The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-11-24
FINANCIAL NOTES.

| The strength in General Electric re-
fleets a belief that the company will
increase Its dividend rate shortly. The
company is doing a very large business
! at a satisfactory profit. 1t is earning
fully 20 per cent on its capital stock
this year, and perhaps more. BY rigor-
Gus writing down, it has it's asserts now
standing at conservative figures on its
books and is in first-class financial con-
dltion. Wall street is full of rumors
OF a coming stock dividend, and an ex-
ira cash dividend as we'll.
According to an official of the Ten
nessee Coal & Iron Company the net
surplus for the fiscal year applicable
to dividend purposes will be in the
neighborhood of 1880 Up to Nov. l,
the surplus is $S1s,751, an Increase OF
$500, 5ls. The January statement will
snow surplus Of 100000, with state
ments almost equally as good every
month afterwards for some time ia
come. Jan. 1 there will be accumulated
dividends on preferred stock amounting
to $500, 600
Warning was sent yesterday by the
secretary of state Of Virginia to New
York banks and brokers to look out
for forged bonds of the state of Vir-
ginia from an 1882 Issue, amounting to
between 100000 and $4,000, 900. The is
sue was cancelled after the order for
engraving had been awarded and full
filled. The number of forged bonds in
circulation is unknown.
New York bankers expect that Sat
urday's bank statement win be a good
one, but they say that the full effect
OF the bond purchases will not appear,
because the treasury is taking out OF
the banks about $500 10000 daily, for Gus
toms and taxes.
The Union Pacific annual report will
be out some time before the middle OF
next month. 1t will contain data
which will show that the company is
now earning at rate equal to some
thing like per cent on the common
stock.
The New York weekly bank state
ment will be published this week at the
usual hour Saturday, Notwithstanding
that the stock exchange and the sub
treasury will be closed that day.
The Michigan Telephone Company
made gain of so per cent ip its sub
scribers for the ten months ended Oct
81, and it is estimated that the com.
pany will gain 1900 subscribers during
the year.
The New York and Boston Stock ex.
changes will hold no session Saturday
the Gay OF the funeral OF the late vice
president of the United States
The Tamarack mine will erect a S25..
600 hospital for employees next season
Showing on conglomerate at the Ole
Colony remains very flattering. If the
conglomerate averages as rich through.
out, as when first cut by tunnel, bis
mine Is assure.
The Mass Co. has built 20 houses thiI
season and three times as many have
been erected in Mass City by private
parties. Old residents of Ontonagor
county have unbounded faith in Mass
Adventure, Michigan and Victoria, anC
are backing their faith with heavy
| cash investments in stock, real estate
and buildings.
The Isle Royale mas completed a four
| mile railroad connecting mine with mil
site Mill will be built next season
Work starting early IS possible mex
| spring.
There has been some talk of a dea
in Norfolk & Western stocks. Arrange
! ments have been made which will re
suit in increasing the roads business
! The company's figures show that it /!
| now earning surplus over dividends
on the preferred stock to the amount
of something like p. c. on the $780, 000,.
900 of common stock. 1t is fully expec.
ted that the years surplus will be al
| least as good as this, and it may easily
exceed 100000 after preferred divi.
dends.
Much Of the buying of Big -Four stool
came from houses with wires to thu
west. The earnings have been steadily
increasing this fall, giving promise o.
| a higher dividend basis