, 1892-04-02
BETTER THAN BANKS
The Leading American Industrial
Declares Another Dividend.

i lfNNlG1AO LAIOlllSls O1E1QCIus
Am Unusual Opportunity for Wide
awake Investors to Secure shares
in Company whose stability
and Earning Power are Un-
equalled.
H. H. Warner & Co., limited, having
declared an interim dividend of 4 per cent
on the preferred and per cent on the
common stock, dividend checks will be
mailed to the American shareholders on
April 5th. by the Central Trust Company,
of "a Wall street.
In November last this company declared
/ a dividend Of per cent on the preferred
10 per cent on the common stock. The
end of their fiscal year will be July 31st.
In order to secure for our readers some
idea OF the amount of dividend that will
then be declared, our reporter called upon
Mr. Warner at 50 Broadway, as also to
ascertain anything further in regard to the
recent report that H. I'll. Warner & Co.
were about to double their common stock.
In reply to the scribe's question, Mr.. War
ner said:
tThe dividend which the company has
just declared is merely an interim one.
Such dividend is liable to be declared at
any time. The company has very large
reserve, and suppose the board of direct
ors are desirous of getting rid of some of
the cOmpany's accumulations. They
therefore, declared this dividend, regard
less Of tho ON tO bn dnn1arad at 10 oxilir1
ton of our fiscal year"
''Well, Mr.. Warner, what do you esti-
mate will be the amount of dividend the
company will pay at the close of the pres
ent fiscal year?"
II cannot give any exact figures, but, as
will have about 100000 to distribute at the
end OF this fiscal year, in addition to the
amount that will have been previously dis
tTibuted in the course of the wear, and
have every reason to believe that the next
dividend will be at the rate of, at least, 30
per cent on the common shares. In fact,
after paying the regular dividend of per
cent on the preferred stock, | believe that
the company will be able to pay, if they
choose, at the rate of 40 per cent on the
common stock; but the compan may CON
clude that it is wise to pay but, say, at the
rate of 80 per cent dividend on the common
stock and use a large amount Of their sur
O1QS w Gd1lGCl bIlG IclIldlulIlS QGD0uGQf6
bonds, which now amount to less than
$425, 900, over 100000 Of these debentures
having been cancelled last year, besides
paying liz per cent on the common stock.
You will see by these figures that the COM
pany will make even better showing this
year than ever before"
$50, Mr.. Warner, the prediction that was
made by you few days ago to the effect
that you believed the company would
shortly double its common shares is likely.
to come true sooner than you anticipated ?'
No, / cannot say that. / do believe,
though, that the capital stock Of the COM
mon shares will be doubled during the
next fiscal year, commencing August 4.
cannot well see what is to become of our
surplus, unless we pay extraordinarily
large dividends-Which / do not think
Wise-or double the common stock Of the
company. You see, our business is grow
ing better continually, and our common
shares only amount to 81, 100000. There is
a bright possibility Of being able to make
half as much as that in the future from the
Baking Powder alone, which we are now
putting upon the market in addition to our
present business, which would permit our
paying over SO per cent. dividends on the
common stock. These facts, figured in
connection with the regular profit which
has for years been derived from Warmers
Safe Cure and Warmers Safe yeast, almost
warrant the belief that we will earn net
profit of over 81 100000 per year. If so
this vast sum would all go to the common
shareholders, after pay ing the comparative
" small dividend of 8 per cent. on the pre-
ferred stock and the interest on the re-
naming debentures if not cancelled. With
the business continually improving and
its record since being capitalized into
company, OF net profit from Warmers
Safe Remedies, alone, of over million
dollars in two years, my prophecy becomes
almost reality"
Are you still selling your shares, Mr..
Warner2'
II shall sell few more shares to our pa
irons, at the rate of $75 piece for the COM
mon and $50 apiece for the preferred, the
par value of the shares being 410, or about
$50 EACH"
care you willing to continue to sell your
shares at this price, the purchasers to
have the dividend which has just been de-
clared of per cent. on the common and
per cent on the preferred ~
eyes, I shall sell few more shares up
to the time the dividend is actually paid,
at the prices have just given you, the pur-
chaser to have the dividend. After the
dividend shall have been paid [ do not ex-
pect to sell many more shares, but if I am
satisfied l can benefit the business by using
this means of advertising it, / shall sell a
few. but at an advanced price,
"Is there anything further you wish TO
say about the business 2"
F'No; there is nothing further to say,
and, in fact, I do not care to say anything.
[ am willing that the business should
speak for itself. I claim hat it has divi-
dend-paying record for the past twelve
years that very few, if any, business can
excel. When the revenue sure to result
from Warmers Safe Baking Powder is
added to that already derived from War
ner's Cure and Warmers Safe Yeast, | do
not see what there is to prevent it from be-
ing one of the largest diyidend-payers of
any legitimate business in this or any other
country"