Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1906-05-09
WEDNESDAY, May: 9, 1906.
THE TELEPHONE EXCHANGE.

y 4 ::
About nine years ago a dozen
citizens of -Willmar met and
organized the Willmar Telephone
Exchange Company. They sub
scribed the sum of two hundred
dollars each, dividing the capital
stock into forty-eight shares of
fifty dollars each. The company
built the first exchange, and since
that time the public of Willmar
has furnished all the means for
extending and rebuilding the
system. Not a dollar more of
money has been. invested since
that time. In lieu of dividends
the company has. increased it's
capital stock and distributed it
pro rata among it's stockholders,
so that now each original SUBJ
scriber for four shares has re-
ceived sixteen shares at a par
value of fifty dollars. Besides
the distribution of stock, there
have been a couple of six per
cent dividends. Five years ago
the gross earnings as reported
to the state auditor were 50, 621.31
for the year. Since that time no
statement of the earnings of the
Willmar exchange appears in the
auditors reports. We under
stand that the company now
claims assets to the amount of
about $4,000. At it's present
capitalization of $4,000 it is a big
paying thing for the stockholders,
at least up to the present time.
In the course of time the stock
was absorbed by the individuals
interested in the Minnesota Gen.
trail Telephone Company to an
amount which gave them the con-
trolling interest. Since that
time little interest has been taken
in the affairs of the company by
the holders of the minority stock.
Some have yielded and disposed
of their interests and a few have
refused to part with it at any
price.
Willmar is one of the best :tele.
phone towns for it's size in the
Northwest, and by the donation
of it's franchise to the local com.
pany nine years ago this hand
some property has been created.
The ten year franchise expires
next year, and there has been nc
little talk and agitation that the
city ought then to take over and
operate the]ocal exchange for the
benefit of the citizens at large.
No one doubts that the POSSIBLE.
ties for the future of the telephone
in this city are greater than any.
thing that has as yet been
achieved. The reasons for city
ownership in brief are that il
would insure fair treatment oil
all lines and interests and that il
would bring a handsome revenue
into the city treasury. Without
such fair treatment of indepen
dent lines another exchange is
certain to be established which
will necessitate the nuisance oil
having two phones in each place
of business.
: On the eve of the time wher
this question is to be taken uF
and settled by the people of the
city, the company votes to spenc
$4,000 to rebuild the system ani
to pay for the same by issuing
the obligations of the company
! AS this comes at the same time
as the announcement that ;
majority of the stock of the loca
has been sold out, apparently t
the Northwestern Telephon,
Company interests, it is plainl,
evident that preparations ar
being made to present an ARA,
ofaleged capitalization andasset'
that will brighten the people from
any attempt to acquire the prop
erty for the city. T..
If it becomes definitely know
that a majority Of the stock i
owned by interests allied will
the Bell Telephone Trust, tina
ought to be an added inducemen
to the people of this communit,
to take over the DrOnertv mex
year. The trust methods of deal
ing with the public and indepen