The Bridgeport evening farmer., 1914-02-28
IN FINANCIAL CIRCLES

HJ5 lBaTT0R E1uanC1alS H6WE SeTY1Ce.1
 New York, Feb. 28--A protective Committee to represent stockholders in the Rock Island Co. has been form ed. It is headed by William A. Reed, and includes Arthur Curtiss James, William Church Osborn, Ogden Mills, Francis L. Hine, Andrew J. Miller, and Benjamin Strong. IT. Another re- cent step in the readjustment Of the securities of the Rock Island holding companies was the formation of a pro tective committee for the holders of the collateral trust 4 per cent. bonds of the Chicago Rock Island 6 Pacific R. R. Co. Interest on these bonds is due until May but the formation of the committee was based on the fact that the Chicago, Rock Island & Pacific Railway Co, the operating comp any, whose stock is security for the collateral 4e. will declare no fur ther dividends during the current year Thus the railroad company will have no funds with which to pay May interest on the bonds.
 President Schaff of the Missouri, Kansas & Texas, expressed optimistic views regarding the outlook for his road but he fails to commit himself in regard to the possibility of a suspen-. sion of dividends on the preferred stock. He says while it is probable there may be some decrease in gross earnings during the spring months comnerciaI conditions in the territory traversed by the road are satisfactory and that the soil has never been in better condition for growing crops
 Adjustment income bonds of the re-. organized Wabash Rai1read. which will be exchanged for present first and refnnding per cent. bonds on the basis of no per cent. of new adjust ments for each $100 par value of bonds will bear cumulative interest at the rate of 5 per cent. Present Wa bash preferred stockholders upon pay ment of $20 share assessment will receive 95 per cent. of their par value in new stock of the reorganized com pany which will be only of one class. Present common stockholders on pay rnent of $20 assessment will receive 8 per cent. Of their par value in new stock. This will reduce the stock capdfaIization of the company from s92,40o,426 to $81,396.37s
 It is estimated that the American Telephone & Telegraph Go. has nae1- turing this year some $15,000,000 of subsidiary company six months paper. or this $1O, 00O, ,O00 was sold in Octo- Der last and natures in April. The remaining $5,o00.O0 does not mature until June Funds for payment of notes have already been arranged for through the sale of $1O,000, 900 long time bonds of the Central District Printing 6 Telegraph Go. The other $5, 100000 will be provided for through an equal amount of Southern Bell Telephone per cent. bonds
 Illinois CentraPs January gross earnings amounted to s5,485,622. against $5, ,380, ,607 in the same month of 1913 Net after taxes was $1.026s- 343, as compared with $s63,93e.
 Total dividend and interest disburse- ments for March are estimated by the ENv1ncia1 News Service at S116. 100000, as compared with $11S,- 0O0. .0OO a year ago. Interest payable in March on the bonds of. railroads, industrial and miscellaneous compa- nies. as well as those of cities, states and counties in the United States. and on the Government debt, totals $54,- 165827 The total of bonds of every class outstanding upon which this i'm terest is payable Is $421, 1,784,0O0.
 It is the belief in well informed quarters that directors of the Guggen-s helm Exploration Go. will increase the dividend rate from a 2 to 14 per cent. annual basis at their meeting next Monday. The company had $11 ,537,- 164 in cash and demand loans on December 31. and no liabilities beyond the SEQ. .793, 300 capitol stock outstand- ing.
 (Banker Henry C1ews.)
 Most of the depressing influences are of g. temporary nature, and have been largely discounted by the decline of the last three weeks. Washington is still a cause of hesitancy: but the Mexican situation remains the most serious factor in this market, and the. European financial situation also re- ouires watching. Should we be oblig- ed to intervene in Mexico, the effect 1upon the security markets could only be temporary and probably not very severe; although a long and costly struggle is possible. It is to be hoped, however, that the Mexican crisis will be solved without any resort to force; and earnest efforts are being made in that direction. Sane public opinion will approve the policy of non-inter-