Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1892-03-31
BETTER THAN BANKS.
The LEADING AMERICAN INDUSTRIAL
DECLARES ANOTHER DIVIDEND.



H.H. warner q Co Limited. having declared
81 interim diyidene Of per ceal Oh the pre-
ferrea aad per eenf. % the eemmen sleek.
cisieena sheeks vsii be a2ilsd 10 he Aaeri-
can Shareholders on April by the csnirA
Trust CoDpsny. Of No "a ali street.
In November last tnis Company declared
diyiavaa OF per cent. on the preferred sna 10
per cent OIL The common stee2. TIE sna VI
their nscai year vii he July 81. In order 70
secure for our readers some idea OF the amount
Of dividend that will thea be ace sse4. car
repo ter called upon Mr.. Warner. at No. -
b osdwzy; - also to ascertain snsth ne
further IN regard 10 the receat report thss IL.
II. Warner L Go. were about 10 dous . their
common stock. In reply 10 the scriee's cues
ton. VI. Wsfner said:
The disidsnd which the Company has just
declared Is merely an interim sne. such .
dividend Is liable 10 be declared ~ any time,
The COMPANY has very large reserve. and
suppose the Beard OF Directors arc dsslfous Of
getting rid Of some Of tae Cemaanys seeaRa-
lstionx They. therefore. declared this disi-
dend, rcgardis - OF the one to be declared ~
the expiration OF our fseag year.
We'll. Mr.. Warner. waat DO you estimate
will be the amount Of tue dividend the Com.
psny viii par 1T the close OF the present fiscal
year,"
II cannot give any exact fgurss. but as
uesr as eah approximate. tue COMPANY Will
have about ssoju0j - aisiri9 ste 81 the cad oi
TITS ascai year. IN addition 10 the ameaai
that Will have besn previously distributed In
the course of the year. AID have every fexsea
10 believe thai the next disldend wsii bs al the
rate OF. at least ~ per eenI. on the eominon
shares. Ir fact. after paying The regular
dividend OF per cent. on tie iseitrsea STOCK.
/ b. eve that the Company vii be stls 10 ay.
II they choose. AT the rate OF 40 per cent. on
the common Stock but the Company may
conclude taat II is wise 10 pay bur. say. AZ The
rate OF 81 per cent dlsidend Oh ice commoa
stock aud USE large amour. OF their surplus
10 cancel the remaining dsbsatars boadz.
which now amount 10 lts ~ than "a 5.cto. ever
sS00.coo OF th,ss deben,uges having lsca
concealed last year. besides paying ~ per
cent on the common st ,cS. loa will Sec by
these iisurrs that the Company VIII make
even a better shown. this year than ever be
fore."
so. Mr.. Warner. the prediction thai was
made by you few days ago 10 the effect that
you believed the Company would shortly
double its common shares is likely 10 eone
true sooner than .oa anticipated"
that the capital stock OF c common shares
will be doubled during the next fiscal year
commencing August l. cannot well bee What
is 10 become OF our surplus. unless We par ex-
traordinarily large d,videacs-whlch do mol
think wse-or double The common stock o
& company. You see. oar business is arrow
ing better continually. ana our common
shares only amount to sl.sv,.00o. There is q
hxtss s.fr hal
as much rs that la the fur ure frcm the Bak
ing POWDER alone. which We are now Iuiting
upon the market in addition TO our present
business. whica would permit our paying over
81 per cent. dividends on the common stock
These facts. figured in connection with IN,
regu ar profit which has for years been derived
from Warmers safe Cure aud Warmers sat,
Yeast. always warrant the belief that we will
earn II net profit Of over sl.0Jo.00 pr year
IL so ID vast sum would all 20 10 the common
shareholders. after paying the comparatively
small diyidead of 8 per cent on the rrc.efred
stock aud the interest on tie remaining de-
bentufes Il not cancelled. With the business
continually improving aud Its record since
being capitalized into . company. OF a me-
profit from Warner sale Remedies. alone. o.
over a million dollars In two years. m.
prophecy pecomes almost reality"
Are you still selling your shares. Nc. War
ner?"
II shall sell few moro shares TO our Pat
rons at the rate Of SIS apiece for the common
and $50 apiece fer the preferred. the pal
value of.the shares being so. or about 81
each.''
Are you willing TO continue 10 sell youi
shares at thsprice. the purchasers TO have TIT
dividend which has just beea declared OF 5 pc
| cent. on the commoa and per cent. on ths
| preierred?"
Yes, shall sell a few more shares up q
| the tine the dividend is actually paid. at th'
| prices have Just given you. the purchasers q
| have the dividend. After tie dividend shall
have been paid. do not ex sect - sell man.
more shares. bur II am satisfied can beneh'
the business By using this means Of adver
| tising IT. shall sell few. but at an advances
| price"
rs there anything further you wich to sal
about the BUSH cs,s"
No: there is nothing further 10 say. and. II
| fact. / do not care ~ say any Ing. l an
| willing that the business shousa speak 10
| Itself. claim that IL has a iiyieend pasin.
record for the ast ~ Give We that very tea
| II any, businesses can excel. When Tia
revenue sure to result from Warmers sat
| Baking Powder II ADDED 10 that alread,
| derived from Warmers safe Cure sna Warner
| safe Yeast. I do not So what there is to pre-
| vent it from being one oil tire largest dividend
| payers Of sny legitimate business In this o
any other country"