Railroad Dividends

In the upspurt lately enjoyed by the railroad industry, some enthusiasts have been led to talk as if, until the past year or so, American railroads were barren investments. A financial scribe compiled, last week, a list of the American roads with long dividend records which throws an interesting light on the subject.

In respect to unbroken dividend records the Pennsylvania undoubtedly leads. Since 1846, it has paid a dividend to its stockholders every year, although the amount has in different years been raised or lowered; on each $50 per share of stock, $225 has been paid in dividends so far. Illinois Central has paid steadily ever since 1860, and its dividends per share now aggregate $446. The similar figures for other leading roads follow:

SINCE AGGREGATE New York Central ... 1870 $322

Chicago & Northwestern pfd. ... 1878 351

Chicago & Northwestern common ... 1878 288

Delaware, Lackawanna & Western ... 1880 745

Delaware & Hudson ... 1881 330

Great Northern pfd. ... 1890 223

Canadian Pacific common ... 1892 251

Michigan Central ... 1895 181

Canadian Pacific pfd. ... 1896 117

Norfolk & Western pfd. ... 1897 110

Union Pacific pfd. ... 1898 107

Atchison, Topeka & Santa Fe pfd. ... 1899 128

Baltimore & Ohio pfd. ... 1899 101

Louisville & Nashville ... 1899 122

Northern Pacific ... 1899 165