The Portland daily press., 1884-02-04
The Telephone.
The Big Fortunes Made, and who Have
Made Them.
Boston Globe.l

Boston Globe.l
The fortuneg made in connection with the
organization and business of the American
Bell Telephone Company are numerous and
phenomenal. No other enterprise in recent
years has given such return to those who
were engaged in or connected with it. Start
ed but few short years ago, with its stock
selling at a nominal figure, it has risen with
such rapidity that men have become million
aires before they were aware of 1t, while
hundreds of others have amassed larger
fortune than they ever expected to possess
in the short space of from three to six years.
Alexander Graham Bell, the originator of
the enterprise, was, prior to the invention
of the telephone, a teacher of languages in
the Boston University. He and his father
made specially of teaching articulation to
the mute-those whose vocal powers lacked
training because the power of hearing was
lacking. During this time he was making
experiments, and it is believed it was the
he conceived and contaminated the idea of
speaking by electric wires. The prospect
was not fattering at first. but with the as
sistance of his father-in-law Prof. Bell final
such men as John M. Forbes, William Ell.
Forbes, G. L. Bradley and others. TODAY
Prof. Bell is residing in Washington, and he
also has magnificent residence in Cam
bridge. His fortune is variously estimated
at from So, 600, 900 to $5,0O0,0OO.
At the time of the great fight between the
Western Union and the Bell Telephone
Company the latter was apparently getting
the best of it when the Blake transmitter
made its 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
1t is pretty certain according to all reports,
that the latter got very large sum from the
Bell company for his invention, and he also
secured considerable stock as we'll as roy
atty on his patent. His share in the stocks
and the royalty from his invention has net
ted him fortune which will approximate
100000.
At the time that William 81. Forbes first
invested in the telephone the stock was SELL
ing very low--somewhere from $40 TO $40
per share. That stock has since been "wa-
tered" by giving the holder Of every share
seven new shares, and the eight are now
worth more than $3.50 each, making rise
of from $40 to $1,000 or more. Gossip has it
that Mr., Forbes borrowed or received $780,
900 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 $4,000. 900
to $S,O00,000. He lives in luxury and SPLEEN
dor at Milton.
Theodore N. Vail is general manager of
the company. He was at one time a tele-
graph operator in the employ of the Union
Pacific railway company, but by persever-
ance and integrity he gradually worked his
way up to the position of superintendent of
the mail service, very responsible position.
From this he came to the Bell company,
with small fortune, but large faith and ener
gy. Rumor gives him from $4,000. 900 to 81
100000. Perhaps he is worth more. He re-
sides at the South End, and has a magnifi-
cent residence, with all the modern improve
ments. He also has well-stocked farm in
New Hampshire, in which he takes a great
| deal of interest aud pride. AS business
man he has lew equals.
When the company was in its infancy,
| perhaps there was no one who better under
| stood its value and could foresee the rich re-
turns that were in store for the shareholders
than Gardner G, Hubbard. he fearlessly
invested something like 100000 in the COM
pany, and this money has yielded him re-
turn of upward of 100000.