The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1901-01-16
IIONS IN Dividends
|but $l75,OOO,OOO Was Distributed
at the Beginning Of the Year.
THE LARGEST SUM EVER KNOWN

Counting Out Savings Bank DePositors, II
Is Estimated That the Greatest Part
Went Into the Hands Of Few-A
Memorable Day in the History Of the
C,untry-Records Of Past Years.
New York City.-Wednesday. Janu-
ary Q, 1901. will be memorable in the
history of. the United States, for it was
the day for the payment OF interest
and dividends by the great industrial
and financial corporations Of the coun-
try. and these payments We're the
largest ever made. There are more
corporations than there ere year
ago, more stockholders and bondhold-
ers. and therefore more persons to
whom payments were made. AS the
United States is the most prosperous.
financially and commercially, OF any
country in the world, and as the year
1900 was the most prosperous In the
country's history. the sum distributed
on Wednesday was larger than that
ever before put In circulation In any
country on a single day.
1t is estimated that SITS, ,000,0 900 was
disbursed on that day, in all Of the n
nancial centres Of the country. 1t is
estimated that this large sum found
Its way into the pockets Of about H.
100000 persons.
AS a matter of fact. however. II the
100000 Of savings banks depositors
be taken out. whose aggregate wealth
Is givec at S2449.547, 1856, and whose
share Of this SITE, 5,OO0.CO was not far
from SS6.0OOO00, the rest. or about
SS9,OOO,OOO, was distributed among
comparatively few people. There are
4O47 men and women in this country
who are estimated o'be worth $l.OOO.-
900 or more. and large part OF the
remaining $S9,OO0,OO0 was divided up
among these millionaires. 1t Is said
that. il the portion Of the $S9,OOO.O0O
which was distributed among these
possessors Of large wealth were di-
ided among them equally, each one
would receive something like $4,000.
It is also said that John D. Rockefeller
alone received about $1,OOO,OO0 for his
New Years present. This statement,
however, is simply based on a Wall
street guess.
BY far the largest part Of the S175.-
100000 was paid out, of course, In
this city. Those who should know say
that not far from 140.0O0,0OO was
disbursed in New York City. This was
about $1O,O00,0O0 more than was paid
out on January 2. 1900. The disburse-
ments Of that day were regarded as
almost fabulous, and, up to that time.
were the largest ever known. The
payments on account Of interest
amounted to S66,OO6,06 and the pay
ments on account Of dividends amount
ed to 4,747,995. There were other
Interest and dividend payments which
had to be estimated, making the esti-
mated total disbursements for Janu.
ary 2, 1900, about $130,000,00O. The
January disbursements for 1899 were
$sS, 661 ,399; for 1898. S79, 9,201, OPS; for
1897. $7s,3S1, 800, and for 1896, S71,-
158.29O.
The news from Boston is that the
January disbursements there amount
ed to $2O,671, ,64S, an increase Of $685..
40, as compared with January, 1900.
Baltimore, Philadelphia, Chicago. Gin.
cinnati and San Francisco are the
other cities where the majority of the
rest Of the payments were made. and
reports from each Of these places
state that there was a large increase
over the disbursements Of year ago.