The morning call., 1892-04-06
BETTER THAN BANKS,
The Leading American Indus.
trial Declares Another
Dividend.

An Unusual Opportunity for wideawake
Investors to Secure Shares In COM
pany Whose Stability and Earning
Power Are Unequaied.
ii. w. Warner & Co., Limited, having declared
an Interim dividend OF per cent on the pre-.
Ierred and per cent on the common stock, dlvi-
dend checks will be mailed To the American
shareholders on April by the Central Trust
Company OF ga Wall street.
In November last this comDany declared a
aiViashd OF per cent Oh the preferred and D
per cent on the common stock. The end OF their
hscal year Will be July 81. In order 10 secure
for our readers some idea OF the amount OF
dividend that viii then be declared our Teuorter
called upon MIR. Warner at so Broadway as
also to ascertain anything further In regard TO
the recent report that Ii. w. Warner & Co,
were about 10 double their common stock. In
reply 10 the seribe's question, Mr.. Warner said:
"The dividend which the company has just de.
clared is merely an Interim oM. Such diyi-
dend Is liable TO be declared al any time. The
company has very large reserve, and suppose
The board OF directors are DESTROYS OF getting rid
OF some OF the cOmpaDys Accommodations. They,
Therefore. declared this dividend. regardless OF
The one 10 be declared at the expiration or our
fiscal year."
We'll. Mr.. Warner, what do you estimate will
be the amount Of dividend the company will pay
at the close OF the present fiscal year?"
Il cannot give any exact figures. bur, as near
as 1 can approximate. the company Will have
about 100000 To distribute at the end OF this
hscal year IN addition 10 the amount that will
have been previously distributed In the course of
the year. and have every reason 10 believe that
Tue next dividend viii be at The rate OF, az least,
80 per cent on the common shares. In fact. afer
paying the regular dividend Of per cent on the
preferred stock believe that the company VIII
be able TO pay, II they choose at the rate OF 40
per cent on the common stock; but the company
may conclude that II Is wise TO pay bur, say, at
the rate OF 80 per cent dividend on the common
stock and use large amount OF their surplus TO
cancel the remaining debeDture bonds, which now
amount TO less than s425, 900, over 100000 of
these debentuTes having been Cancelled last
year, besides paying 17!2 per cent on The CON-
mon stock. You Will see by these figures that
the company Will make even a better showing
this year than ever before"
80, MIR. Warner, the prediction that was
made by you few days ago TO the effect that
you believed the company would shortly double
lis common shares Is likely 10 come true sooner
than you anticipated"
mo. / cannot say that. do believe, though
that the capital stock OF the common shares Will
be doubled during the next fiscal year, COM
mencing August 1. cannot we'll see what is 10
become OF our surplus. unless we pay eXtraOrdi-
narily large diyldends-which l do not thiuk
wise-or double the common stock OF the COM
pany. You see, cur business Is growing better
continually, and our common shares only amount
to 81 100000. There is bright possibility Of
being able 10 make half as much as that In the
future from the BakIng Powder alone, which we
are now putting upon the market 10 addition 10
our present business, which would permit our
paying over 90 per cent dividends on the COM
with the regular profit which has for years been
derived from Warmers Sale Cure ana Warmers
Safe Yeast, almost warrant the belief that We
viii earn net profit OF over 81 ,00O, 900 per
year. IL so, this vast sum would all go 10 the
common Shareholders. after paying the compare.
lively small dividend of per cent on the pre-
ferred stock and the interest on the remaining
debentureS II not Cancelled. With che business
continually improving and its record since being
capitalized into a company, OF a net prOht from
Warmers Safe Remedies alone, of over a million
dollars in two years, my prophecy becomes
almost a reality"
Are you still selling your shares, Mr.. War
nei?"
Il shall sell few more shares to our patrons
at the rate OF SIS apiece for the common and $50
shares being GlO, OF about $50 EACH"
Are you willing 10 continue TO sell your
shares at this price, the purchasers 10 have the
dividend which has just be- declared OF 8 per
cent on the common aud per cent on the pre-
feTred? ~
Eyes, | shall sell few more shares I'D to The
lime the dividend Is actually raid, al the prices
l have Just given you, the purchasers TO have
the dividend. Alter the dividend shall have
been paid L do not expect TO sell many more
shares. but II l am satisfied | eau ben fit the
business by using THIS means OF advertising IL,
shall sell few, but at an advanced price"
us there anything further you wish 10 say
about the business?"
mo; there is nothing further 10 say, and, In
fact, do not care TO say anything. AIN willing
claim that IL has dividend paying record for
The past II years that very few, II any. busi-
nesses can excel. W hen the revenue sure TO re-
suit from Warmers Safe Baking Powder is added
to that already derived from Warmers Safe Cure
aud Warmers Safe Yeast, 1 do not see what
largest divldend-payers of any legitimate busI-
ness In this or any other country" 1t