Newspapers / The Charlotte Observer (Charlotte, … / Aug. 27, 1907, edition 1 / Page 2
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n ft. . . a tm - :'H!ii-;e Bet con. , , -i of t" . i;.Knl and Xerrl . i:.c M.uKct Urtemly Xeed : ::: iy, let Distributing Profits .,;er Than- J!ale. U Eireet Journal, 26th. The action of the Southern Railway i rectors in declaring; a seml-annuii dividend of IVi per cent instead of the usual 2tt Pr cent, looks very Tnuch like a compromise between the necessities of the road and the neces sities of the stock market. The board was careful not to commit itself to a. dividend basi of S per cent bt point edly calling attention to the fact that the two declarations for this calendar year afjregate 4 per cent. The form in which the dividend announcement -was issued pretty clearly reflects the uncertainty in the minds of the direc tors a to whether the dividend may be continued at S or 4 per cent., res tored to the full 5 per cent, or passed altogether. No one can reasonably take .excep tion to their, .statement IKat "the in come account for the year reflect auch abnormal and extraordinary condi tion as may not reasonably be expect ed to recur." Conservative banking opinion Is likely to agree with the board also that "it was the part of conservative prudence to limit the distribution of the profits of the com pany." An fact It Is almost sure to o further, and believe that It would fcave been the .better course to limit the distribution of profits at least to the rate at which profits are being made.' This the board decidedly fail ed to do.- The formality of appro priating for dividend purposes a por tion of the surplus income of the pre vious fiscal year (ended June 30, 1606) ts of course mere bookkeeping. It does not miter the fact that the Southern Stairway failed to earn even li per cent fn the alx months to which, ac cording to the custom of the com pany, this declaration belongs. It is one thing for a road In easy circumstances to pay a part of Its div idends out of the accumulated surplus of previous years, but quite another thing for a road which is in urgent need of funds, and which li fairly crying out Its Inability to borrow the capital it greatly needs, to take such action. Examples of a contrary course are abundant " The management of the 8outhern Pacific openly defied a considerable faction of the company's stockholder ! for years in order to build up the toad out of earnings. The Rock Island cut off its preferred dividends completely when that road was In circumstances very similar to those in whtch the Southern Railway now finds Itself. The Reading has long kept Its payments far below the road's earnings. In hone of these uies is there now any hostility to this policy on the part of stockholders worth mentioning, nor is any one of these roads In sore need of funds for strict ly railroad urposes. The directors themselves refer to what many persons will consider should have been a powerful Influ ence against their declaring any divi dends at a'l. 'The fact that the com pany saw flt to go back to the earn ings of the previous year to Justify a partial dividend payment n not calulated , to mollify the iirous d publlo sentiment of North Carolina, Alabama and other Southern States, mistaken as this pub lic sentiment may be in miny points. While It Is true that capital must ,. have its compensation, the fact that other roads have sctm fit to poHtnono ., distribution to their stockholders In times of stress Is not unlikely to put 'the Southern Railway at a disadvan tage before the Investigating public, end Its own constituency of shippers as well. . The board's opinion that the com nany' poor revenues are duo to tem porary conditions is all right as far ns It goes, but does not tand analysis very well. Thus, the company ascribes , the increase In the cost of conducting transportation chiefly to Increased payrolls, end to the congestion nf tramc. The first cause fa one which "will certainly not be removed by any thing short of a general recession in , business activity, in which evvnt there will be all tho mote reason why divi dends should not he paid. The m--ond cause, unless it is relieved by this same disagreeable remedy, an only ; .be overcome by tip provision of addl tlona! track -facllitleH and equipment something which the Southern Hall way certainly cmnot expect tn mvnm pHsh by paying dividends. In the last fiscal year the company churned ..against Income account expenditures for this purpose aggregating only $554,000, whereas the year hrfnrn it reserved J39S.000 for Improvements