New-York tribune., 1889-12-30
THAT PAY THE MONEY.
THE PRINCIPAL CORPORATIONS


country. There has been a large increase this year
In the issue OF railway bonds and securities Of various
Industrial corporations, while in number OF
increased dividends declared stockholders.
authority the subject presents compilation OF
figures showing that the interest payments for 1889
by railway and cognate corporations will amount to
s23s $40. .242. against S2103s9 2el In 1883 an in
crease OF S27 9sO.96l. while the dividend payments
will foot up to Slo2 O9l os9 against slO6341 800 in
1sss. decrease Of 81 o5o.3l0. leaving the total dis
buements for interest and dividends at S340 46l 331
compared with 1851 730, $50 in 1888 net gain Of
s23 730.651. 1t NAV be questioned. however, II the
dividend payments OF all corporations in 1889 have
been considerably in Of the previous year,
and II is gratifying fact that the Of the rail
in nearly every instance the dividends paid this
year have been derived from actual profits received
after liberal expenditure out of earnings for the i'm
provement Of the physical condition of the property
and additions 10 its equipment.
In the foregoing figures the interest payments in
January 1889 set down at S46.7s6,714 and the
dividend payments at sl5,745,ol5. a total of
S62 2407.279. These payments considerably in
Of any previous January for which records
kept They indicated an increase over January 1888,
Of about 81 100000 round figures. II is difficult
10 closely the exact increase which January.
$500, viii show over the same month of 1850. The
estimates Of bankers vary considerably and are doubt
less somewhat influenced by the particular amounts
paid out by their firms or the organizations Of which
they officers or directors. These preliminary
Inmates from ten TO twenty five per the
increase next month year ago. with the chances
pointing 10 the larger figure likely TO be shown 10
De the correct when complete returns are made
up. There is 10 be noted. however. growing dis
position the part Of railway companies and
featuring corporations in making bonds TO place
the semiannual interest payments al some other
periods than January and July. II is tendency
courased by many bankers and trust companies for
II IS obvious that general distribution Of these
disbursements through the year would to the
greater convenience Of the paying agents, besides re
ducng 10 a minimum the friction caused by necessary
collection Of moneys at financial centres Just previous
TO the great semi annual outpourings. To some ex-
tent IL believed that this change viii tend to keep
down the amount Of January disbursements, but its
influence as factor in the gross amount will be
overwhelmed by the increase in the number Of inter
estbearDg securities in the market.
In regard 10 payments on account Of bonds. the
reorganization of the debt of the Atchson Topeka and
Santa Fe Railway VIII add TO the total figures The
fixed charges Of this company have been cut down
from s9O75 769 to $500 800. But only com
paratively smaD amount of the various old issues Of
the Atchison bore interest PAYABLE in January and
July. The payments that fell due on January !.
1889. were about 81 100000 in round numbers. on
January /. 1890. the semi annual interest the
g will he payable in Boston and Al The Union Trust
Company here. and while it cannot be determined Just
how much money will be disbursed, there is due on
that date about S23OOOOO. an increase of fully
81 eco 900 the gross amount OF interest payments
Of the coming month.
In the matter of dividend payments. there will
be important increases. The extra
dividend OF thirty four per cent in the
Western Union Telegraph Company stock will readily
come 10 mind and this VIII give 100000 more to
the stockholders than received at this time a
year ago. Then the Vanderbilt extra dividends
although PAYABLE February l. fairly charge
able 10 January statistics. The extra IL per cent
on New-York Central viii add TO last years record
s447 ,l42; the extra ! per cent on Michigan Central
and Canada southern viii add S39l .3o2. II Is not
improbable that the coupons paid by railroads and
nearly related corporations in January will reach
So 100000 aud the dividend payments SIS
100000 making total Of $4,000 0OO or ali increase
Of sl3. 900 900 over January. 1850.
In addition 10 these disbursements the Govern
ment and state payments on bonds. The interest
coming the holders Of Government bonds necessarily
lessons with the steady reduction in the Naeonal
debt The interest payments due January on these
securities however viii amount 10 about S5OOOOOO
II 10 these amounts be added the large payments on
manufacturing and industrial securities and the
municipal interest payments ii does not seem too
liberal estimate 10 place the grand total of money
obligations of this falling due in January, 1890
At from 500 900 900 to SllOOOOOOO. But however
statisticans arrange figures there is consensus OF
opinion that the coming month will empty into the
laps Of investors money than the country ever
before poured out in the same
In previous years private banking firms were more
freely used than they for the distribution OF
interest to bondhoders and dividends 10 stockholders
Tie business has grown large and the work has
become so burdensome that the machinery is now IN
the hands Of trust companies and banks almost
altogether. They receive pay for their labors. which
are greatly increased by these duties The great
railway corporations in many cases pay their own
obligations and duly advertise them. The banks pay
their own dividends and the manufacturing and
miscellaneous corporations themselves announce
where their interest and dividend dues may be col
lected. In many the payments Of corporations
made in more than city for the convenience
Of creditors and investors. The exact amounts are
not readily obtanabIe, but in the following tables
some Of the largest payments made outside OF the
regular Oitces Of the corporations are given. The
lists make prcienson TO completeness, and In
some Instances changes Will be made in them before
January l. but they afford idea Of how numerous
anu lar reaching the financial channels through
Nhch investment money rams from this city in the
hsl month Of the year. The payments made by
some oi the leading banking houses and bankers Of
"e"-1Ofh Id JahuaIy, 1880, Will be follows
DISBURSEMENTS BY PRIVATE FIRMS.
WlNSLOw. LANIEB co.
ASsSsy ss q yt Ss'S C. aR SIS oJys SO %
Alen County Ind coupons......'........... 1000 90
Anderson Ind. coupons..................... 27O 90
Columbus IND coupons -.~.............. 900 90
oo1ax, Ind, coupons...... ....... 80 OO
Cleveland and MaAonig Valley R. r. Co.
y.
Cleveland and MahOning Valley R. r Co. '''OOO
c.oo coz P2roS rosa.5i isa 1882 90
Danvile. Ind coupon .......... 80 90
kyansyiie. Ind eogpons. So 600 90
40