Business: $1 from N. Y. N. H. & H.

A $1 special dividend on common stock was declared last week by the New York, New Haven & Hartford R. R., the first dividend since 1913.

For decades the road had paid $10 a share dividends; the comfort of many a New England family depended on its earnings; it was "New England Investors' Bible," "as safe as Government bonds." J. P. Morgan & Co. controlled the road, the late Charles Sanger Mellen was its president. Ambitious to control all of New England's transportation, the N. Y. N. H. & H. bought trolley, steamship and other connecting lines at inflated values. Financial collapse...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!