The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1893-09-05
FOURTH EDITION
ACHANGE OF MANAGEMENT.
The Trumps to go Out-The Causes to
Have the SRy-A Sufficient Number of
Proxies to Effect the Cbnnre

The Trumps to go Oat-The Causes to
Have the sny-A Sufficient Number OF
Proxies to Eject the Change.
\ The present large and valuable cleo.
trio light plant situated on West Fifth
street near Tatnall, was started In q
small way by Wilmington capitalists
In 1881, ON East Third street near Pine
lstreet, and was known as the Arnoux
! Electric Light and Power Company,
with Oakley Q. Purdy as manager and
Electrician. The stock was then worth
$50 per share, being put on the market
Jas low as Sl5 per share.
The company had only fair success
and never paid dividend. and after q
flew years of encouragement 1t was
merged Into tho Edison Electric Light
Company and the plant removed to its
present quarters. Mr.. Purdy was sue
iceeded In the management by Captain
Charles ii. Smith, who gave the plant
his entire attention and help in its ell
,Iciency, when he was succeeded by the
present very able manager and cleo.
tficlan, Mr.. Reginold Trump, who has
,theld the position for several years and
,,Ewho has, by his thorough knowledge
'Iof the business and study OF electric
lily, been a very efficient and capable
manager.
! His father. Mr.. Samuel n. Trump,
has held the poeition of president fol
several years and has always (unti
/ lately) filled the position acceptably
! Ito those who held the controlling In
/ terest in the company Mr.. VIM. W.
. Pussy is Vice President. while Fer.
ildinand l.. Gilpin is secretary and
: Henry q. Robinson, treasurer The
stock OF tho company consists OF 5omt
is, 900 shares with par value OF Sol
. per share. 1t has been put on the
market from $50 up and has paid {
lsix per cent. dividend ever since iti
removal to West Fifth street.
= There Is floating debt OF som'
hif20.000 or more of the old Armour
2 Co, which was taken by tho Edison
: ompany at the time of the reorgani
AVIATION. and upon which interest hai
! 10 he pnid. The Company mas yet som'
1880 or 800 shares of stock on hant
i which it has been unable to sell fol
more than SAB u share, at which pric,
1 directors considered too low to plac,
i upon the market. They had agreed Il
Q Iput ii out at S45 per share. bat abou
4 that time the present financial Difficult
i ties took place. and the stock Is nov
selling at about $40 per share.
About one year ago the director
I, authorized the issue OF one hundret
I Thousand dollars worth OF bonds to ~
: Iplaced. drawing per cent, interest
for the purpose OF enlarEing the plant
, putting IN ntw boilers and dynamos
ms the works were too small to accom-
L modate their increasing business. Tn
{ plant las had to DO enlarged severn
:. times 10 keep up with its Increase
Z business. and IL Is now as well cor
9 jducted M any other plant OF its size i
i the country. .....".
lnetu has been movement for seN
c loral months past by humber of ger
i ltlemen who hold good,siZed block O
y 1.-The stock TO purchase enough add
:. Itional stock at the present low pic
g to give them control, and at the CON
IL ling annual election OF officers. whic
civil take place on Tuesday. Octobe
l2th, Il is said they intend to GUST tn
n present management and put othC
Il Olllrers in who they think Will be ab!
:, Ito enhance the value of the stocl
y. (which they think is selling too To-
!, for the interest 1t pays ON tho pl
=, value.
vi A prominent Young broker in OF
50 lefty has been buslly engaged for III
past few months in procuring proXle
to be voted at the election next molitl
T. and says lie has over the necessar
~ half to put in new aud complete So
u OF officers from president down. IL
~ present largest interest Is represente
e;lhy the Ii. ~ II, Co., and 1t is said thu
~ Messrs. Harry Cause, Samuel W. Nj
e. Caulley and George W. McCulloug
NJ will lie elected directors, and thu
II, Harry l.. Evans will be elected seer
tary and treasurer. and that III
Reginald Trump will be succeeded |
u new manager and electrician.
all The position of president pays $50
Il Electrician and manager $500 and Il
ne secretary $500. Tie salaries of office
# ARE reasonable compared with tho!
!, paid W similar concerns in neighbo
= ing cities.