Inter-Mountain Republican | 1906-10-29 | Page 5 | Pennsylvania Will be Candid

I PENNSYLVANIA WILL BE CANDID Railroad Company Hitherto Secretive Will Wi Now Make Public Its Methods Philadelphia Oct 28 In In view of the discussion ion of or a po possible Increased dividend dl by the Pennsylvania railroad tho he company compan makes public its method of declaring all Its d dividends This policy derives rather special Interest from the time fact that the company has n never failed to pay an annual cash dividend tl lo to Its lis stockholders For Forman man many years ears It I has ban be ben n tho the fixed policy of oC the road for or the directors to refuse ic- ic fuse to ii dl discuss cuso the question of or the dividend until the tho statements and earnings and expenses for Cor or the preceding In ing imig six months month have been completed and amid are read ready for tor or submission lon to tho the board When hon the these e figures have been made up meetings of the lie finance committee commit commit- tee tc and of the he board are called callet The former meets at ot 11 o'clock goes carefully carp carp- care fully OW over tho ho statements and determines determines deter deter- mines mine upon It Its recommendation to the board as to the rt rate rale of the tha dividend to tn be paid based baseLJ upon the earnings of the previous six months This committee com coin continues In s session lon until 12 o'clock when without leaving the room the members appear appEal before the tho board of directors director which m meets ts at nt that hour Tho The report is then con considered and anh the necessary action acton Is Js taken by hy bythe bythe hythe the board In declaring the he dividend Thus there Is no chance for leakage leakas' leakas leakage leak leak- as' as age of or information or 0 for any anyone one or more moro of lf the he directors to know what the dividend nd will wi be anti and ant ll-e ll te announcement announcement announcement an an- Is given i to the hi public im immediately Ira Ira- mediately after adjournment tf of lr the board Any attempt therefore to forecast the dividend rate rte for or any six months Is simply guess work S. S J