| Show WILL ISSUE NEW STOCK STOCKA A Million of lit Com ID 10 lie Ill on 1111 New ew York May ln Directors of M the 00 Union Pacific and Pix clde companies voted oltI to te th lka of the tho two IWI on a IL Instead of ot u I dividend III As a result ro R ly I dividend of 1 l pr cent on South Southern ern In stock a divi dividend 1 11 of 2 of per cent on UnIon Onion la stock tm was WIlB These dividends will bo bl payable July Jul 1 and are 1111 ut lit same time lint rote rate per pel annum as 19 the lust 1110 18 The directors of or the Southern Pa voted to off UP for 01 stock st Ik to the extent of I G r per cent of oC the capi capt capitalization or 01 Announcement was made after the th meeting Um that the director nf lit tho Pacific will Mill call a lL stockholders mooting In June to authorise an all of common stock against which will 1111 be bl Issued l i 1 per percent J 1 cent 1 convertible le bonds bond The now bonds will be lie convertible Into Block at lit lt at nt nn lime within th The lII bonds bond will be ho at 90 9 In explanation of ot the tho proposed 1 Union Issue E 1 II rend n 0 statement which showed how 1 thai ti roads road requirement amounted to He HI staled that Its Ih total assets were about exclusive of ut 1600 miles of o completed railway He estimated tho not nd earnings of ot the tho Union Pacific for I at 32 as il compared with In the previous year All 11 Income hn 1111 estimated el nt and the bal balance ance over nil all charges t requirements und and dividends ls at 00 Mr r the net lIt earnings of Southern Pacific for or 1901 1 Or 7 1 nt to be he compared com parI with in the tho previous year y ar |
