New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-24
PRESIDENT ROBERTS WlNo'
coxnrr,ox OF THE NORTHERN CENTRAL
. .xxrA1 MEETING VOTES AGAINST AN IN
CREASE or STOCK
., .av ~ TO TIE TRIBUNE
reIK0eAPu 70 rHR rRBuNk-J


Ri o. There a. breezy tlhe ~
BALI ~ the tockholders of the Northern
VIC So nu,v to-day Robert Biddle, STOCK
80 - pbnsdeIphia, created sensat oS oHo'ns
. u,sout,on asking thai the Board oi pHco'"t' oo
.-aa,.d 10 awe, more detailed s'a'o"o"' Vi 'iO ~
- md pttsbrg settlement. Then MI IT, b. hoo'
nho An addition 10 being director Of the North
srr central is the president Of the pennsylvania
ur.a moved that the resolution be laid on the
80, There was a good deal Of argument, which
snaly eliminated In resolution offered oN :. ~
suvser OF tha city. that the reports be accepted @
Rad and that the thanks Of the stockhoiders oe GA
tended TO the management for their clever hAhoiine
Of the road Mr.. Roberts seconded the resoiu'o"
and the chair put II to vote. The yeas won oesp'e
~ emnbatic NAYS Of Biddle and his friends linen
General wilson asked for stock vote on the no'on'
but Mr. Roberts offered counter motion tha' no sto
vote be taken. The latter motion was Pa'soU wv
eral Wilson then offered this ... ~,
u,har.as II appears from the annual reports OF
the president and directors from the years I,shie
1851 both inclusive, that the net income fdeSnct
a., coo 40 for betterments and equipments, anu
the cost of entres, 200 reisn' & The COST Of
Wb1eb Is not given but which has been chai soo " TIC
operans T5ee has icen derived out Of said net in
come - el5g.6 in cash. S6JO,OOO in STOCK tO'd VI
s8275946 leaving an excess OIL eSans sI' u Dos
but IL ocd that the Board OF Directors
be- and they are hereby directed a. n rdrn"rafon To-
a. 600 600 4ad to divide the same rstaby between
The stockholders Of record without assess ent or pay
ront thereon at the rate OF 10 per cent per anuuIn
on the capital stock after 1t has been lncreAseu ~
s. 600 600 as long as the net earnings continue ~
The average rate OF the last five years anu thtIe
mains the credit of profit and loss net Oaianoe u
Ss77. 63S 20. :, - .o hopo
Voted that the Board OF Directors DC anu ao no'0
bv directed 10 declare cash dividends.
Mt Roberts said that he thought motions Oh inc
character Just offered by General wilson detrimental
70 the good of the corporation and that, as the man
bad
saw no necessity of increasing the capta
stock and decrcasl ng the dividend lie therefore
moved that the motion be laid on the taDle;: Ihls
was agreed to- General Wilson then called Tor a
stock vote, but he didn't get It. The annual reports
show that the revenue OF the main line win 'ne
leased and operated roads last year amounted Zoo
S6212 $50 27. The operating expenses were S4'Ioo,
44 Is leaving balance Of net earnings ior me year
Of 80 O73.4s4 40, which in comparison with the SeaI
1885, shows increase In gross ca a t ~
1927 900 IL equal 10 8 20 per cent; an increase "
expense OF $4,000 3d. or 81 per cent, resul1in
in an Increase of earnings of S12l 300 "a or 90
per cent George B. Roberts was elected president
Louis W. Hall elected director In the pace oI
Henry Gilbert, deceased There were e-iofo suaIos
stock represented