Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-01
MONTE CARLO PROSPEROUS.
THE GREATEST SEASON IN THE HIS
TORY OF THE CASINO.

New Wing q Necessary Addition TO the
Famous Gambling Resort-Proflts Of the
Present Year-The Expenses and How
They Are Divided.
rBY cABLE TO THE pIspATcH.l
LONDON, Oct Silt will interest those
who have moral scruples against gambling,
as well as those who have not and those
who are Indifferent in the matter, to know
that the "Socete Anonyme des Bains de
Mer ct du Cercle des Estrangers de Monaco, |"
otherwise the gambling company of Monte
Carlo, far from being on the point of closing
shop are opening new wing, in which ten
new roulette tables are to be placed, SO that
in the height of the season there will be ten
roulette tables and two trente ct quarente
in operation at the Casino.
The shareholders of the company met
yesterday, and their reports showed that
the past year had been the most profitable
of any in the history of the society, the
total receips from the gaming tables having
amounted to p 600, 600 francs, or s., 200, ,000
This is an advance of 5000, 900 over the
previous year, notwithstanding the fact
that in March last some half dozen .plung-
ers were breaking the tables daily and
walked off with about 81, 900, 600 francs, an
item which, of course, made a perceptible
difference in the dividend declared.
How the Profits Are Distributed.
Instead of distributing 1000, 900 francs
among the co. 600 shareholders the directors
were only able to pay out little over
j, 900, 600. Each share bears fixed annual
interest of 25 for 8 per cent upon the orig
meeting, and in April what is called the
dividend is declared, and the profits rpcn
the season are distributed accordingly. In
April last this amounted to 165 francs,
which made the total revenue, per share,
100 faancs, which is at the rate of per cent
interest upon the present value and SO
per cent upon the original value.
In 1890 the total revenue was 170
francs, and in 1889 it was 160 francs. At
the end of the last winter season the shares
fell considerably, on account of the large
winnings referred to, but they have now re-
covered, and are quoted to-day at 1000
francs, as compared with LOO francs at this
time last year. One million francs have
again been placed to the reserve fund, es-
tablished five years ago, with a view to the
expiration of the concession in 1918, so that
in case it were not renewed the society
might be able to iquidate its affairs and re-
imburse its shareholders in full
.- Liberal Concessions and Brides.
The amount set aside for working ex-
penses was therefore 9,000, 900 francs or ST.
800, ,000 Of this $3.50, 900 is paid for the
concession, though the correspondent of
the London Times says he is told upon good
authority that Prince Albert of Monaco,
whose hands are tied by the contract made
by his father with the company, no longer
touches this money, but that it is spent
upon the palace, in completing the
Cathedral and in carrying out other i'm
provements in the principality. Then
$50, 900 is placed to the account Of pub
licity," which is the term used by the man
ayers for payments to certain newspapers
for their tolerant attitude toward the con-
Germ.
The actual working expenses in salaries
to the immediate staff of croupiers, police
and detectives, to the theatrical troupe, the
orchestra OF the Casino, and the like,
amount to considerably over s., 1,0O0 900 q
year. The balance is devoted to the ex-
penses of the municipal government of the
principality, which the society is bound by
its contract to pay.