New-York tribune., 1910-09-07
SURPRISES WITH DIVIDEND
lntercontinental Rubber Declares
Per Cent on Common.
THE ALDRiCnES HOLD STOCK
Retirement of Preferred Had
Been Expected by Street
Because of Previous Action.

The Grec5 5ors Of the Intercontinental Rub
Der Company at q meeting held yesterday
afternoon declared an initial dividend OF
1 per cent on the common stock. Sc, ,0S1. .GJo
Of which Is outstanding of the authorized
issue of $50 900 oao The direcors also de-
clered the usual quarterly dividend Of "a
Per cent on the preferred stock. and voted
TO retire. at par one-third. or S1,o59.0o0. Of
the S3.l5o,poo of that issue outstanding.
-Four months ago the directors voted 70
retire an equal amount of the preferred.
being one-fourth Of the total Of 81 2o0 go
then outst auding
The declaration Of z dividend on the com
mon stock came rather as a surprise to
Wall Street as it had been reported that
a majority Of the board favored the COM
plete retirement Of the preferred stock be
fore making any payment on the common
issue
Il was expressly stated that the dividend
On the common stock which is PAYABLE
November l was a dividend and the
officers of the company refused 70 say
wnst the future held out in the way Of
payments on the stock
We have declared an initial dividend Of
per cent on the common stock and that
is ali We have to say about it was the
answer Of one Of the directors and leading
officers Of the company when asked if the
I per cent rate was to be paid quarterly
hereafter
It is generally believed. however. that
once having begun the payment OF divi-
dends on the common stock the manage
nert intends TO keep on doing so regularly
hereafter as long as TIE earnings war
rant IL and the outlook in this direction
is understood TO be very bright.
At present the earnings Of the company
are running a the rate Of $35o.o00 9 month
over all expenses. and the company has
about g goa 900 cash in its treasury. Most
OF this cash. II is understood. viii be used
10 retire one-third Of the outstanding pre-
ferred stock. as voted by the directors yes
terday
Senator Nelson ". Aldrich. Of Rhode
Island. Is director and a large stock
holder Of the InterContinental Rubber Com
many In this connection he was attacked
recently by Senator Joseph /. Bristow, Of
Kansas who in some of his campaign
speeches charged that Senator Aldrich and
others had organized "a gigantic rubber
trust which absolutely controlled the sup
ply Of crude rubber. and that Senator
aldrich and his family had realized enoT-
nous profits from the increased tariff on
rubber which as chairman of the Senate
Committee on Finance he said the latter
mad been instrumental in bringing about.
Senator AIdrfch- in q letter addressed to
William r. Mckinley. Of Illinois, chairman
Of the Republican Congressional Committee.
denied all the charges made by Senator
Bristov which he characterized as absurd
n7isstaternents" ana declared that neither
the IntercontinentaI Rubber Company, him
self nor any member Of his family had
ever had any pecUniary interest as TO
whether the rates on manufactures Of
rubber were 50. 81 or SO per cent. or
whether crude rubber was on me free or
the dutiahle list
According 10 the latest list Of stock
holders Of the Tntercontinental Rubber Com
panv available. Senator AIdrich holds 25,0o9
shares Of the common stock and $50 shares
Of the preferred stock Of the corporation
Other large holders, according TO the list.
are Edward Brush, of the American Smelt-
ing and Refining Company. who is the
largest single holder. being credited with
70 0aa shares Of common stock; Thomas T,
RYAN. as. .500 common and .5s5 preferred;
H ? Whitney. - 80 common and 4,4721a
preferred. Bernard N. Baruch, ., 80 com
mon and 1. .4s21q preferred: c. K. G Bill
ings. I5,0h0 common and 314a12 preferred.
and Daniel Guggenheir7. Simon Guggen-
helm. : Cuggenheim. Isaac Guggen-
helm. Nurrv Cuggenheim and Paul Nor
ton each holding I0Ga9 shares Of common
and 2lHa shares OF preferred
Senator AIdrich's son. Edward B. AIdrich
who il ce-president and treasurer Of the
company. Is down for 62oo shares of the