The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1909-05-07


terestine Financial and Develop
ment Figures.
Nearly a million calls a day is the
average patronage OF the New Eng
land Telephone and Telegraph COM
pany, according 10 the annual report
of Gen. Thomas Sherwin, its presi-
dent. The exact figures given are,
approximately, 3O1 500. 900 local calls
and 15.SOO,OOO toll calls for the year
1908, and they emphasize the wide
spread usefulness of the telephone
and its intimate relation TO the busi-
ness and social Me of the community.
1t is estimated by careful observers
than 100000 persons, or about one
third of the population of New Eng
land, are in daily touch with telephone
service.
The rapid development OF the COM
pany is another feature of the report
that forcibly strikes one as he peruses
the figures presented. Last year only
1871 stations were added, owing To
a restrictive policy induced by the un-
settled conditions of business. For
1909, however, an increase of $4,000
stations is expected.
Considering that the New England
Telephone and Telegraph company
was not organized until 1888, it is in
terestng to note that in the four
northern New England states in which
ii operates, the system of which it is
the center had, at the end of 1908,
1896 telephones connected there
with, a number that has since in
creased to over $4,000.
For the past year or more the Mas
sachusetts Highway Commission has
been making a study of the affairs OF
this company, and only recently pub
lished its inventory. From this it ap-
pears that the appraisal value Of its
property is s46,540,S19, while its total
outstanding liabilities in the form OF
stocks, bonds and notes is only $685.
939, $50. With physical assets so large
ly in excess of liabilities, one thing
at least is reasonably clear, and that
is there is no room for water in its
stock.
, dlllluue lOWdIu SUI
pervision appears to be indicated in
the following sentences with refer
ence to the placing of the telephone
and other public utilities under the su-
pervision of a Public Utilities Com
mission in Vermont: ITO the adop-
ton of this measure the management
of your company offered no objection.
believing that the exercise Of the pow
ers vested in the commission, with in
telligence, good judgment, Thll knowl-
edge of the conditions affecting the
business, fidelity to the interests OF
the state and the public, fairness and
equity to the service companies, can
not be detrimental to this company.
The true interests of the state, the
telephone users and the company are,
and must be, identical Between
these interests. rightly considered,
there can be no antagonism or differ
ence. 1t is for the interests of the
state that both the plant and the SER
vice be maintained at high standard
of efficiency for the use of subscribers
and the public, and that the company
which furnishes the service shall have
a reasonable profit, and a reasonable
degree of prosperity from its opera
tions. Without that measure of pros
perity it's ability to supply good SER
vice or to extend it's system and rend-
er it of greater value to the communi-
ty. would be impaired, and eventually
lost"
The report also points out that in
the past ten years. despite the advance
in the rate of wages and the cost OF
material, economies in operation and
improvements in the art have enabled
various rate reductions in consequence
of which the revenue per station has
dropped from an average of $71.13 to
$3470.
With reference TO the purchase OF
the Northeastern Telephone company,
the Lewiston and Auburn Telephone
company and the Cumberland Tele-
phone company, in Maine, it appears
that stocks and bonds aggregating ST.
571 900 were purchased for s4O3,3O0.
THE outcome of these enterprises"
the directors say, furnishes strik-
ing illustration of the fruitlessness
and waste of establishing a second
telephone system in a field where one
company is already serving the pub
lie efficiently and fairly. Sooner or
later failure and disaster are sure tn
follow the undertaking. These COM
panies had been unsuccessful almost
from the start. and had proved a detri-
ment rather than an advantage TO the
communities in which they operated.
burdening a large number of subscrib-
ers with a duplication of charges for
service"
Among other statistics of develop
ment during the year appears state
ment regarding the amount Of conduit
construction by the company. by which
It appears that.it already has under