New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-28
UP GO THE DIVIDENDS.
HIGHER VANDERBILT PER CENTS.
CENTRAL TO COME BACK TO SAN EXTRA / ON
LAKE sBoRE-oTHER MEETINGS AND

LAKE sHoRE-oTHER MEETINGS AND
DECLARATIONS.
1t was a great day at the Grand Central Station
yesterday aud the multiplicity of meetings of boards
of directors only equalled by the numbers Of
reporters from news agencies" waiting 10 convey
the first information TO Wall Street. Within
scouting distance were the brokers clerks. who
were hoping and expecting TO beat their rivals in
the news agency" line The investment world
was apparently hanging on the action OF the d.
rectors of the Vanderbilt system ar regards the
declaration of dividends for the speculative world
had succeeded in thr wing enticng and con-
fusing mystery about the proceedings.
After the noon hour everybody wore smiling
face inside the Grand Central Station, from Presi
dent Chauncey NJ Depew, who hobbled vigorously
on his glass leg, TO eX-Judge Stevenson Burke,
who at last saw dividend on the stock that is
handicapped with four names that mouth
wearying in pronunciation Quiet pleasure beamed
upon the faces of j. Rerpont Morgan and William
X Vanderbilt, and genial Treasurer Rosster was
more genial than usual Even Secretary Worcester
was Wiling to steal enough time TO explain surplus
accounting TO representatives OF bureaus OF IN
formation in Wall Street that often show expert
knowledge of SURPRISES. The action OF most OF
the companies was OF character 10 give cheef
TO the investor and promise the continuance OF
era Of good feeling among TIE railroads. Critics
who highly attuned declared that the manner
Of giving larger returns TO stockholders ana not
reflect the confidence in the approaching year
that should have been shown, but there were
many important financial firms i'll Wall Street
who looked upon the dividend declarations as IN
dicating conservatism while assuring welcome aid
to patient investors
The directors of the NewYork Central declared
the regular dividend for the first quarter oil the
fiscal year and adopted resolution That in SUD
stance promises TO place the company STOCK upon
a 5 per cent basis. The substance OF the resolu-
ton follows:
That the policy of the board is to return TO a
rer cent dividend basis that with this view the sur
pus for tn D esent Quarter be held special fund
which, together with the surplus for the remain,
ing quarters, be available for SPECIAL dividend
al the end of the fiscal year
In speaking OF this action OF the directors
Treasurer Rosster said that the road had Dcei
placed in first-class condition physically, ana
that there was reason TO look forward TO return
of It's notwithstanding capacity TO per cent, OF
even more. \ bctte- understanding now pre-
vailed on the rate situation and the controversies
that had heretofore been aggravated when ue-
veloped would now be investigated with view
to adjustment without unnecessary Quarfelllng,
The Lake Shore directors declared the regular
seml-annual dividend of per cent and an extra
dividend of per cent, pG yable out OF the surplus
Of the last two years making per cent Tor tne
wear 1883. On the Michigan Central and Canada
Southern the regular dividends of and IA
per cent respectively for the half year were De
elared. The stockholders of the Cleveland Co
lumbus Cincinnati. and Indianapolis Railway Will
receive a dividend of l Ia per cent the hTSt
of IL per cent the preferred stock OF inc
Beech Creek Railroad was also declared Inc
financial statements of the various companies are
printed in the financial column