS cents, or a total of $2.O1. It had been expected th1t according as the stockholders benefited the regular dividend rate would be reduced correspondingly. Hence ths plan to reduce the annual dividend from 1e per cent to per cent
 l The EtederaI Sugar Co. has passed the usual quarterly dividend of 4 1-4 per cent on the common stock. Divl- dends on this stock were fnaugurated about a year ago. Tn a Statement issued by the president the passiug | of the dividend is attributed to the lQS[HGdSeQ ulcISA4 O4 ULDllE DELIF@s=W the price of raw and refined sugar. Prevailing prices for refined sugar are at their lowest point in 20 years.
 Tn local financial circles the query is often heard as to what the Pennsyf- ,vania proposes to do with it's hoIdinra of Southern Pacific and New Haven
 Rumors that the road has geen de- sirous of adding to it's New Haven l ownership have not been taken serl- lously because it is known that the NT-,.- mn n Iof New Haven when the latter snfre1 were selling around their lowest lev eI a short time ago. The Southern Pacific stock would doubtless be diE- posed of if proper price could be lrea1ized, but it is not thought chat a legitimate investment in a stocE learning 8 per cent and paying c per cent. would be sold by the Penusy1- lvania at present market prices.
 Next Tuesday, being national bank annual meeting day, # is probable that many institutions, if mot aM of them, will announce their decision as to joining the Federal reserve sys- l tenn. Some have already sisuidsd their intention of Joining the system and the treasury department has i8- sued a notice to the effect that the decision of the board of directorE 1E a bank is all that is necessary as far as the treasury is concerned. Ma l tionaI banks, however, generally want to have their stockholders paas upon the question.
 On January there was due the Initial annual dividend of S per cent dividend upon the class ssAs' shares l of the General Pipe Line Corporatlgm. Il the payment of which is guaranceef by the General Petroleum CO. Owinr 1 to the pending read d5ustuent of the G. l nances of the General Petroleum CO. land the transfer of control to for eign interests the Petroleum Go. haG lrequested that the payment Of fhlg dividend be deferred for not exceed ing 90 days, to which the bamIzsrE l have acceded. Holders of the nr1t l nortgag bonds of the General Pipe
 Line Go. received their seml-anuual
 interest checks on January 1.
 Fortunately for Missouri Pacific e.
 has been able to meet a reduction lr gross revenues with lower cperatinE lcosts Tn November the road report ed a decrease of SS4. GOO in groas. but net increased S142, ,000. Of the gain
 in net Ss1, 900 was brought down Co
 surplus after deduction of fixed and
 other charges. For the five u10nth1
 to November 30 gross decreased s551. .-
 00O but net after operating eEueuaea
 and taxes increased Sf62, ,9O0- Fixed
 and other charges increased 98O9. coo,
 so that surplus for the period was
 $111, 900 under the results in 1912
 II Great lNerthern's November sro1a
 earnings of $7,534. .2S0 was a decreage
 of $3a7, ,446 from the same month Of 1912. Net after taxes for the monIh l amounted to $3, ,31O,42s, a decreass Of
 $561, ,660.