The Bridgeport evening farmer., 1914-05-20
c. & Q. WILL PAY
 REGULAR DIVIDEND.
Lovett To Succeed Ledyard As Direction of New York & Harlem.
BARRoN FINANCIAL NEWS.

l E D.
 New York. May 20.-Directors Of the Chesapeake & Ohio railroad main tain that there is no reason to change their previously expressed opinion that the regular dividend of one per cent will be declared at their meeting on Thursday A careful review of earn ings and balance by officials forms the basis for the conviction that there will be no change in the present four per cent rate. At this weeks board meeting, as previously pointed out in these columns. directors will not be required to consider the provis- ions of the recent note sale. which call for stated amount each year to be set aside for improvements to prop erty before dividend payments. The first instanment of this payment, $500, poo, is payable August I. and the total amount for the fiscal year ending June 30, 1913, is $2.00o, GOO.
 At the annual meeting of the New Fork & Harlem railroad. Robert s. Lovett was elected a director to sac-s ceed Lewis Cass Ledyard. A repre- sentative of minority stockholders, was present. but he did not offer any opposition to the ticket nominated by the New York Central management
 Ear1y estimates Of gross earnings for April indicate that railroads will show a small falling off in that item for the month. Total gross of 45s T0aQSs Iy 7o.0oo. or a little more than one-s fourth of the total operated mileage of the United States, for April. was $52,09S, ,86 1, against $54,042.642 the preceding year, a decrease of $1.949.-s 6s1. or 3.6 per cent
 Since the first of the year there has been steady advance in short term: notes.k During the latter part of De- cember. 1913. they sold down to the lowest prices for month or two pre- ceding, but since then the movement has been entirely the other way. When comparison is made with the low prices of last, year, recorded in Au-' gust. the advance is seen to have been most decided. The significance of scontInued high prices foran otes is that it points to sthe nnaintenance of low money rates. Except for those short term issues that are affected by U m certainty regarding the ability of the Issuing company to pay them off or re-inance them. notes move in close relation to the money market. sell ing high, so that the yield basis is low, when money is cheap. The very early maturities of strong companies, in fact, sell strictly on a money rate basis.
 The officiai announcement of the Northern Pacific financing plan says a meeting of the stockholders will be held at the company's office in New ork on June II for the purpose of obtaining their consent to an addition al mortgage on the property. The amount and terms of the mortgage will be determined by the board of directors after authorization by the stockholders. At the end of the 1ast business year. Northern Pacifc's caps itaI assets aggregated $s02,722.702. ] and it's capital liabilities were s547,- s66 1000. The cornpany's capital stock is now $25o.000,O00 authorized and $248, ,De0, 1000 issued.
 By the end of next month the big majority, if not all, Of the contracts now held by the United States Express company. will have been assigned to other express companies. There are over 100 of such contracts. and prac- tica1ly all of them will go to the three big companies in the heId-.Ad- arns, American and Wells Fargo. Up to the present time only one contract owned by U, s. Express has been definitely reassigned. This is the Lehigh Valley contract. which was made over by the railroad company to American Express Co. The next contact to be reassigned probably will be that of the B. & O. syst ern, inc1ud- ing the Chicago Terminal According to indications this contract will go to WelIs-Fargo.
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