METROPOLITAN DIVIDEND DISAPPOINTMENT.
Considerable disappointment was occasioned to the Railway Market at the end of last week by the fact that the Metropolitan Railway Company announced its interim dividend at a reduced rate, the amount being 1 per cent. for the first half of this year against If per cent. for the corresponding period of the previous year. There had been the substantial increase of £33,000 in gross receipts, and it had been hoped that there would have been economies in expenditure. On the other hand, it had, perhaps, been overlooked that a year ago £130,000 was taken from the reserves and the carry forward to pay 3 per cent. upon the Ordinary Stock, absorbing £227,000. The dividend on the Surplus Land Stock was maintained, but the Ordinary Stock of Metropolitan dropped nearly five points and at present there has been no recovery,
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