The Bridgeport evening farmer., 1914-02-17
IN FINANCIAL CIRCLES

 | (The Barron Financial News service.1
 New York. Feb. 17-The Amaf
 gamated Copper Co. because of it's ownership of the Anaconda Copper
 Mining co, is receiving close atten- ton from Wall Streets rumor fac tory. It is currently reported that in view of proposed legislation against holding companies, Ama1gaInated will distribute it's 3,132,50o shares of Ana conda to stockholders. That the com pany has any such intentions is eIn- phaticaIly denied by officials It is well known that Amalgamated relies upon Anaconda to furnish revenue whereWith to declare dividends. In 1913, however, Anaconda probab ply did not earn enough to cover it's own divf- dends, but this will not be disclosed until the annual report is made public early in the spring. People familiar with the company's affairs say that the report will reveal a deficit of about $1,000, 900 after payment of dividends The last shipment Of gold coin from New York to Haiti. which amounted to s300.00e, brought the total of yell How metal shipped to that country from this city since last fall up to ap- proximately $1,090.0o0. The banking house that shipped the major part of the gold announces that the first and last two consignments were made for
 
 transactions in settlement of interna- tionai indebtedness.
 According to notices posted at the Youngstown plant of the Carnegie Steel Go. wage reductions ranging from 20 to 50 per cent. affecting all tonnage men, will become effective 1 this month. In local steel circles this | news is interpreted as meaning a re- duction in working hours rather than in the rate per ton. The fact that l many of the mills are idle is respontd- ble for the action.
 Stockholders of the General Chem 1 leaI Go. Of California have approved 1 the proposition to reduce the number of directors from 12 to 8. The an- nuel meeting of the company was a routine affair." In spite Of the growing importations of foreign meats notably from Argen- tina and from Australia, made possi- new tariff, and which if long continued or successfnI must materially affect
 the returns of the large packing com panies. the last year witnessed the enormous increase of $2o9. GOO. .O00 in | the turn ov err of the packing busi- ness of the five large companies. This 1 brings the total Of their business up f to $1, ,154, 4,500, 900. Swift & Go. top the | list with s400.000.000 of gross busi- ness: Armour & Co. with gross sales l Of 3S5o, 900, 900 were second, while I Sulzberger Sons & Go. did the small est gross business, amounting to $1z5.- IFO00,00o.
 The offer of the National Railways I of Mexico to substitute three year 6 | per cent. notes in payment Of January l 1 interest on the prior lien bondbs, be- I came automatically operative on Feb. | fl by deposit of over 91 per cent of the interest coupons. According to | the offer at least 85 per. cent. of the bondholders had to deposit their cou- pons in order to make the offer opera | tive. The securities on which the l January 1, 1914. interest WAS not paid in cash are the Az per cent prior I lien bonds of the National Railways of Mexico and Of the National Railroad | of Mexico. and the priority bonds of the Mexican Central. ~
 The sharp advance in the shares of Western Union has been accompanied by reports that plans for the sale of Western Union holdings by American | Telephone & Telegraph are well under way. It is runoFeds that tue American Telephone 6 Telegraph Co. will sell 1 to syndicate on a basis of around i $61 share.
 The Ohio oil Co. has declared an I extra dividend of T 5 cents per share in addition to the regular quarterly
 dividend Of $1.25. Three months ago the company declared an extra diyi-
 dend Of S6.75.
 i Stockh olders of the National Carbon I Go have authorized an increase in ths
 capitalizafiofa as follows: Preferred 1 stock from $4,5U0,0 900 to $S,600, 900 l common from $5s500s000 to $12, 2,00O,,
 oeo.