The Birmingham age-herald., 1906-03-25

Field had a few good friends like Peter Cooper and Abram Hewitt, who. purely out of friendship, backed him in small sums. as they afterward said: Out of pure admiration for his grit"
 But most of Fields money was raised in small sums by sale of stock direct 10 the people
 Did New York millionaires risk their money in establishing the great tele- phone system?
 Well, hardly.
 They laughed at Beil-called him a maniac and lunatic because he painted such glowing pictures of the wonderful money-earning capacity of the telephone.
 Bell was compelled to go to the peo- pie for the fuel to run his engine.
 So are we compelled to come to tne people-to you.
 Doubtless today. now that the com pany's commercial success is absolute ly assured. New York millionaires would be glad to get into it, provided they could obtain control.
 But when we found we woud have to rely upon the people to supply our fuel, we adopted provision to effect lively prevent anyone from ever ob- taining control of the company
 No one is allowed to buy more than 200 shares.
 We want stockholders in this com pany to get full justice and all that Is due them.
 So every share was made equal.-no bonds were issued-no preferred shares were permitted-and now we believe we have company in which any stockholder is safe whether he owns one share or two hundred shares.
 In all our estimates of the earning power and possibilities of this stock We have assumed only that we will have an equal share of the telegraphic and cable business now done.
 We know that over $40,000, ,000 is annually spent by the people of ths United States and Canada in tele- graphic tolls. We feel safe in estimating that we can get one-fourth of this business at our reduced rates | We know that the cable companies have to earn s12,0O0,0 ,000 every year to pay fixed charges.
 We feel safe in estimating that we can do at least $12,000,OOO worth of business at our reduced cost of 25 per cent to the customer.
 We feel sure that the reduction in the cost of telegraphing will cause an enormous increase in the volume of business.
 We feel certain that when men can send 200-word message for 25 cents they will hardly wait on the slow pro cess of the mails. And that is why we so confidently predict such large dividends for our stockholders
 When you know that the companys revenues increased TOO per cent in one year and 100 per cent the next year and when you take into consideration that its earnings now equal it's ex- penses. you certainly can not consider our ideas exaggerated. Furthermore, if you will stop to think that this condition has been brought about in three years. you will realize how important bearing it has I aCti ot1,c of fff1, l ties.
 The w. U. Tel. Go. did not reach the self-sustaining basis for eight years.
 The Bell Telephone Go. was over six years reaching that stage.
 The cable company was over twelve years getting to that point.
 For three years after its organiza- tion the Edison Electric Light com pany never earned a dollar. Think how long it took to bring the electric traction projects to a profit able stage of development. The photograph companies lost money for years. The tranSmlSSlOn or elec1r1c power over great distances has only recently become profitable. And yet all of these things have been most highly profitable in their subsequent development. It stands to reason that if three years suffices to bring the Marconi company to a self-supporting stage three years more will be sufficient to place it in the roll of divident-payers. You are denying yourself the priv Hedge of identifying yourself with what is destined to be the greatest and most powerful corporation the world has ever known by not investing in Marconi shares. Some day you will regret it and will say as thousands of others are saying today of the telephone: "I once had a chance to get in on the ground floor, and didn't have sense enough to do so." If you wish to buy shares, consult with J. H. Brokaw, room g. Hotel Hill man. Marconi instruments on exhibi- | -,<- &I.<, l.. l