The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-04-13
REPORT IS NAILED.
Twin City Telephone Co.'s Stock Not
Bought Up by Parties
in East.
VIM. H. Kerkoff, Treasurer, Tells
~. How the Report May Have
Been Started.

The report that a large block of the
stock. perhaps a,controlling interest, OF
the Twin City Telephone company has
been sold to Pittsburg capitalists. has
been mailed by William II. Kerkhoff,
treasurer of the company. Mr.. Kerkhoff
says: ,..'E' ..... Z.
1.-The sale of a property like ours means
the passing of the control by the transfer
Of a majority Of the company's stock.
No such transfer has been made. The
control of the company has not passed into
the hands of eastern parties but remains
where it always has been, here In the
west.
How Report Started.
It is easy to account for the guesses.
About thirty days ago Chicago parties
owning considerable block of the stock,
but not by any means controlling in
terest of the company. gave an option to
F.. H. Moulton upon their holdings. This
option Mr.. Moulton recently exercised
and the stock has been transferred to
him. Whether or not eastern parties
have Joined Mr.. Moulton in the purchase
OF this stock only he can tell. This much
however, is known: Mr.. Moulton has been
an ardent and enthusiastic advocate Of
the extension Of the long distance bust
ness Of the Twin City Telephone COM
pany and has interested eastern capital in
that proposition. This fact may have
given rise to the run1or that the control
Of the Twin City Telephone company had
passed to eastern capitalists. The prop
erty of the Twin City Telephone company
is regarded by eastern capitalists as a
very valuable one, and it is not surpris-
ing that the bonds of this company are
quite largely held by eastern people, and
that it's stock has been sought after for
investment purposes. .".T
1.-THE holding of the securities of this
| onrnnrQf NV n ct inv ,of
materially affect the business of the cor
poration. At the recent annual meeting
the company was still further strength
ened locally by the election Of three rep
| resentative local business men in the
place of foreign directors. They are:
John DeLaittre, banker of Minneapolis;
A. c. Anderson, president of the st. Paul
National bank, and L. L. c. Brooks, presi-
dent Of the Manhattan Light, Heat &
Power company Of st. Paul. The former
active officers were unanimously re-
elected, and the same aggressive policy is
being pursued.
A Ridiculous Inference
'The insinuation of morning paper
that this company may have been alb
sorbed by capital interested in the North
western Telephone Exchange company is
ridiculous. For legal reasons alone the
control of this corporation could not un-
der any circumstances pass to, its com i
petitor There is no such legal barrier
to the absorption Of the Northwestern
Telephone Exchange company by the
Twin City Telephone company, and it is
far more likely that such an absorption
may take place at some future time
| E. II. Moulton, president of the Twin
City Telephone company; is still out OF
the city, and nothing could be learned
as to whether the stock of the Console
dated and Rapid Service companies fol
long distance service with which he is
| connected, has passed to easterners