New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-06-22
DIVIDENDS OF THE VANDERBILT LINES

lnurSday, June Up w.
The directors Of the three Vanderbilt middle
lines of railroads to-day met and declared divi-
dends for the six months TO end June 80 Esti-
mated statements of the business for the six months
also presented. The several meetings were
held one week earlier than usual: satisfactory
for which is that it suited the personal con-
vencnce of the directors of the several companies
10 meet this week rather than next week. The
Lake Shore and Michigan Southern Company de-
clared dividend Of per cent, Michigan Central
one of 2 pcr cent, and Canada Southern one OF
i Ia per cent, all payable August Is.
LAKE SHORE AND MICHIGAN SOUTHERN.
The estimated statement of the Lake Shore and
Michigan Southern Company shows net earnings
for the current six months of 81 542 935, equal 10
3.l2 per cent on the stock, against 1853 per cent
for the six months OF 1887 and 1.19 per cent for
the six months of 1856. We have reason to be-
eve that the asccrtaned actual results Of the last
six months will prove to be considerably better
than the estimate. The question will be settled
by the official report, due TO the NewYork State
Commissioners on August 8. Accepting to-dny's
estimate for the six months as correct the surplus
earnings for the curreat quarter-April to June
3O-wil be 1853, 566-1.72 per cent, only 0.26 less
than the dividend for the six months-against
s972Is4 for the quarter Of ss7 and s233,576
for the quarter of 1856. Operating expenses
include oil additions to betterments and equip
ment Nothing has been charged 10 constIuc-
ton or equipment since 1883. Never in the his
tory Of the company its financial and physical
position as sound as it is now, and never, except
last year. did 10 earn so much honest money Tor
its stockholders. The following compares the
statements for six months Of three years
Six months ended June 30 1886 1897. ,lssS:
Gross earnings--.- 80 1888 9s2 ss Ga SS5 ss011s9S
Net csmings.....-. s2447.G97 sS5IG19s ss, sls 935
First ehaIges.-....--.- ls5G,40o le3oO0o 100000
Per cent on stock i.I9 1853 3.!2
Estimated.
MICHIGAN CENTRAL AND CANADA SOUTHERN
As is we'll known. the Michigan Central and
Canada Southern railroads operated as one and
that after the deduction from net earnings Of all
first charges on both, the balance is divided be-
tween the two companies by fixed rate, and that
each company approprates it's proportion separ-
ately The estimate for the current six months
gives surplus for division that Is 81 600 less
than for the six months of 1887, but s356,O0O
greater than for the six months Of 1856 The
Michigan Central di vidcnd of per cent leaves 1t
q balance Of 81 g. 236 from the division of profits.
requires the outgo of S2S,500 more than its pro-
portion of profits but the Canada Southern never
has earned its dividends in the first six months OF
the year, and had accumulated 80 90 Dol OF undl-
vided profits at the end OF 1887, so that after
deducting the deficiency of the last six months the
remaining balance was S37S,40l. The following
compares the statements for SIX months OF three
years:
Six months to June 30 IssG les5; - ls SSo