Daily Los Angeles herald., 1884-03-16
Telephone MilIionaires.


sphone Co. are numero us and phe
nomenal. No other enterprise il
recent years has given such re
turns TO those who were engaged
in or connected with it. Started
but few short years ago, with
its stock selling at a nominal fig
ure, it has risen with such rapid
ity that men have become million
aires before they were aware of it
while hundreds Of others hav.
amassed a larger fortune thar
they ever expected to possess in
the short space of from three ia
six years.
Alexander Graham Bell, the
originator of the enterprise, was
prior to the invention OF the tele-
phone teacher of languages in
the Boston University. He and
his father made specially OF
teaching to the mute-those whose
vocal powers lacked training be-
oause the power of hearing was
lacking. During this time he
was making experiments, and it
is believed it was then he con
ceived and consummated the idea
of speaking by means of electric
wires. The prospect was not
flsttering at the first, but, with
the assistance OF his father.in-law,
Prof. Bell finally enlisted the in
terest and the money of such nien
IS John NJ. Forbes, William II.
Forbes, g. L, Bradley and others.
To- day Prof. Bell is residing at
Washington, and he also has a
magnificent residence in Cam
bridge. His fortune is variously
estimated at from So 5000, 900 10
So. 900, 900.
At the time of the great fight
between the Western Union and
the Bell Telephone Company and
the latter was apparently getting
the worst of it when the Blake
transmitter made it's appearance,
and fortune at once began to
dawn upon the young company.
1t is not known definitely whether
anybody was interested with
Blake in this invention, but it is
pretty certain, according to all
reports, that the latter got a very
large sum from the Bell Company
for his invention, and he also
secured considerable stock, as
we'll as royalty on his patent.
His share in the stocks and the
royalty from his invention have
netted him a fortune which will
approximate "a, 900, 900.
At the time William H. Forbes
first invested in the telephone the
stock was very low-somewh ere
from $40 to $40 per share. The
stock has since then been
"watered" by giving the holder of
every share seven new shares, and
the eight are now worth more than
$3.50 each, making raise of from
$40 to $1,000 or more. Gossip has
it that Mr.. Forbes borrowed or
received 100000 from his father
to put into telephone stocks, and
that this has swelled to a larger
fortune than ever his father own
cd. He is credited with being
worth from IS, 900 900 to 80, ,000,- :
900. He lives in luxury and
splendor at Milton.
Theodore N. Vail is general
manager of the company. He
was at one time q telegraph oper-
ator in the employ of the Union
Pacific Railway Company, but
by perseverance and integrity he
gradually worked his way up to
the position of superintendent of
the mail service, a very RESPONSE
BILE position. From this he came
to the Bell Telephone Company,
with small fortune but large faith
and energy. Rumor gives him
from 100000 to $4,000, 900.
Perhap he is worth more. He
resides at the South End, and
has u magnificent residence, with
all the moderN improvements
He has also well-stocked farm
in New Hampshire, in which he
takes a great deal OF interest and
pride. As q business man he has
few equals.
When the company was in its
infancy perhaps there was no one
who better understood its value
and could foresee the rich returns
that were in store for the share
holders than Gardner G.. Hub
bard. He fearlessly invested
something like 100000 in the
company, and this money has
yielded him a return Of upward
OF $3 600, 900.
Prominent among those who
went into the enterprise in its
early days may be mentioned
Alexander Cochran and G. P.
Bowditch, of Boston, and Thomas
Sanders, of Haverhill. A gentle
man well informed in this matter
told the writer these gentleman
had considerable wealth whom
they first went into it and only
put in portion Of their money.
~ tell you it was mighty hard
sailing in those days" continued
the gentleman, "but Sanders had
pluck and perseverance, although
ne did not have so much money
to invest in speculation which
might win or lose, but the wave
OF success, when it struck the
company, picked him up, with 6
great many more, and Sanders is
to-day worth in the vicinity oi
20 ZOO 900 or So 900 900. while