The evening times. [volume] (Washington, D.C.) 1895-1902, 1897-04-22
DIVIDEND MAY BE PASSED.
Probable Action Concerning the b.
q o. Washington Branch.

d o. Washington Branch.
Baltimore, April % Directors of the
Baltimore and Ohio Railroad assembled
at the Central building yesterday to hold
meeting, but owing to the absence OF a
quorum this was not held. 1t was decided
to postpone the meeting until today.
statement was presented TO those
who attended relative TO the Washington
branch. This showed that the branch,
which has paid semi-annual dividend Of
per cent for long term of years, has
not earned d sufficient sam to pay the
dividend which ordinarily would be pay
able on May /. While no action was taken
on the subject, it was The impression that
at the meeting today the dividend will be
passed
The cause assign ed for the failure of the
branch to earn this dividend was extraor-
binary expenditures made in relaying
the line from Relay to Washington with
new S5-pound rails New switches and
frogs have been put in, and the double
track for distance OF thirty miles placed
in splendid condition Work that has been
done brings the road up to the highest
physical standard and as it's OF perIna-
nent character it is believed that no fur
Their expenditure of unusual amount for
maintenance will be required for many
years The new rails replaced rails which
have been in use from seventeen to
twenty years, and the Improvement was
considered necessary to properly handle
the business offered
There has been expended about $4,000
in making these improvements. As the
semi-annual payment on account of the
regular dividend would amount 10 Se3,5CO,
the outlay for betterments exceeds this
sum- Ii is stated that the business of
the Washington branch has not only been
up to the standard, but the net results
for the last six months show an increase
of about $4,000. Under such conditions
ii is beneyed thatif the dividends passed
payment win be resumed in November
next.
Those WHO wcre at the meeting were
reticent about what had occurred, and no
information was obtainable at the Cen
tral building. President and Receiver
Cowen was too busy to be seen, but in
reply to q written question submitted to
him whether the dividend had been or
would be passed, he sent back the reply.
mo action has been taken.
OF the capital stock of 81 $50 eco OF the
Washington branch, the State OF Mary
land owns $3.50 900, which for number
OF years has been among the productive
assets Of the treasury. yielding annually
the sum of S55, COO The Baltimore and
Ohio Railroad Company owns 81 .G2S, 600
Of the remainder, which il has pledged S
a part Of the security of the con solidated
balance OF $4,000.
Since the recciyership but few meetings
have teen hel1, as the property is in the
hands OF receivers, who practically look
after all the duties usually handled by the
directors when the company was in a
solvent condition. While yesterday was
the day OH which the regular monthly
meeting would have been held, owing TO
the present state of the property, the di-
rectors are only called together when
something of special importance is to he
considered.
Receivers Cowen and Murray filed in the
United States circuit court yesterday their
reports of receipts and disbursements dur
ing the mon h OF February last T he reports
show the following:
Receipts aIance in general treasury &C
count. February L. S223, 591 81; traffic re-
ceipts, So. 1885,; miscellaneous re-
ceipts, $303,4 81 Total $2.S04,-
S4043
Disbursements Traffic payments, $34a,-
626. 10: miscellaneous payments, S2,092,-
500 81: total, S2.433,62 10; balance on
hand February %, 1871. 214.27.
Receivers Certificates Series No l, ball
ance on hand February 1, $345.727 %: eX-
pended during month, S122,732. SO: bal
ance February 2s, S222, 994s6.
Series No. 2, balance February l, $266.43:
sales during month, $101 200: total, $101,- |
266 43: expended during month, SOL |
$50 90: balance February 2S, S39,676. 90 |
Series No. 3. Pittsburg and Connellsville, |
balance February /, S576.72O: expended |
during month, SS,21S. Al; balance Febru- |
airy rs. S56S. sol 56.
Terminal Improvement Fund balance |
February /, $50, 1927 90; expended during !
month S2S. 667 70; balance February IS, |
sos ,660,11,