The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1886-03-11
THE MEAI.rItA uhInN.
stock Dividend DsGiAt Od-ThO Quarterly
statement.

stock Dividend DSCiAtod-ThO Quarterly
statement.
New YORK, March lO.-At the meeting
ol the Western Union Telegraph Com
p,ny to-day, the following resolution was
adopted:
RCsOlrGl;-Thst q dividend OF ! per.
cent be declared on tho capital stock oI
the company, to be issued on and after
the 10th oi April proxlmo to the stock.
holders Of record at the close Of the book
Of transfer on the 20.h OF March inat,, in
certificates Of Indebtedness, payable in tlit
capital stock OF the company al
par within twelve months, or when the
company shall have obtained authority to
increase It's capital stock; and until 60
paid, the said certificates to bear interes,
at the same rate and p8yabeat the aamt
sime or times and In the same manner a.
the company shall pay diYldends on the
capital stock, such certificates TO be trans.
terrable on the books OF the company.
The regular quarterly statement shows
the surplus on January /, 1885, to be $4,-
l02, 10 81, The net revenue OF the quar-
Ter ending March 81, inst, based upon
nearly completed returns for January,
partial returns for February and estimat.
ing March, will DO ahoutSl ,65O,OOO. Add.
ing the surplus as above makes total oil
81, ,l52,l70 81, from which appropriations
lor interest on the bonded debt OF $l23, 500
and for the sinking fund OF $40, ,0Ol, leaves
balance Of $5,00S,Oss "a.
The falling of in the net revenue for
the last quarter was In the cable, com.
merCial, news sandquotation service. There
was large increase Of expenses for taxes
and cable and land line repairs which are
beyond control. The reCslpts for regular
inland commercial messages have been
we'll maintained, the weekly receipts from
test offices (which include those at all the
principal buSlnees CITIES and towns and all
the important points reached by competing
lines) showing an increase Of $3l, ,17S over
those Of the corresponding quarter OF last
year.
The winter has been q very hard one on
the telegraph lines, ocCasioning unusual
expense for maintenance and many pro.
traCted Interruptions Of wires for hand.
ling the business. Notwithstanding such
frequent interruptions by storms and
lluUNb tuu WI HGUhb VI Llb pL6seuJ uuhI'
ter since January let, shows the receipts
for the inland commercial business Of the
best Offices equal to those Of the CORES.
ponding weeks Of last year, whilst our
cable business is recovering from It's de.
preston. Tie volume Of inland CONNER
cial messages handled Is greatly In excess
OF the previous year.
OF the surplu6 at the close OF the quarter
OF 81, zoos, ,OsS 81, az shown in the statement
there have been invested In the Coustruc.
ton and purchase OF lines and othor tele.
graph properties up to the beginning OF
the quarter 1883 $50 12, which will prob
ably be shown to have reached 81 100000
by the close Of the quarter, with prob.
ability Of requiring furtherinVestments Of
considerable sums at an early day.
Itis therefore recommended To pay no
cash dividend, but the surplus invested In
the plant may he capitalized by the issue
OF additional capital BtoCk and distributed
pro rata to the stockholders to whom II
bolongs, which has been adjudged by the
Court 0t Appeals tg be 9 legal and proper
method OF representing 1t.