The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1909-01-23
Resumption of Dividends on the Stock
at the Rate of Five Per Cent
Per Annum Boosts
the Price.
BACKING WATER POWER
Three Members of the North American
Company Are Directors in the
keokuk and Hamilton
Water Power Co.

A New York dispatch to the st.
Louis Globe-Democrat, appearing in
this mornings issue, makes mention
of the resumption of dividends by the
North American company, which is
backin gthe keokuk and Hamilton Wa
ter Power company, which intends to
finance the local enterprise. The state
ment is one tnat shows the company
to be getting into fine financial con-
dition and the report is looked upon
with favor by Keokuk people who are
acquainted with the North American
company, and its interest in the Keo-
kuk water power. The report is as
follows:
NEW YORK, Jan. 22.-Resumption
Of dividends on the stock of the North
American company at the rate of 5
per cent per annum, 1t is learned from
trustworthy sources, is likely to be or
dered by the directors at their meet
ing next week.
There has been a good deal of dis
cussion as to whether the rate would
the chances favor the latter ngure, as
several of the most influential direc-
tors think that fro mthe earnings of
the company it would be justified in re-
Stunning payments at the old rate,
,, which was discontinued in July, 1907.
Since that time the earnings of the
company have been devoted to better
ments and liquidating the floating
/ debt of subsidiary concerns. The last
Of the obligations of this sort having
been cleared UP few months ago
through the sale of bonds of subsidiary
concerns, the company is now in po-
sition to again make disbursements to
stockholders.
AT the present time it is receiving
dividends on all its investments with
the exception of about s1S,O00,00O par
value of the common stock of the Uni
ted Railways Company of ST. Louis.
This represents an actual investment
on the part of the company of about
s4,50000O. that having been the cost
of the stock when it was purchased by
! the North American Company several
years ago giving 1t control of the st,
Louis street railway property
There was a violent advance in
North American Company stock on the
exchange today when it became known
! that the dividend rate was more apt
to be 5 per cent than 4 per cent as
heretofore has been generally assumed
would be the case.
The company controls the street rail
way and lighting systems in st. Louis
and Milwaukee s we'll as having prop
critics in other cities. During the past
year nose of these properties have
shown good earning capacity, not
withstanding the business depression.
Alanson d. Brown, president of the
Hamilton-Brown Shoe Sompany, and
David r. Francis, Jr., son of former
Gov. Francis, are reported to be slated
for positions on the directorv of the
United Railways Company at the elec-
ton to be held next Tuesday. The
men named are according to report,
!, to take the places of two out-of-order
directors, in pursuance of the recently
adopted policy of tle North American
Company. AT the stockholders meet
ing of the Laclede Gas Light Com
plan ylast week, James e. Smith and
D.. r. Calhoun were elected to replace
out-of-toWn directors.