The Providence news. (Providence [R.I.]) 1891-1906, 1902-04-29
Report That Consolidated Will
Pay 10 instead Of 8 Per Cent
OFFICERS PROFESS IGNORANCE.
Claim Made That Increase In Dlvldsnds
VIII lnducs Small Holders 10 Retain
Their Stock = 444 Stockholders Here

New Haven. Conn. April 29.--There was
a report in financial circles In this city
Yesterday that at the June meeting OF the
directors of the New York. New Haven a
Hartford railroad the dividend rate OF
this company would be increased from
TO 10 per cent The report was current
in several brokerage offices.
II was stated by an authority who has
a good knowledge OF railroad affairs that
the above action was positively intended
and would probably act as an inducement
TO the small holders of New Haven stock.
who If given the fiattering offers that are
expected within the next day would 9TH
erwise sell out.
This story was advanced later by other
prominent men in the financial field who
were seen by a reporter. and IL was even
intimated that this Story originated from
a statement made by a director OF the
company.
Inquiry among the railroad OFFICIALS
elected the usual statements that IL such
a step was intended they were unaware
OF IL.
The dividend paid by the New Havep
road was reduced from 10 to per cent
about PA years ago. and the report that
given much credAnce.
During all the rise in the New Ha-
ven stock the debenture bonds, which are
convertible into stock next April, have
until yesterday remained inactive. The
debentures are now paying per cent. The
quotation on the debentures yesterday
was 224 bid. 2i0 asked. figures that are
certainly wide enough apart 10 suit any
one
There are many people who console
themselves with the belief that IL would
he. afl far
poration 10 secure stock enough OF the
New Haven road TO have "A controlling
interest of the same. The belief. how
ever. Is amusing to those who know the
power OF the Pennsylvania system. Presi-
dent Hall was asked regarding this and
with a smile he replied: Anything Is
possible I'm this business IL you have
money enough"
STOCK HOLDINGS.
The -rise-ef New York. New Haven &
Hartford railroad shares. accompanied by
rumors OF purchases for control. has
aroused interest I'm the matter OF locality
and amount OF the stockholdings OF the
company.
The last official statement on the sub
iect was made in the annual report OF the
company In 1900. which gave the geo.
graphical distribution OF stockholders as
follows: In Massachusetts. AGO stock
holders holding .259 shares; in Connect-
cut, 25S stockholders with 1898 shares. !.
in New York, l412 stockholders with 16S, ,S9i
shares. I'm Rhode Island 44f stockholders
with 22.962 shares. and in other states 74l
stockholders with 23,420 shares. Total
9i05 stockholders with 546.s54 shares.
Since the foregoing official statement
was made an officer of the company has
said that the drift OF transfers of stock
has been somewhat toward New York.
In general the 1853 300 OF debentures
convertible next April into 1892 shares
have been distributed like the stockhold-
ings. but somewhat more concentrated.
The 10 insurance companies OF Hartford
hold 1884 shares of the stock and de-
bentures calling for 94e9 shares more. The
largest single holding of shares I'm this
city is 2300. belonging TO an estate.