Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1898-01-13
ANNUAL r1EETiNG OF STOCK
HOLDERS IN WOOD COUNTY
TELEPHONE co.
A Good Showing for the Years S
Business.
New Officers.
New Officers.

in the Wood County Telephone Co.
met in annual session at the Business
Mems rooms, Centralia, Tuesday night,
January II, and listened to the annual
reports made by the officers of that
company. President J A. Gavnor pre-
sided at the meeting and read sum-
mary report of the work done during
the past year as follows:
PRESIDENTS ADDRESS.
To the Stockholders and Patrons of the
Wood County Telephone Co.:
1t is, perhaps, needless for me to state
to you that the Wood County Telephone
Co. has been decided success. At the
date of our last annual meeting we had
been in existence only six months. we
were then owing something over 81, 500.
The number of telephones in our eX-
change at this time was 10S.
l. The Bell people had a suit pending in
the United States court which they
claimed they were sure to win, and, If
they did win it, they would wipe us out
of existence.
Today our Indebtedness is substan-
italy 81 900 90, we have in our exchange
| l59 telephones, the threatened suit has
been decided, and the decision has
strengthened the Independent COM
panles.
We have during the past year paid off
81. 200. 90 Of the original Indebtedness,
we have added to the plant about $500,
and we are paying dividend OF Is per
cent. to stock holders.
The success of our Young enterprise
has been exposed to the severest test
that could be brought against it. There
is nothing SO we'll calculated to appeal to
blind selfshness as the scheme of free
phones offered by the Bell people. If
this scheme had been successful and
the free phones had been generally
accepted by our people, the home COM
pany would be Of no more use than the
fifth wheel to a wagon, and would have
surely perished.
1t is needless for me to predict what
would happen if the Bell people had
made success of their free phones.
Now that we can feel secure in the
local patriotism Of our people we can
devote our attention to improving the
service and lessening the cost. 1t be-
hooves us to study every means bv
which we can make our telephone ex-
change the best local exchange in Wis
consin, and the rates lowest that can
possibly be secured.
We have been paying off the indebt-
edness at the rate of nearly two thou
sand year, and the dividend now to
stockholders is Is per cent. per annum.
Is it necessary to continue to pay the
balance of Indebtedness at this rate.
Is it advisable to maintain dividend
of Is per cent? The net earnings from
rent alone is now over $4,000 per month
and will continue to increase from
month to month. The income from the
sale of stock will probably not be less
than $100 month. Should we not cut
down the present rates? Would i. be
advisable to cut down the dividend to
II per cent.
1t was our original design to connect
with our local exchange at as early a
day as practicable all of the leading
burgs in the county. In addition to the
long lines which we now have, we
should in the near future extend line
to the cheese factory and creamery on
the Four Mile creek, also line to Dex-
terville, Babcock and Pittsville, as the
present Pittsville line is in rather poor
condition and would need rebuilding
A line ought also 10 be extended to
Marshfield and one to Rudolph station.
These lines can be put in at a small cost
to the local company, and would add
vastly to the value of our service, and
would tend to add to the material pros
perity Of our cities. These are all ques-
tions that ought to be considered by
you at this meeting, and the board of
directors that may be elected by you
this evening will be guided by the
wishes Of the stockholders.
All of which is respectfully submitted.
JOHN A. GAYNoR,
President.
A free discussion of all phases of the
company's interests and plans was had.
Suggestions were made for the directors
to carry out On motion the directors
were authorized to reduce the rental of
residence phones from $3.50 to S1.25
per month; they were also authorized
to extend the service into the several
adjacent towns as fast as the financial
condition OF the company would war
rant. 1t was voted that the capital
shares as soon as the first 100 shares
had been sold; and that j. A. Gaynor
| be paid 5000 for his services in the re-
cent fight against the Wisconsin Tele-
| phone company.
The following directors were then
elected: L. NJ. Nash, Theodore Lipke,
F. MacKinnon, A. L. Fontaine. AT the
close of the meeting the directors met
and elected the following officers:
President-L NJ. Nash.
Secretary-A. l.. Fontaine.
Treasured. d. Conway.
All the stockholders appeared to be
well pleased with the showing made by
the company during the past year.