The Bridgeport evening farmer., 1914-05-25
RAIL ROADS REPORT
 MANY IDLE CARS
RARRoN FINANoIAL NEWS


 New York, May 25-The fortnightly bulletin of the American Railways As- sociatfon reveals that on May Is there were 23S,642 idle cars on the lines of the United States and Canada, com pared with 228,S79 on May 1 an in- crease of 9,763 cars during the fort night. During the two weeks the gross surplus increased 230,533 to 239.406, while the gross shortage de- creased from 1.654, to 764. The net surplus of box cars increased to 82, 714 on May l 5 compared with 74, 579 re- ported on May 1. There was de- crease in the coal car surplus from plus decreased slightly. The constant ly increasing number of idle cars Ifas brought the surplus to the highest point in any year since 1900: The gross shortage of 764 cars is merely g. nominal one. and indicates that there was no difficulty in supplying rolling stock tc shippers.
 The net earnings, before <deprecia- ton. of the California Petroleum Go. and it's SUI bsidiaries for the month of April, were $92.672 as compared with $1ss,641 for the same month of year ago. This brings the earnings for the four months to April up to s7o2sIso which compares with $72s.-. 826 reported for the corresp onding. period of a year ago.
 The bank statement issued Satur- day showed the clearing house mem -bers to be in a decidedly strong posi- ton. The surplus reserve of over s50.00o.oo reveals a heavy accumu1a- ton of cash at this center and to large extent explains the recent heavy. shipments of gold abroad. Another favorable feature was the decrease of $32.051, 900 in loans. Aggregate cash reserve increased $5,8o0,00O.
 fa1 a1, Ia 15<a1 made that on June 1 the United Rail ways & Electric Co. will hold special. meeting for the purpose of consider ing a resolution to issue and sell $1,-. 00o.0 .0e0 two-year. old collateral trust 69o coupon notes. The notes, au-i option of the holders into common stock at 3S 1-3 dollars per share. Stockholders of record at noon on the first day of June will be given prefer ence in the allotment. That is, every subscribing stockholder will receive an allotment of $1O0 of notes, or null tiples thereof, for every forty full Shares of stock or multiples thereof, notwithstanding any oversubscription Of the notes.
 With other steel companies, the. CrucibIe Steel Co. of America has suf- fered a decline in operations during the past few months, due to the slump III StGG1 OQSluSSSs S1lJuOQSh SAoAi1S January and February. the slight re- vivaI in buying placed a considerable amount of business on it's books The low. price at which the companys sl common stock is selling, ranging be- tween s14 and s15, has caused some surprise in financial circles, owing to the company's strong fnapcial posi- ton.
 The company earned 12.84 per cent. on it's common stock in the last fiscal year, which was the best showing in it's history, and compared with g. per cent. in the previous fiscal period. For the four years ended August 31, 1918 the company earned an average of E is better than showings made by conn panies whose stocks are selling twice as high as that of the Crucible Co
 CT. L. Watson & Co.)
 Although the market is still irregu- lar and narrow, the. two great funda- nentals of easy money and splendid crop prospects remain as a bu1wark against extreme depression and there is an undercurrent of confidence in the future which<appears to be grow ing among many substantial interests. Aquidation in commodities and li- uuidation in securities have been thorough in the last few years. Liqui- dation in labor is in progress and it's completion may readily prove to be the last step necessary prior to the of constructive processes and activities.