The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-01-21
DIVIDENDS DEFAULTED
ON OVER $30O,OO0,0OO
MANY MILLIONS ON LISTED
BoNOS-RAlLRoAD SUI
FERED THE MOST.

The annual report of the comptroli-
err of the currency issued just before
tthe close of the year contain some
startling figures showing the losses
suffered by holders of bon IS and stocks
during 1914 The railroad companies
were by far the heaviest losers. Bet
ter things are hoped for the year 1915.
The following summary of the losses
! III dividends was published In the
Philadelphia Public Ledger just be-
! fore the close of the year.
From New York Exchange Alone.
Dividends have been passed this
year on $780,, $50 stocks listed ON
the New York stock exchange, and
there were on December l $S,S67769,-
$40 stocks on the exchange list which
lhad not paid a dividend during 1914.
In addition to this there were on the
same date 1922 ,2S5,231 bonds listed on
the exchange, the interest of which
was in default.
These figures were given in the an
nual report Of the comptroller Of the
currency having been supplied by the
authorities of the New York stock eX-
lchange On the stocks which passed
their dividends this year after making
one or more payments and those
on which no dividends at all
were paid this year. railroad shares
were far the most numerous. There
were $137 ,293,700 railroad stocks on
the exchange list which passed their
dividends this year after making at
least one payment, this being almost
lone half the total. Manufacturing and
industrial companies ianked next, with
$61 PAS, 500 stocks.
Railroads Hard Hit.
OF the 1885,, 760,840 stocks which
have paid no dividends in 1914, rail-
roads furnished 1897 453, 400, or prac-
tically so per cent. Manufacturing
and industrial companies came next,
with $793, 492, 700 No dividends are
now being paid on nearly one-third of
the $6543 ,618,135 railroad stocks listed
on the New York stock exchange. The
annual dividends on ,42S,871,035 list
ed railroad stocks which have not
passed their last dividends amounts to
1901, 35O,097, an 2verage rate Of 6S per
cent. The total annual dividends on
all stocks which are still making dis
tribution are $5s7 1912
The report shows that of the $922,-
2S5,2S1 bonds on which interest is in
default $674454, coo or more than two
thirds, are railroad issues. The an
nual interest on these defaulted rail-
d road bonds is $29,301, liz and the to-
tai defaulted interest of all bonds is
$41,03379S. There are $S,213,S74,75G
u listed railroad bonds. so that the pro-
lportion in default is about 81 per cent
: The total annual interest charges on
all listed railroad bonds arc $353,404,-
= 936 and the total annual interest
charge on all listed bonds was $685.
293,3O5,
Total Securities Listed.
The grand total of securities LISTED
on the New York stock exchange or
December 4, 1914 was $27, 4,62106+
of which $14,310,553,139 was bonds ant
$l3,0S4,O73,925 stocks. This means tina
over one-fourth the stocks and bonds
-, of all corporations in the United
- States were listed on the New Yorl
stock exchange, The annual report o
the commissioner of internal revenu
as of January l. 1914, gave the aggre
gate capital stock of all corporation
at $64, 4071 ,319,1S5, and their bonded o
other Indebtedness at $37, l36,2l5,0 9t
total of SOL, 2O7, 534,2S1.
The tables contained in the repor
Of the comptroller of the currene
showing the classification of bonds an
stocks listed on the New York stoc
exchange on December I, 1914, wit
details of defaulted bonds and stock
on which dividends We're passed at
given elsewhere,