The Bridgeport evening farmer., 1914-02-03
IN FINANCIAL CIRCLES
THE RARRoN FINANCIAL

NEWS SERVICE.
 New York, Feb. 2-Instead of fur nishing J. P. Morgan & Go. cash with which to pay off it's $10, COG, 600 matur- ing notes, Boston & Maine has supplied the banking house with extended notes which will be offered in exchange for the maturing securities. In taking this step the road has been guided by it's counsel It is believed that holders of practically all of the notes have agreed to the extension. though owing to frequent change of owner ship of some of them, it has been inn possible up to the present to get in touch with owners. Extension Of the notes is considered by bankers the logical thing for holders to accept, and it is the hope of the road that the entire issue can be cared for in this way.
 While making a slightly better reIa- tive showing than in the preceding month, December net earnings Of the New York Central Lines were below those Of the corresponding month in 1912. Total net of all lines was sS.- 541. .466, against $6.629, POT in 1912. Gross for December amounted to $23,528, 495s as compared with $25. .1SS,952 in the preceding year. For the 12 months ended December S1 gross was $297,- 86a ,s06, against $2so, ,2s2, ,5ss. Net for the same period was $59.592,S70, against s71. 569, ,431 last year.
 In it's December operations New Haven ran behind the same month year ago, but to an extent that will not be unfavorably regarded by stock holders. AS forecasted in these col umns the official statement makes much better showing than was expect ed few weeks ago. December gross, amounting to $5,42S, ,914 falls less than month last year. while the net of $1,- O97, ,5s2 is a decrease of about $140,000 from the record of year ago. Bos- ton & Maine scored gains in both gross and net for the month; these increases were slight, but they are. gratifying none the less as indicating that the tide has turned.
 January's record of Stock Exchange transactions makes the best showing of any month since December, 1912. The number of shares dealt in ex- ceeded the previous months total by 2, ,997, ,36O shares. On six days during the month per diem transactions were greater than 5O0,000 shares, the 1arg- est days business amounting to 78S,- 33S shares. Bond transactions amount ed to $8s, ,316, 800, an increase of $42,-l so9, ,o0o from December's record The largest daily transactions were ST. BIO, 800.
 Samuel McRoberts and Charles wv HotchIziss have been elected directors of the VirginiaA Railway to succeed S- is expected that at the reorganization meeting Raymond DuPuy will be elected president, that position having been vacant since the resignation of Urban H. Rroughton. MT. DuPuy is at present vice. president and general manager.
 The start of the current month has witnessed. a somewhat improved sit uation in the steel industry, though buyers are still coy. While new orr. ders are above present production. they are still far below maximum sumers are less anxious to buy at pres- ent prices than they were when con. sessions were general. Wire prices have been advanced about $2 per ton from the low level but this IS not re- garded as unusual, as the American Steel & Wire CO. generally marks up prices after a general buying move ment in order to encourage specifca- tions and to protect consumers. Unit ed States Steel Corporation in Jan nary is estimated to have shipped be- tween 650,O00 and 700,0 GOO tons of steel. Assuming that the corporation receiv- ed profit Of s8 per ton earnings for January were approximately $5.800s- 1 900.
 It is understood that J. P. Morgan & Go. will, within a few days offer upon 4 3-4 per cent. basis $7,400, coo | of South and North Alabama. Rail- road Co. general consolidated 50 year l 5 per cent. gold mortgage bonds guar anteed as to principal and interest by endorsement of the Louisville & Nash vile Railroad.
 RESOURCES OF BANKS
 IN CONNECTICUT 1 The seventy-seven national banks 1 in Connecticut had total resources of $129, ,682, ,355.7S at the close of January B. The loans and discounts of Con- necticut national banks aggregated | $69, ,311, 445. 5s and their reserve of gold coin was $1, ,539, ,459.50. Individual de- posits in the banks aggregated $71,- 952, ,742.77 and the percentage of legal reserve to deposits was 17.86, while the percentage to deposits of cash on hand redemption fund, and due from re- serve agents, was 29.29.
 1 NEW HAVEN BONDS.
 Lincoln National Bank of New York city. is paying off the s5,ooo,ooo non- convertible debentures of New Haven which matured yesterday. Funds were 1 provided by the $45, ,O00, 900 notes sold l in November, proceeds of which also took care Of 4o.ooo, GOO notes maturing IDecember 1. Nothing has been done las yet regarding retiring of the new tnotes which mature May IS, with the right of the company to retire earlier. | APPRAISED Ar $40, 53S, SIP NET. Appraisal of Henry H. Rogers es- tate shows net of $40. 538. .612. Includ- | ed are Is, ,o20 shares of Stan lard OH of New Jersey, estimated value May 19.