Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-11-17
1t is Proposed to Furnish Norfolk
Cheaper Telephone Service.
PROMOTERS MEET TONIGHT.
a Meeting to no Held at the Board OF rrado
Rooms at / O'Clock p. VI. mt which tho
Proposed New Entorprise VIII be Fully
discussed Men at the Helm An-
surs aces of tho Success OF tho Venture
Capital, 100000.

Norfolk may be slow in moving
sometimes, especially in some matters,
but when spurred TO action by neces-
sity. desire to benefit humanity. to
repel an assault upon her good name
rebuke oppression and injustice, she
generally moves with resistiess power
to the Accomplishment OF the work
mapped out.
For some time the city has been
stirred from centre TO circumference by
the Bell Telephone Company's Increase
IN rates, and it is not strange that
some OF our shrewd. public spirited
business men have determined to pro-
vide new telephone service Thev
have moved quietly in the performance
OF the necessary preliminary work.
and to further this object a special
meeting OF the Board of Trade and
business Mems Association Will be
held tonight ut o'clock to give the
promoters OF the Peoples Telegraph
Company. aa IL is proposed to call the
new enterprise, a hearing.
1t Is proposed TO capitalize the new
company at 100000, divided into shares
| Of $i00 each. MIR. u. Il. Creepy we'll
known in mercantile and real estate
circles, whose Office is in the City Bank
building. is one OF the active promo
ters. and is confident that the success
of the enterprise is assured. He ia
aided i'll his undertaking by citizens of
good business acumen ana financial
strength and thinks that the future Is
bright with promise for. the Peoples
| Telephone Company.
Already the promoters have the as
surance that 100000 of the stock will
be subscribed for by outside parties,
and there is every reason to believe
that the remaining 100000, or even
greater amount, should 1t be thought
advisable. will he taken in this city
and immediate section. In fact, 1t may
lie said that people are proffering sub
scriptions. and it is not doubted that
much larger amount than that here
inbefore named will be raised at home
Each stakeholder will be asked. 1t is
said, to give an option on his stock at
par or market value, provided, that for
any cause, he may desire to dispose OF
it. This is a necessary and wise pre-
caution against efforts that rival COM
ranies may make to secure control of
the Peoples Telephone Company. which
Will be controlled locally.
1t is proposed to make payments on
stock subscribed at the rate of 80 per
cent. cash, 20 per cent. in three months
and % per cent. In six months. 1t Is
thought. however. that an easier sys-
TEN of payments than this can be for
mulated.
The question of phone hates is al
ways an important consideration. The
Peoples Telephone Company proposes
to furnish phones at rate ranging
from SIC to SIS per annum to stockhod-
ers. To non stockholders the charge
will be SIS per year for business
phones and SIS for residence phones.
Arrangements for long distance con-
nections will be made by the Peoples
Telephone Company. which will be on
Grated independently of the Bell and
Southern States. In short. ii is intend
ed to make the new company what its
name impliesTpis., the Peoples.---
The promoters of the new company
are confident that their stock will be
good investment. Staunton. Va,
Galipolis, o., and other towns where
telephone service is furnished to the
people at low rates are pointed to as
evidence OF what can he done mere.
The meeting at the Board of Trade
rooms at o'clock tonight Will no
doubt be well attended. The matter
OF telephone rates and the proposed
new company will be fully discussed.