Many a directorate met last week and the main talk of most was what to do about their quarterly dividend. Out of few meetings came any joyous tidings. Three big railroads passed their common dividends: Chicago, Rock Island & Pacific ; Maine Central; Lehigh Valley. Two other great systems. New York Central and New York, New Haven & Hartford, cut their quarterly payment from $1.50 to $1 (lowest New York Central rate since 1889). Southern Railroad directors, following earlier decision, discussed no common dividends, ordered none.
Besides railroads few great companies acted on dividends...
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