New-York tribune., 1907-12-19
ROADS VOTE DIVIDENDS.
PENN. co. RAISES RATES.
FaoOrabIe Action also by N. 7. C.,
Reading and Lehigh VaIIeu.

The action OF the directors of the New York
Central, the Panhandle the Reading and the Je-
high Valley in declaring regular dividends and
that Of the directors OF the Pennsylvania Com
rany In increasing its dividend rate from 6 N :
Per cent. came as pleasant surprise TO Wall
Street yesterday, and the stock market which had
shown downward tendency. recovered sharply
The directors OF the Pennsylvania COMPANY
which operates sll the Pennsylvania Railroad lines
west Of Pittsbur, have increased the serni-annual
dividend from TO per cent making per cent
for the current year. Payments viii be made on
December 81. The entire capital stock ot the Penn
sylvania Company, amounting to $4,000 eco is
owned by the PENNSYLVANIA Railroad, and the L.
creased dividend additional $500 900 avail
able for the latter company In view of the in
crease in the Pennsylvania's Company's rate II
is not thought likely the directors OF the Pennsyl
Vsnia Railroad VIII make a reduction from its
: per basis at the next dividend period. de-
spite the declining tendency in net earnings.
The directors Of the Pittsburg. Cincinnati Chica-
20 & ST. Louis, also controlled 10y the PennsyI-
vsnia Railroad. have declared the regular semi
annual dividend of "a per cent the preferred
stock and 2 per cent the common.
The Reading directors have declared the usual
ser--annual dividend OF per cent the common
stock and the Lehigh Valley directors the regular
semi annual dividend OF per cent on the common
stock and an extra dividend Of per cent, the same
,S declared at the last preceding dividend period
The regular serni-annuaI dividend Of : per cent
~sss declared On The preferred.
The directors Of the New York Central & Hudson
River Railroad have declared the regular quarterly
dividend OF IL per cent the conlpanys out
standing stock, amounting TO s7sea2oo calling for
se67s $50. Earnings Of the company for the current
quarter December results estimated in part, show
an increase In gross Of s2S4,9p an increase IN
cperatIng expenses Of S1.zl2.7oa and decrease in
net Of 81 ISL soc comparison being made with the
corresponding period in 1906. Other income in
creased ss4S7e0 owing 10 higher dividends on Secu-
rites Of subsidiary companies. reducing the total
LET decrease IL income S219.1oo The company :
oN-n earnings were not large enough TO pay the
..,a--erly dividend, and i there had not been
substantial gain in other income there would have
been deficit after dividends Of s66l.Se2 AS it was
the surplus amounted to only s2S4Soo
For the twelve months Of the year, December
estimated in part gross earnings increased S66-3-
so and net earnings decreased s275S,3oo operating
expenses having increased s93s2.70o Other income
II The yezr S356S Soo and surplus after
dividends decreased s. S06.400 the surplus amount
ing 10 only SOS 3ba II there had not been an in
crease on income from Investments there would
Rave been a deficit for the year after the per
cent dividends Of more than 100000 For the
Twelve months gross earnings were Ss,4132)o3 ex-
lenses 100: net earnings, s0 5o0 and other
income sll276oo0 Charges and taxes were s23.SlS.-
90 leaving available 81 80 the dividends Of
sou. 800 Il viii be seen from these figures that
with the large increase in income from IN
vestments the margin for dividends was small.
Earnings OF the Lake Shore for the six months
ending December g. December estimated in part
show an increase in gross of 1.491 400 and de-
in net OF sld5,s0b The surplus after dIvi-
dends was S324,5)e decrease OF tU8.le0 from the
Eane ZINE last year. Tor the twelve months gross
earnings increased g. zZc 800 net earnings
sg7z.zoa and surplus after dividends decreased
81 1sS SD In these figures are included the per
cent extra dividend, payable IN January. which
declared Tuesday The final surplus was SS76.lGo-
NIichigar Central for the SIX months shows an
in gross Of SLoss,Gyl, increase in net OF
.SSs 20 and a s.,rulus Of Sa3 $40 against a deficit
in the corresponding time last year $3.50
the twelve months surplus dividends, includ
ing the extra ? per cent, payable in January. Is
estimated at se3 an increase OF Sos 400 over 1906