Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-19
IT WAS ALL HARMONY.
The Westinghouse Directory Chosen
Without Struggle.
RAPIDLY DECREASING THE DEBT.
This Company Still Has Hopes Of Lighting
the Worlds Fair.
REPORT OF THE FINANCIAL STANDING

Harmony reigned at the annual meeting
of the stockholders of the Westinghouse
Electric Company, held in room 27 OF the
great Westinghouse building yesterday,
and the business was transacted with dis
patch. The attendance was very small,
! there being but few more than score OF
| gentlemen present There were but two
Eastern stockholders there, and they.
| Messrs Brayton Ives, of New York, and
| George w. Hebard, of Boston, raised no
| questions of Importance, as the Eastern
contingent did at last years meeting. The
| reports of the various committees were read,
approved and declared highly satisfactory.
President George Westinghouse submitted
his annual report, in which the affairs of
the company were said to be in most excel
lent condition.
Finances Said TO Be Good.
Under the plan of organization the COM
pany has fourished most gratifyingly to all
concerned The financial affairs of the COM
pany are said to be better than ever before
and during the last year and half prodig-
ious strides have been made. The indeb T.
edness of the Westinghouse Electric Com
pany upon the first day of January of last
year was S., 39S, ,632 16 and this was reduced
to 81, ,S83, ,297 SO in the month of March of
the present year. Notwithstanding the Sc
rious disadvantages incident to reorganiza-
ton the company succeeded during this try
ing period in keeping its factories in opera
tion and conducting a large business The
sales of the company between January l,
1891, and March /, 1892 aggregated So, f68,-
ordor toE Eap
during the months of March and April of
this year aggregated 81, 576, 235 So, and the
prospects for large business are exceedingly
good.
The report continued to some length, and
gave the various details and figures of the
company up until March l. 1892 The as
sets were read as s12, 400, 769 70 and the
surplus 81, $50, AS 20.
The election for directors resulted in the
selection of the old board, with the exeep-
tion of Charles Fairchild, of Boston, who
succeeds n. w. Bumstead, as follows:
Charles Francis Adams, Lemuel Bannister,
August Belmont, A. M Byers, N. w.
Bumstead, Marcellus Hartley, George w.
Hebard, Henry b Hyde, Brayton Ives,
George Westinghouse, Jr. There were
112, ,176 votes cast at the election represent
ing that many shares of stock.
Still Has Hopes for the wor' DIS Fair.
After the meeting President Westing-
house said, while speaking of the opposition
he has received regarding his attempt to get
the bid for Illuminating the Worlds Fair
grounds during the exposition, that he had
fought them in manner that reflects but
little credit upon their heads. Continuing,
he said:
sit has been said that decision by the
Supreme Court will within six months de-
prive me of the right to use the incandes-
cent lamp The next few months will bring
forth some surprises for the trust, and no
matter what decision is rendered the courts
will not allow the Worlds Fair work to be
in any manner interfered with.
81 feel as though I am entitled to the con-
tract, and think that it will be awarded
me. If am successful work will be begun
as soon as possible, and will have every
thing all right and in working order by
October 1.
"What action do 1 expect the trust to
take? Well, it has reserved all rights under
its former bid, whatever they may be, and
that usually means fight through the
courts. If it comes to that of course will
be there. There is not much money in the
work at the figures have made, but the
will be a valuable one, and
want it"