Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-03
RADICAL MEASURES
NOT NECESSARY TO
HOLD U. G. |. ASSETS
Securities of This Distinctive
ly Philadelphia Enterprise
Maintain Their Stability
Because of Its Capable
Management.

When shareholders, on October is, re-
ceive checks for current dividend Of the
United Gas Improvement Company they
will have reason to congratulate them
selves that their money is invested in a
concern which did not find it imperative,
because of the disturbed financial con-
ditions, to conserve its cash assets by any
radical measures
OF the long list of enterprises financed
by Philadelphia capital the United Gas
Improvement Company is among the best
known, not only because of its success,
but largely on account of the conserva-
tive and capable management which has
made such success possible. In the bus
iness world the company has earned an
enviable reputation, and is considered
one of the strongest corporations of it's
kind in the country.
Any of our citizens visiting in Concord
N. H.. Sioux Falls, S. D.; SYRIA
cuse, n. Y, or Pensacola, Fla, would
probably be led to comment on the ex-
cellent lighting service in those cities.
and, indeed, would be still further sur
represented Philadelphia capital and en-
terprse.
PHILADELPHIA ACTIVITY
In the present troublous times it might
be we'll for Philadelphians to take cog
nizance Of their various activities and to
more particularly realize the Importance
of the part played by our leaders Of A.
In ha
the exchanges of the world closed and
investors figuring as to the intrinsic worth
of their securities, it is interesting to
note that securities listed on the Phila-
delphia Stock Exchange have suffered
less probably than those on the New
York board. The reason for this is OBJ
vious. For some time past there has not
been much speculation in Philadelphia Sc
curities. They have gradually been
passing into hands of purchasers who re-
gard them as permanent investments, and
who are not apt to part with them on any
little market fiuctuation.
The United Gas Improvement Companv
was organized June /, 1882, and reorgan-
lied May s, 1885. under an old special
charter of an omnibus character. II Is
not surprising. in view of the privileges
conferred, that the sagacious Phiadel-
phians connected with this companv
have achieved their unprecedented sue
cess. However, they have stuck pretty
close to the building, purchasing, leasing
and operating of gas works and electric
lighting plants, and at present operate in
about 40 cities, extending from Concord
\. H., to Pensacola, Fla, and from
Philadelphia to Sioux Falls, S. D.
EARNINGS ARE LARGE.
The raising of the capital from Sl1.5OO =
900, which this company maintained
in 1897, to $55.5O2,9OO the present figure.
has caused the stock to sell in the mar
ket for less than 1t did in the earlier
days, but it apparently now earns s7,471,-
107 per annum on the present capitaliza-
tion as easily as 1t earned 81, ,424 300 on
the capitalization in 1897. During this
period the stock has furnished the
brokers on the exchange with some ex-
citing movements. Between the years
1897 and 1902 it moved between the limits
of rs, the maximum and 7O7s, the mini
mum. During this period, however, II
gradually began to be recognized as
what is commonly known as an invest
ment" issue. rather than speculative
Such market movements have become
more and more limited until. in the pres
ent year, they show only six points be
tween the high and low, which is Sc
and so.
The policy of the company in the past
has been committed to keeping the dIvi-
dend a per cent, although it is we'll
able to pay 10 per cent. conservatively
the earnings for the last four years be-
ing on an average of about 13 per cent.
However stock allotments have been de-
clared from time to time, which has in
creased revenue of the stockholders sub
stantially.
The last OF these extra disbursements
was i'm March, 1910, when an extra stock
dividend OF 10 per cent. was paid At
the present price, close to so, the cash
dividend annual return is per cent,
while the stock subscription privileges
attaching to the security from tine TO
time have in the past greatly enhanced
its value to the holder. With balance
at the present time in the profit and loss
account of more than s27 100000, il would
seem, therefore, that holders of this Se-
curity. need have no apprehension because
of the present generally disturbed finang
cial condition.
BROKER.