New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-21
Relevant Facts
Pacific Mail Begins Common Diyi-

Pacific Mail Begins common DNi-
dends. Directors Of the Pacific Mail
Steamship Company yesterday declared
a dividend of 80 cents a share on the
common stock. payable July Is to stock
of record July = The official state
ment said: This dividend is paid upon
the original stock of the company, and
il will result in distribution or earn
ings TO stockholders numbering about
nine hundred. some of whom have helu
their stock since the early days OF the
company's activities, which began IN
1s4S. Although the company had been
a great Garner in its early years, botn
on the Panama route and in the emma
trade, for the last twenty-five years the
dividends paid were practically neg
ligible until it was taken over by the
present management in February. 1916.
| The new management have striven 20
make il truly representative Amerl-
can steamship line. and their efforts
have resulted in keeping the flag upon
the Pacific Ocean
Interborough Rapid Transit.-Gross
operating revenues Tor the month OF
Nav we're S3.51l 1876, an increase OF
$3.50 4S9 over the corresponding period
of 1916. Operating expenses and taxes
consumed S1,7l2.639 Of gross. leaving
q net operating income of Sl,796,55f,
vbich was increased to S1,s60,362 by
other income. The May surplus after
fixed charges was S836,582, a decrease
of S36.979. The Interborough carried
67.47l.43 passengers last month,
against 81 ,79S,i9l year ago.
Corn Products Refining.
with the sharp rise in the common
stock of this company Tuesday reports
were revived that directors were con-
sidering placing the issue on dlvl-
dend basis. IL was stated yesterday
that there are no prospects OF n dlVl-
dend on the common in the near tut
ure. No action can be taken until a
final decision in the dissolution suit Is
rendered. Judge Hand virtually en-
Joined the company from making any
distribution on the junior shares, al
though preferred dividends may be de.
clared and back dividends paid on II
directors deem such action advisable.
The arrearage on the preferred amounts
TO l-l6 per cent
Air Reduction Directors OF TINS
company Yesterday declared an initial
quarterly dividend of 81 share, plac-
ing the stock on a 81 annual basis.
There are 10000 shares of no par
value outstanding. This company was
organized little over a year ago by
Percy Rockefeller and other wal.
Street interests, and entered the neld
as a competitor Of the Linde Air Prod
ucts Company, which is controlled by
the Union Carbide Company. Negotia-
tions are now under way which may
result in the sale of the Air Reduction
Company's oxygen business TO the car
bide concern. This will leave the COM
pany free to develop its nitrogen bust
ness.
Nova Scotia Steel.-ln connection
with the declaration of dividend OF
2i2 per cent BY the directors of the
company, il was announced that upon
completion of n contemplated increase
i'm capital stock dividend of 20 per
cent will be distributed, payable No
vember 90 Directors have decided 20
issue 5000 900 common stock at par.
The right will be given 20 all share
holders of record June 30 to subscribe
pro rata. This issue has been under