The Bridgeport evening farmer., 1914-12-24
NEW YORK EXPERT REVIEWS SITUATION
 IN FINANCIAL WORLD
1Barron EInancial News servieel


 New York, Dec. 24-The decision of United States Steel Corporation of ficiaIs not to reduce wages at this time which announcement was ac- companied by a statement to the ef- feet that a rift in the clouds was dis cernibIe did much to lift Wall Streets spirits. Marketwise, however, the good news fell flat as trading on the stock exchange by reason of the pending holiday was not expected to be- heavy. In fact the attendance of the members has dwindled away from the opening session or two in very perceptibIe manner. The steel indus times and the announcement of Judge Cary chairman of the corporation, to the effect that the financial and industrial skies were brighteninG was regarded far and wide as one of the most optimistic utterances noted of late.
 The New York Central & Hudson River Railroad is no more. The New York Central Railroad Co.,, the new three hundred million dollar merger of all the Vanderbilt lines has taken its place and henceforth the thou sands of miles of trackage constitut- ing one of the biggest and best sys- tenas in the country will be under the absolute donnination of officials at the Grand Central station. It was not a rosy path which the railroad people trod in their efforts to bring about the merger, for there have been innumerabIe law suits and attempts at retarding the plan which should make for more economy and possibly for better operations;.
 The Nichols Copper Company has passed the dividend on it's seven n1il- lion dollars common stock which for several years past has been at the rate of six per cent annually. The company owns and operates the larg est copper refinery in the world with a yearly capacity of turning out 400,- 100000 pounds of copper ready for market. The fifty per cent curtail- ment in mining operations and the resultant slowing down of smelters has brought about slow times for re- fineries and the dividend action as here noted was the logical step.
 Another Morgan voting trust ends shortly, the International Mercantile Marine Company having decided to issue common and preferred stock certificates in exchange for the Vot-E ing trusts now outstanding. The trust will expire on February 23. Last June Southern Railway voting trust certificate holders were requested to deposit their holdings in exchange for stock The Chicago Great Western trusteeship expired by limitation in September. The Mercantile voting tFuSI <1Sr rSeALlS41I was SALSEcA 4AtO 16- tween the company and the late J.. F. Morgan and was extended so as to expire October 1, 1917, but the trus- tees using their discretionary power have decided to end 1t on Feb. 23, next. Surviving voting trustees fol- low: J. Bruce Isnaay, P. A B. Wid- ener, Charles Steele and Lord Pfrrie.
 Announcement has been made that for the first time in the history of the United States Steel Corporation it's officers and department heads will receive no bonus this year. About $2, 1000, 900 was distributed in this manner last year, but earnings for that period were more than $1 37, ,o00, ,- 900, while this year they are not ex- pected to run much above s75,00O,- 900. This action does not affect wage earners. but only the income of the higher salaried officials and heads or departments.