RAILROADS: Erie Will Never....?

Ever since the repeated lootings of Erie by Jim Fiske and Jay Gould in the 60's, it has been a Wall Street truism that "Erie will never pay a common dividend." But last week recently reorganized Erie declared a $5 dividend on its new preferred stock—the entire 1942 requirements. That opens the door to a payment on the common.


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 TIME.com

Learn more about the benefits of being a TIME subscriber

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