New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-19
JANUARY DISBURSEMENTS
UNPRECEDENTED PAYMENTS OF DIVIDENDS
AND INTEREST.
THE AMOUNT EXCEEDS THAT IN ANY PREVIOUS
YEAR OF THE CoUNTRY's HIsToRY-soME
OF THE CHANNELS THROUGH WHICH

YEAR OF THE coUNTRY's msToRY-soME
OF THE CHANNELS THROUGH WHICH
THE GREAT FLOOD PoURS
The current month has poured into the Golfers Of in
vestors unprecedented flow wealth payments on
account of interest dividends January always
the heaviest payments of this kind of the year. with the
single exception perhaps of July. This January
however. has surpassed the corresponding month OF
last year. that had all preceding years In the conn
try's history. The amount OF stocks which dividends
due and payable this month shows increase OF
more than 500 900 900 over last year. The interest
paying bonded debt of railroad and other corporations
shows a gain almost as great The year 1850 was In
some respects a financially remarkable one The gross
earnings Of the railroads Of the country show An In
Of fully per cent over the earrings OF 1881
which aggregated ~ OO3 596 including the earnings
a the elevated railroads of New-York and Brooklyn.
This would indicate large increase of dividends PAID
out Of the actual earnings of the railroads. including
those of considerable amount of stock that for The
first time placed upon the divdendpa list Other
corporations make in most instances similarly Halter
Ing showing, though the increase of interest bearg
debt is far larger proportionatey than that of the
dividend paying bonds.
Another peculiarly Of the month is the rapidly
with which these obligations have been met. Many
OF the firms and corporations in this city through
whom the bulk Of the semi annual dividend ana
interest payments made report that delays in pay
ment have been extraordinarily few, notwithstanding
the recent and widely extended financial hurry
Winslow. Laner q Co., for example. through "Ho'"
some of the largest interest payments are maze report
that within two days from the advertised dae OIL pay
ment every such obligation had been met ms lc'
say, is an unusual thing, and in explanation 'he'
venture the statement that probably the hnanc huS
caused greater than usual in preparing ior 'n'
January ds5ursements.
According TO the figures printed In " III" DdN 0''"
hOder." the payments this month on account u ~.
teIest and dividends on stocks and DohuS Vi i"i''"
and other corporations whose securities are H9'ou VA
the stock exchanges of the country amount TO
e71 The interest p3rtion OF these payments Is
6s5 representing interestbearinS bonds to the
amount of 81 944 .13o, 344. The dividend portion Is
ST.. 0j2, 257 paid stocks that aggregate on tieir
face Ss53743.6O The total disbursement for the
month exceeds the corresponding payments In lo9o
by S2643256 those in 1859 by $6,4Od2l3, and those
OF lssS by S23,o ,401.
In addition To the disbursements above specihed are
those on and National debts ana those by other
corporations. dncludng insurance. Banking, manu-
featuring and other industrial enterprises Inc Ill
teIes paid by the different states during this month
will reach S3,2jO,0OO. while that paid by the larger
cities will amOnnt % SjOO0,0OO more. The interest
On the Federal debt does cntcr largely into the
computation as it would if large portion Of
il had not been anticipated during the re
cent financial stress. II i, estimated that the
total disbursements of all kinds during the month
will not fall short of @lO0,OOO,00O.
This great volume of Outf0wng money entails
vast amount of labor in handling it, Its proportions
have long since outgrown the capabilities Of the in
divdual corporations though the Danhs and in many
instances the great railroads. pay their own oplsd
lions. The great of miscellaneous corpOratiOnS
however, turn over fhc vast labor neceS>itated by
the scmiannual disbursements 10 trust companies
and banks, each announcing when lis Obligations
VIII be met many OF tlcn arrange for the payment
of dividends and interest in several cities
for the convenience of their creditors But
the work Of handling these disbursements Is
gradually ccntrins more and more III New
York Every year large increase IN the
amount Of the business done ~ Tie great banking III
situations and trust companies OF thi, city.
