New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-01
THE WALL-ST. SITUATION.
MISSOURI PACIFIC DIRECTORS MEET.
Nv corrn,s REyoRr-oxE DISSENTING VOTE
AGAINST THE PosTPoNEMENr OF
TIE DIVIDEND.


AGAINST THE PosTPoSEMENr OF
THE DIVIDEND.
Tho situatIou In Wall street has grown more quiet
and the stock market yesterday was dul out generauy
higher The failure OF a stock Exchange mouse inter-
csted in municipal securities cauSea oRN nipple III
speculatIon and the formal passing o; the missouri
pacific dividend was expected and influenced decline
only in that stock Further heavy shipments o. GOLD
from the other side announced anu the treasury
Department was commended for it, ACTON IN authorh-
ing the Assay ONCE TO pay mp to 10 per cent OF the
estimated value Of foreign coin or buihon imported
pendlng complete melting and asSaylhg Oh tne gold
rarorabe aroad reports helped 10 encourage brokers'
7h,,,, was a .uu meeting OF the board OF directors
Of the Missouri Pacific Company when lhe uNluehu
question came up only two members pcihs absent
There was no acrimonious discussion ana amer fresr
dent Jay Gould had submitted MS report ule post
ponement Of the quarterly dividend was voted with
nrIv ono dissenting volce-thst Of Russell sage. Mr..
sage neaded for q dividend of IL per cent for the
purpose OF protecting savings banks ana CHARITABLE IN
stitutions which cannot hold non dividend paying So
curies but the III his eyes were not ahayzed py
any grapccxpert from the Board oil heaIU' "cVIse D.
Gould said after the meeting:
The action was conservative and i no more IMAM
other cOmpanies have taken at times. The state
meDt submitted convinced the directors that IL would
he advisable 10 defer dividends. The Missouri racine
T. a nice clean property, and we want to keep 1t So
To increase the floating debt by paying the dividend
would be unvise But things look wen al inc vest
and | think time Will vlndicate our prudence.
# VA, learned Yesterday that some of tile stock
holders of Missouri Pacific considering the question
OF an appeal to some house of recognized financial stand
ing lor future protection. Tie idea Is suggested th
Drexe Morgan Co. be requested to issue an Invitation
for proxies to used at the next aahuai elecuoh rs
seems best for the interest OF sokhodes' MT Uouiu
has never held an absolute majority OF the stock Of
and if A..
largely reduced his former holdings Dy concentrating
the scattered interest outside OF the Gould ownership
power might be accumulated which could enforce It's de
mand for frequent exhibits OF the company CONDITION
even IL no immediate change III management couu DC
effected One ground for the movement would he the
fact that the deficit shown in Mr. Gouds statement was
made BY charging the cost of refunding bonds IN one
quarter instead OF distributing It over an enure year.
The stockholders do not favor the payment OF unearned
dividends but there is general feeling OF ndghauo al
the manner in which the dividend MAS plopO9eu 10 Oc
passed without consultation By the directors and at the
failure of the management t. prepare STOCKHOLDERS lor
disappointment by periodical statements OF earnings
which most railroad companies no" MAKE IL pos
sible according TO the statements OF some Missouri
Pacific stockholders, that if Mr. Morgan Is not asked 10
cooperate movement for reform soma OF tile large
trust companies interested in the general financial wei
fare may be solicited combine for tile purpose OF pro
tccting investors The men who are considering tns
movement
ganizaton as an example Of what may be accomplished
by solidarity Of interests.
The statement submitted by Jay could 10 the
Missouri Pacific directors follows
To the Directors of the Missouri Pacific Railway Com
Herewith is tho auditors statement for the last nine
months of the current year, september esuhaleu'
Gross earnings. ~ 20 ~
Operating CApeises ''-'-''' ''',-o
cnu,,rs .............. ~, ga, al Is
nit,S.ippds received ................ s206,S55 40
! Rentals received ..-.............-. l-0'o'o o.
Sieemng.car earnings j'f19 O.
SunGry amounts -''''V Q" yo- ION ~
r., ........ -. p. r., 81 ~ p
Ioti Interest 0S5, sG7 80
Taxes 92op99'ooI -
/ i,rutalS ~
Suudry amounts 1ofUp-- %
heiunuins ~ "o''s'7 ----- :, 73l .404 SO
n.e,,. ........... ............... $50 1913 36
Iron Mountain oo,- -, 20
iOSs oX lenses OBSERVATION-DISCLOSURES. 1,7GO02l 81
e, ... 20. 20. 25G 800 IL
| Dhiqrnds received. ............... StV36 "
sundry amounts -'''''''''''''''' 1o--o- 421Gs 81
! o,,,, .......... - @9s 55S is
Interest payment. COS, l29 80
| Taxes ...........................'-. LIS 90
Rentals 81, - 40 ~ ~
i'e"'dins T. " j. '''4' 800 237 o5
| nooi+ ......... 500 G7s 81
net Gedclt before payment OF Dividend G79G5s .
Dividends .'-.-.'.'' olooJ' -
sI6I9 273 Sc