Show THE RIO jGBiHDE WESTERN An Interesting Report Put Out By President Palmer New York Oct 19 William J Palmer Pal-mer president of the > Rio Grande Western railway has at the instance of the directors issued a circular to Oe preferred stockholders which says The auditors figures for the first quarter show net earnings of 350100 and a surplus of 16761S The surplus above all charges earned from July 1 to date will exceed 3 per cent upon the preferred stock and the payment of cash dividends should now be resumed re-sumed As the surplus already earned is sufficient to insure thfr payment of four dividends of threequarters percent per-cent each quarterly dividend of three quarters per cent has been declared payable Nov 16 to stockholders of record at the close of business on Oct 30 1SD7 There seems to be every reason to < believe that the remaining eight and onehalf months will show further additions ad-ditions to surplus in excess of the amount necessary to pay the remaining remain-ing 2 per cent to which the preferred stock would be entitled for the year The present views of the directors are that if this Intention be realized such remaining profits should bs divided in the forms of extra dividends of 1 percent per-cent at the end of each six months period I 91 |