New-York tribune., 1905-11-16
rnR BIG PHONE MERGER
n II. Finucane Says Companies
Haze Necessary Franchises.

,,.ourh the medium of two s500000 00o cor
.-a4,ons the introduction of independent tele-
s,es Is about TO be made in New-York If
lens of Thomas W. F1nucane. of Rochester,
..--,ed out Ee is the president of the
Ices states Independent Telephone Company,
- Jersey corporation. with s5oo0o.0oo CAPT
.b.ch owns the majority of the capital
N...s NJ the New-York Independent Telephone
c.-,,snv which is now offering big pond
,.sue for the purpose Of entering this heio-
- Naw-York independent Telephone Com
,anv is said TO be an operating company own
70 franohise to operate telephone lines all
ne citx 1t is New-York corporation
~ Capitalization of s50,ooo,o0o, and its
-e &, the Mutual Life Building. 1t has
.s bv 2 recent merger the Mercantile
f,onnanv which was incorporated In
-. From this company it has obtained a
-N.-.,tse granted in that year, under the terms
--,,ob the companys officials say they nave
light "a put telephone lines and cables al
over the city or.o,,-
s.,,sor the provisions of the Transportation
r,o-,oration act with capital OF $soVo- Inc
o-a+ors were Henry q. Hurlpub Ls imam
I.ao6es Henry s Tarbell, George W. fhlihps'
,o,,;s FITZGERALD Thomas d. JORDAN anu 80"
''ui1 @..,,,,r7 II sought and obtained permission
- run wires from the Equitable bulloihs u
-. = -oin+s in the business district, TO give
burglar alarm protection to palhs anu W
eo-.,aniss This is its business at the present
time .,5
rho stock of the Mercantile company was soio
s,,,dicate and on June 90 1905 the stock
$50 aied notice of their desire TO extend the
..-,-.,v,s onerations over the United States
.,ioo and Canada The majority stock was
.,.n held by Wendell J. Wright, George o.
Y,-esber William c. Sherwood, James ii. Grii-
a,b ir. and Clarence z. Thorndel On Septem-
her q all the capital stock was ooIalileo ny
.he Nev-York Independent Company ana 'iie
txo were formally merged
III. new telephone company will have nttie
,,ss for a burglar system. but the acQuisitioh oA
.ha Mercantile company is useful because eie'eil
s-s ago II obtained from the Board OF Eiec-
,-,csl Control a franchise which reaus very
,nucb the same as that under which the New
yorx Telephone Company is now operating oii
.be strength of this franchise the independent
,o,,snv claims it can lay its wires all over the
CITY It's officials say that at the present tinle
,bs value of this franchise which the old $4,000
Mercantile Electric Company obtained is more
.ben s12eoOoo0. This valuation is based on re-
norts made TO the city on the recent franchlse
s,,I;cation of the Atlantic Telephone Company
IN. right of the independent company 10 ex-
tsnd its system to one of general telephone ser
vice is likely to be questioned by mehpers ot
- 1,o.rJ of Estimate and Apportionment. who
hpve determined that further franchises shaiI
not be granted without due reconpense 10 tne
city Some persons maintain that the NE e.
tile company lost its right 10 90 genera
phone business because it never extendeo lts
lines The Board of Electrical Control Whlch
granted the franchise and permitted tle m
.enation o< the nresent system OF burglar
alarms has been legislated out Of office 1t is
lsselv that the Corporation Counsel viii be
The Wercantile Electric Company has offices
IN the basement of the Equitable Building,
portion of the quarters of the Mercantile Trust
Company being set aside for 1t. one opersso,r p,s,
-ss in charge of the single switchboard which
is used for connecting the Sub-Treasury ana
various banks and trust companies, when the
renorter asked for the manager, but was told
that he was out Of the city. The man in charge
did not know when he would return.