The Bridgeport evening farmer., 1914-01-24
IN FINANCIAL CIRCLES
crhe Barron News Service,

(Iuo Ba1EOH 1NSWS .06EN1Ce-J 4a
 New York, Jan. 24.-An important contributing factor to the notable Ina provement that has lately developed in Stock Exchange business is the substantial cash buying of stocks in s1nau lots. Investment activity Of this character benefits the street in many ways It not only indicates the best kind of absorption, but it brings mon ey into the hnancial quarter, which, tending to make interest rates lower, promotes speculation. Most Of those who pay for their stocks in full place them dn strong boxes and disregard fluctuations.
 The discouraging feature Of the steel trade is the small margin of profit on steel sold at present pr1ces. One man. ufacturer makes the statement that the only reaSonafble profit is in steel rails on the basis or Sz8 a ion for andaFd Sections The proats Of stees manufacturers, on various products; he says now range between $1 and $5a a ton The United States Steel cor poration through it's many sources of income including railroads. steamship lines, etc. is able to show a. much wider margin of profit than the inde- pendent coInpanies
 Declaration of a second dividend of per cent in a period of three mon ths on the preferred seoch of the Sea-. board Air Line Railway for all prac- ticai purposes establishes Q per cent. annual rate for that stock. Although the board has so far not committed itself to this per cent. rate and adj heres to the declaration of an undes- ignated dividend the inference seems justified that it is the purpose to pay per cent. dividends annually as long as nothing occurs to change the out look for the property.
 The New Haven Railroad executive committee will not hold a neeting this week, contrary to its usual GUS tom Chairman Elliott is now in Bos- ton.
 The Mercharts' Na.tiona1 Bank has received s100s0oO gold coin from Cam ada, which makes a total of 8. 000, 900 imported from thest country on the current movement.
 Belief exists in certain financial quarters that plans are under way for d merger of the Corn Exchange Bank render of the latter banks Federal charter in favor of incorporation un- der the banking law of the state of New York. It is contended that pow erful financial interests desire a very strong institution outside Of the Fed eraI Reserve system, whose resources could be ayadled of for purposes which do not receive eslll recognition under the Federal Reserve law The inde- pendent insti tuition could, for instance, lend money freely on Stock Exchange collateral and it is pointed out that of the plan since the National City Bank does not own United States governmen ent bonds, but merely bor- rows those which fl needs to secure government deposits. Morgan and Rockefeller interests are said to look with favor on the merger plan.
 Anticipating the favorable annual report that the company will Issue shortly, Lackawanna Steel has shown marked strength in the past week The report is expected to show about II per cent. earned on the stock after charges, depreciation and preferred dividends Tn 1912 the common earned but 2-9 per cent.
 The Standard Oil Co of Kansas has declared the regular quarterly divf- dend of $3, and an extra dividend of $7 a share. payable February 2S to stock of record February H..
 Fsorty-fve of the cotIntrv's national banks reported individual gross de- pe.sits in excess of $25,o00. GOO at the close of business on January 13, the date of the comptrolleris recent call for condition This number represents a. decrease Of one as compared with the previous caM on October 21, and includes 17 New York, 5 Chicago, 5 Philadelphia, 8 Boston and St. Louis banks.
 In addition to the regular quarterly dividend of 1-2 per cent, the Dia-. rnond Match Go. has declared an ex- tra disbursement of 1 per cent, both payable March 16.
 CBanlzer Henry Clews.1 Stocks have now had a big rise and profit taking is more in evidence, al- 1 though succeeded thus far by fresh outside buying on every recession. 1 The short interest though diminished, i is not aoy any means e1imfna ted, and continues an elem ment of strength. Tht market shows its healthiness by the l activity and strength or a large num- | Der of issues; the pond market also