The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-01-21
BETHLEHEM PAYS
80 P. G. ON COMMON
First Dividend Comes With
Wage Advance for 10000
Workers at Plants.
STOCK TAKES A SLUMP

War Streets chief "war bride"
Bethlehem Steel common. became a divi-
dend paying stock yesterday. The di-
rectors Of the corporation declared a 80
per cent. dividend on the conrnon stock.
payable in quarterly instalments Of IA
per cent each. The declaration of "A 30
per cent. dividend on the $4,000. 900
commo stock means that the
will disburse In dividends during the
present year approximate $4,000, 600.
In spite of the large sums which the
company. the largest manufactures Of
war munitions in the United States. is
known to he earning. the announcement
OF tho dividend came as somewhat of a
surprise 70 the financial district. as II
has been tho policy of Charles NJ.
Schwab. head OF the company. to put
every cent over preferred dividends back
into the property.
Ever since the Bethlehem Steel Cor
rorstion entered into the manufacture
OF w1f materials for the Allies Wall
Sired h g flooded with rumors re-
eardfng the tremendous profits OF the
corporation from its war orders. In
some circles the profits have been csti-
~ 'N'tsS VI " BSl Slt
on the common stock.
In spite of the new dividend the stock
sold OF yesterday. When the announce
ment was made the stock was selling at
al, as compared with a close Of ass on
wednesday. 1t Immediately jumped to
&1S, but declined a few moments later
% 465. "A loss of 90 points from the pre-
wseus close. Later in the day 1t declined
70 $50. II closed at 479. a loss Of s
points from Wednesdays final price.
SeDe Spectators Disappointed.
Speculative Wall Street professed TO
be greatly disappointed that the dividend
was not larger or that some tremendous
announcement regarding war orders did
accompany the declaration of the yiivi-
dend. Conservative Wall Street, how
ever. expressed itself as believing that
30 per cent. was a pretty good initial
dividend even for the stock of a ompany
Possessing such an earning power as
Bethlehem Steel.
The dividend on the ommon is pay
able on the following dates: April | to
holders OF record OF March Is, July I
to holders of record OF June 10. October
! 10 holders OF record OF september 16
and January 2. 1917. to holders OF
record Of December Is. 1916.
The directors also declared the regu-
INT pre1efrcn dividend or per cent,
payable in instruments OF ia per cent.
on the same dates on which the common
dividend is ps vable.
In connection with the declaration Of a
no per cent. dividend on the COMMON
etock came the announcement OF a 10
per cent. Increase in wages to the I'M
skilled laborers employed by the cor
poration. Just how large an Increase
this would mean in the company's payroll
could not he learned. but MIR. Schwab
said that IL would affect approximately
10000. In granting this increase Of 10
pcr cent. Mr.. Schwab is following the
precedent sci by the United states steel
CORPORATION a Few weeks ago.
Mr.. Schwab declined tn talk about war
orders and earnings. Regarding the
earnings he said that 1t would not he
rair to make any statement to the pub
lie until he had first informed his stock
holders. II IS believed that the annual
report viii be issued some time in March.
The declaration Of the initial dividend
on the common stock OF the Bethlehem
corporation was made the occasion for
n sort of holiday At the corporations
offices. Al. of the officials fingered about
the offices TIL late in the afternoon,
talking over the disbursement and chat
'rg about the company's business They
appeared TO he greatly pleased by the
announcement OF the dividend.