New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-16

A SMALLER DIVIDEND By THE CENTRAL"
sop THE FIRST TIME SINCE 1889 THE STOCK Is
NOW on A 4 PER CENT BAsIs-A TALK
WITH CHAUNCEY NJ. DEPEW
MI. ,,.,-s q, the New-York Central and Hud
.or ptvsr Railroad Company met yesterday ana
declared a dividend out Of the earnings OF Ie cur
rent quarter CT per cent This is reducuon oi =
per cent and places the stock on per cent WV
dendpavine basis for the first time since IS'' inc
dividends on the stock of this company In previous
wears were as follows: From 1869 10 1854 inclusive
nor cent. in 1SS5 go per cent; from 1876 TO 1881
inclusive per cent in 1890 and 1877, "a per cent
in 1892 "a per cent and in 1879 and 1872 per cent
rbe ac,ion OF the directors expected on ac-
count OF the decrease in earnings ana 'ii' ~"
did not suffer any great loss on account Oh the
duced dividend. The statement Of the COMPANY ioI
the last quarter shows. after paying dividends'
de0ci, Of siea COO The detailed statement OF the conn
nanv viii be found in the financial column; ossod
TSe number Of railroads which have either passei
or reduced their dividends In the ast wv evstems
is large and includes some OF the largeS. Of the
IN the country The following are some oI,r r,I
principal roads besides the nS CsH The Demo
cratic administration has been IN po%er rer cent
York New-Haven and Hartford from ron V ~ P CHI
caeo Milwaukee and ST. Paul Chicago ROCK Wbanl
ana rafC Axe st. E Paul p a1a R1D'e
and Quincy, Northern Central, t tCaenrn
"i Cha Hn NJ Depew president Of The xS
Central Railroad in speaking OF TINS togara and
o.
the New York Central Railroad IN par,cVW Wal cen
my hava been connected with the New 1oIK Seii III
tra Railroad for thirty years ana hate no,, IN
nat lime seen the equal of the last three months
in the way OF business depression. II appea arb cd
nnd We have now passed the turning point aho are
u ,he right road to business prosperity The New
York Central Railroad has declared lts 41ai 's, -
dividend stock and per cent was me, Ine The
0uoted That was a surprise TO many 70 Wn9m e,e
sStablitv and general dividends or the rosa %et :
known The only explanation or TINS diSloenu y,
raj the decrease In earnings did not warrant the
usual dividend. A raroad is like any otner puS,-
dnstry noted on every side the railroad gets IL
onota OF business. When business is dead the ral!-
road suffers with the merchant and the manulac-
turer ., ~. y,onnu
said: "In anticipation of the stock divdeno NS s,i
York Central stock has been unusually active N az
street lately Some seemed to have antcipated ina
the dividend would not equal former ones WIZ
say in connection with this dividend that me MaIGi
Quarter Is the poorest one in the year TOT ia
road The New-York Central has really never ~
recent hard years earned dividend OF IA PEI
cent in the March quarter although such a oN !.
dend has been quoted for that quarter. lot Ile
reason Mat the outlook justified IT, In TINS nstac.
II was thought best TO drop quarter OF toan
and be on the safe side. feel confident that ousi.
ness will steadily improve now We nave az las'
shaken free from clinging do-nothlng congress
The dlstrust and fear generated by thelr pseuaI
ideas Of legislation have passed away; ana We Will
all hope to see business brighten up