oestde carrying $1,229,000 to profit .and. loss. Against an Increase of $3.0m,000 In gross earnings, operating expenses In creased $4.9if,000, and of this last In crease $3,131,000 was due to the high er cost of conducting transportation Maintenance of way !m penned $531? . jSaS,. m,In,t'1i",, 'f equipment ( 4T.600. The ratio of operating ex Tenses to gross .In-re.ised from 74 IS 1r cent, to 73.89 per rem. Hn4 ,haf . of conducting transportation to rross from 38.8 per cent, to 42 3 per cent. S WARD OX THK AiTkxTS. Jpenn,w Make nuinsr TJard to Get ir, of ami KmeVf Ppeeial to The Observer. Wlnston-Kalem, Aug. t'.The new , passenger rate which went into r fect on all the railroads in North Carolina, of more than, so miles in length on tti 8th of August is givlnir the ticket agents no end of trouble towing to the fact thm pennies ore rc . f?r al10st 'very ale of tt Impossible for the gents In the small er towns to provide their ofllcos with enough pennies to make tho correct cnange. Tn agenu in the larger . im.r. niBiun-Raiem, rare con siderably better than those in small , toftti ti they can, by a little fore- mgt mA mJn provide their VUM..WIU1 pennies irom the . banks As result many of the clerks in the Qiucea 01 towns of 3,000 habitants are tu1lrln .. ... throwing up their jobs and seeking . employment elsewhere, A man who h just returned from np inrougn me eute remarked , our correspondent vi-flay that last caturdav mnrnlnr an m i .. 1 f t,vQ; inhabitant lost 61 cnt on amount or nil inability to make thn , ytyK. The agent Is -working b rnvreipre, He I cne-third of his iav- t stated that in wn a th.fiA t..,.-..,.. L1 ;w vn. wisher tfllwllVRfl h purchaser of the ticket loss rather iima mm. tne agent lose, v t i tlatarritXsturc's Owji Cure, Herring's Catarrh Cur la VHtur. own remedv; it u r hv On Vttlo, price $1, brings 1- reim, joiiowea , oy perma rent cure. Not ft patent medicine, ui scjentma preparation guaran feed undef the ; Pnra . . rm , int ,r--rt toWi lu V""t testSmonlBjei i : u t ' 1 ' . 1 w t J ! , ' i i -1 ' 1 1 ! 1 I ( -M t i (I 1 Whether it be 12 or 15 cents will look good to us, but would either have been probable without Southern Mills ' Our .first prosperity followed the day, when we began to5 spin and weave our. own cotton What's the matter with the South making its own Shoes? Let us tell you about a start in that direction, ' - . ''";. Our RED SE AU Factory in Atlanta has a ca pacity of a pair a minute for every hour in the year, day and nights : . ' We are turning out shoes that for style, fit and finish have proven such free sellers as .to make them go through our shopping warerooms like a mountain freshet runs down hilL While we are sold up into September, we are increasing our output every day, making the shoes better every hour. ' This gives us a place for 500 New Custom ers, we want them from the cash-buying, prompt paying Merchants of the, South. If there is not a RED SEAL Shoe store in your town, let us together consider if our mutual interests can be conserved by a "traffic agreement" We have named the kind of folks we want as customers, Merchants who provide for their con tracts and meet their engagements promptly This enables us to give all our time and ener gies to perfecting the details of our Factory and Shipping facilities. Here are some of the benefits to you of the RED SEAL System: First A reliable line of Footwear, made ex- 4 clusively for Southern feet, and backed by thirty years' experience. . Second A system of Advertising free, that will cause the best people of your section to make tracks to your front door. Third A reserve stock of ready to Ship Shoes at your call, Monday's orders for Saturday's trade. Turn your stock over four to six times a year. Do your present business on half the stock you now carry. Fourth Some relief from the freight conges tion and delay in using a nearby market. Fifth There is going to be a big demand for Georgia Made Shoes, every pair sold will bring you a new customer. Our salesmen leave this week covering the South from Virginia to Texas. If ready to place your order before one reaches you, a postal will hurry him. Who gives us his opening bill has put the corner-stone of Success into his business Correspondence solicited J. K. ORR SHOE COMPANY RED SEAL SHOE FACTORY ATLANTA . Visitors to Atlanta will find some attractive bargains in our odd lots and sample cases, and the coolest sample room in town. SALESMEN: Wm SIMPSON Charlptte GH CARTER Sanford THE FIRST REQUISITE OF BE.UTT. The first renulsltept beauty l a clear ccmoloKlon. Orino Taxatlv Fruit Syrup clear a stllavr blotched complexion ft it stimulates tne Uver anl bowels, ano u: eyes become bricht and clear. Tou owe it t yur friends to take It It your complexion la bad. Orlao laxative tfruit Hyrup does not nauseate or grip and is ery pleasant to UK, iteiuse supsii- Exposition Suit Case Oar Great Leader These Suit Cases are made of clear selected grain Cowhide; russet color, best locks, fitted with both catches and straps, best folding Vienna handles.1 , We also do well on Bags Trunks. , ;. : " i A ... ..jS u ..