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From: "Alan Longbottom" <>
Subject: [SOUTH-AM-EMI-L] From Electrical Review 1891 Pt 6
Date: Tue, 29 Dec 1998 15:18:38 -0000


>From Alan Longbottom at Pudsey
Visit the Pudsey Civic Society site at
http://www.clanvis.com/pcs/

Venezuela Telephone & Electrical App'l Co 117
Telegraphic Journal & Electrical Review 24th Jul 1891
The directors have issued a report stating the half-yearly
interest on debentures due on 31st inst will be paid on the
presentation of the coupons either in Amsterdam or at the
Consolidated Bank Ltd London. The following figures, which point,
as will be observed to a steady growth of the company's business
since its incorporation, and to its success in the future,
The earning have been as follows To Dec 31st 1890 #9,028 gross
or #3,495 net. For January 1891 #1,120 gross or #500 net for
February 1891 #1,150 gross or #520 net for March 1891 #1,210 gross
or #520 net for April 1891 #1,250 gross or #540 net.
The proportion of working expenses to gross revenue has been
abnormally large during this period, owing to the fact that the
works, during the whole of the year 1890 and up to the present
time, have been under reconstruction and rearrangement. It will
be seen that after providing for the debenture interest, which
amounts to #3,500 p.a. and for administration expenses in England
there will remain a considerable balance for dividend on shares.
The subscribers have increased from 1,511 in April 1890 to 2,092
in April 1891 being 1,721 connected and 371 in course of being
connected. It is contemplated to increase the rental for telephones
and as subways for underground wires have now been laid on a
portion of the company's system, there is every expectation of a
considerable reduction in the working expenses in the future, which
together with the growing increase in gross earnings should add
considerably to the profits in the current year which commenced
on the 1st inst.

Venezuela Telephone & Electrical App'l Co 625
Telegraphic Journal & Electrical Review 27th Nov 1891
According to the Financial Tmes, the report recently issued by
the directors of this company shows a most remarkable rate of
progress. The number of subscribers is increasing so rapidly
that at Caracas the switchboard of 2,000 capacity, has had to be
discarded and a fresh one of double that capacity constructed.
At the beginning of 1891 there were, including applicants 1,400
subscribers. On Oct 17th the number actually connected was 1,832.
The general manager in a report on the progress of the company,
estimates for the current year an increase of 20 subscribers
per month at Caracas and La Guaira, and takes the figures for
Valencia and Puerto Cabello at the same as last year. His estimate
for the first month of the year has been largely exceeded, but
assuming it is to be maintained on the average, the gross earnings
would be #18,350 as against #16,253. If two-thirds of this gross
gain were secured to the shareholders, it would allow of an
addition of 1.5% to the dividend. At the 2st Ordinary General
Meeting of the company, a dividend at the rate of 4% was declared
on the shares of the company for the half-year ended June 30th.

Venezuela Telephone & Electrical App'l Co OR 706
Telegraphic Journal & Electrical Review 18th Dec 1891
The annual return of this company made up to the 4th inst was
filed on the 11th inst. The nominal capital is #70,000 in #1
shares all of which are taken up, 56,506 issued as fully paid,
while upon the remainder the full amounts have been called and
paid. Office 37 Lombard Street EC.

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