New York (Oct. 31)
A first dividend of 3% to be paid to the stockholders was announced yesterday by the Directors of the Russian-American Industrial Corporation at 31 UnionSquare. The dividend will apply on about $300,000 subscribed by five and a half thousand stockholders of the company.
The dividend, it was stated by the corporation’s directors yesterday, is paid out of the earning of the operations of the corporation including their investment in the All-Russian Clothing Syndicate, in which the “R.A.I.C.” is co-investor with the Russian Supreme Council of National Economy, the Moscow Experimental Factory, and the Government Clothing Trusts of seven Russian cities: Petrograd, Moscow, Nizhni-Novgorod, Kazan, Kharkov, Tambov and Egorievsk.
The All-Russian Clothing Syndicate has a total capital of nine million gold roubles (approximately $4,500,000) and covers 25 factories employing 15,000 workers turning out every variety of men’s and women’s clothing goods, from caps and cloaks to knit goods and expensive fur coats for the Moscow and Petrograd trade.