The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-06-03
CENTRAL's DIVIDEND YEARS.
The Semi-Annuals and Animals Since
1A42

1943.
The dividend question is an interesting
one TO the Central railroad stockholders. II
is an exceptional occurrence in the history
Of the Central railroad that June or De-
cember passes without the payment of a
dividend. The Central was paying a 4 per
cent. semt-annual dividend when Gen.
Alexander was first elected president In the
fall OF 1882. and when Capt. Raoul sue
ceeded him in January, 1883, the same
semi annual dividend OF per cent. was
declared in June following.
The semt-annual dividends varied during
Capt. Raoups administration from 81 to "a
per share, as follows: June, 1888, 81; De-
December. 1884, So; June, 1885, December,
1885, and June. 1886, 81; December 1856, 81.
Gen. Alexander succeeded Capt. Raoul in
January, 1887, and during the four years of
his administration up TO 1891 semi-annual
dividends were declared. The Richmond
and Danville took the road in 1891 and paid
two dividends Of 50 so per share, according
to the agreement Of the lease. in June and
December, 1891.
The only year the Central railroad has
ever passed in its history without paying
dividend since it became establ shed as rail
road was IN 1865. Cashier Cunningham of
the Central Railroad Bank has u record of
every dividend paid by the Central railroad
since 1S43. 1t is an interesting record and
shows that the Central railroad has been
paying institution, and that, as usual
thing, the dividends have been large. At
the beginning Of the Central's history the
dividends of course were small,
being under 50 per share semi-annually.
In 1S47 and 1913 semi-annual dividen Is of
81 were. paid. in 1919 the June dividend
was So and the December dividend SO 80.
In fha AEYrf1 de- . . 4
spectively. In 1855 the June dividend was
81 and the December dividend s., and be-
sides a stock dividend Of So per share was
declared The road was making money
about that time From December, 1885, to
Jnne, 1859, the semi-annual dividends were
IS per share. and in December 1859 divi-
dend Of $40 per share was declared In
June and December. 1860, dividends of So
per share were declared, and in March, 1861,
stock dividend Of $12 was declared. This
was In United States currency.
Heavy dividends In confederate money
were paid from 1851 to 1864, the highest
dividend being Sl8 per share In 1864 There
was lapse in 1855, but in 1866 the road
began declaring dividends again, and from
December, 1896, to December, 1872. regular
semi-annual dividends were declared of s.
dividend OF 81 was declared. In june. 1873,
and again in 1874 a dividend Of "a per
share was declared, there being no dividend
recorded for December. 1873.
In December, 1877, the dividend fell to
81 80 and continued at that figure until
June, 1880, when dividend of SO per share
was declared. In December. 1880, the
dividend was So 80, and in June, 1881, "a.
On July l, 1881, dividend of $40 per
share in certificates Of indebtedness was
paid to the stockholders. The explanation
of this is that large amount of money had
accumulated in the treasury of the road
which it was proposed to divide among the
stockholders 1t was decided, however, to
issue certificates OF indebtedness to
each stockholder In proportion
to the amount to which
he would be entitled in the division and to
keep the money for the purposes of the
road. The certificates OF Indebtedness bore
6 per cent. interest and amounted to the
Central borrowing its own money at that
per cent. Money at that time was bringing
about per cent. Seuli-annual dividends of
"a per share were declared until June, 1888.
They fell after that until they reached So
per share in 1885 and 1885. They then rose
to "a per share semi-annually until 1891 =,
when the Richmond and Danville paid 50 50
according 20 contract.
II the Centrars history repeats itself its
stockholders will have no reason to regret
the existing depression which my be sue
ceeded by heavy dividends within few
years.