The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1911-11-04
"Bud" Fishe

realized from the sale Of the first mort
Answers. 500, 900.
ouestlon-How much OF this cash Il
Union and subsidiary companies?
Answer-About s3.500.O0O.
| Ouestlon-Ifow much cash Is to b.
used 20 acquire the National TeIephon.
! corporation and its subsidiary com
\ panies?
Answer-About $4,000. 900.
ouestion-How much OF this cash "a
TO remain In the treasury OF the com
| pany?
Answer-At least $4,000. 900. to be usee
solely for the purpose OF making i'm
said company's properties
ouestion-Will the cash allotted 70
each purpose be so deposited that IL cat
ana viii he used only for the purposes
= agreed upon.
! Answer-Yes. the proposal TO be sub
seribed 90 ~ the security holders viii
/ Question-wnl each company b,
charged with its cost OF receivership
such CHARGES being deducted from each
/ companys allotment OF cash ?
Answer-NeE.
Note-This question was asked will
the explanation that the speaker had in
formation that the cost OF the receiver
snip OF the American Union Teiephon'
company was much greater than the cos
or the receiVership OF the National cor
poration. (Which would leave n large
4
uonal than to the American Union
paid.
( ouestiOn-What amount of secon,
mortgage bonds is to be used in acauir
ing the American Teleph one COMPANY
and its subsidiaries?
Answer-ApproXima 100000
ouestion-What amount OF secont
mortgage bonds will he used in acquir
irg the National corporation and its sub
. wer-AppToximateIy 81, O0o. 900
Question-What amount OF secon,
mortgage bonds viii remain in the treas
Answer-None.
Question-what amount OF preferre,
stock Is 20 be used in acquiring tn
American Union telegraph Company
. Wer-ApproNimateiy s.. 900. OOo
n Sue~uon-WAat amount OF preferre.
stock Is 10 be used in acquiring the Ma
toual Telephone corporation
I Answer-Between $1,000 900 and Sc.
900. 600
= Question-Is the preferred stock I.
have voting power ON all mstters@
7 Answer-The preferred stock. will
the general mortgage bonds. will Vot,
only on questions OF acquiring new prop
critics. passing ON new bond issues ans
the making OF new debts Herewith.
NoTE-lt viii be seen from "a tina
On the more important matters IN con
necticu with the management OF th,
company control viii remain win ioca
mostly. and with American capital en-
tirely.
tsNt%luu-M Nat amount OF common
stock y 20 be used To acquire the Ma
> uonal Telephone Company and its sub
salaries?
Answer-None
0ueS;ion-Who is TO receive the com
. mon stock
Answer-The English syndicate which
places new money into the property viii
Z ward promotion expenses.
Questionable the common stock sol,
and absolute control OF the company
I Nil Hs. Il
/ 10 management or the sanpo
Resolution. Passed.
Following this e resolution was futro
duced by Mr.. Zachariah Robinson. Of tn,
Consolidated Telephone Company 81
. F1irnunt providing FOR the appoint mem
OF a committee on the report Of which
me Approval or rejection Of tire pra-
nosal OF the Eneii-hneu viii depend
a slight amendment Of no Importance
being made:
"Whercas, The proposed plan for 90,
reorgauiz1tiou and refiuancing OF tho.
American Union Telephone Comparv anr
Tie National Telephone corporation am
We subsidiary compsuicS. a. PROPOSED
by john ". Garland. ct pitt.burrl
iennsylvania. and his associates. has
such merit as 20 demand our earnest
consideration and whereas We fe.i thai
speedy action. - asked by Mr. Garland
should be Immediately bad. therefore,
lie ~ resolved. Thai lpokinc towar.
the ends above indicated. the chairman
90 appoint a committee OF five 90 whict
~ shall hc member. Tor the purpose
% luokirC further into the details OF thu
plan ana reporting back to ~ as TIC
said committee NAV deem proper. 70 b,.
iuE the sense ~ this meeting that the
fraid committees shall Immediately be-
as pussihl
Committee Not Named.
W'h fhc stouilur of thf- rc-1iuficn. witch
Cofrr .ctc.y safi-nri NJ. t'afiaud when % vas
explained That 70 w.. meant o. carry ihc ten