The St. Louis Republic., 1900-08-03
Baltimore and Ohio Declared Divi-
dends on Preferred and
Common Stock.
FOLLOWED RECOMMENDATIONS.
Observance Of the Safety Ap-
pliance Law-lllinOis Central
and p, ID. & E.-Charter
FOrfeited-Notes.
REPUBLIC SPECIAL

REPUBLIC SPECIAL
| New York, Aug. 2.-Common interest cen
tered in the meeting Of the Baltimore and
Ohio Railroad directors this afternoon, be-
cause of the differing rurnors that have been
circulated regarding the long expected div
idend on the common stock. The meeting
| to-day, however, was apparently harmoni-
GUS. There were no dissenting votes when
the dividends on the preferred and common
stock were declared. The following official
statement was issued after the meeting:
1.-The Board of Directors unanimously
adopted the recommendation of the Execu-
tive Committee that dividend of per cent
on the preferred stock out of the net earn
ings of the second six months of the last
fiscal year shall be paid to stockholders or
record August 10 on September 4, and like
wise the recommendation that dividend OF
4 per cent on the common capital stock OF
the company be declared out Of the net
earnings of the company for the fiscal year
ended June 80, 1900. 2 per cent thereof pay
able on September 4, 1860, to the stockhold-
ers Of record at the closing Of the transfer
books on August Is, 1900. and the remaining
2 per cent on March !, 1901, to stockholders
of record at such date as the Board of Di-
rectors may direct: the books shall be closed
, for the payment thereof, and that the bal
ance Of surplus earnings remaining shall be
appropriated for improvements, betterments
and additions to the property and equip
ment made during the year ended June 80
1909. The transfer books close at 3 O'Clock
p. m on August Is, 1860, and reopen at 10
O clock a. m. on September 5, 19cO.''
Accompanying this announcement was a
condensed statement of the income account
of the Baltimore and Ohio system. Balti-
more and Ohio Southwestern included, for
the fiscal year ended June 80. follows:
Gross earnings, 2,02O349; operating ex-
penses, s27 ,53S, ,555; net, S14, 4S1 1874.
Miscellaneous income dncluding Schuyl-
kill River East Side Railroad net earnings,
81. .01O, 70; total, S1555 ,076 10.
For betterments, chargeable to income.
s1O0, COO: net income, s15452.076: 10.
Fixed charges, taxes and dividend. slo,-
705 900; balance. A747.016.1O
Full discount and commission on securi-
ties sold during the year, S293,S6o; surplus,
s4.4 III 10.
The fact that the second half Of the per
cent dividend ON the common stock Is made
payable next March gave rise to the query
whether the recent issue of s6,39s.9o0 of new
common stock Is to share in this dividend.
When this new stock was authorized this
provision was made:
THE voting trust certificates for the COM
mon stock. SO tc be sold, are not to be en-
titled to dividends if any are declared upon
the common stock for the year ending June
so. 1900
President Cowen said that inasmuch as
the entire per cent dividend just declared
on the common stock was payable out of
the earnings of the last fiscal year. the
new stock would not be entitled 20 share
in any part of H. Another officer of the
province of the directors, however, to de-
clare a special dividend on this new stock;
which would be completed, paid for and
become stock OF record prior to next March.