The daily morning journal and courier., 1896-01-29
PRESIDENT rYLER's REPORT
shows the Southern New England Tele- phone Company Is in a Prosperous Fnan- cial Condition-Requireinen of the Con- cern to Develop Plans.

shows the southern New England 9ete-
 phone Company Is in a Prosperous Finan-
 cial Condition-Require of the Con-
 cern to Develop Plans.
 The annual meeting of the Southern New England Telephone company was held at the executive office of the com pany in this city yesterday afternoon, President M, F. Tyler presiding, Yes terday was the seventeenth anniver- phone exchange in the world and which was started in this city by the District | Telephone company, which afterwards merged into the Southern New England. | In his report, President Tyler says: 'The gross earnings were S509, 7l555 operating expenses, S34S,O69.77; net earnings $155, 5,645.7S; fixed charges, $43,- 742.5S; net earnings above all ex- penses, $111, ,9OS.20; paid in dividends, SS6250 (5& per cent); balance to sur plus, $25,6532o; spent in construction of plant, $231, ,000; increase in gross earn ings, $S0,000; increase in number of sta tions during the year, 1,296.
 1 l'ui iliS lIS year lllClG were OpGlitu five new exchanges-Branford. Guil- ford, Wallingford, Naugatuck and Ridgefield. There are new exchanges under plans for building at Milford, Stafford Springs, Mystic, Simsbury, l Cheshire, Berlin, Southport, Norfolk and probably a number of other smaller places.
 "The past year has been an inter- esting one. in the history of the business because it has witnessed new depart | ure in our methods. Early in the year l it seemed to the management of the l company that circumstances were fast shaping themselves so it would be for the interest of the business to make a considerable reduction to certain classes of it's subscribers. A study of the con- dtions of the business also led to the conclusion that it would be possible to furnish new styles of service adapt ed to small communities that hitherto had not been reached by us, but which were consistently demanding some sort of telephone facilities. As result of those considerations voluntary and general reduction of the charges of the company to it's existing subscribers was made July 1, aggregating $50000 per year. At the same time canvass of the small communities was begun and several small changes were put under way. The result of this policy has been a very material increase in the number of subscribers served by the company and we think better ac- commodations to the people of the state without serious change to the financial interests of our stockholders.
 "This course, however, has demand ed the use of good deal of capital and extension of our plant. The increase in the number of stations during the past year has been 1,29S to place which we have been called upon for the cap- italized expenditure of about $175, ,000. This increase has called for larger fa- cilities in the department of our toll line business and We have added to that section of our plant at cost of $57, ,163.99 Those expenditures could not be made from current income, conse- quently you will observe in our balance sheet a considerable increase in the debt account. It was for the purpose ot meeting this floating debt that the re- cent issue of stock was made.
 With reference to the future the man. , agement of the company anticipates fol the year 1896 a continued demand fol the use of larger amounts of money 1T : the extension of the company's plant With the exception of the small ex changes which have been built thi. [ year no canvass has been made for new business. AS a. matter of fact there i undoubtedly an opportunity of increas } ing the number of customers in ou ? To 1,o oc a 6 ua fpA1 o1,r
 selves in condition to take care 0 them. There also appears to be in tn immediate future a very considerabl = call for a limited telephone service a very moderate rates ill places too smal V to maintain a separate switch board & The company has devised a method fo n meeting this want, and is already be
 ginning to feel the pressure of a deman in this direction.
 Upon consideration of the whol t field of our business your directors fee v there is every reason to expect yer :. much the same results from the busi Il ness of 1896 which we have had fror = the business of 1885, We have steadtl worked to improve the character of ou
 service which we think we can nov
 compare favorably with that furnishe r. anywhere in the United States. Thi = has been appreciated by our customer
 and the general public. We see no req
 son why the pursuit of the same polio
 will not continue to bring us the sam
 satisfactory results.
 "The board takes this occasion to eS
 press to the stockholders it's gratifica
 ton at the efficient and willing servic
 which has been rendered this year b
 all those in the employ of the company
 often under circumstances of consider
 able embarrassment and perplexity W
 feel that the corporation is equippe
 with an exceptionally strong and eff
 cient body of assistants
 The board of directors was re-electe
 as follows: Morris F. Tyler, Lyman F
 Jewell A. Heaton Robertson, William
 F. Downes, John W. filling, James Eng
 fish, \. o. Morgan, Sameul F. MerWir
 and Thomas Sherwin.
 4 vote was then taken amending tn
 bylaws to create the office Of vic
 president. The directors will meet nex
 week, it is expected, for the election c
 officers.
 HILLINGFORD.