The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-04-02
BETTER THAN BANKS
The Leading American Industrial
Declares Another Dividend.
An Unusual Opportunity for Wide-Awake
Investors to Secure Shares in Com
pany Whose Stability and Earn
ing Power Are Unequalled.

lug OHCI 11lO OuOduN-tS1s
HI Warner & Co, Limited, having
declared an interim dividend of 4 per cent
on the preferred and 5 per cent. on Tue
common stock, dividend checks VIII DC
mailed to the American shareholders on
April by the Central Trust company Oh
81 Wall street.
In November last this company declared
a dividend of per cent. on the preferred
and 10 per cent. on the common stock Inc
| end of their fiscal year will be j uIy 81. In
| order to secure for our readers some iuea
of the amount of dividend that Will then
| be declared, our reporter called upon Mr.
| Warner, at 80 Broadway, rs also to ascer-
tam anything further in regard TO the re
cent report that H. H. Warner 81 Co. were
about to double their common stock In
reply to the scribe's question, Mr.. Warner
said:
THE 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 or
the company's accumuiations. They,
therefore, declared this dividend regard-
| less of the one TO be declared at the expir-
alton 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?"
81 cannot give any exact figures, but, as
near as | can approximate, the company
will have about S400,0 900 to distribute at
the end of this fiscal year, in addition to
the amount that will have been previously
distributed in the course Of the year, 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. La 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 company may conclude 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 or thelr
surplus TO cancel the remaining debenture
bonds which now amount to less than
S425, 900. over $500 600 of these debentures
having been cancelled last year, besides
paving 17l% per cent on the common stock.
You viii see by these figures that the
company 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 yon believed the company
would shortly double its common shares
is likely to come true sooner than you an-
ticipated."
NO, i cannot say that. I do believe
though, that the capital stock of the COM
mon shares will be doubled during the
next fiscal year, commencing August l.
| canuot we'll see what IS to become
of our surplus, unless we pay ex-
traordinarily large dividends-which [ do
not think wise or double the common
stock of the company. You see, our bus
ness is growing better continually. and
ovr common shares only amount TO 81, 'O0,-
600. There is bright possibility OF being
able to make half us much as that IN the
future from the baking powder alone,
which We are now putting upon the
market in addition to our present busi-
ness, 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 a net profit of over
81 600. GOO per wear. If so this vast sum
would all 90 to the common shareholders,
after paying The comparatively small divI-
depd of per cent on the preferred stock
and the interest on the remaining de-
bentures if not cancelled With the
busi ness continually improving and
its record since being capital
lied into company, of net profit from
81 ,00O, 600 in two years. my prophecy be-
comes almost a reality.
Are you still selling Jour shares, Mr..
Warner"
Il shall sell few more shares to our
patrons, at the rate OF SO apiece for the
common and $50 apiece Tor the preferred.
the par value of the shares being 80 or
about $50 each"
Are you willing to continue to sell
your shares at this price, the purchasers
TO have the dividend which has just been
declared of per cent On The common and
4 per cent. on the preferred"
Yes, | shall sell few more shares up
to the time the dividend is actually paid,
at the prices / have just given you, the
purchasers to have the dividend. After
the dividend shall have been paid | do
not expect to sell many more shares, but If
| am satisfied | can benefit the business by
using this means of advertising it, L shall
sell a few, bat at an advanced price"
is there anything further you wish to
say about the business?
mo; there is nothing further to say, and. !
in fact, do not care TO say anything I
am willing that the business should speak
for itself | claim that il has "a dividend
paying record for the past twelve years
that very few, if any, businesses can excel
When the revenue sure to result from
Warmers Safe Baking Powder is added to
that already derived from Warmers Safe
Cure and Warmers Safe Yeast. | do not
see what there is to prevent it from being
one of the largest divideud-payers OF any
legitimate business in this or any other
country"