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Show DIVIDEND DECLARED BV WESTERN PACIFIC First Disbursement Made; Stock Takes Sensational Sensa-tional Rise. According to Information rereixed in Salt Lake, tiie board of directors of the Western Pacific railroad company in a meeting at San Francisco haw declared a d ividend of 7 V2 per cent on the prc- ferred stock of the company covering a period of one year and a quarter. This is the first dividend that has been declared on stock of the Western Pacific, and the declaration nf the dividend, coupled cou-pled with the action of the government in taking over control and opera tion of : the railroads of the country, is reported ! to- have been the cause for sensational i advances in the quotations of Western ! Pacific stocks. The dividend Is declared for the period beginning October 1, 1116, to tho first of the present year at the rate of 1 Pei' cent quarterly, making the total divi- I dend 7 Vj. per cent. I Owing to the fact that the Western Pacific Pa-cific Railroad corporation of Delaware is ! the holding corporation of the California : corporation, the dividend was declared in j favor of the Delaware concern, and it is : Understood that distribution of the dividend divi-dend to the preferred stockholders will be made by the holding concern. The amount of money to be distributed ' to the stockholders is about $1,600,000. it is , reported. The capitalization of the , Western Pacific company of California, i which is the operating company, and on ! the stock of which the dividend was de-! de-! dared, is $"7,500,000 of 6 per cent pre- i ferred and $47,500,000 of common stock, of i a par value of $100 per share. There is; j about $2,000,000 of preferred stock out- ; standing. I In connection with the announcement 1 of tho declaration of its first dividend by the Western Pacific comes a n announcement an-nouncement from Chicago of the filing of a suit against the Denver & Rio Grande railroad by the Equitable Trust company of New "i ork for the collection of $36,-i50,3S $36,-i50,3S interest on the old Western Pacific Pa-cific company's bonds, which was guaranteed guar-anteed by the Denver & Rio Grande after a previous suit had been brought by the trust (company against the Western Pacific Pa-cific and judgment had been secured. The Western Pacific was taken out of the hands of a receiver in June, 916, by the California corporation, which has been operating the road since that time profitably, prof-itably, as indicated by the dividend. |