Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-11-11
I'd EDITION.
B.&O.'S BIG EARNINGS
A Twenty Per Cent Dividend De-
olared by the Directors.
AMERICAN BANKERS IN SESSION,
Snow Storm and Blizzard in the
Northwest.
MANY DISASTROUS FIRES.
rxSpourarr AVN n arryo>r
AMERICAN BANKERS IN SESSION.
MANY DISASTROUS FIRES,
IMPORTANT b. AND O. ACTION.

A Twenty Per Cent Dividend Declared-New
Issue Of Stock Authorized.
BALTIMORE, Nd, Nov. 1.-THE following res
olutions were passed at the monthly meeting Of
the board Of directors Of the Baltimore and
Ohio Railroad Company held here today:
Whereas, for the fiscal years terminated
September 80, 1889, 1890 and 1891, the ne,
earnings and income Of the company have
amounted to the sum of "a, 545, 272.3i-as shown
by its reports-after the payment OF
dividends on the first and second series
s9o0, 900, the adjustment of the sinking
fund accounts, and after charging to operating
expenses during those years over one million
dollars expended in betterments and improve
ments Of the physical condition Of
the property and In bringing it up
to higher working standard; and,
Whereas, after charging to profit and loss
OF those years the sum Of 81 ,6l7 ,05l.09-a de.
duction which has been deemed proper &c
make by reason mainly Of depreciation Of value
OF equipment which properly should have been
made during tho year lSSs-there still re-
sum Of 1881. 455.23, which sum, in addition
to the amounts derived from other sources
has been used in reduction Of bonded and Cal
trust indebtedness of the company to the
amount Of 1928 102.G6, and also for all per.
manent improvements of the railway and fol
hoW Sohon uSseoA, VA VI WuACu OoAedtut0 Nulu'
able additions to the property and to the CAPT
tai Of the company; therefore,
Resolved, That a dividend Of 20 per cent be
declared upon the common stock of this com
pany for the period ending September 80, 1891
payable on and after the 3lst day of December
1891, in the common stock of the company, al
the Office OF the treasurer, to the stakeholder
Of record at p. M, on the 30th day Of Novem
Der, 1891.
Whereas, during the preceding thres
years the company has deemed it wise to ex
pend its entire net earnings and income in
much needed additional construction and bet
terments Of its railroad SYSTEM and,
/ Whereas, These expenditures must con
tinue in the future, in order to establish anG
maintain all the lines of the company at the higt
standard Of efficiency now necessary for remun
erative results. in addition to which large ex
penditures will be required for the improve
ments and extensions necessary to avail of thu
large business, freight and passenger, that will
undoubtedly grow out Of the worlds fair a
Chicago and,
Whereas it is not deemed desirable to continue
longer the appropriation of the net earningl
| and income Of the company to such expendl
lures, but to provide for the same out Of SALE
of its common stock, In such amounts and a
| such periods as may be deemed expedient
therefore be II
'Resolved, That an issue Of the common
stock Of the company Of the par value O.
s5,096 800 be and is hereby authorized, ant
the president and finance committee ar,
hereby empowered to sell this issue in Who'll.
or in part at such times as may be by then
deemed expedient."