The herald and news. [volume] (Newberry S.C.) 1903-1937, 1907-12-03
The Southern Bells CanGor.

The Southern Bells Candor.
Editorial Atlanta Journal, November
"a, 1907.
The candor and completeness with
which the Southern Bell Telephone
company, through its vice president
and general manager, Nh. W. T. Gen.
try. has responded to the railroad
commissions request for information
concerning it's organization. its Sc
curities and other details should
serve as an example to other public
utility corporations in the state OF
Georgia and at the same time is en-
titled to something more than pass
ing recognition from the people.
Soon after its reorganization, the
present railroad commission sent to
the Southern Bell Telephone COM
pany, together with other corpora
; tions in the state ming under the
jurisdiction of the commission,
request for information on certain
special points. The Southern Bell
Telephone company replied that it
would willingly furnish this informa-
tion, but suggested that the informa-
ton indicated could not be thorough
" understood except in the light of
other and more extensive information
which it would be glad to furnish the
commission. The latter expressed the
desire to have this information also,
and in response to this suggestion
the Southern Bell made statement
Of it's affairs which the members OF
the commission pronounced the most
complete ever furnished, perhaps, by
a corporation.
It was set forth that the company
has no outstanding securities ex-
eept common stock, which was sold at
par for cash to legitimate purchas-
ers. There are no bonds whatever
and no preferred stock. No special
dividends or stock dividends have ev-
. er been paid.
In addition to this information
there was an unreserved showing as
to the amount Of money invested IN
the seven southern states in which
the company operates, the amount OF
money invested in the state and IN
every city and county Of the state,
the amount of income and the amount
of expenditures by the company as a
whole. the amount in Georgia and the
amount in the several cities and
counties in Georgia. This statement
showed that the Southern Bell Te}7-
phone company was earning 7.32 per
cent on its capitalization, without al
lowing anything for depreciation in
the value Of the properties.
The report went further and Snow
ed the contractual relations between
the Southern Bell and the other tele-
phone companies with which 1t does
business.
In short, the company, through Mr..
Gentry, made full and complete ex-
position of all its most intimate
facts and laid them bare before the
commission. In addition to that the
rgiht and power Of the commission to
."Semand this information and to ex-
sreise all the other functions OF re-
er&ation and control was conceded
without hesitation or reserve.
The railroad commission Of Geor-
ola will have no difficulty in acting
intelligently and fairly on the al
fairs of the Southern Bell Telephone
company in the future, whatever may
be the point under discussion or
whatever phase Of it may come under
the consideration Of the commission.
It was no more than its duty, to be
sure. but tne frank and manly man
ner in which the company measured
up to that duty is entitled to ac-
acknowledgement.
This should be the cue for all the
public utility corporations in the
kstate. The commission is merely ex-
Ieising its legitimate functions in
handing this information in order
it may act intelligently in the
Re, and it should be the pleasure
all the corporations in the state
inc under the Jurisdiction OF the
nissi6a to respond with equal