The Bridgeport evening farmer., 1914-02-02
IN FINANCIAL CIRCLES

New York, Feb 2--While the bank statement on Saturday revealed fur ther increase in the loan item Of S23,- 100000 there was a general improve banks. Continued purchases of conn 1nercia1 paper and selling of bonds are taken as reasons for the increase in the loan item, though the New York State bonds were probably all l cleared off last week. Loans now stand at $2,009, 216 which is an increase of SLAB. .090 since January 1. There was an increase in Cash of $9, S90, 900 to $4S1. 650, GOO, which makes the total increase since the f1rst Of the year ss8, 357, GOO Surplus reserve increased $1, 787. .150 to $39.85z-90o, while met de- pcSits increased $s1. 600 to $1s932,- 562, GOO.
 l Readings six months to December s1 showed balance available for div giGende of s4s51 .466 The half year provided additions and betterments in excess Of $l, GOO. eco. half the annual dividends. amounting to $4,200, ,00e, a4- ter which a balance of $500,000 was left.
 A special meeting of stockholders of the Standard Screw Go. will be held in the middle of February for the pazr- pose of increasing the connpany's cap ital. Stockholders wifi be asked to authorize the issuance cf F1. 600 600 pre- ferred and a like amount Of common stock The purpose or the capital in- crease is to procure $1, GOO to take up outstanding loans and to secure ad- ditional working capital
 The southern California Edison Co. has sold to a, banking syndicate q, 2 800 GOO general Tnortgagm per cent. bonds due 1939 The bonds are part Of an authorised issue of $30,O00,o00 Of which $12.225,0eO have soeen issued, i'm &7--@ xan will be offered at 95 and interest, which will yield 5.s5 per cent. on the investment. In 1913 the company earned three times the annual interest charges.
 Gross earnings of the Erie Raiiroad $4, ,es1 Gor the same month a year ago. Net after taxes was $e40. .9s1 against $1,O6z 240 Gross for the six months aggregated saz. 544 .45S against $S2s ,696 in 1912, while net after taxes was S6,9S5.ss3 against ys98S, 551.
 New York 8usquehanna & West ezus gross for December was $S37, roe against $S22,800 in the closing month of 1912, while net after taxes showed ss7. PTS against s95s2ss Six months gross amounted to $1. .9s4, 251 against $1.s5S,84l a. year ago, end net after months against $4ss, ,344 in the same period of 1912.
 The plan of the NasioraI Railways Of Mexico to offer three year per cent. notes in lieu of the interest pay
 nent on the pfror len per cent. Mexico, the National Railroad Of Mex leo and the Mexican Central priority 4s. is favorably reGarded by about 75 per cent. of the bondhoIders.
 CT. L. Watson 6 Co.)
 But it is moi, to immediate trade re- vivaI that we should look for the sue- tatning power In tkae markets I& win d1ence of last years monetary sfrIn- gency in eommercial circles. But as securities ssdiac0unt tedss by declines in prices industrial depression long In advance Of it's actual appearance, so the markets will probably discount industrial recovery months ahead Eco- homie law demands that an eouilib- rum be. established between returns on fixed inv estInents and the cost Of floating capital The glut Of money now in sight means that money "a ates will be so low that the investment re- turn In stocks and bonds will become Increasingly attractive to investors. We are approaching the period of crop uncertainties, the Mexican sItua- ton may present. temporary dinlcui- ties, and political agitations may stia1 excite occasional disquiet. These cir cOuPtSQ WttEa I1lS %E13S tIlss has been so rapid in the last six weeks, may lead at tsd1es te more or less sharp reaction But with easy money ahead and with the funda9nen- taIs of business as sound as they are. the absorption of Investments will furnish foundations for speculative re- vival, and we believe that purchaaes Of sound securities should be made on all InodArate setbacIza