The Bridgeport evening farmer., 1914-04-07
IN FINANCIAL CIRCLES

New 1Yo ork, April 7-Denver & Rio sGrandess February statement Of earn sings made a very poor showing. gross declining about s 200 70 % and 1let a bout $I4O.000s with tho final result a de- felt of $154,000 after deduction < gof chargess against q surplus of, s943 last year ebrua,ry is ordinarily Denver's lean month in regard to the volume of traffic handled, but this year it was especially unsatisfactory because of Very unfayorab bIe weather conditions in addition to a strike of the Colorado coal miners. The latter has impaired the companyss volume of traffic for a large part of the fiscal year and is expected to influence conditions for the balance of the year.
 The decisfon handed down by the courts recently restraining the Wabash more debentureg bonds for refunding sfours and preferred and common stock was in the suit brought by James Pollitz against the Wabash in the early part of 1907, and was based upon l, 900 shares of common stock purchased for the plaintiff through C.. H. Venner & Co., for $21, 900. The ac-. tion sought to have declared illegal the plan of exchange of debenture mortgage bonds and all securities is-. sued under it, including the first re- funding and extension bonds and to recover the par value of the bonds and stock alleged to be illegally is- sued, as well as to enjoin the fore
 closure of the refunding mortgage.
 The decision directs the payment to Po1litz of the amount expended by him
 in the purchase of his stock, namely
 $21, 1000. All the other relief above
 mentioned was denied.
 In it's statement of operations for
 Decemb Der, submitted to the Inter
 state Commerce Commission, United States Express Co.'S total receipts from operations are placed at $1,955s- 04f7, decrease of $285,344. The net operating revenues was $72,o43. a de- crease from last year of $79,523 For the six months to the end of Decem- l were SIC. .95s, 1928, a decrease of $s59,- O47. The net operating revenue was SIPS, ,824 a decrease of $269, ,598. The company reported it's mileage over
 steam roads at s2S,955 compared with 28,922 last year.
 Announcement by Chairman Camp l bell of the North American Co that the dividend on the $29, 793.300 stock will probably be increased from 59o l to 6@o a year, was predicted on the good gains in earnings made by the I operating subsidiaries. There is little doubt that North American Co. earn ings justify such an increase, as sub- stantially all of it's income after pro- viding for it's own charges are appH7 l cable to divfd ends on stock Deprecia- ton and maintenance charges are well 1 cared for by the operating company. North American began the payment of dividends by declaring 49o in 1904; I 5To in 1905 and 1906; in 1907 three
 Quarterly dividends of IA % were I paid Since 1911 the company has I paid 5Go per annun.
 Under the management of Recetv- CTS Jackson and Winter gross earn 1 ings of the Chicago & Eastern Illinois R. R. are holding up well. In eight 1 months ending February 28 the de- crease amounted to S111,500- Oper- l ating revenue in March showed 2 l slight increase over the correspondine I month last year. Merchandise freight 1 traffic decreased, but an increase 1T soft coal movement more than offse
 the loss in other freight.
 During the last week or two the I foreign exchange market has beer
 steadily advancing. The significance Of this is that it brings up again tht The present level of the market 4.s6 $ for demand sterling, is practi
 calIy where it was about two week Il ago. when a movement of gold in tha
 direction was talked of. At that time however, Europe took advantage o
 Brazil,s position in the internationa | money market and instead of takint
 gold from here the yellow metal wa,
 engaged in Brazil and shipped to Ar gentina-
 Yellow poplar. or tulip tree, the larg II est broadIeaf tree in America, haa