The Bridgeport evening farmer., 1914-07-02
MONEY MARKET
 FREE FROM STRAIN
Rarron Financial News.1

(Barron Financial News-1
 New York. July &-Fsrom all indica.- lions 1t appears that the local money market will pass over the half yearly settlzx1ent period without the senl- b1ance of a strain. On Tuesday, on the eve of the July 1 Gisburs ements, which rank second in importance to those at the close of the calendar year. there was scarcely a ripple in the situat1on to reflect the preparas- t1cns made to meet the requirements incident to these payments. About the only new development suggesting unusual conditions was the slight marking up of the renewal rate for call U1oney from 1 3-4 to per cent. but in the latter part of the day, the trend turned easier again. and as low as l 7-2 per cent was touched for the came form of accommodation
 Abroad. a more normal state of af- fairs obtains for this season of the year, and the money markets there have been made on them Tn Paris. the pending French government loan ef $16Q, ,Oo0, 900 has caused the ex- changes to move in favor of that cen ter, aS French pita1 temporarily e11- rloyed elsewhere Is being recaHrE -or Investment in the new rente is expected that the Aoan will permanent improvement -y conditions in the French ce ftcularly as it has proved ts ceedingly popular. beIng -suo-- srribed fifteen times
 The decision of the Baltimore < Ohio ratIroad to pay the interest, 1-2 Of 1 per cent. on the Cancinnati Ham tlt01 & Dayton general mortgage bonds, which are not guaranteed by the former, is said to have been due to a contract between the B 6 O. and ~ ~rI41r TT1z any deficit of C., fH & D. in earning this interest up to July 1. 1914. This contract was specifically for the ben ef7t only of the two parties and has been abrogated by mutual consent Nevertheless the B. & O. decided to meet the small interest payment on the theory that some holders of the bonds may have supposed that the contract referred to guaranteed them payment of the interest These gen. era1 mortgage bonds. according to tneir terms, bear three per cent in but this interest is not guaranteed and it is intdmated that the B. & O. will in no case advance any further interest thereon
 May gross esarnfngs Of Pennsylva- mia lines east and west, totaIEed $29,- for all lines amounted to $5s9SS,955, decrease of $714,O4S-
 Up to the close of business on Tues day, $5,o6G.O00 Brooklyn a.pfd Transit Elrst refundinE convertible per cent bonds had not been converted into snocaz. Time for conversion expired on "Wednesday since May 1, mono than $9,000, 900 Of the bonds have been con- Eer4ed into stock at par, ands during the past fiscal year, ended June 30 the amount turned in for stock was $a1. .s85, 00O This conversion increased B. R T stock outstanding to approx 1rnately s7s, ooo. 900
 The contract just closed by. James C. Brady with Lord Cowdray fnvoiv- ing supplies of fuel oil for the inter emts in which the former is interested iE as yet undisclosed, but the an upuncement of it's consumnation has attracted widespread interest among gas od1 users The latter feed that Last fall and winters shortage Of gas oil may recur in a year or two notwith- standing the adequate supply existing at present. and none Of the big users of gas oil wants to be compelled to
 take the fuel at price to be fxed go1eIy by Standard. Oil companies.
 An official of the Consolidated Gas [ O. says- The Consolidated Gas Go. 1s not in any sense of the word be- hind the arrangement made between James C. Brady and the CovVdray in- 5 terssts- had never heard of the pro- 5ect It is. however, believe a. clever b1siness move on the xagt of some syndicate to be in a. position to es1p- ply gas and fuel oiL''