The daily morning journal and courier., 1906-01-31

Telephone company held yesterday
 larger amount of stock than usual wa
 voted on, President Morris F. Tyler il
 his circular having urged a large at
 tendance to vote on the proposition t,
 increase the capital stock by $1,O00,OOO
 This increase was voted two-third
 vote having been secured. AS the stOcl
 pays per cent. and is quoted at 151, i
 is the opinion of the directors that il
 subscribing to the new stock the pres
 ent subscribers should pay more thar
 par, and 120 has been suggested al
 about the proper price. It is the feeling
 that the company should realize mort
 on its stock than par
 The capital is now $5OOO,O00, and thil
 vote will make it $6,000,00O; and thu
 company has legislative authority tt
 increase $4,000000 additionally, when i
 deems it to be necessary.
 The stockholders reelected directors
 as follows:
 Morris F. Tyler, Lyman Bs Jewell
 Thomas Sherwin, James English, Sam
 uel E. Merwin, A. Heaton Robertson
 John w. filling, Max Adler and Fred erick P. Fish.
 At meeting of the directors the of fieers of the company were reelected as folloWs:
 President-MorrisF F. Tyler. -president-James English,
 General uperintendent-Hen B. Sykes.
 Secretary-Victor M. Tyler. Treasurer-Andrew H. Embler.
 Assistant treasurer-Edwin N. Clarke.
 The statistics of the annual report of President Morris F. Tyler were given in yesterdays issue. The report further says
 The business of the year 1905 hfas been characterized by an increase in our work of very considerable char acter and by confirmation of our esti- mates as to telephone developments. Our total of stations on December 31 was H,S29, which is an increase of S,621 or 26 per cent. To attain this increase We have set S0,0S9 poles; we have strung 9,209 miles of open wire; we have used 1 so miles of covered wire; we have put into cables some 1S,190 miles more wire than we had before, which has taken about 97 miles of cable ot various sizes, and we have added 96 miles to our underground duct capacity Our total mileage in the stage, including cables and everything, is now 947323 miles, of which about one-eighth is toll lines.
 The average rental has been reduced from $32.2O to s3O.27. Our toll-line re- ceipts, however, bring up our total re- ceipts per station, so that we received S40,S7 as an average for each station, as against $43N in 1904 Our expenses, however, per station have not been cor respondingly reduced, expenses per sta- tion being $32.23, as against $S3.72 in 1904 As before a large part of our in- crease of stations has been in our low ! priced exchanges 90 that to-day we have over 5000 stations, divided among thirty three exchanges, in which tre rates are SIS and $24 year flat to resi- | dences and business houses, respective | ly,
 We have opened two new exchanges in the year--the Chatham exchange, opened in April with S3 stations, but which now has 1SS and the Jewett City exchange, opened in October with 1O6 stations, now 115 stations. These two exchanges. practically cost us the i same per station, a little less than S1O0. | This cost of course does not include | the proportion of plant which already ' existed but which these stations are really using.
 Our toll revenue from messages on | our own lines has increased 23 per cent, as against 15 per cent. in the year preceding The increase in business that is, in the number of communica- tions transmitted-is something larger. But this is due to the fact that our rates have been reduced, and we are doing more work for the same money. Our general superintendent reports that this increase in toll business may be very largely attributed to our meth- cd of operating toll calls to which ref erence was made in the report of last year
 The reduction which went into effect | on the first of January, 1906, amounts l to about $4S,000. The reductions which | have been put into force during the | year since the first of July amounted | to about $44OOO. This reduction, how ever, has increased the number of sta | tions, so that the annual rentals on the | first of January, 19O6 were only little | less than the annual income on the first | of the preceding month. But we do not know how much the | expenses of the company may be in- ] creased by these additional subscribers. | If these expenses are increased out of | to the increase in income 1t | will show itself necessarily in reduced | net earnings. You will see, from the report that | has been read of the financial condi- | tion of the company, that these net cannot be very much reduced without a corresponding reduction of dividends.
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 If the baby is cutting teeth, be sure and use that old and well tried remedy, | Arc WiDclOM'S SnOthfpor e.,