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NARRAGANSETT DIVIDEND PAWTUCKET, R. I., Oct 8. The directors of Narragansett Racing Association, Inc., at a meeting Tuesday, declared a cash dividend of per share, payable November 12, 1936, to its stockholders on record as of November 5, 1936. The president announced simultaneously with the declaration of such dividend that while the earned surplus and cash position of the company warranted a larger dividend, the board of directors felt that good judgment required limiting the dividend to per share at this time and that after the fall meeting of seventeen days is ended November 11, the balance of the earnings of the company for the current year would be distributed in accordance with the requirements of the federal tax law through another cash dividend, payable in December.
