United States Congressional Serial Set (Volume 6586)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914. Excerpt: ... Mr. Phippen. Not at present. Mr. Folk. And have paid none since April 1, 1913? Mr. Phippen. No. Mr. Folk. So in order to pay any dividends at all the Boston Railroad Holding Co. has to secure the amount from the New York, New Haven & Hartford Railroad Co? Mr. Phippen. They do. Examiner Gartner. The New York, New Haven & Hartford Railroad Co. does not own all of the capital stock of the Boston Railroad Holding Co., does it? Mr. Phippen. No; they do not. Examiner Gartner. What part of the whole capital stock does the New Haven Railroad own? Mr. Phippen. Referring to the dividends paid, we pay to the outside holders $56,000 each six months, or $112,000 a year, and the balance of it goes back in the way of dividend checks to the New Haven Railroad. Examiner Gartner. But this $112,000 a year goes to outsiders? Mr. Phippen. Yes. Mr. Hines. What is the balance that goes to the New Haven? Mr. Phippen. The difference between $112,000 and five hundred and odd thousand, whatever it is. Mr. Hines. You say $112,000 goes to outside holders? Mr. Phippen. Yes. Mr. Hines. How much goes to the New Haven? Mr. Phippen. All the rest of the dividend. Mr. Hines. How much is it? Mr. Phippen. I will figure it. It would be $489,878. Mr. Hines. Is that the total dividerd every year? Mr. Phippen. Six months. I am giving you six months. Mr. Hines. That is the total for six months? Mr. Phippen. Yes; making $545,878 for six months. Mr. Hines. $545,878? Mr. Phippen. Yes, sir. Mr. Hines. $545,878 for each six months? Mr. Phippen. Yes. Mr. Hines. That is the total dividend paid by the Boston Railroad Holdirg Co.? Mr. Phippen. Yes, sir. Mr. Hines. And included in that is $112,000 paid each six months to outside holders? Mr. Phippen. No; $56,000 each six months; $112,000 per year. Mr. Hines...