The Bridgeport evening farmer., 1914-03-20
IN FINANCIAL CIRCLES
~Ynancial News Service, ;,


 New York, March e20-The largest individual stockholder of the Read ing Co. is F. A. B. Widener, who owns 100000 out of the 1, 100000 $50 com mon shares outstanding. At current market price MT. Widener's holdings are worth $8,25os0eo. Gesrge F. Bak- CT is the next largest individual hold CT, possessing 1T, 300 shares, worth $1,443,750= at the present market. MT. Baker is also the holder of 5000 shares of Jersey Central, valued at $2,50O, 900; 10. .600 shares of Lacka- wanna Coal, valued at least at $1 ,500,-5 000; and TT 1000 shares of Lackawanna market value Approximately $15, ,000,- OOO.; Tn these roads George F. Baker has present worth of more than $20.- 900, ,000.as The next largest individual Reading common shareho older is Oliver H. Payne with Is. 900 shares. An other large Reading common share holder is sJo1lnsB. Manning, with near ly 5000 shares Reading common stock, to a. much larger extent than either Lackawanna or Jersey Central, is in the name of various New York Stock Exchange houses
 Fluctuations in-sbond values in re- cent months suggests that Telephone nent securities. During the wide movements of last year, active bonds of this class, with the exception of convertible issues that moved along with the stocks, showed maximum price change of only 6 15 points. This frnness can be credited to the steady rate at which earnings of such com panies have generally increased. An analysis of combined Bell Telephone statements for the past four years, which include the operations of sev- eraI of the most important companies, shows that despite the fact interest charges have increased 3 5 per cent. l in the past three years, $3, 900, 900 more was paid last year in taxes, and | $11, 100000 more charged to deprecia- ton, the balance after interest in creased $2,6O0, ,00O, or nearly per tcent.
 ! No action has been taken by the | directors of the Chicago, Rock Island & Pacific Railway Go. on the dividend usually paid on March s1, and no i. dividend will be paid at this time. Passing of this dividend indicates de- fault in the interest due May 1 on the | Chicago, Rock Island & Pacific Rail- road collateral 4 per cent bonds of POOP, as there will not be sufficient funds to meet the payment.
 The United States Steel Corpora tiorl it is understood,s will shortly an i nounce an issue of bonds. This action is contemplated to reimburse the treasury for a. SuDStanIla1 part or Inc 1 outlay, and additional out1ays yet to 1 be made in connection with the con- struction of the Duluth, Minn., steel 1 works through an issue and sale of bonds secured on the property The total outlay at Duluth up to the close lsof 1913 amounted to $13,445,648- It l is expected that the bonds will bear 1 interest at the, rate of per cent. At the annual meeting of the East man Kodak Co.,, to be held April 2, a resolution will be offered, authorizing the board of directors to distribute among employees a wage dividend of | $500, 900. A distribution of this acount was authorized in 1912 and l 1912. It is understood net earnings of the company this year will be about $3,O0o,00 in excess of the $14,00O, ,00e earned last year.
 At a special meeting of directors of the Union Switch & Signal Go. Colonel H. G. Prout was elected president to fill the vacancy caused by the death of George Westinghouse. For several years Col. Prout has been vice presi- dent and general rnanager of the com pany.