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


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
,end general manages, Mr.. w. Il. Gen.
try, has responded to the railroad
commission s 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 coming 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 informal
tion, but suggested that the informal
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 i'll response to this suggestion
the Southern Bell made a statement
of its affairs which the members Of
the commission pronounced the most
complete ever furnished, perhaps, by
a corporation.
1t 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 cv-
er been paid.
In addition TO this information
there was an unrcservcd 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 Tcl1-
phone company was earning 1882 per
cent on its capitalization, without al
lowing anything for depreciation in
the va1u" Of the properties.
The report went further and SHOW
cd the contractual relations between
the Southern Bell and the other tele-
phone companies with which it does
business.
In short, the company, through Mr..
Gentry, made full and complete cN-
position Of all its most intimate
facts and laid them bare before the
commission. In addition to that the
r@iht and power Of the commission to
demand this information and to en-
ercise all the other functions Of re-
guiation and control was conceded
without hesitation or reserve.
Thc railroad commission Of Geor-
@ia will have no difficulty in acting
intclligently and fairly on the af-
fairs Of the Southern Bell Telephone
company in the future, whatever may
be the point under discussion or
whatever phase Of il may come under
the consideration Of The commission.
Tt was 10 more than its duty, to be
sure. but the 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
\statc. The commission is merely ex-
\ 'cising its legitimate functions in
y ..rnanding this information in order
IN it may act intelligently in the
SAfe,, and it should be the pleasure
Mall the corporations in the state
Ying under the jurisdiction Of the
Emission to respond with equal
T,rity and completeness. 1t would
!. Yfar towards convincing the pco-