Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1901-08-01
IMPORTANT UNDERTAKING,
Plan Outlined for Consolidating Wisconsin
Valley Telephone Lines.

Valley Telephone Lines.
On June a meeting of the repre-
sentatives of the various independent
telephone companies of the valley was
held at Wausau. The proposal to
consolidate under one management
was there fully discussed and resolu-
tion was adopted to the effect that the
sense of the meeting was favorable to
the consolidation Of all toll lines in
| the Wisconsin Valley.
A committee consisting OF J. A.
Gaynor of Grand Rapids, T. P. Stone
of Wausau, Julius Thielman of Merrill
w. III. Bradley Of Tomahawk and
Arthur Taylor of Rhinelander was
appointed to bring about such a
consolidation. This committee nav-
ing considered the matter fully have
the past week issued statement
recommending such a combination
and outlining the procedure which
should be followed. 1t is addressed to
each of the stockholders of the differ
ent independent exchanges and is as
follOwS:-
DEAR SIR: There are four inde-
pendent toll line companies between
Grand Rapids and Tonahawk.
Each gives good service between
towns it was intended to connect,
but the service is not generally
satisfactory on any of the lines for
long distances.
At the meeting of these independ-
ent companies held at WauSau on the
3rd of June, twas proposed to consoli-
date them and to extend a copper line
from Grand Rapids to Rhinelander,
using the poles of the present
mpanieS for that purpose as far as
they would extend This copper line
to be used for long distance service.
and the iron wire for the purpose for
which it is now used.
This arrangement would add to the
earning capacity of the whole.
1t would bind together the people of
the Wisconsin Valley who have now
and always will have many interests
in common 1t would bind together
in close friendship and mutual assist
ance all the independent exchanges
whose aim it is to give the best
possible service at the least possible
cost.
And by placing all the toll lines
under one management. the expenses
will be lessened and the service
improved. This consolidation can be
accomL. ned without loss to anyone
and with profit to all. By taking into
account the cost of each toll line
system less its deterioration on
account of time in use, and also it's
earning capacity and upon these a
fair valuation of each can be
aScertained.
The proposed Wisconsin River
Telephone Company would then
purchase the lines of each of the four
toll line companies, and pay the stock
holders the fair cash value of their
stock according to such basis of
valuation, and at the same time give
the right to each stockholder to take
his pay in cash or in the stock of the
conSolidated'cotnpahy if he preferred
to do so. 1t will be the aim of your
committee to SO limit the stock of the
consolidated company that it will pay
a fair dividend on it's par value, and
be at least worth it's par value in cash.
| To accomplish this result, the
companies that favor it should bv a
vote of a majority of their stock
holders, authorize their Board of
Directors to make such a sale upon a
just and equitable basis. leaving to
the stockholders the right of option
to accept for their stock either cash
at the agreed price or stock in the
consolidated company, as each might
prefer. 1t will be the purpose of your
committee to allow full and fair
equivalent either in cash or in stock
to each and all of the several
companies, and to give an undue
advantage to none. The task we
have undertaken is Il different one
because the stockholders are so
numerous, and the success of the
movement requires that it should be
favored by majority in each of the
several companies. A failure of any
one to favor it may defeat the whole
project.
Hoping that you will be moved by
the same public spirit that induced
you to make your first investment, we
! are
Yours Respectfully,
JOHN A. GAYNOR,
JULIUS THIELMAN,
ARTHUR TAYLOR,
W. III. BRADLEY,
f. 2. STONE.