The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-14
MONEY TO BE TURNED LOOSE.
SOUTHWESTERN STOCKHOLDERS
GET THEIR DIVIDEND TO-DAY.


More Than 500, 900 TO he Distributed
by the Citizens Bank-It VIII BE
Paid This Morning Between . and
L O'clOck-AbOut $3.50 of This
Amount TO he Paid Out in savannah
the Balance TO Go to other Cities.
The Augusta and savannah Divi-
dend 10 BE Paid Tomorrow.
The Citizens Bank Of Savannah is ready
to turn loose on the community this morn
ing something like $4,000 as dividends
on Southwestern railroad stock. The
bank viii begin paying out the money this
morning at the rate of $3.50 on each share,
so being paid as back dividends prior to
the termination Of the receivership and
80 cents per share being paid by the new
company from the time it assumed charge
up to Jan. l.
At the rate OF $3.50 per share there will
be just $780, $3.50 to distribute as this
amount IS to be distributed on 81. 81 shares.
The Citizens Bank and the Central Geor-
gia Bank Of Macon are the financial agents
for the Southwestern railroad and these
two Institutions will have charge Of the
paying out Of all the dividends. 1t will be
seen. however, that by far the largest
amount is to be distributed from Savan-
nah.
The amount to be distributed by the
Citizens Bank, however. will not all be
turned loose right in Savannah. Savan-
nahians will get about $225,0OO TO $4,000
Of the amount, while the balance will go
to New York. Augusta, Athens. Atlanta
and other places. New York comes next
TO Savannah in the amount of the stock
held. and about Sl5O,OOO of the dividends
will go to that city. The other cities named
hold much smaller amounts.
The distribution Of the dividends Will
begin at O'Clock this morning and VIII
last until l O'Clock, being continued OF
has been completed. There are some very
large holders of Southwestern stock in
Savannah, some Of them owning SO or
looked on all along as one of the best
stocks on the market, and some people
have bought IL to the exclusion OF every
thing else. Bids OF 81 without the divi-
dend are made for II now right along,
but there Is little or none of it to be Sc
cured at that figure. II is quoted now
as high as 80. The Citizens Bank has
posted a circular with regard to the pay
ment of the dividend beginning at
O'Clock this morning and continuing until
1 o'clock. The circular is as follows:
Savannah Ga, Jan. IL. lS96.-Fhe divi-
dend of 5000 per share recently declared
by the directors on the STOCK or the SOUTH
western Railroad Company viii be paid
by the Citizens Bank of Savannah on and
after this date, between a. m. and p. m.
to stockholders Of record in the Savannah
list only.
Stockholders collecting through agents
or attorneys must do so upon written or
ders, general or special, 10 be filed and
left with the bank.
Executors, administrators, trustees and
guardians except In cases where the stock
stands In their names as such, must pre-
sent proper documents showing their au-
thority to collect in such capacities. This
rule will be rigidly enforced. George c.
Freeman, Cashier.
The Augusta and Savannah railroad
also recently declared a semi-annual div
idend of Pc per cent. on its capital stock
of $l,022. 800 and this money will be pay
able tomorrow to stockholders of record,
at the banking house of Messrs. Hull &
Lathrop. This means that $25,5 72. 80 more
will be distributed about the same time
and almost all of this amount is to be paid
out right in this section.