New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-13

San francisco. D~ccmtcr H. 1904
vt,yT 70 y.sfs -. ~
THE WESTERN UNION DIVIDEND.
Wednesday. December Up. n

Wednesday, December Up. m
The directors Of the Western Union Telegraph
Company at their regular meeting to-day de-
clared the usual quarterly dividend Of u. per
cent payable January 10. 1895. The statement.
on its face, was better than was expected. The
actual earnings in the September quarter were
sl3.563 larger than estimated. The estimated sur
plus for the current quarter is sl65.2o0. agains,
an actual surplus for this period in 1893 Of s63,
S71. The estimated total bookkeeping surplus
on December 81. 1894. is 1851 66s CHANGING back
at the annual report for the year ending June
80 1894. published in October, We notice
that the statement OF the company there
In Is to the effect that the cost for ad-
dtions 70 the property. amounting 10 Soo'02l "a.
and expenditure Of $55.1l2 %. In completing
the enlargement and remodelling OF the com
pany's building at Chicago were paid partly
out OF the surplus OF the year. and partly out OF
the proceeds derived from the sale OF some OF the
companys securities; yet the balance-sheet In
that report does not show decrease in surplus.
and the whole amount Therefore, appears 10
have been derived from the sale OF securities. and
added TO the cost Of the plant. Had TINS whole
amount, 500 1874. been taken out or Inc revenue
there would have been deficiency OF $46J,92O for
the year instead Of surplus Of *l2osH II is Of
course. question whether these additions were
improvements which should be charged to ex-
penses new property with increased
earning POWER However. deducting the $4S3.9zO
from The apparent total bookkeeping surplus OF
the company, the actual total bookkeeping sur
plus IL %5l77l3. instead Of $7.0O163@; and the
total bookkeeping surplus at the end OF the cur.
rent quarter would be s6$525lS against s7272O5l
at the same date In 1854 decrease Of S9i3o5o,
instead Of gain or $279.6l7.
The following is comparison between the es-
timated and the actual earnings In the Septen-
Der quarter:
Ne, recep,............ , .iscooS sisis5Os
rn, "ssss' or bonds .,sssseo 5000,
Sinking fund 2o0" .o.. ran 1881 ,o,o 30,
Net revenue .......... sla56jOo &i3l3 nS
Less div. AT II. per cent Iio''o'' i'''i''--
s,,,,u. for ouar,er s37I4Gs s3sI.2iG
Appended is another table which. using the
published figures. compares the estimates for the
current quarter with the actual returns IN the
same period last year:
Quarter ended Dec 81 Actual y3 EstlIna ca ~,
Interest bonds. 2l2 s2 22 $40
Sinking fund. ........... 2ooo ..... V'W" .o.o CON
Net os n, Der cent 'I7 1854 'a ls52 100
Surplus for quarter. ses.s7l $1,000
Add surplus for Septem- . ~
Der quarter i'-'',i" '"''1"'
,r,., .,,r,,,. s7c72ouI .s75jI66s
'Or $6S52ai3
During the September quarter the telegraph
lines and property Of the American Rapid Tele-
graph Company were purchased with $500 shares
1880 900 par valued Of the capital stock issued
out OF the increased stock that was authorized by
the stockholders on October IL. 1892 There now
remains in the treasury only $500 0O0 out OF the
total increase to the capitalization Of s1SsOOooo
ON THE STOCK EXCHANGE.
The market was fairly firm all day. and decid-
edly improved at the close. This was largely due
10 the encouraging vote upon the Pooling Dill IN
the House yesterday. which Is believed t. increase
It's chances of passing the Senate London buying
in this market and the advance in London prices
were due To the same cause. Another favorable
influence was the Increased probability that the
talk simply for effect. Of course) In washington
about reducing the sugar duties Will soon ciose
Cor m, season These things Offset any POSSIBLY
denre.sine effect which the great probability OF
eoid exports on Saturday might have been eX-
pected have and II II be true tnat me must
hn aid that the condition Of the market Is not
S,.eomra rins Final prices were about the same
W ~ Eridav last when II was generally ad-
as 90 mai the situation better. The 0ran-