The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-07-18
DISTRIBUTED.
Large Corporations Number Their
sharehoIders by Thousands.

New York, July 18-Inquiry among
some of the largest corporations which
do business in this country disclOses the
fact that the quarterly and senl-an-
nual distribution of dividends are par
ticipated in by a vast and steady in
creasing army of shareholders. In no
case is it shown that concentration of
control diminishes the number of share
holders in great business enterprises.
Several years before he died William
H. Vanderbilt sold about $4,000, 900
worth Of the stock of the New York
Central road, because, as he then said,
he believed it to be good policy to have
railroad stocks as widely distributed as
possible. Some of the big industrial
corporal tons have increased the num-
Der of their shareholders rs and 100 per
cent within a few years.
The Pennsylvania Railroad company
has the largest number of shareholders
OF any corporation in this country.
There are about 30, 900 holders of Penn
sylvania railroad stock, which is an
increase of nearly 1000 within five
years. These holders are scattered over
the United States and Europe, and since
1898 they have participated annually in
the distribution of $685., $50, being 8 per
cent on the outstanding capital stock
of 1929 ,305, 600.
The stock of the Western Union Teie-
graph company and its leased lines is
distributed among 13,438, according to
the latest official record. The share
holders Os the Western Union Tele-
ago they numbered 8,345. Since Decem-
Der, 1887, this company has paid diVi-
dends at the rate of 8 per cent unin-
terruptedly.
Although large blocks of Western IN
ion stock are held by George J. Gould
and his brothers and sisters, Russell
Sage, John Jacob Aston, John T. Terry,
and other men of wealth, many thOuS-
andS of shares are distributed among
persons of moderate means. About one
half of the stockholders are women, and
the names of a large proportion of these
have been on the cOmpanyS books for
20 years and more.
When President Havemeyer of the
American Sugar Refining company
publicly asserted a few days ago that
the stock of that corporation was held
stated a fact which the books of the
company substantiate. The number of
stockholders is nearer 1900 than II, 600,
and it is increasing constantly. Only
few years ago there were but 5000
shareholders.
The New York, New Haven and Hart
ford Railroad company pays dividends
to 8,135 shareholders. Each quarter a
dividend of 2 per cent on a capitaliZa-
ton of SAL 612, 900 is distributed. This
makes a quarterly output in dividends
by the consolidated company $685., 240.
In June last there were 1916 holders
of the shares of stock Of the Delaware
and Hudson Canal company
Although the New Y Ork Central rail-
road system is commonly regarded as
the property of the VaHderbiltS, its
ownership is actually vested in more
than $4,000 persons, who are widely
scattered throughout the country. On
the stock ledger of the New Y orl1 Cen
trail and Hudson River railroad proper
there appear the names Of 1,247 holders
of stock Each Of these shareholders
receives quarterly a dividend of 1 per
cent on his or her portion Of the $780,
DOC, 900 of stock.