Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1901-03-15
Monterey and Stanton Tele-
"
phone Company.

considerable complaint. III order
to satisfy our own mind and bring
the matter before the people, we
have taken some trouble to enquire
into the reasons the company has
for increasing rates at this time.
We find the facts about these:
The line was constructed from
Monterey to Staunton seven wears
ago. The persons who went INTO
it did not do so with the view of
making any money out OF the
scheme, but they saw how badly
Highland needed the line and what
a great convenience it would be to
the people, and it was for this lat
ter reason they put their money in
to it, that they (the stock holders
as we'll as all other citizens of the
county might be furnished with a
convenience, which since it has
been enjoyed BY the people OF the
county, they would under no con-
sideration be deprived Of.
:" Wen, this company of Highland
,,eople built the liue. the capital
stock Of the company was about
S2,lOO. and during the seven years
that amount has been invested it
has earned for the stock holders
one and a half per cent per year.
This could scarcely be classed gilt
edged" The company hoped to
furnish the equity thls convenience
and at least get legal interest on
the money invested, but this they
have fail d utterly to do, besides
they have lost much time IN con-
Quoting the affairs of the company
rs there are no Salaried officers IN
The concern.
We have heard it said that the
reason dividends have not been de-
cleared is that the earnings went to
make permanent Improvements,
which have very greatly increased
The value of the stock.
This can scarcely lie correct, for
much of the stock has lately chang
ed hands at less than two thirds OF
its par value, and we believe that
for the amount of the capital stock
fS2,l00) the, whole line could be
built new. Instead Of the company
having new line it has one badly
in need of repairs. At least $500
is necessary to repair it, and that
Mt once. The great expense, and
from which no revenue comes, Is
the lire to Stanton. This is oul
bnly way out. and to let this line
60 down is to shut the county up
in darkness
No reasonable man would think
of asking a company to invest its
money in something that gave them
no return, and for the Use If which
they have to pay just the same as
any other party When the low
rates we're made the connections
were few and the service poor, but
now new lines haye been built and
u better service is at your command
for which the company should
have better pay.
j. For the reason that mach re-
pairing is Immediately necessary,
We cannot see any prospects of the
line paying its stock holders any
dividend for a couple of years at
least, Yet these repairs must be
made or the system will become
nsele3>, aud where is the money to
come from to make them? Is it
y,oht for the company to 90 down
in its pocket and set up the money,
more money at no interest? The
people of the county who want THE
service. who would not FOR any
thing in reason see it abandoned, is
the right and proper source from
which the money should come to
keep the system underway.
! They cannot rightfHlly expect it
to be set up By AN individual or
company Of individuals.
e When compared with the rates
on other lines these figures are low
We have not heard CT any so cheap
The books Of the company show
they have made no money off of thu
people, and us long as this state OF
things exists the people certainly
have no right to kick. 49,. Fl
Should the company ever insti
tute methods of extort!onihg on the
people, then you will find the Re.
corder in the interest of the people
the first to make protest agains
them. TO keep up thing that i: