Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-02-11

the decrease in revenue. as compared
with last year. in December showed
2.14 per cent. the decrease in revenue
for January. so far as the daily reports
compiled Indicate is 4.05 per cent,
which Indicates falling off in revenue,
as compared with last year. that Is n
matter OF some considerable concern to
the management.
IF these statements are correct, it
is improbable that dividend can be
paid during the year 1922. The un-
dcrsigncd directors hope that conditions
may improve so that dividends may be
possible. but they would be untrue TO
their trust if they did not make these
facts known to the stockholders and to
the public. who may be mislcd into buy
ing stock in the expectation of receiving
dividends which may not be paid.
THE undersigned directors. repre-
scnting The stockholders. have not en- =
tered into any contest for proxies and
do not intend to do so. They consider
they have performed their full duty in
laying these facts before you. If the
stockholders. knowing the facts, desire
to continue the management as at
present. they have the power to do it.
We have every confidence. however, that
you will send your proxies to your di-
rectors. who, with your support, will
exercise the power vested in them for
the following purposes:
First. To continue the business of
the company under the same officers SO
far as possible.
Want Changes in Bylaws
Second. To make changes in the by.
laws so that the Board of Directors
shall have its proper share in the man.
agcmcnt and control of the affairs of The
company:
confidence and good will of the city Of
! tcials and of the public, so as to max.
prompt agreement for the operation
of the Frankford elevated.
Fourth. To develop plans for bette,
service to the public.
Fifth. To continue the presen,
working agreements with the men an(
! to continue and strengthen the coop
e"ation between men md ndnag". .n"'i
so that they may work together for the
common good of the city, the men ant
the stockholders
sixth. To institute O. onomies in tn
operation of the company. including {
consideration of the compensation pniC
to the president. which. so far as youl
7 directors uTc kUNlStu, HOW uuOuUlS u
At least Sl5S GOO Il year.
Seventh. TO resume dividends 50
soon as the finances of theJ compalI,
justify it. with the hope that in du
time omitted dividends on this stocl
may be made up to the stockholders.
I'VE inclosr n proxy which You arr
requested to sign, with one subscribing
witness. and return in the incloscd en-.
velope to William Y. Triple, 1875
Chestnut street Philadelphia.
I'VE are advised by counsel that th'
proxy heretofore sent you by the Off
GERS of the company, without the an.
thorization of the Board Of Directors
will become ineffective (although yol
may have signed it,, if you now sig,
and return the inclosed proxy, bearing ,
later date.
JEREMIAH J. SULLIVAN.
Land Title Building.
"WM. y. TRIPLE.
''132S Chestnut street.
"CHARLES J. MATTHEW'S,
~ Arch street.
PRANK BUCK.
1900 North Fifth street.
"WM. j. MONTGOMERY,
"Northeast corner Second street an,
Girard avenue.
"Phiadelphia, February II, 1922. "
A Question Unanswered
Mr.. Triple. an attorney and one q
the insurgcnt directors. was told thi
afternoon Of the vigorous movement o
the T.. II. T. stock and of the fact thn
10000 shares had been bought by til
employees.
That is only small proportion u
the company's GOO, 900 shares he re
piled.
How much Union Traction stock 4
YOU own?" he was asked.
You can ask the question, but
won't answer it, he said
'IIow much i. Il. 7. stock DO 20
own"
Il will give the same answer to tina
question: he replied.
L. Il. Il. stock to the number Of H.,
T4J shares changed hands today, includ
; ing three blocks Of 200O shares eac
ut 23l., 23M and 237s. Anothc
, block of 1000 shares went just befor
closing at 237s. The opening prlc
was 23H, compared with BIS la,
night, but the stock was quickly bi
up to "a, or within a of the high pric
, of the year made last saturday.