The Bridgeport evening farmer., 1914-05-06
NORTHERN PACIFIC DENIES PLANNING
 NEW STOCK ISSUE
BARRON FINANCIAL NEWS. !

New York, May 6The persistent report that Northern Pacific directors were contemplating an issue of addi- tiona1 stock has brought forth an en- phatic denial from w. P. Clough, chairman of the board, who says that such plan has not been thought of and will not be considered. Northern Pacific's earnings are running behind those of last year At the end of March the surplus after all charges. Including dividends was a little more thaM $1, 1,50O, ,0OO, a decrease of more thaW $2. 900, 900 as compared with last year. The company reports crop out look in it's territory highly promising.
 Utah Copper Go. is stfn controlled by healthy margin byJ the Guggen- helms and their associates. The latest stockholders list, as of December 31- last, shows the Guggenheim Exp1ora- ton Go. to be the holder of I'll ,z09 shares; Daniel Guggenheim 10,010 shares, Isaac Guggenheim $500 shares, and Murray Guggenheim 2O,5s3 shares. Other large individual hold CTS are Spencer Penrose with 50,000 shares, Hayden, Stone & Go: with A. BIO shares; W.J. Yates 174,5o5 shares; c. M McNeilI 34,194 shares. The Bankers Trust Go, trustee, appears as the holder of 209, ,230 shares.
 While practically every other steel
 
 1918 than in 1918, the Pennsylvania Steel Go. revenues showed a falling off. The company earned S.06 per cent last year on it's preferred stock. compared with 5:01 per cent. in 1912. The last half of the year was so dull that it wiped out the profits of the greater part of the first half For a part of December the Maryland steel plant was closed down owing to lack of orders. President Fe1ton, in the annual report, attributes the poor showing of the company, to the small volume of orders. higher cost of pro- duction and lower prices prevailing for steel products.
 The emphasis laid on the fact that Rock Island should have 50,000, 900 to $65, ,o00, ,000 spent upon it has been accepted 9oy some as calling, for an un- usually large expenditure, notwith- standing the roads obvious needs. Yet in the five years to June 80. 1913. property investment account of the Chicago, Rock Island & Pacific Rail- way increased from SPAS. .6s5,62ss to s295, ,97S.37 or $46.292.751. The Atcfison has added $94, 3D7,773 to its property investment in the last five years, or an average of $18,s61,5 ,554 yearly It is not improbable that in; the next five years Atchison may in crease it's property investment propor- tionately.
 Of eight leading western roads, in c1uding Rock Island and Atchison, five have. increased their property invest- ment in the last five years more than s7O,ooO,ooo each, while for the other three the increase has been in each case more than s30,0O0, 900.
 The Buffalo, Rochester & Pittsburgh Railway. has sold to a New York and Boston banking house $944, ,00o five per cent. equipment trusts, series H. maturing. annually 1915 to 1880.
 A further spike in the late oil boom is the action taken by directors of the Buckeye Pipe Line Co. in declaring a quarterly dividend of s4, a reduction of s1 from the last quarterly disburse4 nent, which was paid on March 14
 March gross earnings of the Hud-l son & Manhattan Railroad were $488, 361, an increase of $4.6Oe over a year ago. Net income available for inter- est on the adjustment income bonds was $82,883, an increase of $6.241.