The Bridgeport evening farmer., 1914-02-19
5. LoeWith & Co.
 116 Bank Street, Tel. 99
IN FINANCIAL CIRCLES

CBarron Financial News Service,)
 New York. Feb. 1s.-The recent au- thorization of additional common and preferred stock of the National Carr bon co. is taken to mean that the di- rectors are preparing for a stock div idend. In the fiscal year ended De- cember s1 the company earned a ball ance of about 21 per cent on it's $5- 500, GOO common stock The year before profits for the common were 17.2 per cent. Interests familiar with the property say that it could easily pay a 50 per cent. common stock dividend, and stockholders have not hesftated to express the opinion that this should be done. The company has also un- der consideration profit sharing plan with it's employees and for this pur- pose $500,00O in stock may be issued.
 Great NIcrthern's latest financing which involved the sale Of S19,0o0, ,O00 new stock is expected to leave the au- thorized capital of s250, ,O00. GOO una1- tered for a. long time to come The isddftIon9l stock wiM not prove bur- densome to the company, 1udging by the current rate of earnings. In it's last fiscal year the company had surplus of almost $10, coo, O00 after div idends of per cent. and a balance Of oyer S4. GOO, 900 after depreciation and charges. appropriations for additions
 
 sOO0,000 stock will not share in the profits Of the current year. as certifa- cates against fully paid receipts will not be issued until November, 1S14
 Standard lOil of California in it's an- nuaI report for the year ended De- ceTnber. 31 showed net earnings of SIS, : 366 140, almost three times larger than reported for 1912. Tn 1911 net earnings were $3,1A, ,626 After deducting for dividends Of $z 4e3, ,399, a surplus re- rnained amounting to $I4. .892, Al against 8 surplus in the preceding year of $5,- ! 982,807. fa4
 National Enaneiing and Stamping Go reports gross profits for 1913 amounting to $16zS,8s6. Net profits were $1 ,o51 646. Profit and loss sur plus was S47S,O84
 Consolidated Gas Co. announces that it will pay in cash s5,O0O,0Oo of the SIS. GOO GOO per cent collateral trust notes which mature February 25 1914, and that it will issue new short term notes for the balance. On December 31 last the company had $5,sD2,1e0 cash on hand, but this has been increased since that time. Trustees will not meet until February 26e but at their meeting held. late in January they voted to leave the financing Of the maturing notes wholly to the finance committed The continued resort to temporary financing is due to the der lay in receiving the sanction Of the Public Service Commission to the is- sue of $15, ,SO0,O0O stock by the New York Edison co. to be taken at par by the Gas Co. in payment Of ad- vances made to the former, and to the issue Of $9.500,0 600 stock and $5,- coo, ,000 bonds by the Astoria Light, Heat 8 Power Co. to cancel at par Ss75, 900 bonds how held by the Con- solidated Go. and to reimburse at par inc latter for advances.
 Reports from steel mill centres i'm dfcate more active operations than a week ago. Quotations on most prod ucts for future delivery are being well maintained at an average of about $1 per ton higher than the level Of Jam uary. For immediate delivery busi- ness however, manufacturers are conn peting sharply and price concessions are numerous. Consumers are receiv- ing prompt shipments due to the fact that the country's mills are operating so far below capacity that orders re- ceive immediate attention. Estimates as to the average production Of the important mills of the country differ widely. Some manufacturers claim that operations range from 80 to S5 per cent Of capacity, but others as sert that operations are on much lower scale.
 Daily meetings are being held by noteholders. stockholders and banking interests connected with the M Rurne~ iv co. out of which may develop plans for the rehabilitation of the company. A banker closely identified with the affairs Of the company says that there is, small Likelihood of receivership pro- eeedings at this time at least
 The Union Tank Line has declared serni-annua1 dividend of 1-2 per cent. the first to be declared since several years prior to the Standard Oil Of New Jersey dissolution The capital stock is SIP, Oo00O0