The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-04-14
IN BATTLE ARRAY
Observation-Disclosures Company
Organizes for Fight.
Increases Its Capital Stock to
Million Dollars.
CONTEST WITH BELL.
Will See About Control of Toll
Lines.
Wires in Topeka to Be Put
Underground.
Handsome New Office Building
viii Be Erected.
CONTEST WITH BELL.

Early this morning arrangements
were completed whereby the Inde-
pendent Telephone company of this
city increases its capital stock from
$15o,0o0 to s1.o00,O00. B. F. Pankey,
who is president and general man
ager OF the company. and w. P.
HemphiH. secretary and treasurer.
have given out the following state
ment, which in a measure explains
the move on the part of the hide
pendent people:
TO our Patrons: In order to place
some facts before you which we feel
will interest yoE we make the follow
ing statement:
I'VE have arranged to refnance our
company in order to enable US to take
care of the enormous growth In the
number Of telephones required to ac-
commodate your needs and increase
our toll line facilities
1.-The authorized capital stock of the
company will be increased to one mil
lion dollars. The bonded indebtedness
of the company will be Increased
$4,000, and the proceeds from the
bonds and the new stock to be issued
will be used in making improvements
and extensions to the plant, which will
enable US to give a much improved
service.
While Mr.. Theodore Gary, of Ma
con. Mo, president and part owner Of
several telephone plants, among them
the Home Telephone company of Jop-
lin. Mo, and the Atch3son Telephone
company Of Atchison. Kas., besides a
number of others. has become inter-
ested, there will be no change either in
the company's officers or manage
ment.
The arrangement provides ample
ready funds for the immediate and
future needs of the company"
Spend Large Sums Here.
The Increase Of the capital stock OF
the company is along the line which
has been contemplated for some time
and means that the Independent Tele-
phone company is preparing to take
care Of not only its own interests but
those of the smaller companies over the
state which have been harassed nv
the Bell company.
AT least s400 0G0 viii be spent in the
city OF Topeka" said B. f. Pankey
who is the president of the company
inside of the next six months. We con-
template the erection of a. new office
building Just as soon as the weather
viii permit. our present quarters
have been Outgrown and the move is
made necessary on account of the in
! N1ICn
exceeded our expectations Several
cites are being considered and we
have not yet decided on the location of
4 the building but it will be centrally To-
/ Gated and Of easy access to the public
4 in general
Our reasons for refinancing our COM
pany are numerous. In the first place
! 1t is our intention to place all OF our
wires under ground just as soon as we
+ can get to it. That of course refers to
the wires in the business portion of the
i city which are now handled by cables.
/ The placing under ground of these
wires will entail an enormous expense
/ but we realize that the business of the
| Independent Telephone company in To-
peka is past the experimental stage
While the cost Of the improvements
which we contemplate making in the
! city may not reach a half million dol
lars. before we are through with the
work it is possible that this amount
/ will be excelled. Our lines are to be
full copper. and all other wires will be
taken down just as soon as sour men
/ can reach them.
"Our toll service will be extended as
fast as we can get to it and while we
1 have the eastern tvo-thirds of the state
well covered We intend to branch out
in all directions and add new stations
1 to our toll board We are adding new
sta tons to our line every day and we
I have more stations on our toll list to-
/ day than we had a month ago. We
I nave peTIecIeQ arrangements for con-
nections with the Home Teleph one
company of Kansas City. which is one
of the strongest Independent lines in
existence"
Remarkable Growth Here.
There has been no change in the Off
GERS of the company nor in the directors
/ and the holdings of the present officers
I and directors have been Increased rath-
er than decreased and no new names
appear either in the list of directors or
/ officers.
The Independent Telephone company
( is really one of the infant institutions of
! the city as it is less than five years of
age. The growth of the company has
been something remarkable inasmuch
as It invaded the field Of rival com
/ pany and in less than five years has
built up an exchange of $500 subscrib-
ers in the city of Topeka and has toll
lines tapping nearly every town of any
size in the adjacent territory.
The improvements which are to be
made mean that somewhere in the bus
| mess portion of the city new building
will be erected for the accommodation
of the offices The lines will be full
copper circuited Throughout. and in the
centrally located district, all of the
wires will be under ground. It is ex-
pected that these improvements viii be
commenced within the next thirty DAYS
and not later than the last of June IN
der any circumstance.
The same central system which is now
in use viii be installed in the new office
building as it is admitted TO be the most
vised. While the contemplated improve
/ ments are to be commenced at once it
is probable that they win not be COM
j pleted before fail.