- JI Fistai . n Celt's m r- . 1 Hevolvinj ' ' Ir.tmr.ita Flat Carii ' $X - f 1 crJ , :. , Railway Hcada , , -C ) Itbvizj Frcmis od ' n , j( J Spinning Frwacs J ) . Drawinj . j kz Cppdlcri , J V' A II. WAS II B UR N, Sio u th e tn Afl c at CIIAIUXJTTE, NORTH CAROLIttA Size 22-Inch .. .. .. .. $5.00. 24-inch .. .. .. .. ...... $3.50. 2'lnch .. .. . . $6.00. We buy this case by the hundred and sell them xas we buy them. We save you about $2.00 per case. I and G1LREATH & CO. COAL - ICE Don't wait too long. Buy Coal NOW for prompt de livery. We sell the best and the CLEANEST, therefore the CHEAPEST. Daily Ice capacity 160 wagons r " . Wagons and 4i;ah(l ..; Harness MW Harness' At our shops, 220 N. College street, -we build about' 30 diifferent styles of business wagQns, and you can save about 25 per cent, by buying direct from us, as we have no freight and other expenses that a retail dealer has to pay. ' .. , , , , We will build any kind of a wagon to order. ' . W. Wadsworths Sons Company CHARLOTTE N. C. The American Machine. & Manufacturing Company Cuccessora to Machinery and Contracting Business of THE D. A. TOMPKINS CO. CHARLOTTE. N. C tons. Standard Ice and fuel Co. Coal and Ice Phone 19 Notice of Good Roads Bond Election. Notice is herehy given that the Board of Commissioners of Mecklenburg Coun ty, pursuiirt to the prnvlnions of Chap tor S5 of the Public Laws of 1907.' has this day called an election, to be held on Thursday, the 19th day of September, 3907, (or the purpose of submitting to the qualified voters of said county the ques tion as to wneiner or not me saia coun ty shall issue bonds In the sum of XM, 00!). the proceeds of which shall be used for the purpoM of paring Oft the present floating Indebtedness of said county, and grading, building, repairing and otherwise improving the publlo high ways and roads therein. This tne ttn oay oi aurusi, iwi. Board of Commissioners of Mecklen- turp County. bx vv. m. iajku. inairman. STANDARD ADDING MACHINES Highest in quality, du rability and efficiency and lowest in price. B $185 Mode! $250 . E. CRAYTON & CO General Agents, SIT South Troon Street. CHARLOTTE, - 5.O. YARN REELS THE KIND WITH THE PATENTED OKi GCAR1X Keeps Oil Oft the Tarn While Doffing. Every Machine accurately balanced and tested at speed before shipping. Going To Build ? DON'T DO IT. Until rou have communicated with and received prices from. Hutton 4k Bourbonnals, who manufacture complete Houss Bill. Rough and Dressed Lumber. Sash. Doors, Interior Wood Work of all kinds. BottU Boxes and Packing Cares a specialty. Direct from the forest to the consumer. Hutton & Bourbonnais, Hickory, X. ? THE CHARLOTTE SUPPLYCO aNTS FOB American AU-Wronght Steel SpTll FUers nd "CUnt- 61 Itched Rohbet Bttlns. : Vim aarn lu stock Tale aad Towne Hoist ap to alx tons capacity; also u toll tine of Paokbig. PJp Valves and Mill Supptle. HavcYou Ever paid a visit to our Mantel Depart ment T If not, you have tailed to see some of the handsomest designs In Hardwood Mantels tver displayed in the city, and the prices are way: down Come In the next time yon are up street' 'Ar :i ' 'S' J. N. " McCausland & Co. tore Dealers, Itoofla; CoBtracturs, Dr. K. Nye Hetcblsoa. 9. 9. Hntfhlson. - E. Nyc Hutchison & Son INSURANCE FIRE, LIFE, - . - ACCIDENT, OmCE No. Hnat Balldlng, Bell 'Phone 4391, J DR. C. Ii. ALEXANDER , DENTIST ; - CARSON BCTLD1XO v - Boutheast Corner , inrnt and trtos stheetr. J for Farm and factory m . Engines, .' Three kinds; from 12 to ISO H. p. Boilers . 1 Return Tubular and Portable' on skids, from 13 to 1B0 H. Pt , Improved Gin Machinery. ; Singl Gins and Presses and com plete outfits of capactty of 100 bales per day and over. , , . ; r Saw Mills', - Four or Ave kinds, all sixes in use" ' in the South. ' - ; : Pulleys and Shafting Alt slses, from the .smallest to com ' plate cotton' mill outfits. LIDDELL COMPANY v r Charlotte, IT, 0,'. Ml . Tryon Street. Cbulottsv,&. avM.rbn . 1ST.
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Aug. 27, 1907, edition 1
2
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