The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1906-06-29
People Owning Stock In the
Public Service Corpora
tion Expected a Dividend
July !
NOW THE DATE is UNCERTAIN
PRESIDENT McCARTER DENIES
HAVING MADE ANY PROMISES,
BUT ADDS THAT THERE May
BE A DIVIDEND NEXT MONTH
Special to 'rhe Jersey City News. .

ing STOCK OF the PuDllc Service Corpora
tion expect that dividend will be de-
clared and made payable on July 1, or
some time during that month, because
President N. McCarter said in report to
the directors about four months ago that
the financial condition of the corporation
was so satisfactory that they would be
justified in declaring dividend at an
early date. An influential director has
since said to different men that diyid-
end of " or 2 per cent would be paid
some time next month.
|. President McCarter said yesterday to
a reporter that he could not say whether
dividend would be declared next month.
He was told that stockholders had the
impression that dividend would be
paid on July and he said
s'Well, they didn't get the impression
from me-"
DO the directors meet the last Tues
day in July" he was asked.
Il can't say now." he replied.
A meeting was held last Tuesday and
the question of declaring a dividend next
month was discussed. Some of the di-
roators favored nav;np dividend even
though it were small one, but others
ora,od +bat # would he wise TO <wait
a+laas s;x months longer. The direc-
+ors will moor +ba last Tuesday in July,
and ao6n;ta action on the dividend may
bo taken then si
Ianos d Drson bor1, -+raa snrar of P,1b-
Ia Sonr;oa so;a 5bat - his oniniou it
,,o,,ld not h. w;so 70 declare dividend
on +bo stooL naxt month for once a diyi-
dand 1vas na;d II sbouId be continued
+hnoeon / os +, favor of waiting
eon ~ months moro He said some "a
tba directors believed as he did, but
tba,- +borob+ dividend should be paid
~ +ba non who had one hundred cents
on the dollar for the stock, and they con-
tended that if the corporation could af-
ford to pay something a dividend should
be paid at an early date.
''The corporation made money last
year and has surplus after paying all
expenses said Treasurer Dusenberry,
'but if dividend were paid next month
it would be very small one. My per-
sonal view is that it would be wise TO
wait a little longer before paying any
dividend, for once dividend is paid we
should continue it, and therefore enough
money should be in the treasury to guar
antee future payments. The men VINO
paid par for the stock-and they all did,
for as treasurer received the money,
and therefore know-deserve, eonsidera-
tion, and many of them say dividend
should be paid soon But | think it
would be better for them to wait for say
SIX months,
Mr.. Dusenberry said that his idea was
that the corporation should use a large
percentage of its surplus earnings in i'm
proving the trolley tracks and cars.
There We're Twenty-Five miles of track to
be relaid this year, and the corporation
had over $50 mile sof track in New Jer-
sey. Mr. Dusenberry said he wanted to
see the tracks relaid on concrete base,
as were the Broad street tracks from the
Morris Canal bridge north to the Laeka-
wanna Railroad station. The work
would have to be done in installments,
certain number of miles each year, but
when it was all finished the value Of the
trolley plants would be greatly increased,