The evening times., 1896-03-04
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The Chairman-The next item is div
dends, 100000.
Mr.. Abbott Does not that appear as
Mr. Orme-No, sir.
MIR. Abbott-lt does not appear as chargc'
twice?
MIR. Orme- No, sir. After the items 70
| coal, oil, wages and distribution. etc, W.
had To make Il number OF accounts III orde
to know exactly how we are going to stan'
III the different departments, so as to h
able to reduce EXPENSES in any rarticula
department il possible.
| Mr.. Abbott-That is the reason why
| asked the question aztec your statemen
that the distribution covers the whole fiel,
after he ga the lea YES the holder.
Mr.. Orme- They are all separate and dis
| tnct items.
| the committee something about this item o.
| 5000 900 for dividends? That | under
stand 10 De 80 per cent on the stock ant
to be 'hc rsual and customary dividend o
the company.
Mr.. Orme-Oh. no. the company pays Is d
, usual dividend 10 per cent per annum. ],
paid that $500 900 extra ON the 25th OF
July, 1885. in consequence OF the sale oi
these bonds that had been owned by the
company as an investment for many years
end which they had no use for at the
| time.
The Chalrman-will YOU please state
to the committee what ; he dividends, regular
ana CUSTOMARY, were in 1895?
Mr. Orme-The regular dividend was 10
J Pti wit pii par Nultlt oI IIlt STOCK.
You understand that the par value OF q
I share is $50. There was one dividend OF
500. 900 and one of $500. 900.
! The Chairnan-ln 1891
Mr.. Ormc-A 10 per cent dividend.
| The Chairnian-That was all?
Mr.. Orme-That was all.
DIVIDENDS IN 1893.
| The Chairnian-Whatd dividends were paid
! in 1898?
Mr.. Orme-In 1893 we paid 90 per cent
We paid Il dividend OF So a share on the
| lst OF MAY. 1893. and we paid a dividend
or - share for the remainder OF the
/ year.
The Chalrnifil-Makins % per cent.
| Mr.. Orne-Ses, sir.
! The Chairman-Of $500 900?
Mr.. Ormc-Yes sir; that was a matter of
| record. but think that is the amount.
The ChairnIan-The facts We're given be-
fore the committee in 1893 as 10 that divi-
! dend. but we had not the figures before
us Then the fact Is that in 1898 you
| paid 20 per cent. in 1884 you paid 10 per
| cent. and in 1885 You paid 80 per cent.
| Mr.. Milncs-Were there any bonds sold in
| 1898?
Mr.. Orme-I should have TO answer from
memory; perhaps there. were: / can not
| say.
| Mr.. Milnes-was there anv abnormal
condition existing in 1893 to enable you
| TO pay dividends OF 25 per cent?
| Mr.. Orme-If the committee will allow
| me. will say thatI think it was in $50
| that Mr.. George A. McIlhenny succeeded
Mr.. B. II. Bartol as president OF the Wash
| ington Gaslirht Company. and during his
administration. from that time up to the
| fall Of sS2. when he died. there was no
extra dividend paid. The money that has
been paid ont in those two dividends repre-
sents the savings of about twelve years.
Mr.. Sfilnes-ft is undivided earnings?
Mr.. Orme-Yes. sir.
Mr.. MiInes-From 1883 TO 1892.
Mr.. Drne-FrOm 1853 to 1894, inclusive
Of that last dividend.
The Chairman-Includinc the dividend OF
1899 and previous years?
Mr.. Orme-lt Includes the 10 per cent
dividends back To 1883. / think.
The Chairman-The next item is interest
on bonds, $4,000: then follow the items
for gas engine and stoves, Slss.53 EN-
ployes' relief association. S5S5.6O. and
here arc several items included within
brackets under the head OF extension OF
works. such as lumber. brick. stating.
cement, etc, $4,000; large pipe and
fittings and small pipe. 81 5O.32: wages.
S1,161.s7: hauling and freight, S7O.4l:
Chesapeake and ohio Canal Company for
stract Of the title. s25275: meters, ss,-
ss2.95: new holders. cast station. etc.
500 .7s6.40. New oil tanks, S2.160.72:
office extension. S66.s5. and street
committee those different items.
EXPLAINING PURCHASES.
Mr.. Orme-The first item for lumber.
brick, Stating, cement. ETC., was for the
erection OF a mouse over the COnuenserS
at The west station. The next item is for
the same purpose. large pipe and bends
for condensers. 81 i 134.21. Iron fittings and
small pipe Were for the same purpose.
where it was new work. We were not
replacing old material. The hauling and
freight and wages entered into the new
extension of works. because we used our
own men at the west station. Then there
is the item OF 100000 TO the Chesa pea Ike
and Ohio Company for wharf and mole
proDertv. and abstract OF title to same,
S252.75.
The Chairman-Please explain for what
purpose that purchase was made.
Mr.. Ome-It was purchased for this rea-
son: Part of our works are on that ground,
some OF the very important buildings. We
had had that property under lease, but the
lease was very precarious, the terms being
such to render 1t untenable under certain
conditions. So we purchased 1t as good
business move, because eiectment from it
would mean the destruction OF machinery
and buildings thereon.
The man-You purchased 1t as an in
vestment?
Mr.. Orme-Yes, in order to preserve the
integrity of the plant.
The Chairman THAT was not part OF the
necessary operation of the gas plant for the
year 1895.
Mr.. Orme-It does not enter into the ex-
penscs OF s95, and is not included-I mean
as regards the price of manufacture. Then
the item OF S3,9s2.95 is for the purchase
OF meters.
tension?
Mr.. Ome-No, sir; that was for the pur-
chase of meters to go into peoples houses.
The Chairman-That is included within
the bracketed words Extension of works."
Mr.. Orme-It would amount to an eXten-
sion of the plant.
Mr.. MilneS-I want to ask YOU a bout that
dividend item OF $500, 900. You have been
enabled to pay 10 per cent dividends annu-
ally in addition to the 20 per cent dividend
in 1893 or 1894, besides the 500, 900 that's
is that so?
Mr.. Ome-Yes. That was part ofthe same
fund that 1 spoke OF, and ended it-that
accumulation.
Mr. Mines-That was part OF the accumu
lation for that year?
Mr.. 0rme-Yes, sir.
Mr.. Milnes-Besides the extra dividend
that was paid?
HOW THEY ARE CHARGED.
Mr.. Orme-Yes, sir. The new holder at
the east station, etc. did not cost $65.-
$40, because included in the east station
works are new oil tanks costing SO, 1GO.12..
That was braDd-new work, part of the
plant.
The Chairman-Areth there any other items?
Mr.. .Orme-The street mains are the mains
In the streets and avenues in the CITY,
The Chairma state whether those
are new extensions or 10 replace Old mains
Mt. Orme-Those are brand-new extern
oSSsSSSSSSSSSSSSSSSSSSSSS
Z FOR FIFTY YEARS! 3
3 MRS. WINSLOW'S &
< SOOTHING SYRIIP 1