The New York herald., 1879-10-09
WESTERN UNION.

ANNUAL MEETING OF THE STOCKHOLDERS AND
ELECTION OF DIRECToRs-THE ANNUAL RE-
PORT.
The annual meeting of the stockholders of the
Western Union Telegraph Company held yes
tcrday in the Western Union Building. and
$4,000 900 of out Of SAL. .O29 1873 repre-
sented the balloting for directors. This is the
largest number of shares voted ut any cleo
tion. The following Board Of Directors was elected
for the ensuing year:-Norvin Green, William II.
Vanderbilt, Edwin d. Morgan. Augustus Schell.
Harrison Durkee. James II. Banker Samuel +. Bar
ger. Joseph Harker, Alonzo b. Cornell, Hamilton
Mex. Twombly, John Van Horne. Cornelius Wander
bilt Moses Taylor. Wilson G. Hunt Edward S. Sand
ford. Chester W. Chaplin, Robert Lenox Kennedy. J.
Pierpont Morgan, George NJ Pullman. John r. Duff,
Darius q. Mills, Oliver H. Palmer. Sam uel A. Morri
son, David Jones, Arson Stager Edwin u. Worcester,
Henry NJ. Phillips. William d. Bishop and Hugh j.
Jewett. Mr. Jewett takes the place OF Mr.. Cam
bridge Livingston, deceased. The Board will meet
for organization at noon tomorrow
THE ANNUAL REpoRT
The annual report OF President Green to the stock
holders tor the year ending june 30. 1879, pre-
sented and approved. According to 1t the capital
stock Of the company is $41.O73.410 OF which there
was in the treasury on June 3o 1879: sA.227
and outstanding $41O29, 1883. The bonded debt at
the close of the year was s626i514. less amount Of
sinking funds and accrued interest thereon held
by the Union Trust Company. trustees. Sl253i7 50.
leaving sG.1 l66 Al. During the year f2.OoO
OF the sterling bonds due March l. 1900, were re-
deemed by the trustees of the sinking funds.
The revenues accruing to the company were
$lO07s s97 49, and the expenses, S5SO9,1l9 A. leav
ing the net profits S4269.77s 80. From this there
was applied for dividends interest on bonds and
sinking fund appropriations. 81. $50 3D. leaving
surplus of for the OF 81 sos SSS IT,
From the surplus there was appropriated for the
construction OF new lines and the purchase of
telegraph stocks and patents, So20G20 n,
leaving balance of s6s3,26s. The
port contains general statement. in which
it appears that of forty and half millions Of net
income in the past thirteen years little less than
twenty millions have been paid in dividends to
stockholders; six and half millions paid for in
terest and principal of bonded debt;. thirteen
millions added to the plant in the construction and
purchase OF lines aud stock in other COM
panics and real estate. and tIrce-quarters OF a
million remains as surplus in the treasury. Since
the consolidation OF the telegraph companies In 1850
its miles OF wire have Increased nearly threefod its
number of Offices nearly fourod and the number Of
messages sent nearly vefold while the gross and net
earnings have each been nearly doubled Twenty
five millions of were sent during the last
year. and the expenses less by S4l5O0 than for
the year ending June. 1873 in which only fourteen
and halt millions OF messages were sent The
Western Union Company owns Sl,03s, 800 out OF
ST. 500OJ0 capital stock OF the International Ocean
Telegraph Company aud 81 1885, $50 out OF capital
stock OF s25OO.OJO of the Gold and Stock Telegraph
Compauy