As. all Indication Of the many channels through
which investment money in this city runs, the follow
INK list OF disbursements by leading banks. banking
firms and trust companies, Is given, exclusive OF pay
neIts made by corporations a; local oncco
DISBu RSEMKNTS By PRIVATE FIRMS.
wINsLoW, LANIEE y co.
Allegheny Valley (KiNcr OvsOnJ 1905, sl1O OOOi On
1nnsu hamilton ana Dayton -. Sd3 COO do mort
gage 4as, 44J.OOO; Cleveland and Mahonus Valley o.
s37 800, Day and Micnlgan guaranteed 10y cincinnati
Hamilton and BAY ton sGGs75 GIand Rapids ana Indiana
Is guaranteed by Pennsylvania Railroad, 7l5'o'o DO
Mus6,goa Division gold 81 $500. Northern fachc
terminal. mortgage u, $4,000; Allen County lnd
ts AndcrsCn lnG, Gs Columbus, ma con'oidatd luhu
tns 5s CofaA Ind, is cicero Township Ind, is Dan
fort Ind 3, Grant County, Ind, u; DO D.; Hamilton
County Ind. - Hancock County Ind. IS indianapolis
2 Bus do g, do. - Lana No, 6s Louisiana National
Bank SewOrcans, senannual dividend per cent Stat'
~ Louisiana conso - Marion County, Ina. IS Marion
Ind B. Massilon and Cleveland RAILROAD registered D ;
peru Ind o. rItt>bue, Fort Wayne and Chicago Han
road first LoItcacc ~ A. DO second mortgage -
her, 4, Co special dividend IS per cent lIaNe;sc city
Haiiro,d COMPANY; Wheeling, West Va, 6,i Warren
County ina -, Iioquo- Township, IND, 81 Bachiord
County Ind o.: Marion. int o.; Cas- County, Ind o.
EUGENE KELLY co.
California Pacific Ar-t mortgage ies, $4,000.
KESsLEl; 60.
Central Raj Dad and Bank Georgia as sl14''o' Mar
and Georgia mortgage g., slGG2O; Savannah ana
Western first s. $4,000 Columbus ana Rome hIs' o''
ST oOo Toledo Columbus and Cincinnati 80 OJoi Cin'i
nat Hamilton and Dayton; Cincinnati, Hamilton ana
INDIANAPOLIS; Dayton aud Michigan
DEEXFI. MORGAN co.
cs,n.ake and ohio bonds Is, 4CS6i0; ClcNe-
land Cincinnati, Chicago and -. Louis; Chicago ana
tnd.anaoli, second mortgage =, s2i7i5 Bc foniaine
and indianapolis nr-t mortgage IS. $1,000 Cleveland
cincinnati Chicago and indianapolis general consolidated
a. sJG15O: C. V. and {. T., 100000 Whit Water b.
nr.t mortgage Is, $1,000 Peoria and Eastern Inda
b. and W. first preferred $50 GOO do and do, o. l. and
W first preferred 81 $3.50; Ptt'burg and Western Hist
mortgage 4s. slS7,O00.
JOHN PATTON IL co.
Chicago and Alton first mortgage Is. ss3 ,io5; St
Iouis jacksonville and Chicago second mortgage -,
s65so; do second mortgage converted Is Sli70; Du-
tuaue and Sioux City first mortgage IS S@05iOi North
western conso mortgage Gs 40 $50; Illinois steel Co.
debentures.
J. a. HARVEY.
Cleveland Akron and Columbus. first mortgage Gs.
$500 r. G. e.xnS e. 90
Colorado Midland equipment bonds 6s, 5000 NIL
xa,Lee Lake shore and Western equipment bonds. s.
a. 900. (, pauI Fastrr n Grand first 6s s33 GOO
d. equipment g. $4,000.
HATCH FOOTE
COL Shore and Hook. first mortgage 'S' soo'''o'
MORTON BLISS co.
Dcs Mones and Fort Dodge hfst mortgage fS F-','oV
d. first mortgage income guaranteed by Chc'2o' l'oN
Island and Pacific 3is, $4,000; do extended mortgage
AN. Kentucky Central, MdysVDe dlNlrl"h' -