EXTRA DIVIDENDS DECLARED

The New York Times
December 5, 1916

American Car & Foundry and Chandler Motor Pay 1 Per Cent.

The American Car and Foundry Company and the Chandler Motor Car Company declared yesterday extra dividends of 1 per cent. for the quarter. Beside this the former raised the quarterly disbursement from one-half of 1 per cent. to 1 per cent., making the total to be received by stockholders on Jan. 1 2 per cent. The rate of 2 per cent. annually was maintained on the stock from 1909 until yesterday's action was taken. The usual American Car and Foundry preferred stock dividend of 1¾ per cent. was also ordered, payable Jan. 1.

The Chandler Company declared the usual 2 per cent. quarterly dividend along with the extra. These dividends make 10 per cent. declared this year. President F. C. Chandler said after the Directors' meeting that $1,000,000 had been added to the surplus account during the year.