Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-12-05
CITY IMPROVEMENTS.


Enterprises That Develop into Large Divi.
dend-Psyine Concerns.
One Of the important features Of the report
| Of Commissioner Rossen are his comments
upon the sidewalks Of this city. He says that
they contrast 30 badly with the roadways a. "a
| cause constant remark from strangers and con-
| slant complaint from citizens. He favors the
| substitution Of . modern pavement like the
granolithic for the brick, which i the bans Of
the existence Of the pedestrian and is relic
OF the days when this city simply existed.
At one time there was hardly any other kind Of
| sidewalk to be found here, and IL was both I'M
pleasant and unsafe to stumble over its irregu-
lar surface and to plunge the foot into the
miniature duck ponds which diversity the
scenery OF the average municipal brick side
walk. Now, however, the brick pavement is
disappearing and in its place is q sidewalk
in front Of the White House, no well
as in front Of o nurnber of residences and bust
ness houses In the city. This IA the woll-known
Schillinger sidewalk. It is a big undertaking
to relay the miles OF footwniks in city like
Washington. but that IL what is being done.
The work is going on gradually. but surely,
and while considerable progress has beer made
there IL n great deal yet to be done before the
city sidewalks will be OF the modern type which
Is demanded by progressive people.
The career Of the Schillinger Company throws
! an interesting side light the Improvement
OF the city and the expansion Of business inter-
esss. For the past twelve years the company
has boon in operation here and now the busi-
ness has increased to such An extcnt that it has
been necessary to reorgauizc it. That class of
business is increasing here and 1t requires an
enlarged capital to properly carry it on. The
| scope OF tae operations OF such . Company
has extended. Not only Is the demand for side
| walks laid in the style adopted by tho company
constantly growing in proportions but the COM
pany has now secured proper facilities for laying
the sheet asphalt pavement Tho new CON-
| pany, for the reorganization has been effected,
also owns the right to buy the Anchor IRON
bound curb, the patentee, Mr.. H. II. Vain
wright, being in the directory Of tho company.
| With these substantial and prohtable interests.
capable Of great development, the company
proposes, with its new capital OF GOO, COO, 70
meet the demand which has now assumed the
| proportions of great business
The officers. who, with one exception. also
constitute, with Mr.. Wainwright. the board OF
directors. are as follows: President, Col l.. 7.
Wright, register OF wills; vice president, John
c. Poor, the treasurer OF the Washington Gas
Light Company; treasurer, II. 7. Woods oil
Woods Co., bankers; secretary. F. II.
Thomas; general manager, II. j. Mclaughlin,
who was the principal officer in the old COM
pany. 1t is proposed to do work along these
lines, not only in this city. but in all large
cities i'll the country.
But few know Of the enormous amount OF
| money expended yearly by the District gov
eminent and private parties in the street and
| sidewalk paving business and the large yearly
dividends paid by the concerns in this branch
of business to their stockholders. According
to general understanding it IL not uncommon
for concern of this character to pay divi-
dends Of from 20 to 40 per cent on their capital
stock.
Washington today is extending more rapidly
than any other city Of its size i'll the United
States New streets are being laid out aod old
ones extended. besides the enormous amount
Of old brick sidewalks that are being rapidly
replaced by the new granolithic pavement.
The name OF the Schillinger Company is known
throughout tho United States Its work has
not been confined to our city. The contract
Tor laying the sidewalk Ia front OF the White
House was secured from the District govern
ment as this company was the lowest bidder.
II has been awarded the granolithic work under
the permit system from the District Commits
sioncrs for the eoming'year.
The original capital Of the company was not
sufficient to carry on the immense contracts that
viii be given out during the ensuing year, and
for this reason it has been reorganized with
new officers. and incorporated Us the SchilIin-
ger Cur bling aud Paving Company of WASH
lngtor
The organization Of such company. which
purely local In character, IL regarded as an
event OF considerable importance.
The treasurer OF the company Mr.. II. T.
Woods, in conversation with STAR reporter
after speaking OF the assured field which the
company proposed to cover: said AS an IN
vestruent there is nothing at present offered
which presents 80 great an inducement in the
certainty Of early returns in dividends and OF
prospective advance in the price OF the stock.
Other companies in this line Of business are
| earning handsome dividends for their
shareholders, varying from 20 to 10 per
can't. and the stock of these companies
| readily commands a handsome premium, above
! its par value. Persons not familiar with paw
tng, have no conception Of it's extent and yearly
increase. sums amounting to many millions OF
dollars are annually expended in this line OF
improvements and its profits are larger than
| thOse OF almost any other legitimate business.
The directors have authorized the sale OF $50
| shsres Of the capital stock. This stock can be
obtained Mt our bank. l222 F street"
With the prospect of work for the coming
year the stock OF this company, 1t is estimated,
ought to pay large dividend besides placing q
handsome sum to their working capital.
The stock will nlso be placed ON sale in
baltimore the same days rs here and it is be-
lieved by conservative business men that the
required amount will all be subscribed the first
day, and, this Is all the stock that will be
placed on the market, it il considered 70 be o
gilt-edge investment.
GEOKGETO