The sun., 1889-12-29
TWO DIVIDENDS PASSED.
SOME or THE DRY DOCK RAILROAD
sTOOTHOLDERS PROHIBITING.
9oinG 60 Try and Oust the l1anagsnsAt,
which They Think IL short OF Stock
Got GAma Of Thnt Stnnh ThonanelHea.

| Going 20 Try and Oust the laanageusAt,
which They Think IL short OF Stock
| Got ssns Of That Stock Themselves.
The Dry Dock, East Broadway and Bat
tery Railroad Company failed to pay its accus-
toned quarterly dividend Of per cent last
February for the 1rst time In its existence Of
| twenty odd years The reason assigned was
loss occasIoned By strike the month before.
| The next dividend was paid but IN August
again no dividend waa forthcoming. and
there have been reports that no dividend will
be paid next February. The reason given by
| the directors for not paying the August divi-
dend was that the quarters earnings were re-
| quired to meet three-year- ola claim against
the road which the Court OF Appeals has In
recent decision awarded to the city
All this time the stock OF the company, which
was formerly firm In the nelghborhood Of 175,
has been fiuctuRting. and has finally dropped
to 127. Some OF the stockholders are dissAtis-
fled with the present management. and will try
to oust President William White at the cleo
tion on Jan. a.
No meeting Of the disaffected stockholders
has been held yet, but q meeting will be held
Immediately after New Years. On Dec. 81
Frank j. G. Jenkins, Jr.. Investment brokers
and stockholders In the road. sent circular
letter to stockholders asking for proxies. They
announced that 1000 OF the 1900 shares had
already been deposited in their hands and that
whom the necessary number had been received
they would coll q meeting to nominate O new
President and Board Of Directors. Four thou
sand shares, 1t Ia said. are now pledged to this
The circular made afew comparisons Of ex;
other roads. In the matter Of keeping tracks
In repair this exhibit was made:
DRY pocs s Ssy " YSrk % mile Brootlyp City
Ferry et2os2; Eighth Avenue. New York S727 is; At
York 6ssSiSs sixth AysnSs New York S sessSS N'"
comparison:
n5: n5:oiiyS 5i,S toa;sssS as. Slsniis
Sss% aVsaSs second aasnus sysnSs sSssS
The cost Of provender and grinding was COM
pared this way:
sss;Se; Atautie AysnuS 81 81 Forty second street
satS stFs aSs'e
Mr.: White has been President about twelve
years. The mon whom he has made directors.
that MEE;, White has things practically. his own
ments. About, three Years. years ago ago this iRio &C;
SeE nSa@sS hS Snd tho dfsStors SsRa
issued TO the shareholders pro rata scrip
to that amount which bore per cent, interest.
and a few associates in the Board held large
amonnt OF stock (which was then quoted at |
from IT'S to 200l.. and sold most OF their |
holdings at the high flgureR II is alleged |
that the directors had decided to pay the usual |
dividend In February las, and had actually
his mind and explained that q strike In jan |
uary made 1t necessary to withhold the diy- |
dend. Tho stock at once tumbled. When tho |
next following dividend was paid on time 1t |
dividend was paid last August. The disafiected
stockholders say that n sinking fund of
bonds had been provided to meet the
possible adverse decision in the suit instituted
Dy the city, 80 that 1t was unnecessary to hold
back the August dividend. The rumors that
there would be no dividend paid next Febru-
ary still further affected the stock which at one
time dropped to l24. 1t was bought in some
quantity at these low figures by holders out
side the Board Of Directors, and rallied little.
At the present time Mr.. White. 1t is said holds
only l75 shares; and loss than 1000 shares are
The disafIected complain that expenses are
too high President White draws salary Of
$4,000 and a few years ago made o new office.
that Of superintendent, for his son, at @ salary
of $1,000. Richard Kelly is Vice. President Of
the road. and the other directors are Henry A.
Morgan. John W; Scribner, Peter j. Thorne.
Charles A. Hotchkiss, John Z. Hoffmire Lam
sing Zahriskie. John Lowrey. William Richard
son. and Mr.. Jacobs.