Jasper County Democrat, Volume 19, Number 23, Rensselaer, Jasper County, 17 June 1916 — Monon Declares Dividends. [ARTICLE]

Monon Declares Dividends.

The directors of the Chicago, Indianapolis & Louisville have restored the common stock to a dividend basis by declaring 3% per cent on that issue. The dividend.was passed two years ago this month, prior to which Mon on had been paying 1 5-8 per cent semi-annually, or 3 14 per cent a year. The dividend just declared was announced as “a dividend,” but presumably restored the common stock to the basis prevailing up to 1914. As the dividends will be paid this month, the income accounts of the Southern Railway and the Louisville & Nashville for this year will benefit, since they own the greater part of both classes of stock. The interest of these properties in the Monon amounts to 93 per cent of the $10,560,000 common and 7 7 per cent of the $5,000,000 preferred, equally divided between the tv.o roads. Regarding the Monon, the Wall street Journal recently said: “The Monon will probably show a balance for dividends this year equal to between S per cent and 9 per cent on the common after allowing for 4 per cent on the preferred. This would compare with 6.38 per cent on the common last year after 4 per cent on the preferred, while in the 1914 fiscal year the company earned hut 2.91 per cent on the-pre-<c'T((i it was on that showing that the . common dividends were passed.” in the first 10 months of this year the Mon on's gross amounted to $6,321,005. it is estimated that May and June will show gross of $1,387,000, bringing the total for the year to $ (,705.095. That would mean an increase in gross of sl ,l }s.f 36 over the total of $6,559,665 in J9ir, ; Ten months' net earnings aggregated sn2‘, 1 0 7,623. Allowing $400,000 net for the two months of May and June, other income of. the same amount as last year, and a small increase in charges, a balance for dividends is indicated of over $1 ,- 100,000, which would mean 4 per cent on the preferred and almost 9 per cent on the, common. The showing so far this year indicates the best 12. months in the company’s history. • ( . In addition to the common dividend, the regular semi-annual dividend of 2 per cent on the preferred was declared. Both dividends are payable June 29 to stock of record June 19.