The Bridgeport evening farmer., 1914-11-03
NEW YORK EXPERT REVIEWS SITUATION IN FINANCIAL WORLD

Barron Financial News Serv5ce) New York, Nov. 3-In theS matter of reduced and passed dividends the steel companies were again hard hit in the past week Out of twelve compan-- ies that either passed or reduced dis
 bursements to shareholders, six were steel companies, not including the AL gonna company, which failed to meet it's semi-annua1 interest payment. The most important reduction was that of the United States Steel Corporation,
 which cut the common dividend to 2 per cent This alone means a reduc- ton, of more than $15, 900 a year to shareholders. The Inland Steel com pany cut its dividend. from 1 3-4 per cent quarterly to 1 per cent The Cleveland Cliffs Iron company, one of the most important iron ore concerns in the world, passed its dividend of 1-2 per cent. quarterly. There were dividend meetings of about fifty conn panies last week. and twelve of these resulted in reduced or passed disburse- rnents. Since the start of the war between 10 and 15 per cent. of all cor poratons which have met for dividend action have cit her reduced or passed disbursements to shareholders.s
 British warships have put a. crimp in what promised to develop into a fair sized export movement of copper. Not much more than a. week ago exports of copper from the port of New York were expected to reach 60 O00, 600 pounds in October, but the hold-up of ships bound for Italy with cargoes of cop per, and placing the metal on the ac- tual contraIband list, necessltaAed a re- asion of the earlier estimates In the first twenty mine days of October there were exported from New York 52, ,447, = 43, 100000 pounds in the full month of September. Estimating the last two days shipments in October, exports for the full month must have been close to 55.ooo,oo0 pounds This would be an increase of H. 400, 900 pounds over Stepteu1ber shipments, and TO- s14.o 600 pounds oveI August shipments. The fiscal year of the American Ice company ended Novenber 1, and it eu- ters the new year in 9. strong financial position The company has no notes outstanding and Its net q1rfck assets are in the nefghborhood of $1, 500, 900, which is close to $1, GOO, coo in excess of current liabilities. The company is carrying a cash balance in banks Of approximately &250, GOO.
 Compared with July and August, the
 first two months of the new fiscal year, the Ba.H11nore & Ohio's showing in September was a. considerable i'm provement, the net result being less than $755000 below those of September last year As the B. & O. handles a. general line of freight and has many varied industries Iocated on It's sys- tenn, the monthly report may be taken as an indication of what to expect from other trunk lines.
 Directors Of the R. J. Reynolds To- bacoo company have voted to increase the capital stock of the corporation, which now stands at 100, 600 shares of common stock with ap ar value of $10o, by the Issue of 25,O00 shares Of $100 each of per cent cumulative prefer red stock. This stock is offered to stockholders of record as of Nevem-
 Der 24 at par in the proportion of one share of preferred stocq for every four shares of common stock held by them The offer remains open until January 2, f915 after which the unsl1bscr1bed stock will be offered for public sale.