The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-02
MILLIONS
ARE PAID in
DIVIDENDS
Payments Of $l,5Oo,0OO by
Public Service on Sub
Sidiary Securities.
HELPS LOCAL CONDITION
Restoration of Confidence a Re.
suIt..Money Easier and the
Outlook Is Pronounced by
Financiers to Be Most
Promising.
HELPS LOCAL CONDITION

What should prove healthy tonic
in the financial situation, which is now
in q state of assuring convalescency,
is the fact that today large local cor
porations declared dividends amount
ing to, approximately, $2,500,000.
While that much additional money
will not be put into local circulation,
q great deal of cash will be paid to
those who are in a position to clip
coupons, and by them will be spent in
trade or reinvested. All the securities
on which dividends are declared are
not locally owned, but the bulk of
them are.
Regular days for dividend payments
are in June and January, and a month
hence several million dollars, in addi-
ton to what was added to local wealth
today, will be paid out in the way of
interest on securities.
The payments today had the effect
of further restoring confidence. The
result was that money was less tight,
and the market for negotiable paper
brighter and much more assuring.
A healthy tone prevailed, and the
outlook is pronounced by local flnanz
ciers to be in every respect promising.
The Public Service Corporation bore
the brunt of today's premium and divi-
dend paying, having to redeem coupons
amounting to $1,500,000.
The Essex County National Bank Is
the only large corporation outside OF
the Public Service that took part, pay
ing out its usual quarterly dividend of
per cent. on $1,0O0,0 capital stock.
Several smaller concerns declared dlvi-
dends, which probably amounted to
about 100000 all told
The principal payments today were as
follows:
BONDS
Consolidated Traction Company 5
per cent. semi-annal, on $1,000, 900. $4,000
Orange and Passaic Valley Railway
5 per cent semi-annual, on s5sOOo0. 14.75
Elizabeth, Plainfield and Central
sl,l0o.0oO -. Observation-Disclosures. 5000
ton per cent, semi-annual, ON
$o5O,OO0 .......,...;...... 375o
cent, semi-annual, ON $6,000,0. .00N 1901
United Electric Company 4 per
Newark Consolidated Gas 3 per cent,
semi-annual. on 100000. ,.....,.,.. $4,000
Consumers Light, Heat aud Power
on 100000 :.:...s'..,.......,,..;:.., 2,oco
Gas and Electric Company Of Ber-
nual, on si,a2866o. ,....,......s....., 3s,o75
STOCKS.
Essex and Hudson Gals Company, 31a
per cent, on $1,000, 0,000...........,,.. 227 500
Hudson County Gas Company, 2ls
per cent, on $10,500 900. ....4........ 262. 800
Paterson and Passaic Gas and Elec
trio Company, 1% per cent. on
S0iUO,VpV ---......-+-.... ...'.s.'''s'. ott0VJ
South Jersey Gas, Electric and Trac
tlon Company, 3la per cent. on
Sb,UOOOO ...............-..-..-.s. -lV,u0J
Somerset, Union and MiddescX
Lighting Company, "a OF per cent.
on N,0oO,000 ACKNOWLEDGEMENTS. 1870
Essex County National Bank, per
cent. on SI,OOO.OVO .....- -.-...-........ 4V,VJO
and small corporations
Sestimateu) ......-..t...+-....-...... lOUiOV0
These proved enough to give the banks
and stock brokers a busy day. The glad
smile was bestowed on the face of many
securities owners and many who have
heretofore been inclined TO doubt the local
financial situation were relieved Of all fears.
1t Is anticipated that much of this money
will Mt once be put into additional local
securities which are selling at prices re-
low