The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1905-04-04
RAILROAD NOTES.

Delaware, Lackawanna and Western
stock, as a result of the q per cent.
quarterly divided declared on Thurs
day, comes into the position of the
only railroad stock listed and actively
dealt in on the Stock Exchange which
pays yearly dividends Of 10 per cent
Harlem stock also pays 10 per cent.
but it is a guaranteed issue, and there
fore not fairly to be compared with
Lackawanna, although the price of
the two are nearly the same, Harlem
being quoted at 4O2, bid, and LackaA
wanna selling at 1914, and having lately
reached 400.
The dividend is both less and more
than Wall street expected. Last De-
cember's 10 per cent. extra dividend
made total II per cent. payment for
that year, and the Stock Exchange
had some idea of other disbursements
of that size. Against this was the
pinion of those who deemed that af-
ter paying that "bonus,' the old 7
per cent. rate would be continued.
With a 10 per cent dividend and at
this seasons price, the stock nets
something like q per cenr. on the in
vestment. II
The question Of another g bonus" is
complicated with the great expendi-
ture contemplated for new work on
the road. The great Improvements to
the Pennsylvania's New York termi-
nails are bound to force proportionate
betterments on it's competitors, and
the Lackawanna has recognized this
in its announcement of new Hobo
ken terminal, and the formation of a
separate company, formed professedly,
at least, to construct tunnels under
the North River. Evening Post.
! An addition is being made to the
trackage Of the Hanover sand pit on
the Morristown & Erie. Tracks will
be laid down the grade from the pit
to a new connection with the main
line further east, so that loaded cars
can be run by gravity to the lower
switch saving much time and drilling.
The Scranton, (Pa). "Tribune" is
responsible for the story that the
Lackawanna will at once add to the
number of tracks in that vicinity,
widen the Nay Aug tunnel for four
tracks and eventually lay two addi-
tional tracks all the way from Hobo
ken to Buffalo
p. A. Towner, night ticket agent at
the Lackawanna station, has resigned
to take a position near his home in
New York State. He is succeeded by
Mr.. Hinchman who has been working
nights in the Morristown tower. The
latter is succeeded by VIM. Poplet, a
former towerman.
An accident to a locomotive bound
east at Newark on Monday morning
delayed east-bound traffic for some
time. Conductor Dargayel's train was
held up for fifty minutes.
The third of the new Lackawanna
ferry boats, the Binghampton'' has
arrived at Hoboken and last week de-
feated the West Shore boats in run
up the river.
The local freight business Of the
Morristown 3 Erie showed an advance
Of about hundred per cent. for the
month of March over the month of
February.
Conductor John Pierce, who for
many years was taggage-master with
j. r. George has been promoted to the
position Of general yard master at
Hoboken.
r. B. jolly has the poles distributed
along the Morristown 8 Erie Railroad
from Morristown to Whippany and
will start setting the poles next week.
1t is said when The present. cars are
turned out no more freight cars will
be repaired at the Lackawanna car
shops at Dover.