Evening star., 1931-12-16
BY CHARLES r. SPEARE.
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK, December l6-Without
yielding to the temptation of the IAN
tastic returns that are given today or
numerous stocks and bonds, the invcs-
tor may find in the list OF securities
many that are earning their dividends
or their interest by wide margin and
at the same time provide ar annual in
come at current quotations that should
prove highly gratifying to their hold
ers when the present storm blows over
Taking first railroad stocks in which
there is still high degree OF vitality
in spite of the current prejudice against
them. there may be selected such ones
as Atchison common, Chesapeake &
Ohio. Delaware & Hudson, Norfolk &
Western common and Union Pacific
common. If it is conceded that earn
ings dictate more conservative policy
by the Atchison directors and prompts
them next month to reduce their rate
from $40 to ST a share, this stock on
the latter basis would today yield 8i2 per
cent Chesapeake & Ohio has been
covering its $3.50 a share dividend by
a good margin There is no. present
thought of changing the dividend. Cur
rently it yields about 10 per cent. Dela-
ware & Hudson is in an enViable posi-
ton. owing to its earnings other than
from rail operations and its per cent
dividend looks reasonably permanent
Quoted around S71 a share. it yields
better than 1924 per cent If it is as
sumed that the extra dividend on Nor
folk & Western is TO be discontinued
hut that the regular $40 a share divi-
dend be maintained, as it is being
carred BY liberal margin this stock
al todov's price would yield 834 pei
cent. Union Pacific common. like
A, h.-~l common. may be readjustet
f~orl a SO - 81 basis. If the latter
t vCu'd r:~'d ct tho present price bet
ter than ga per cent.
Public Utilities Stocks.
The outstanding public utility stock
and the one held by the Target rum,
& Telegraph. There have been per.
sistcrt rumors before each dividcrc
meeting that the rate would be reduced
This. in spite of the fact that earning,
continue to cover dividend requirement.
by small margin. Action on the next
dividend will be taken in the first part
Of 1882. At this weeks low price, the
stock is yielding 7l2 per cent com
pared with the 3 per cent return which
vas attr2 ctive to great many pur-
chasers Of securities in 1929
Consolidated Gas, next to American
Telephone g. Telegraph, is one of tbs
most widely held public utility shares
Its return has always been low com
pared with many other stocks. Al
present it is 674 per cent, or about twice
the time money rate The high Yields
among the public utilities are in the
preferred shares, which have been
heavily sold recently for some mysteri-
Gus reason. With the better issues in
this group, yields range from to over
10 per cent.
Among the industrial stocks repre-
sonting companies that either have had
less effect from the depression or ar:
supported by surplus funds permitting
them to continue dividends. although
not earned are to be found such per
centage yields as 81 on American Can
612 on Genera. Electric, 1872 on Gen
eral Motors common, 10 on General
Foods, over 13 on Nash Motors, about
u on National Dairy Products, nearly
8l2 on American Tobacco, about 81, or
Interna tional Business Machine, over s
on Standard Oil Of California, 10 on
Socony-Vacuum, better than 6a4 or