The Bridgeport evening farmer., 1914-02-10
IN FINANCIAL CIRCLES


 eThe Barron Financial News seryice.) New York; Feb. 1oARumors of ex- fravagant bonuses by Standard Oil subsidiaries. on which was based the active speculative buying that brought about the recent ill-fated boom, have been effectually sfIenced by the an nual reports of three Of the pFoIl1n e11t members Of the group-4A Is4n tic Re7s hning. Buckeye Pipe Line and Stand ard Oil of Kentucky The latter com pany did remarkably well it4s 1913,s the net profits equalling more than loo per cent. on the old capital stock or s1 coo GOO, and about B per cent on the increased ca pital of s3,0o0.00o- But before this company had issued any statement of it's financial condition last year rumors were flying thick and fast of an impending stock dividend of 1,40O per cent. Tie abtsuFdity of such report was shown in the bal ance sheet for 1912. Most Of those who contributed to the ssboonas by buying. the shares on slender margin are now. sadly refiecting on the folly of Htnesr course.
 HearinEs have. been started before a special master in the government suit against the Reading Co. Philadelphia & Reading Coal & Iron Go, Central Railroad of New Jersey, Lehigh E Wflkesbarre Coal Co., S<enIgh Coal 6 Navigat tipn Go, Wilmington G North ern Railroad Co, Leh1gh & Hudson River Railway Co. and Lehfsh & New England Railway Go. The following individuals have also been named as defendants George F. Baer, George F. Baker. E. T. Stotessbury Henry C.. Prick P A. B. Widener, H. A. du- Font Daniel Willard, H. P NICK can and SamueI Dickson.
 Since the start of 1914 General ElecL 4f5e Co. has been receiving orders aL a rafe of about SIS. .OOO 000 annually,
 
 pared with a year ago. The main- stay of the company's business is the demand for small goods There has been all cast up yet, earnings on dropped from the payro1ls in the latter part of 1913, nor is there any immedi- ate prospect of such deTelopm ent While. the accounts for 1913 have not. yet been all cast up Sets earnings on the S101s sS69. 500 capital stock outstand- ing are expected to be approximately 1e per cent, or just about the same as the percentage earned on the $77,764,- 700 outstanding stock in 1912
 The State Corporation Commission of Arizona is considering an appli-a cation made by Southern Pacific for permission to issue s55, 000s 900 convert1-s bIes, Of which s26, GOO coo is to retire notessSi1 June. and the balance for bettermehts and impro vements. The. latter includes double tracking be- tween Benecia and Ogden, a number
  friAcatIon Of San Francesca Bay sub urban lines depots in San Francisco. Los Angeles and elsewhere, and $5,-s o00,0Oo for the Sunset division in Texas and Louisiana
 The Copper Producers' Association reports stocks zof copper ong hand Feb ruary 1s at s7.296,6s5 pounds decrease Of 4.14z,1S2 pounds. as compared with 91.zS8 S67 pounds on Januafy f.
 The report that United Cigar Stores. Go. plans 10 cut the wages of clerks to erect a saving of from $175.0o0 to s25o. .000 per anIu1n has been denied by Vice-President Ayeritt- The runnor was evidently founded on a movement that the company has made to read cordi2g to MT. Averitt, win not mean my. zut sin the Aggfegate payroll as what the higheE eaIaraed clerks lose the fewer paid ones will gain.
 The American Steel FoundrIes Co. in 1913 made a much better record as ing yeaE Net totaz1ed s2.031. 271.x as compared with $f,543.S3S in 1912 In 1911 the company was able to show net earnings O. but s128,354 which en- tailed a hnel deficit of $514, ,802 after. fixed charges, etc Last years sur. plus amounted to more than per cent on the capital stock.
 In 1913 the Peoples Gas Go. earned a surplus of s2,ss7, ,e64. equal to 749 per cent. on the s38s5Oo, GOO capital stock as compared with 7s54 earned on the $35- eoe.Oo0 stock in the preceding year.
 Subiectkto the approval of stock- holders the American Agricult 1ral Chemical Co. has sold to Lee, aIIig-5 eilson & Co of Boston $7.00o. 900 10 year per cent. gold bonds, eonverti- ble. sirtto common stock at any time ] par Tor par.