Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1904-02-09
BUSINESS AFFAIRS
DISCUSSED
BY Stockholders of the Wausau Telephone
Company. Prosperous Year.

Co. was held Tuesday evening. Feb. I'd
in the board of supervisors room in the
court house The call for the meeting
resulted in bringing out a larger rep
resentation of stock than had been
anticipated, more than enough necessa
ry for quorum.
| The meeting was called to order by
the company's president, N. Heine-
mann, who stated the object of the meet
ing anhthen asked the secretary, Jas.
Montgomery, to read the minutes of
the last meeting, which upon motion
were approved.
The report of the board of directors
as follows was read by G. ID. Jones,
and approved and ordered placed on
file:
WAUsAU, Wis, FEB. I'd, 1901.
To the Stockholders Of the Waasou Tele-
phone Co.,
GENTLEMEN
In submitting to you our ninth
annual report, it may be we'll to briefly
review the past history of the company
Our first annual report was submitted
February 5th, 1896. This report recited
the facts relating to the organization
of the company and the first construc-
ton of our plant, which was completed
and opened to public use on the first
day of November, 1895, or eight years
and three months ago. In this report
we stated that, while in obtaining bids
from outsiders for the building of the
lines, we had only made estimates for one
hundred and twenty-five instruments.
On buildIng the plant ourselves we had
constructed pole line capable OF
carrying four hundred wires, thus
providing for the future growth OF the
business of the company, 1t is fair to
say that none of us prlperly appre-
ciated at that time the g,Hat public de-
mand which good service at reasonable
rates was certain to create. We have
reported our grow Ch from time to time
at our annual meetings. The capacity
of our pole lines as originally designed
was long since exhausted, and at this
time we have in use five hundred and
ninety telephone lines, or practically
50 per \cent. in excess of the highest
estimated capacity of our pole lines
when constructed. This growth has
been gradual, and the problem always
present with your directors has been,
what ought we to do TO properly pro-
vide for this increased service? One
thing that has made this problem eX-
ceedInolv difficult is the fact that the
telephone is a recent invention. Un-
known to the world twenty-five years
ago, it has in that brief time become
one of the most efficient of public SER
wants, but as its capacity for usefulness
has become more apparent has Its
efficiency increased. When we installed
our plant we put in thoroughly up-tO-
date system. That system has since
been relegated to the background, and
so have half a dozen others-improve-
merits on it-been cast aside. Every
thing has been in shifting state. The
cost of transforming our present system
into any of these later up-todate sys-
TENS would have been great. and 1T has
seemed to your directors unwlse to in
cur this expense. We have appreciated
all along, though, that some change
should be made, that our growth was
hampered by the crowding OF our ca
pacity. and further that the cost OF
operating was greatly increased because
of this condition. A few things have
been clearly demonstrated as needtul
in any system, no matter what improve
mepts may come. 1t is reasonably GER
tain that no improvement will be made
that would render inefficient first
class outside line construction, with
complete metallic circuit for each in
strument, and the efficiency. of cables
for such construction has been clearly
demonstrated. We are pleased to be
able to say to you that in our judgment
the time has come when our company
should make this important change,
and in this belief, and with the assur-
ance that this course is certain 10 meet
your hearty approval, we have recently
purchased about eleven thousand feet
of cable, two hundred wires to each
cable. and have about one-third of this
already up. We believe that this cable
should be extended on the three main
leads from our central Office to the fol-
lowing points, namely: To the corner
of Franklin and Seventh streets, TO the
Catholic church on Grand avenue, and
to Curtis 4 Yale factory No. / at the
corner of Clinton street and Flsst Ave,
and that the single wires should be
practically done away with from the
central Office to all of these points. These
wires can be utilized in extensions from
these points, though gradually they
will be done away with by cables. We
are pleased TO say that in our judgment
the financial condition of the company
warrants this expenditure, which is not
only in the interests of better service,
but viii result in great saving IN the
expense of maintaining snch service.
We have placed this matter first IN our
relort rs we deem it the matter OF
greatest importance to you.
During the year just closed our ex.
change has grown from five hundred
and twenty five telephones reported
in use at our last meeting, TO i've
hundred and ninety now In use. we
have sold forty shares of treasury STOCK,
all that remained in the treasury, for
two thousand dollars ($2OOO9. We
have paid all salaries, operating ex-
penses, aud new construction WORK,
and have paid s.. 1888 for new ma
terial, which includes our cables, ana
have increased the value OF our plant
at least 81, 900, in excess OF any ana All
depreciation, and on January ], 1904,
we had in cash on hand and good ac-
counts due the company, in excess OF
all Indebtedness owed by US 81, l49-52
and TO this date We had paid SIX per
cent cash dividends TO our stock
! holders. TO ascertain the business for
the wear there should be added TO this
the net earnings Of the company for
/ the month of January, about SJOO,
which makes the net earnings of the
company for the year, on conserva-
tive bases, approximately as follows:
Cash dividend paid. including January 10 =,
L dividend. -.--..... . -'1f*0~
I Increased value OF plant. due to new
construction work and new instsiia- :,
tions made at tleast...-.---.,..--...--.---.. aN9I
/ ca ar.l raoi accounts OF hand.. 4.672-32
Total ....-....... .....-. sl0.z7e s.
I From which should be deducted:
Cash received from sales of stock-.------ 200ooe
Cash on hand one year sgO----.---...---- -soe y
Leaves net ..........-.-. .sss =
THE WISCONSIN TELEPHONE COMPANY
CONTRACT
The result of negotiations that were
f NTH fha Mis-