The Bridgeport evening farmer., 1914-03-06
IN FINANCIAL CIRCLES

Ohio's announcement of the sale of $33, ,000, 600 Hive per cent. gold notes has stimulated a wave of pessimistic sentiment in Wall street with regard to the financial outlook for the road. Selling that caused the sharp break came from the bear crowtds though it was also believed that a considerable number of holders liquidated. The bonds disposed of are of a total au- thorized issue Of $40,O00, 900, maturing June l, 1919- Of the proceeds $2S, 925s- 900 will be used for paying maturing obligations. For Jan11aI-y the road reported an increase in both gross and net earnings The former was 8 161,
 S27, comparing with g. s79. PTS in 1913; ne amounted to $863,240, against $s31,109.
 The deposit agreement for the pre- ferred and common stock of the Rock Island Co has been filed with the Bankers Trust Go, the committees depository. No date is set for the ter mination of the committee, and it is given the usual powers to consent to issuance Of receivers certdf1cates or trustees certificates, to settle actions, etc. The committe may adopt by a vote of two thirds Of dts members a plan of reorganization, and by a like vote may modify any plan pr adopt a new plan
 Failure of the directors of the Do- nafnion Steel Corporation of Canada to declare the common dividend due April 1 is an indication that depres- sion in the steel industry has been ex- perfenced as sharply across the bor- der as here. This theory, in fact, is amply confirmed by directors of the corporation dn the following state ment: eIn view of the depression in general trade conditions and in the steel trade in particular, it is consid- cred adWzSaible to confine the dividend f cent. already paid, and not to pay the usual dividend on April 1.''
 Local officials Of the American Smelling & Refining Co. say plants in Mexico have been closed down in the past two months, but on the con- l trary they have started an aiddd tionaI sTne1ter.
 Railroads operating in New Jersey ! have formally pedtioned the state leg isla,ture to repeal the recently enacted
 Fsull Crew law. Tine petition says in l part: .'T91e railroad companies in this section are facing a. crisis in their financial careers such as has not been I experienced in the last twenty years. The prosperity of the railroads and | their ability to meet proper demands | upon them ds, and justly. should be. a
 matter of p1lblic concern The peti- | tioners include the presidents of the Pennsylvania, Lackawana1a, Erie, Le-
 high Valley, Reading, Jersey Central,
 New York Central and Ontario & Western.
 January earnings Of the Reading company suffered to some extent be-
 cause of the mild weather, and its
 consequent effect upon anthracite traf- l hc The railroad gross was 8. .866, ,174 as compared with $4,575,0 ,012 a year ago
 The net Of $1,243, 745 compares with S1,
 s01, ,423 dn 1913 Gross revenues of the
 coal company were but g, ,S36, ,047
 against $3,680,572 a. year ago, and net
 prof1ts totadled $95, ,37s, compared with l $56o, 356 last year. Lackawanna Steel Go. in 1913 ro1led | up the largest earnings in its history
 but it is notable that the company
 made all Of it's profits in the frs | three e-qrarters of the year In the
 last three months operations entailed I a deficit of $108, ,514, compared with 2 1 surplus of more than $1,000,oO fol
 each of the preceding quarters. 1 Great Northern's January gross
 earnings were $4,243s53o, against $4,- l 59O, ,4s1 in 1913. Net after taxes amount
 ed to s942 286, as compared with $1 : l 093, ,594.