Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1900-02-13
OUR EXPENDITURES PER MONTH ARE.
Net earnings per month. -.

| The foregoing monthly estimate of
expenses includes nothing for repairs,
but we have charged the entire salary
of the superintendent and the average
monthly wages paid during the past
year for our linesmen and all other
labor, including that on new construc-
ton and installations in this estimate,
even assuming that we shall have APP
proximately the same growth the COM
/ ing year, the labor of these employees
on such new work more than offsets
the cost of materials needed for repairs.
DIVIDENDS AND NET EARNINGS.
1t has seemed to your directors that
the financial condition of the company
fairly warrants the declaring of cash
dividend to our stockholders of ten per
cent, payable on or before March 1st
on this year, on the stock sold and
issued by this company prior to the 1st
of January, 1900, and subject to your
approval we have directed such divi-
dend to be paid. In this connection
we deem it of interest to report that
since we commenced business in
November, 1895, we have paid in cash
dividends to our stockholders to date
50 per cent on their capital stock and
this with the cash dividend of 10 per
cent. herein recommended makes 81
per cent. in cash dividends to our
stockholders during our existence of
four years and three months, an
average of nearly IL per cent. per
annum.
Our annual report of 1899 showed
that to that date the total cost of our
plant was $l3, ,517.99. To this we have
added during the past year, including
the value of material now on hand in
excess of that on hand one year ago,
at least $4,000, making the entire cost
of our plant to date at least 900. In
this we have not included the cost of
the new switchboard, for this may
fairly be regarded as chargeable to re-
pairs. And we believe that the con-
servative value of our plant as it
stands to-day is at least SIC, 900, and
that it could not be duplicated under
the present prices for that amount.
Including the 81, 800 paid for stock the
past year, we have received in all from
stock sales 81, 10000. The remainder,
SIS, $50, has been paid from our net
earnings. That is to say, we have
paid in cash dividends to date 50 per
cent. We have added from our earn
ings in the construction of our plant
$8,550.00, and we have now on hand
in cash and good accounts receivable
81 ,404.6
If we were content to confine the
growth of our company to the city OF
Wausau, it may be that we could
afford to make a further reduction
in our telephone rentals, there is
however, as it seems to us, room
for growth and for improvement of our
service. In our previous reports we
have recommended that special atten-
ton should be given to building lines
from the city into the country in all
directions where they will reach thriv-
ling communities In our reports oi
| 1898 we stated, eve believe that this
will not only be of value from mater
ial standpoint, but that it will largely
increase and promote good will and
friendly feeling between the city and
country 1t brings us into closer con
tact, for it reduces distance to the mini
num-" Considerable investigation has
been made by your directors and by
the committee appointed by you two
years ago, and continued during the
past year along these lines, and we re
commend that there be a full discus
sion in this meeting in relation thereto
In closing this report we wish to
express our hearty thanks to the citi
zens of Wausau and the stockholders oi
this company for the cordial support
they have given to us in the past, anC
which we know will be accorded to oul
successors.
Respectfully submitted,
N. HEINEMANN,
II. p MAYNARD,
W. w. ALBERs,
g. d. JONES,
JAMES MONTGOMERY,
Directors.
On motion the report was accepeC
and ordered placed on file.
After discussion, in which a lar2,
number of the stockholders took part
it was voted to leave the stock books
open for subscription the full limit o.
200 shares, without any advance in price
Also that money received from sales o
stock should be used in building new
extentions into the country under the
direction of the board of directors.
The following board of directors wer'
elected:
DIRECTORS.
N Heinemann, g. ID. Jones, w. w
Albers, James Montgomery and E. b
Thayer.
Adjourned.
OFFICERS.
The directors met Immediately aftei
the adjournment and elected the fol
, lowing officers
President-N. Heinemann.
Vice-President-E. b. Thayer.
Treasurer-W. W. Albers.
| Secretary-James Montgomery.