The Bridgeport evening farmer., 1914-09-15
NEW YORK EXPERT
 REVIEWS SITUATION IN FINANCIAL WORLD
Improvement Noted in Securi- ties Market During Past Week-ProVision For Meet ing New York City's Matur- ing Bonds Proves Boon to the Whole Country.

VNI1O1C N4OAAlOINye-
 (The Barron Financial News Service.)
 New York, Sept. 15.-Notabfe inn provement was discernfble in the in-~ vestment situation last week and a general clearing of the financial skies continues. Consummation of plans to meet $1oO, ,OO0, 900 of New York City's maturing securities, $80, GOO, GOO of which are held in England and France, was the most constructive development that has taken place since the war started. New York banks by agree ing to provide $8o, ,00o, GOO in gold or for-s eign exchange if needed, have not onIyf protected the credit of the first city off the country, but have rendered a great service to the entire nation Action of the investment bankers commit ee, which, acting with the Clearing House and Stock Exchange committees. found it possible to place it's stamp of approval on the selling of bonds by the investment houses when done in such a, manner IS not to disturb the collateral loan situation, opened. the first. door to resumption of full lbusi- ness in investment securities. It is also gratifying to learn that London, where most of our foreign held secur- ities are lodged, is not as anxious to lfQuidate as might be supposed. This is evident from the fact that 75 per cent. of the holders of the APO, 900 pound Lake Shore one-year notes elected to take new notes at 6 1-2 per cent. interest in exchange for their. maturing securities. Their willingness to accept extended notes when they could have obtained full payment for their material holdings Is regarded by local bankers cheerful comment ary the situation.
 Directors of the United States Metal Products Go. have decided to receive deposits of stocks under the plan of reorganization which was approved six months ago by the stockholders. The plan provides for a new company to be known the Metal Products Go. of Massachusetts which will take over the assets of the present company. The new company will have a capital ization of $1,00O,00O first mortgage 20- year 6 per cent. bonds; $2, 900 900 z per cent. cumulative preferred, and $1, ,250.- 900 common.
 The American Express Go. is one of the. first corporations to announce it's intention Of extending its business in South American fields to take advan- tage of conditions created by the F1u- ropean war. The company is now con- ducting Investigations with a view to promoting better transportation and financial facilities between the two continents James Thane and A. B.
 
 early next month as special represent atives of the American Express Co. and the New York Central Lines. They will visit the chief ports and scommer- ciaI centers of Brazil, Uruguay, Ar gentle, ChiH and Peru.
 Although most of the divisions of the National Railways of Mexico have. been reopened and are operated under the direction of the new constitutions alist government there is such a shortage of equipment that shippers are meeting with difficulty in having their transportation orders filled.
 Through traffic between the United States and Mexico by different gate ways is also inconvenienced by the absence of through rates and through bills of lading. The existing rates and bills of Iading only apply to border points. and shippers are required to make their own arrangements for the transhipping of their goods It will take many. months, even should inter- nal affairs in Mexico. continue undis- turbed, before the enormous amount of equipment that wasl destroyed dur. ing the War can be replaced and traf- fc placed on a normal basis.
 The week opened with very little change in copper conditions. The gem eral situation seems to be 12 3-8-12 1-2 cents for eleetrolytic, but small sales have been made as low as 12 1-4-cepts. Some of the copper ref1neries have cut production 9 to 50 per cent. The de-. nand for copper for export is small and producers will do well to maintain shipments at the rate of 50 per cent. If normal. Most of the copper now being purchased for foreign censump- ton is going to Great Britain and France.
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