The Bridgeport evening farmer., 1914-08-21
WHEAT PRICES ARE. AGAIN TENDING TO
 HIGHEST LEVELS
(Barron Financial News.)

x ss, 5 New York, Aug. 21.-Brighter export prospects has again turned the course of wheat prices upward, aLrd'zC Chicago contracts are now ruling within a small margin Of the high levels estab- lished shortly after the beginning Of the war 1xport ciearances are iza- creasing and the credit situat tion is gradually clearing up. Most of the wheat lclearing seabosrd points is in English bottoms and is destined Tor Great Britain. France has also closed contracts for wheat shipments. but throug g;h French banking houses in this city,
 ! Reduction or suspension of divi- dends by former Standard Oil compa- nies is Becoming matter of aIfnost daily Occurrences The latest concern to announce this course is the South Penn Oil Co., which has passed the regular quarterly dividend. An off, | cfal statement attributes the action to l the susp ension of commerce between
 the United States and the countries at war.
 ] For ttle first half of the current year. the eoznpany paid two quarterly 1 dividends of 8 and g extra Since i JllIy 1913 when the capital stock was 7 increased from $2.5O0000 to $12,5oosO0O I the company has paid four quarterly 1 dividends Of $3 and fhree extra divf-
  l been hard hit by the war because it l furnished most Of the requirements Of \ the seaboard refineries, and the cessa- I ton of exports has naturally resulted in a big loss to the company For the a year 1913 the company reported net T earnings of $6. .637,702, equivalent to 5S
 per cent on the capital stock
 f Z Officials of the B. F. Goodrich Co. l say that company has no intention or lreducing the price of tires to follow I the lead of the Goodyear Tire & Rub \ Der co The Goodrich Co. advanced
 tire prices 12 1-2 per cent. at the time
 Of the recent sharp advance in crude
 rubber. <
 The London sHatist regards as fa-
 vorabIe the recent decision of the in- N terstate commerce commission in tRe Eadvance freight rate case, it's view be- ling somewhat at variance with that
 taken by most home railroad officials
 and railroad economists
 The statist says. By their decision. 1.-the Interstate commerce commission has given the investor in Araefacan railways the assurance that 1t consid- CTS the railroads are entitled to a5ddi- el tionaI compensation for all extra bur
 denss that have been placed upon them
 in recent years by increases in rates
 Of wa ges, higher rates of anteresf on
 new capital issued, higher prices ol Il I1aterials and by state and -9edeE8l el legislation which though adddmG con-
 sideraBly to expenditure both capital
 and operating, does not augment rev.
 enues
 aWfthout a doubt, confidence an
 American railway securities will now
 be restored, and once more those un-
 dertakings in good credit will be erl- il abIed to raise all the capital they will require to provide the many additaoral
 facilities that are so essential to en-
 able them to cope with the heavy ad- :. ditional traffic that must accrue in the I future.s'
 A There are now three cash markets \ for securities in operation The frss l was inaugurated by the New Street i put and ca1l,' gentry short time af- I ter the Exchange was closed The
 Street christened this the gutter
 market. To provide an outlet for se- curities for sale and at the same time give prospective purchasers aI- oppo- i t1nity to acquire the stock offered Tor saia the Stock Exchange authorities a sanctioned the opening of a. cash mar ket. Now the Consolidated Exchange announces that a committee will hold Gaily sessions to receive from mem- bers written bids and offers with the
 idea of bringing together buyers and sellers. In this market also all trans actions must be for cash.