Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1884-03-06
MILLIONS IN 1T.
Vast Fortunes suddenly Developed
From the Telephone Invention.
Boston Globe

with the organization and business Of
the American Bell Telephone Com
pany are numerous and phenomenal
No other enterprise in recent years
has given such returns to those who
were engaged in OF connected with
it. Started but few short years ago,
with its stock selling at a nominal
figure, it has risen with such rapidity
that men have become millionaires
before they were aware Of 1T, while
hundreds OF others have amassed a
larger fortune than they ever expect
ed to possess in the short space of
! from three to six years.
alexander Graham Bell, the orig
| mater of the enterprise, was prior to
the intention Of the telephone teach
er of languages in the Boston Univer-
sity. He and his father made specl-
atty of teaching articulation to the
mute-those whose vocal powers
lacked training because the power of
hearing was lacking. During this
time he YVES making experiments, and
it is believed it was then he conceived
and consummatsd the idea of speak
| ing by means of electric wires. The
prospect was not hattering at first,
but, with the assistance Of his father
in-law, Prof. Bell finally enlisted the
interests and the money of such men
as John NJ Forbes, William II. For
bes, G. l.. Bradley, and others. To-
| day Prof. Bell is residing in Wash
| ington, and and he also has a magnifi-
ceut residence in Cambridge. His
fortune is variously estimated at from
So, 900, 600 to S., 600, 600.
At tie time of the great fight be-
tween the Western Union and the
Bell Telephone Company the latter
was apparently getting the worst of it
when the Blake transmitter made its
appearance, and fortune at once be-
gan 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 of money from
the Bell Company for his invention,
and he also secured considerable stock,
as well as royalty Ola his patent.
His share in the stocks and the royalty
| from his invention have Melted him a
fortune which will approximate $4,
| 600, 600
AT the time that William II. Forbes
first invested in the telephone the
stock was selling very low some
where from $50 to $40 per share. The
stock has since been 'watered" by
giving the holder of every share seven
new shares, and the eight are now
worth more than $3.50 each, making a
raise of from $50 to 81, 200 or more.
Gossip has it that Mr.. Forbes borrow
ed or received $50, 600 from his father
To put into telephone stocks, and that
this has swelled to larger fortune
than ever his father owned He is
credited with being worth from s.,
0000 600 to $4,000, 600 He lives in
/ luxury and splendor at Milton.
Theodore n Vail is general mana.
ger of the company. He was at one
time telegraph operator in the EN-
ploy of the Union Pacific Railway
| Company, but by perseverance and
integrity he gradually worked his
way up to the position of Superintend
ent of the mail service, a very respon.
sible position. From this he came tc
| lllt DtIl 1ElCDnOuC A)fJlii bdliEs Will q
small fortune but large faith and
energy. Rumor gives him from 50,
600, 600 TO 81, 10000 Perhaps he is
worth more. He resides at the South
End and has magnificent residence,
with all the modern improvements.
He also has a we'll stocked farm in
New Hampshire, in which he takes a
great deal of interest and pride. AS
a business man he has few equals.
) When the company was in its in
fancy perhaps there was no one who
better understood its value and could
forsee the rich returns that were in
store for the shareholders than Gar
dner G. Hubbard. He fearlessly in
vested something like 800, 600 in the
company, and his money has yielded
him a return of upwards of So, 600, 000
Prominent among those who went
into the enterprise in its early days
may be mentioned Alexander Cochran
and G. p. Bowditch, of Boston, anC
Thomas Sanders, of Haverhill. A
gentleman we'll Informed in this mat
ter told the writer these gentlemen
had considerable wealth when they
first went into it and only put in {
portion of their money,
Il tell you it was mighty hard sail
ing in those days, continued tn,
: gentleman, but Sanders had plucl
and perseverance, although he did no
have much money to invest in spec
ulatiou, which might win or lose, bu
the wave of success, when it strucl
. the company, picked him up, with
great many more, and Sanders is to
, dav worth in the vicinity of 50 700, 00
: or SO, 600, 600, while Cochran and Bow
dith are worth something like $4,000,
+ 600 apiece.
4 Curious Growth on Boys Ears.