The Portland daily press., 1897-05-20
DIVIDENDS ORDERED.
The GAS Company Will Distribute
Some Of It's Surplus.
NEARLY ALL OF THE STOCK VOTED
AT TIE MEETING YESTERDAY

How the Dividend Was Broug hit About
The Directors Ammo unce That They De
sired the Stockholders to Settle TIL,
NEUTRALITY-SUSPICIOUS. and Answers Abou
inc Company's Affairs-A Session
AsWhich Lasted Until Dark The vot,
Was Close.
The Portland Gaslight company will
pay special dividend of S125 share ant
as the owner of 100 shares the City o
Portland will receive $40, 500. The divi
dend is at the rate of so per cent, the pa,
value OF the shares being $50. The agita
ton over this question of the payment of /;
special dividend resulted in a large attend
ance at the meeting yesterday. The whole
number of the shares and capital stock il
o,9o6, and of this total, 6,340 shares were
represented in the meeting. In favor of {
dividend 3198 shares were voted; $685.
against. Among the gentlemen who were
present as shareholders or the representa-
tives of owners in the company were
Messrs. Edward H. Dayeis, the president
who presided, Samuel Rolfe, the treasurer
Mayor Randall, Aldermen Pagan and
Rounds, W. W. Mitchell, HI. S. Osgood
Edward M. Rand, George T. Emery,
John A, Emery, Albro E. Chase, Harry
r. Virgin, president of the Common
Council, Charles S. Fobes, Sidney W.
Thaxter, Charles H. Boyd, Everett
Smith, William r. Wood, Fred N. Dow,
William Il. Moulton, George W. Yer.
rill, A. W. Pierce and Edward HI. Yorke
The meeting was called to order at
three O'Clock by President Daveis, who
read che call and then began the reading
of his annual report. At this point Col
Fred N. Dow said that question had
been raised by gentlemen sitting near
him, whether the amount of stock repre-
sented should not be ascertained.
| Mayor Randall moved that committee
on credentials should be appointed to
consist of Messrs. Harry R. Virgin, Sid
ney W. ThaXter and Fred N. Dow.
Col. Dow said that when he raised the
question of credentials he had no knowl-
edge of the Mayors motion, or of the fact
that he was to be named as member of
the committee. He made this statement
motion in justice to himself
The motion prevailed and the commit
tee retired after getting a list of the
gentlemen present who voted their own
stock and collecting the proxies. There
were proxies enough to fill peck meas
ure, and they gave the committee lots of
trouble SO that these gentlemen were
closeted in the presidents office until
after five clock. This delay was not due
to infornalities in the proxies. The com
mittee found that in many cases proxies
given some time ago had been revoked by
the issuing of later proxies by the same
stockholders. In these cases, the proxies
OF the earlier dates were thrown out The
committees long session was in the main
due to the labor of comparing proxies
representing several thousand shares with
the stock lists in order to verify them.
During this two hours wait, only one
piece of business was transacted That
was the passage of the following resolu-
tons on the death of Mr.. William Yorke,
for many years the company's chief engi-
neer:
Resolved: That in the death of Mr..
William Yorke the company has sustained
a great loss. He long and ably served it
as its superintendent and engineer.
Thoroughly devoted to it's interests, his
zeal for the company increased with the
years of his service. Quiet, unobtrusive
and retiring in disposition and in recent
years great sufferer, he yet kept himself
always in full touch with all that made
for progress in his profession. To his
comprehensive knowledge of everything
pertaining to his chosen field of labor; to
his sound Judgment and marked practi-
cability, and above all, to his painstaking
supervision Of that portion of it's affairs
committed to his care, the company has
been greatly indebted.
Resolved: That the clerk be directed to
spread the above upon the records of the
company, and to furnish copies thereof
for publication in the daily papers.
During the long wait for the credentials
committee, considerable amusement was
caused by the arrival of the evening
papers containing the report of President
Daveis, which the meeting had not yet
heard. Many of those present took this
opportunity to find out what the president
had to say. The committee appeared
SnOrUly dIuer i've CLOCK ana reported as
follows:
Whole number of shares, 6,9S56
Represented by holders, 2,501
Represented by proxy, 4,010
Subsequently on motion of Mr.. Virgin
the report of the committee was amended
by deducting III shares from the number
by proxy. After making
this deduction, the report of the committee
showed 6,340 shares represented out of the
total of $3.50, there being represented by
proxy 1880 shares. The III shares thrown
out were shares in the treasury repre-
sented by Samuel Rolfe, trustee.
Then the meeting got down to business.
There was considerable talking but no
controversy as it was announced at the
outset that while the directors were OPP
posed to the payment of a special divi-
dend at this time, they should be guided
by the wishes of the stoclkholde rs. Presi-
dent Daveis said that the directors pre-
ferred that If vote in favor of the divi-
dend was passed it shou1d he in the form