The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-08-04
ASKSMORE MONEY
OF SHAREHOLDERS
Burlingame Telcgrapl,ic Type
writer Company Wants to
Transfer Stock.
MACHINE NOT PERFECTED
Must Buy Rival Many
Richnonders Bought In
terest.

| Richmond stockholders in the Bur
lingame Telegraphing Typewriter
Company, who were promised large
returns on their investments during Il
stock-selling campaign in this city
about a year ago., are, it is stated, re-
ceiving calls for more money The
contribution Is supposed to be neces.
sary to pay the costs of transferring
the interests of the holders of stock
to new company, which is to control
| the market.
| The reported reason for the orsani-
cation Of new corporation lies III
the discovery that no present device
for securing the desired results IS sat
| isfactory from a business standpoint,
and that accordingly it is necessary
to buy up patents owned by other
companies and to use them in perfect
Ing the machine.
Costs Are Heavy.
| The cost of transferring the inter
ests to the new concern is TO be %
cents per share. On the l,5O000U
shares this would net the sum of
| s375,ooo. The consolidation offer. 1t is
| oAhtoe' CioSes On august
| Inquiry in New York has elected
the statement from representatives OF
two rival companies that no offer had
been made to them for their patents.
| One OF these who exhibited d letter
Indicating that his device was IN sue
| cessful use on railroad on Long Is.
land, said that II a trust were formed.
| his company would certainly refuse ia
go into 1t.
Agents for the sale of the stock OF
the Burlingame Telegraphing Typo
writer Company came to Richmond
| about a year ago mad rented offices
on Main Street. They demonstrated
their machines here aud sold large
blocks OF stock as result. S!mla'
campaigns were carried on in most Of
the other large cities of the country.
Big Dividends.
| Purchasers of stock were led to be.
lieve that they would receive large div
idends. These We're placed at 100 pei
cent The following is said TO be /;
sample of the circulars given to pros
pective Investors:
where the telegraph instrument now
produces at the sending point a com
bination of sounds or clicks 10 indi.
cate a certain letter. and reproduce!
that combination of sounds or click!
| at receiving point, this new device
records the letter itself on paper a
the sending point, and Simultaneous,
records the same letter at the receiving
point.
THE machines will be leased: neve,
under any circumstances, will they b,
sold. The rentals will be from So Il
SIS per month.
Those who may be disposed to IN
vest In the stock might employ as
basis for calculating probable incom,
an average charge of SIS a month.
Consider the fact that there ar.
/ approximately 100000 telephones IL
this country, at an average MONTH,
rental of more than s125, and that a
| conservative estimate one-fifth Of
these phones are in use in business of.
fees. II these 100000 Commercial
phones are producing only SIS renta
each month, the gross income for on.
year amounts to s120.OOo,0O0
/ Three hundred thousand Burlingan,
machines in operation at rental of S,
1 per month each would earn a gross in.
come of $4,000, 600. BY no roasonabl.
calculation can 1t be made to appear
that more than S3OOO00O of this In.
come would be necessary for operat
ing expenses, The net income would
therefore be Sl5,000.oOO This wo,,lf
| pay net dividend of 100 per cent ne,
annum on S15,oOO,000, which is the
amount of the companys capital stock
The men who have made fortunes
by owning shares in Industrial enter.
prlses are those who saw the irreslsti.