The Bridgeport evening farmer., 1914-01-22
IN FINANCIAL CIRCLES
crhe Barron News serydce.)

(The BanT-oL News Seryice)
 New York, Jan 22-The heavy over-
 subscription for the S51. .000. 900 New York state 50 year 1-2 per cent.
 bonds was more than satisfactory to
 Wall street. lit was the quite logical argument tIzat the unsuccessful bid ders for the State bonds would in many cases put their funds in the
 bonds of rsaf1road and indr1strdA1 cor po1ations thus contributing to a soundeu. investment sItuaftion dnst the street. The gratifying feature of the sale, however, is that it indicates q, plenlrStude of funds for investment purposes.
 Baltimore & Ohfo's loss of $3s2.17 in December gross earnings compares with a loss of .n1ore than $1 100000 in November, in which month the road operated under a, serious hamdicap by reason of a. blizzard in Odslo and West Virginfa The loss was reduced to tenance Of way and maintenance of
 equipment chairges. For the six
 months ending with Dece4Bber gross earnings decreased $204, ,S26, or a frac- ton of one per cent Maintenance or
 way was cut down $304, 1882, or four
 per cent, and rnaintenar1ce of equip-
 ment three per cent. THansportation
 expenses increased $1s S69, ,290, or prac-
 ticaIIy ten per cent. Euf earnings Tor
 the same pertod decreased $1s437. IA,
 or nearly g per cent.
 The six natfoual banks of this city,
 carrying the heaviest volume Of se-
 curaties, reported in response to the ncomptr oller's caIl under date Of Jan
 uaHy IS, further -red5rctfon in this class of assets. Since the preceding call on October q the aggregate
 amount of the holdings slrl1nk from
 s1s1, 500 to s122, ,6o9.s9s This marks a further stage in the gradual decline in this fbean, as is dIldjea6ed by the .tdbaI Teduction of $19, 202 when the
 com pardkson is made with the eorre-
 spending cau on February last year.
 Interborough Rapid Transit rsepOrtF December reports earnings of $3,035, ,72s against $2, 962, S2s last year. Net after
 taxes was $1, ,702,o81 against 1,597, 5z0, and surplus after charges $843,905 conn. pared with $719, ,914. T11e company car ried 59, 343, 623 passengers, against bKs- s41.e42 In the coTTespomding month al year ago.. 1
 Directors of the Undted States Steel corpo0sibion are scheduled to meet
 next Tuesday for dividend action. The report for the qlnarteps ending Decer1- ter 3i will also be subrnItbed It ia expected that fhhfs w1lK show a dehcff,
 but i'm all probabaItfy it will not deter the board Grorn authorizing the reg 9liBar- quarterly dividend of s1-4 per cent. on the cozn1non stock. General estirnates of tine quarters net earudngs range 4ID1n $zzsOJVs s1U4 3uG 14O,0UVSyVAJ and the actual showing win most Hke- 1ly be closer ito the Tounler than the
 For the second week in January, rsiIroad gross earudnlgs show am dTi- provernent in comparison with the coarespon1iug week a year ago.. This is shown by the operations of 10 rep resentative roads in w1Ueay different sections of the country in that period. Tn the first week but four reported increases, and in the second week six were able to better htleir record of year ago.
 Tine Kellogg Switchboard Co. has declared a stock dividend of 25 per cent, in addition to a regular quar- ter1y dividend Of per cent A year ago the company decla1ed 25 peri cent. stock dividend.
 The adirsectorate of the American ! sChicle Go has been redaIced from twelve to nine members, F. R- Fam cher, s. T Brjtten and ]. F. PTimley 1,etiriFg For the year ended Deceqn- ber s1 the co9nra1ay is said to have earned net of appaox xir11ately S1, 60o, ,O00, surplus rernaiaadng after divadends amounting td about $320G GOO. William A. Read who. has resigned from taae board of Interborol1gh Rapid Transit Go, is expected to Teitfrc from the boards of the smaller com npan1es afi1iafed with the Triteroorougfa.
 St. Irouas Rocky Mpunfain & Pa cific Railway has declaHed a dividend of 1-2 of 1 per cent on the common stock eThe dn5tfaa dividend on this l stock, declared last July, was also 1-2 of I x,er cent.