OCR Text |
Show NO DIVIDEND IS DECLARED United States Express Company is Hit by Parcels Post. New York, Oct 2S. The United States Express company today pansed Its semi-annual dividend of $3 p. share. Tho establishment of the parcels par-cels post and a decrease in the company's com-pany's earnings during tho last fiscal year were among the reasons given by the directors for failure to declare the dividend. Tho company has paid dividends annually since 1S96. The annual rate of 6 per cent was established in 1910. Tho following statement was issued byline company: "Tho directors of the United States ID-press company decided not to declare de-clare tho semi-annual dividend usually usual-ly paid in November For the yoar ending June 30, 1912, gToss revenue from operation Increased ?109,1S1. Tho Increase of expenses was SI, 149,48 1, and not earnings for the year from all sourcos applicable to dividends was 5233.22S. "In vlow of theEe results, of the establishment of the parcels post and other problems now confronting the company and the uncertainty arising therefronl as to future earnings, tho directors do not feel Justified in de daring tho dividend at this time '' nn |