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...
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