Evening star., 1936-11-20
PAY AND DIVIDEND
FLOW INCREASING
Industrial Melon Cuttinu
Points Toward Billion
Dollar Mark.
B, the Associated Press.


NEW YORK, November 2o.-The
year-end flow of dividends to share
holders and increased pay and bonuses
to workers in American industry
pointed toward the 81 ,o0o, 900 900 mark
yesterday.
With more than 40 companies add
ing about s3O.OOO,OOO to the dividend
total and thousands of additional
workers participating in wage and
bonus gains, tabulations extending over
the past month indicated:
Dividend disbursements aggrega1ng
$500 100000 by ITO companies. most
of 1t payable before Christmas. in the
biggest year-end downpour of dollars
Wall Street has seen since 1880 or
1929.
Wage increases approaching $780,
100000 annually and Christmas bo-
muses. ,approximating $50,000.000 for
upward Of 1,5o0, 900 workers.
About half the dividend total was
figured to be extra. resumed or special
year-end payments prompted by sub
stantial improvement in 1886 profits
and the Federal surtax on undistrib-
uted earnings.
Many November Meetings.
The crowded November calendar of
board meetings held out prospect Of
many more announcements.
Close calculation of the dollar down.
pour for workers was made dificult by
the failure of many companies to
specify details Of wage increases and
bonuses.
Anaconda Copper. National Cash
Register. Commercial Credit, Magma
Copper. Newmont Mining, Texas Gulf
Sulphur. the Atlantic Coast Line Rail-
road and Swift joined a previous long
list of companies in making the week
a banner one for extra and increased
dividends.
The weeks dividend total rose 10
about 1920, 100000 for some lis COM
panies, counting regular payments.
Anaconda contributed $4,337,000
with an extra of Is cents a share and
regular of the same amount for its
10000 shareholders. payable Decenl-
Der 81. Atlantic Coast Line ordered a
payment of 81, totaling about 81 ,800,-
900: Newmont Mining, 81, for total
of 81 ,063 ,292, and National Cash Reg
lister a 50-cent dividend amounting
to about 100000.
Many companies paying out more
money for tax credits merely labeled
their payments "year-end" or special"
dividends so as not to create the i'm
preston they we're raising their usual
quarterly rates.
Swift g. Co.. Chicago, added about
s3,5o0,000 with a special dividend of
80 cents a share and a quarterly pay
ment of the same amount.
Aside from 81 in extra and regular
payments to shareholders totaling
about $4,000 900, Commercial Credit.
an installment financing concern.
announced q bonus approximating
$3.50, 900 for 3,400 workers.
Dollar sharing in the prosperous
sutomotive industries spread with a
Christmas payment of about S1so.ooo
for 5000 workers of the Eaton Manu-
featuring Co.. Detroit. Pet Milk, st.
Louis, announced a s50,000 bonus for
1000.
Wage boosts averaging 10 per cent
appeared TO have swept major seq
nents of the cotton and woolen
textile industry as well as steel, esti-
mated to be employing among them
well over a million workers. with pay
rolls running at the rate of more than
81 900 .000, 900 yearly.
American Rolling Mill Co.. one of
the larger steel units, with principal
plants in Ohio. disclosed it had fol-
lowed leading companies this week
with a rise of about 10 per cent for
unskilled men and adjustment" Of
other hourly pay rates.
Utility Plans Advances.
The Niagara Hudson Power Co.,
large utility system in New York
State. with about 1000 employees,
plan to raise pay of all receiving less
than 81, 500 yearly.
Textile workers in the Carolinas
scheduled for wage increases next
week were placed at 10000 as seven
mills employing 5000 joined the list.
Cluett, Peabody e. Co., shirt and
collar manufacturers of Troy. N. Y
announced the regular quarterly divi-
dend Of $1.75 on the preferred and q
special Of 50 on the common which
combined will call for an outlay Of
1924, ,365.