The New York herald., 1876-03-09
WESTERN UNION TELEGRAPH CON-
PANY.
ANNUAL REPORT OF ITS PRESENT CONDITION
FROM PRESIDENT ORION.

ANNUAL REPORT OF ITS PRESENT CONDITION
FROM PRESIDENT ORION.
Yesterday at noon there a meeting OF the West
Union Telegraph Company In its main Office, at the
corner OF Dey street and Broadway. quorum OF the
Executive Committee was present, and the following
report from President orton given to the commit
tee aud adopted -
Dividends were resumed for the quarter commencing
Apr l. 1874, since when there had been paid seven
quarterly dividends of two per cont each.
ON the 1st of April, 1874 there a surplus on hand
Of $51i5s4 % The earnings from April ], 1874
December 81 1875 Zone year and nine monthsl
S.. 730,577 SO, making total oi 50. 245, l61 70.
The quarterly dividends amount TO g. TO 1ss
During the time the interest bonds paid and
accrued TO $S42. 32S 81 and the sinking fund
Is $s7, 500 making total OF $780, 0l6 81, leaving
balance Of 1886, las 90. To this balance should be
added the proceeds Of the sale of bonds issued in 1875
In of the amount required TO redeem the bonds
1902 202. making total OF $SSS, ,347 %.
During the period covered by the above
statement there has been expended IN
the completion and furnishing OF the
new building ........................... ss23, ,a27
Construction and purchase new prop
.......................... GA, 4o7
Total 81, 4s7, 1856
Deduct from this the surplus as above.... sSs, 347
Leaving deficit on the slst of December
TSe s. business Of the current quarter based Se
official returns for the month of January nearly COM
plco returns the month OF February carefully
estimating the business OF the month of March, will
show substantially the following results-
Receipts " 20 $40
Expenses 500, 795
Net profits ............. ............... sT2o,ol4
The interest the bonded debt
crung in one quarter amounts TO $4,000
sls7, 900
Deducting this amount from the net profits
OF the quarter, as stated above, would leave
applicable To dividends. 6S3 Ola
But, as already shown, there deficit ON
the first day OF January. 1876, of........ S49,3S7
Which, deducted from the above, cavcs... 80 626
All Of which residue will be expended during the
quarter upon construction which II has been deemed
advisable TO authorize
Whe therefore, the business Of the current quarter,
spite OF the depression In all branches OF
trade and the reduction OF rates by competitors,
viii be nearly up TO that OF the same period Of last
year. will be from the foregoing exhibit that
after providing for she interest and sinking fund.- pay
able the LIST OF May next there will be funds
hand whercwith to pay dividend In view Of these
facts tho Executive Committee have adopted the iO
lowing resolution for the consideration OF the Board
Whereas this company during the last years
pended and property considerable
Intended provide for BY captalikati0n
and whereas policy such capitalization deemed in
eNpedcnt the estimated earnings a the nd OF the
current quarter will be sufficient entirely qudate tho
expended aud leave the company free IRON hoat
ing debt. therefore
Rcsoivcd That this committee recommend 10 tho drcc
tors action the question OF dividend
the next quarterly meeting OF the Board.