Morning journal and courier., 1894-06-11
THE WEEKLY JOURNAL
 IS PUBLISHED EVERY THuRspAY MORNING. Single Copies s cents.
TWO.


 The stockholders of the New York, New Haven and Hartford Railroad company have had quarterly dividend of 2f per cent. from their gold mine so long that they will hardly know how to feel with only 9. But they will, of course, recognize the fact that the reduction is wise and de-
 manded by the situation. Indeed, 1t Is plain that the reduction might wisely have been made before this. Some railroads
 pay dividends by borrowing money or sell ing bonds, but nobody in this region wants to see the New York, New Haven and Hartford Railroad company pursue that policy, which is short sighted and In the end | disastrous. Therefore all concerned will feel that 1t is good management to adapt the rate of dividend to the earnings. Will the dividend go back to ten per cent, will 1t stay at eight, or will 1t be less than eight in timei These are hard quss- tions to answer, or even to guess intelli- gently about. The stockholders In the New York, New Haven and Hartford rail- road company have had fat thing. It has been so persistsntly and protnbersnt- ly fat that it has been almost impossible to imagine that a time would ever come when 1t would be any leaner. Yet the time has come, and the fstness is noticeably, even If only temporarily, reduced. It may
 bs found that the company will follow, though perhaps afar of, the general ten dency of railroad companies in this country, which seems to be to-
 wards an increase of the mileage and decrease in the dividends. This
 tendency has had such control in many of the companies that they are now msgnia- cent in mileage and minus in dividends. Extension of dominion was one of the chief causes of the downfall of old Rome. It has also been one of the chief causes of the downfall in the prices of railroad stocks and in the rate of dividends there on. The New York, New Haven and Hartford Railroad company has recently greatly extended it's dominion. It has made some gorgeous extra expenditures. And it has had the general business depression to contend with. In the future 1t will perhaps have to still further extend Its do- minion in order to keep up to the require ments of power and grandeur. It may have more large extra expenses. Big rail- road systems often do. It may possibly have more competition than 1t has had from steam roads, and 1t will certainly have some from the electric roads which are rapidly reaching all over Its territory, linking themselves together and getting ready, we suppose, to carry freight as we'll as passengers And it Is also to be re- membered that inc great road may not always have as able and honest manage ment as 1t hss had and now has. It is possible that "fnsncieriDR" and speculs- tion may in time bs popular among the directors.
 For these and other reasons, therefore, we think 1t possible that the stockholders of the New York, New Haven and Hartford
 Railroad company may not Alwsys con- tinue to bs the star railroad stockholders
 of the country. If they do their situation will indeed be envisble, for half of what they get, even at the reduced rate, Is con-
 sidered fair interest on money. And the old stockholders wouldn't really lose any \ thing even If their stock should hnslly meet the fate that some other once proud railroad stocks have met in being shorn
 of dividends, falling In prics to Is or co | and then being assessed.