New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-01
DIVIDEND and INTEREST PiYMEN7S.
LARGE INCREASE IN JANUARY pIsBURsE-
MENTs OVER PREVIOUS YEARS.

LARGE INCREASE IN JANUARY pIsBURsE-
MENTs OVER PREVIOUS YEARS.
The disbursements for dividends and interest In
this city In January will doubtless exceed tie amount
EVER paid before IN corresponding months. Probably
The record for the whole country Will be broken.
There have been only a few relapses into n0ndiv
dend paying ranks among the railroad corporations
and the growth Of the railway system alone supplies
an enormous addition To the fund, tat poured into
the hands OF stockholders and b0ndhOldeTs In the
case OF new railways the question Of dividends Is
usually one OF the future. hut even counting the
payment OF interest alone. the Year 1892 added
heavy sum 10 the annual disbursements. II Is est
mated by railway authorities that there were 1000
miles OF railroad built In the United States last
year. moderate estimate wond place the cost
at 100000 q mile, represented In nearly all Instances
by bond Issues. This would give new bonded
Indebtedness the railways alone OF $12OOOO.OOO.
With the of money that has prevailed, the In
stances few where per cent interest went with
the mortgages. Taking TIE average rate at l."
per cent the increased fixed charges would be about
$o4OOOOO. All Of this amount Is not TO be dsbur.d
in January, for interest is generally paid semi-annu
ally, and allowance must be made for the completion
OF a large part OF the mileage in the later
months OF the year. still 1t Is probable that some
| thing Ike 50, 100000 OF money will come into
| the Lands OF tondholders In the way Of January
interest from new railway mileage alone.
| The interest and dividend payments win suffer
reduction through the defaults the Richmond Ter
mlnal railroad system. This Is TIE most important
deficiency OF the year. The principal railroad which
has ceased dividend payments Is the Northern Pdcc.
In whose preferred stock dividends are at present
declared. Nor have there been any important In
| creases In dividends railroad stock In the year.
Tie losses In these directions however, counter
| balanced by the larger volume OF stock which
| the Western Union Telegraph Company will pay It's
next dividend, by small increases here and there,
and by the additional expenditures OF interest on new
| railroad mileage. There will also be gain In the
amount OF payments city bank stocks in New
York, and in the returns some OF the industrial
stocks like Dstinng and Cattle Feeding and American
Cotton OIL. Tie disbursements In this city are sure
TO be heavily In Of those In January year
ago, while taking the country q whole there Will
be an enormous increase In the Interest payments
| On municipal bonds and the bonds Of the Indus
trial nterprlses-waterworks. gasw0rks, etc-wllcl
have been multiplied at tremendous rate throughout
| the United States.
The January Interest and dividend period is no.
| relatively important when compared with 0,he;
periods OF similar disbursements was the Gaze
The tendency Of the makers Of mortgages or new
stocks has been fix the date OF payment OF interest
| or profit to effect better distribution OF dis
bursements through the year. But while there are
| comparatively larger payments to inves ors on the
| llrSt Gays OF tepru1rN or March OF April thiH "cTe
made In former years, the beginning of the new year
continues TO stand the most important date for the
division OF profits the payment OF interest on most
enterprises In which capital has been fixed. New
York City naturally leads AS the centre where the
heaviest payment OF January Obligations IL made.
Is impossible to reach the amount with any gree OF
cxactness, but authorities the subject estimate the
| payments In January for the whole country at
Sl3O. 600, 900 to $50. 900 600
hero fpXy tanit I'm thp ELF
some coupons 70 cash next month. The principal
| payments through balss however, are made at the
Bank Of Commerce. the Chase National the Fourth
| National, the American Exchange ard the First Ma
lona banks. The grenter amount OF the OF the dis
lursements is made through the great trust com
| panes, like the Farmers, Loan and Trust Company.
| The Union Trust COMPANY. the Mercantile Trust Com
pany and the Central Trust Company. The leading
banking houses that agents for corporations which
| disbnrse funds IN January are Wlnelow, Laner d
| Co.. Barring. Mag0nn X Co., ii. II. Holins Co..
Drexel, Morgan K Co. and koIntze Brothers.