Business & Finance: Extra Dividends

The Christmas of 1923 will go down in history as lavish in extra dividends to stockholders. An almost interminable list of corporations, great and small, has followed the lead made some weeks past by the U. S. Steel Corporation in making presents to stockholders. Such an occurrence has not been witnessed since the spectacular but lamented year of 1920.

At first glance the prevalence of extra dividends would seem to indicate no small optimism on the part of American companies toward business prospects for 1924. When breakers ahead are sighted in the business world, spare funds...

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