Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-02-08
HOUSES UNITE
FOR WAR AGAINST
TELEPHONE TRUST
Joint Meeting of Committees to
Consider Probe Will Be
Held Monday.
Irrom a staff correspondent. ]

TRENTON, Feb. S.--The EVENING
STARS fight for the people against
the telephone trusts discriminating
rate methods in the State of New Jer-
sey, and especially in the city of New
ark, has at last c~rystallized into a
forceful channel. There will be held
in the Senate chamber next Monday
afternoon at 2 O'Clock a joint public
hearing at which some definite step
will be taken looking toward a correc-
ton of the telephone abuses and it is
more than likely that the present Legis-
lature will enact a law to rectify the
present obnoxious telephone conditions.
The Senate last night decided to hold
a public hearing to inquire into the
Senate chamber on Tuesday, February
IS, at $3.50 p. M. The House committee
on municipal corporations, which is
also Instructed by resolution of Colonel
Walter u. Edge to investigate the New
York Telegraph Company's unfair deal
ings, had decided to meet in the Assem-
bly, on next Monday afternoon at 3
o'clock.
The Senate inquiry is to be conducted
by the Judiciary committee to which
the resolution of Senator Gebhardt was
referred a fortnight 60. Majority
Leader Alderman is chairman of the
Senate committee and Henry r. Tatem.
of Collingswood. is chairman of the
House committee. The two chairTnen
held a conferences this afternoon, and it
was decided hat they would abandon
each of the meetings and hold a joint
hearing at 2 o'clock on Monday after
noon. This is the first step in the right
direction that the lawmakers have
taken, and it will doubtless result in a
victory for the people. Documentary
evidence, showing that Newark is be-
ing Disseminated against by the tele-
phone company in the matter of rates
has been furnished to Mr.. Tateni by
the. EVENING STAR, and the same
proof will be submitted at the joint
hearing.
Further evidence of the EVENING
STARS contention that the New York
Telephone Company has gobbled up the
Newark Telephone Company was
shown at the annual meeting Of the
stockholders Of the latter concern, held
yesterday afternoon. The minority
stockholders expressed general dissatis-
faction over the management of the
sleepy little company, and some went
so far as to say that it was a mere
dummy for the big trust, and that it's
present managers were trying to cur
tail rather han extend the business.
The report of President James b.
Curtis. which brought forward the
criticism of the management. showed
that the deficit for the year, leaving
- oaoo,,,t ~, ffap. aP sntaraot ON
100000 of outstanding bonds, which,
according to the declaration of one of
the stockholders last night, has not
beer paid for the past sixteen years,
was approximately $4,000. This, Of
course, made the declaration of sdivi-
dend out of the question, and caused
the general dissatisfaction.
Edward Zusi. who controls 675
shares, was the leader of the insurgent
body, and began the hostilities immedi-
ately upon the reading Of President
Curtis's report by declaring hat the
company was a mere dummy controlled
by the New York Telephone Company.
L. L. Staehle, who was reelected a
member of the board of directors at
yesterdays session, despite his protests,
last night made known his intentions
of getting out of the directorate at the
next meeting, stating that he was tired
of being a dummy director"
"There is no use in being a director
of a company when you know just as
little about what is going on as the
minority stockholders do" declared Mr..
Staehle, land I will step out at the first
opportunity. / was a member Of the
board last year, but all that we did
was to approve the minutes. We d.
rectors never saw any of the incoming
or outgoing money. l am the owner of
100 shares OF stock with a par value of
$40 each, but I am willing to wager that
] would be unable to get 81 a share at
the present time for my holdings.
t"There is something radically wrong
with the management of the company.
1t was organized sixteen years ago, but
to this day there has never been a cent
of dividend declared.
Even with the enormo stock issue
the company issued bonds to. the
amount of 5000. 600, and has never been
able to pay one cent of the interest, so
that you can readily see that the
amount due at the present time is enor-
nous. Curtis and Taylor run the COM
pany and its affairs. We seem to be
around simply for the want of some
thing better. There isn't a stakeholder
in the company TO my knowledge, with
the exception of the two men I have
named. who knows of anything that has
been done or will be done for the COM
pany's good"
Another stakeholder, B. S. Lauder
bach, said that it is a. well-known fact
that the trust controls the Newark
company, and hat it is doing every
thing possible to prevent any progress
or extension of its business. Mr..
L,~auderbach, who owns 1903 shares, says
that the minority stockholders have
been prevented by wilfnl management
from receiving any dividends on their
money invested. The minority stock
holders, he declared, are not getting o
square deal, and he believes hat this
subject is one that the legislative CON-
mittees that are investigating should
inquire into as well as the charge that
the trust is discriminating in its rates.
a t
ANOTHER SPLITTER FINED.
N On comnlaint of two health in.