Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-06-20
The Fifth Avenues Large Earnings
Result in Surprising Dividend,
SHARES ARE ABOUT $4,000.
Distribution OF This Remarkable NV.
idend Involves $4,000 More Than
The Banks Capital stock.

stockholders OF the Fifth Avenue
Bank. one OF the most prominent OF
which Is Russell Sage, win receive a
dividend OF l25 per cent ON their hold
ings as a result OF q declaration made
last week
1t became known yesterday In Wall
street. says the New York Herald, that
the directors had, in. addition to the
regular quarterly dividend Of 25 per
cent declared a special dividend OF
100 per cent on the capital stock Of the
bank which amounts to 100000. Both
dividends are payable July /.
The meeting at which the dividends
We're declared was held at the bank on
Thursday last Il was explained that
the earnings of'the Institution for the
years 1900, 1901 and 1902 had been ex-
traordlnarily large, so that a declara-
tion OF such a large dividend was fully
warranted.
The distribution OF a dividend of 1925
per cent calls for the Payment of SIPS
VvV-an amount more than the capital
stock The stock sells close to $4,000
y snare. the last quotations being 49,.
40 bid and $4,000 asked. The directors
OF the bank INCLUDE some OF the strong
est financial interests In the city.
Only Few other banks In this city
make dividend distributions In any way
close 10 the heavy dividend disburse.
menl made by the Firth Avenue bank
Its yearly payment FOR some time has
been lOO per cent The Chemical Ma
tional bank exceeds this payment, as Il
regularly pays upon its $500 900 Of capt.
TAI stock 100 per cent in dividends each
year. The stock of the Chemical bank
Is quoted at A,235 bid ana 81 $50 asked.
Other local banks that pay big divi-
dends each year are the New York
County bank. with a capital stock OF
100000, which dlsburses so per cent,
and whose stock was last quoted at
1880 bid, with none offered. and the
Bank OF New Amsterdam, with q capt
tai stock OF 100000, which pays 80
per cent, and whose stock is quoted at
$685. bid and !575 asked.
The big Wall street banks have large
capitalDations and pay only compare
lively moderate dividends.
The National City bank has a capital
stock Of S35 600 and puys s per cent.
The First National bank. with a CAPT.
tai OF $4,000 900, on this smaller CAPT.
taltzation, pays 20 per cent.
The National Bank OF Commerce,
with sl0OOO0OO capital, pays s per cent.
Arrangements have been made for the
merger OF this bank with the Western
National bank of the United States,
which also has a capital OF $4,000 900.
The enlarged Bank Of Commerce Is to
have u capital stock OF $4,000 900
Several trust companies in the city
pay big yearly dividends, and tlek
stock sells at high figures. The Cen
tral Trust company leads, with divl-
dend Of 80 per cent paid on capital
stock OF 81 100000 It's stock is quoted
at $500 bid and s., $50 asked.
The United States Trust company
pays 80 per cent on capital OF $1,000
900. Its stock is quoted az 81 $50 bid
and sl675 asked J
Other big trust company dividend
Trust company, 40 per cent New York
Life Insurance and Trust company, 40
per cent Union Trust company, 40 per
cent. and New York Security and
Trust company, S2 per cent
The largest dividend payment ever
made by a banking institution In this
city was that declared by the First Ma
tional bank at the time Il increased
its capitalization to $l00OO,O0O II was
admitted by the banks officers that
this dividend was not less than 1000
per cent. and some estimates placed 1t
at as high as 1900 per cent.