The Washington times., 1910-09-13

To the stockholders OF Jiie ~ asuluB tCi
Cas- I-iguJ Company
Notice Is hereby given that a special
meeting OF the StOCknOlQcrS oL IN
washington Gas Light company i Il
called by the Board or Directors Of thaJ Il
Company To-'. ana Will De held Oh, trl-
uay, the four -eenth day OF October l5lv 4
at j o'cIOCk III, at the principal ONCE I
OF the Company, No. As Tenth Street 4
northwest, III the City CT Was nlngton- 1
ID. g., to transact SuCh business as MAJ /
properly come before said meeting, and I
especially 10 consider and approve or !
otherwise act upon the following prOpO- /
sitiOus.
ID shall the Washington Gas Light
Company continue its practice hitherto /
of declaring regular quarterly DIVIDENDS
TO its stockholders from its net earnings.
al the rate Of ten PER centum per anuuTn
upon its authorized capital OF SZI0yJsyvJs
which capita llZatiOn was made many
years ago, and does not now adequately
represent the fair value Of the property
OF the Company used by IL for the Dene-
1T Of the pubic under the provisions OF
the Company 5 charter, and It's Iurtnef
practice of declaring extra dividends
from its undivided profits; OF, snail II
IN future distribute among its stock
holders. IN the proportions 10 which they
are respectively entitled, the net annual
earnings OF the Company after deduct
ing from It's gross earnings all proper
expenses of administration and Of the
conduct Of its business and the sums
necessary 10 pay interest upon its bonds
ana certificates OF Indebtedness, to
I
cover depreciation In dividends to an
amount aDprOXimating six Pc centUm
upon the fair value of the prop--ty used
by the said Company for the benefit Of
the public in supplying gas uLder It's
charter. assuming that the said net earn
irgs snan be sufficient to Justify said
dividends
o.. Shall the moneys needed annually
for extensions Of the COmpauy's mains
and other expenses generally classed as
petterDenls' be paid out OF the earn
I ineS of the Company, or shall such
moneys hereafter be raised by a bond
issue OF issues secured by deed OF trust
upon all Of the Company-s property
which il is entitled 10 embrace IN such
deed OF trust, said bonds Co be sold for
not less than par. and the proceeds
thereof TO be applied exclusively to said
bettermentS2
90 Shall the company refund its out
staEdine oJnds now bearing four per cen
tum interest. amounting 10 approximate
y 100000 in round numbers. and also
its outstanding dividend certificates OF
in6c cbtedness bearing six per cent? N in
tereSts amounting TO S2.bH,HJG, which
certificates Of Indebtedness are now pay
able at the option OF the company by
a new bond issue, secured by deed Of
I trust upon all OF the property Of the
company which = Is legally entitled TO
embrace in said deed or trust. said
bCTGS 70 bear interest at the rate Of FIVE
! per centum per annum. and 20 be paya-
bic at such me OF times as the said Sd =
ca. uItt ng Of the stockholders herein
contents OF the said bonds and also OF
I the said deed OF trust to be approved
by a meeting Of the directors Of the
/ com pany subsequent TO the said stock
| holders meeting, but in any event 10
1 contain a stipulation waving the stat
utOry personal responsibility Of each
/ SIOCkhOideT for the payme1- Of the said
I bonds and expressly stipula-inE that
/ holders Of the said bonds shall rely only
| upon the security embraced IN l1e said
deed OF trustE Further IN the event
/ that the said stockholders meeting
shall determine that future oerteruents
shall not be paid out Of earnings. hut
shall be financed by a bond issue. snail
/ the issue Of bonds contemplated in this
proposition be Increased and If so, 70
what amount. for the purpose Of dnanc-
/ ing said bettermenJs required in the
/ near futUre2
| Il il is not thought expedieut 10 re-
/ fund the sail issue Of S2.5ttya0 Of divi-
. den certificates Of indebtedae=s IN the
{ manner Text hereiubefore provided shan
I the said total issue Of dividend Cs-Tifi-
/ Gates Of Indebtedness be paid with inter
/ est 10 the date Of payment by the pro
/ ceeds Of the sale in open market. for
I not less than par, Of S2,p11,u9 OF the
| said new bonds or Of so many Of said
/. bonds as may be required Sor ine pur-
I pDse7
II it be not thought expedleut 20 sell
t the said S2,61o.091 face value Cf the 50 IA
/ bonds in open market. snail 50 many
Z OF the stockholders OF the company at
I a given date as shall aval themselves
1 Of the privilege within limited time
I be entitled 70 subscribe and pay for the
said bonds at their face value. said
I privilege Of subscription and payment
E to be proportional TO the holdings Of the
/ respective stockholders snail said
/ privilege next hereinbefore referred 10
I apply also TO so much Of said new issue
/ OF issues Of bonds as shall be required
( for financing bettermentSE
All subordinate propositions en-
/ braced in and pertinent 10 the said
I main propositions above stated snail
TO the necessary extent, be considered
/ and acted upon by the said stock
/ holders meeting
! According 10 the charter and bylaws
Of the Washington Gas Light Com
pany. only such stockholders are allow
I ed TO vote at any meeting OF the stock
holders as shall have been holders OF
I the certificates Of stock Of the said
I Company in their own and proper
I names fOY the period Of fourteen days
previous TO any stockholders meeting
In order that all stockholders may
/ have an opportunity to have their stock
thus REGISTERED in the books OF the
/ COmDan-. the stock transfer books of
/ the Comrauv will be closed at close Of
business at 3 2. III on Thursday, the
18th dav Of September, 1910. and VIII
] remain closed until the close Of bust
ness at . m on Friday. the 18th day
as aforesaid who shall be such at the
I close OF business on said 18th DAY Of
/ September. 1910, viii be entitled TO vote
at the special meeting Of the stock
l4th dav Of October. 1870
| The polls viii be open from = O'Clock
m until ] o'clock p m
EOAFD OF DIRECTORS OF THE
WASHINGTON GAS LIGHT COM
TANY
WILLIAM 3. ORAIE. Secretary, Wash
1 n