The Bridgeport evening farmer., 1914-01-17
IN FINANCIAL CIRCLES
(The Barron service)

(The Barron Seryice3 N
 New York, Jan. 17-DeveIopnents
 of the past few days have dispeiIed a
 great deal Of doubt and uncertainty
 attaching to the position of New E4a-
 ven. The road has entered a new era. It is no longer the New Haven trans
 portation monopoly, but the New Ha-.
 ven Railroad, devoting it's energies
 and equipment to the handling of the big volume of freight and passenger
 traffic that comes to it by virtue of
 it's excellent position in a rich traffic
 territory. Confidence is expressed on
 every hand that the road has reach
 ed the turning point, and with it's ag-
 gressive and thoroughly capable man
 agement it is expected that before the
 passing of many years the system will
 have regained it's former high credit
 and prosperity.
 A final decision with regard to New Ravens Sound lines is awaited with much interest. The steamship hold it is said, will be sold at a consider able loss. An interesting situation will be presented by the sale of in terest in the Eastern Steamship Co.,, and the Merchants & Miners Trans portation Co.,, if by any chance these companies decide to combine for a coaStwise service extending from Bal timore to St.. Johns, N. B. It is con- ceded that such a merger would mean powerful competition for the New Haven and its Sound lines, assuming that it were permitted to retain them. The reason for the recent decline in American Writing Paper per cent
 bonds is that the company was prob ably unable to earn fixed interest charges in the fiscal year which end- $125,000. The company does an an- nuaI business of about SIP 1000, 900 gross but of late the unsettlemen in general business conditions coincident with higher cost Of raw materials and labor has but 8 severe strain on it. It is denied that the Anderican. Can Go. has formulated any plan involving a voluntary dissolution to stay Gov ernment action. The company's posi- ton, in other words, Is the same as In the event of the company fight ing the suit through the courts, it is improbable that the remainder of back dividends on thepr eferred stock, which equal $3,700,Oe0, will be paid out this year, as the defense of the suit would doubtless prove to be a heavy drain on the treasury. The company did as well in 1913 as in t1912 in the matter of earnings, but bond interest and sinking fund lcharges on the outstanding $14.000,- 1000 5 per cent debentures amounts to H. leaves the common stock than shown in 1912.
 A sale of Assets Realization at 20 marks the lowest point recorded since the stock was listed on the Exchange, December 14. 1911. The previous sale was at 27.
 The Granby Consolidated Mining Smelling & Power Co. has applied to the Stock Exchange to list $1,497, 20 0 first mortgage 6 per cent convertible coupon bonds. series f.A'' due 1928. Twenty two national banks of New
 York City, out of a total of thirty six, have so far expressed willingness either by action of the stockholders 1 or by recommendation of directors to join the Federal reserve system. In some; instances theS directors have only thus far favored application, while in other cases initial action was taken by the stockholders with in structions to the officers to apply. The stockholders of a number of banks have left the question to the discre- tfon of the directors.
 Gross earnings of Massachusetts tConsolidated Railways for December totaI1ed $40,094, an increase of $1,- SS8 over the corresponding month of 8 year ago.
 fBanker Henry cIews.J
 Rapid advances have taken place in some shares and profit-taking may time. The ur1derstructure Of the mar ket, however. issound and promising. A very favorable feature is the wid- enfng activity of bonds and the large
 number of issues dealt in at steadily advancing prices. There has also been better investment demand for stocks, many of which have been sell 1 ing at exceedingly attractive prices in view of the returns offered. Related shorts hastened the upward move ment, which does not yet seem to 1 nave exhausted itself. lSTEARNS HEIRS LOSE