The morning times. [volume] (Washington, D.C.) 1895-1897, 1896-03-04

10 lac the usual and customary dividend OF
the company
Mr.: orme-0h, no. the company pays as a
usuai dividend ~ per cent per annum. II
paid that 100000 extra on the 25th of
July, 1895. in consequence of the sal of
these bonds that had been owned by the
company as an investment for many years.
and which they had no use for at the
time.
The Chairman-Will YOU please state
TO The committee what the dividends, regular
and customary. were in 1895?
Mr.. Orme-The regular dividend was 10
per cent on The par value OF the stock
You understand that the par value of a
share Is $50. There was one dividend of
100000 and one of $500 900.
The Chatrnlan-In 1894?
Mr.. Orme-A 10 per cent dividend
The Chairman-That was all?
Mr.. Ormc-That was all.
DIVIDENDS IN 1898.
The Chairman What dividends We're paid
I'm 1898?
Mr.. Ormc-n 1898 we paid % per cent.
We paid dividend OF So share on the
J 81 Of May. 1898. and we paid dividend
of So a share for the remainder of the
year.
The Chairman Making % per cent.
Mr. OrMe-N eS, sir.
The Chairman-Of $500 900?
Mr.. Ormc-Nes sir: that was Il matter Of
record. but think that is the amount
The Chairman-The facts were given be-
dend. hut we had not the figures before
AS Then the fact is that in 1898 YOU
paid 20 per cent. in 1894 YOU paid 10 per
cent, and in 1895 YOU paid 80 per cent.
Mr.. MtlneS-Wcre 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 any abnormal
condition existing in l 1913 10 enable YOU
10 pay dividends Of % per cent?
Mr. prme-If the committee will allow
me. viii say that | think il was In 81 3
that Mr.. George A. McIlhenny succeeded
Nj. IL. Ii. Bartol as president of the Wash
inEton GaSlight 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 Out in those two dividends repre-
sents the savings OF about twelve wears.
Mr. Milnes-It is undivided earnings?
Mr.. Orme-Yes, sir.
Mr.. MilneS-From $50 to 1892?
Mr.. prmc-From $50 10 S94. inclusive
OF that last dividend.
The Chairman-Including the dividend of
1872 and previous years?
NJ. Orme-It Includes the 10 per cent
dividends back to 1883. | think.
The Chairman-The next item is interest
on bonds. So 600: then follow the items
for gas engine and stoves. Sl9S.53; en-
nloyeS relief association. S5S5.60. and
here are 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. S15O.32: wages.
Sl,l6l.S7; hauling and freight, S10.i1:
Chesapeake and Ohio Canal Company for
wharf and mole property, 100000: abb
Stract OF the title. $252.75; meters, So
9S2.95: new holders. east station, etc.
S65.7S6.4 40. New oil tanks. S2.160.72;
office extension. S66.S5 and sire ct
mains. So ,609.36. Please explain TO the
committee those different items.
EXPLAINING PURCHASES.
Mr.. Orme-Thc first item for lumber,
brick stating, cement, etc, was for the
a the west station. The next item is for
the same purpose, large pipe and bends
for cOndensers, 81 ,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 Chesapeak Ike
and Ohio Company for wharf and mole
property. and abstract of title TO same,
S252.75.
The Chairman-Pleas explain for what
purpose that purchase was made.
Mr.. Orme-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
such as to render IL untenable under Certa in
conditions. so we purchased il as a good
business move, because eiectment from it
would mean the destruction of machinery
and buildings thereon.
The Chairman-YoUp urcha sed il as an in
Yesiment?
Mr. orme-Yes, in order TO preserve the
integrity of the plant.
The Chairman-Thatw 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 1895, and is not included mean
as regards the price OF manufacture. Then
the item OF So, 9S2.95 is for the purchase
OF meters.
The Chairman is in the new ex
tension?
Mr. Ome-No, sir; that was for the pUr-
chase OF meters to go into peoples houses.
The Chairman-Th is included within
the bracketed words Extension OF works."
Mr. Orme 1t would amount to an extern
sion OF the plant.
Mr. Milnes-I want 10 ask you about that