New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-15
Germans Bidding Here.
PUBLIC UTILITY NOTES..

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The announcement that the Ohio Public
Service Commission will consider plans for
the consolidation O. the telephone COM
panies in Ohio controlled by j. p. Morgan
& Co., including the Bell companies. on June
90 it is reported, will mean much to the
American Telephone and Telegraph Com
pany so far as the Ohio territory is con-
! cerned.
j. p Morgan & Co acquired controlling
| interests in the Cuyahoga Telephone Com
pany. the Columbus Citizens Telephone
Company. the Toledo Home Telephone, the
Home Telephone Company, of Dayton, and
the United States Telephone Company,
about four years ago These companies,
including their subsidiary corporations. fur
nish telephone service to a population Of
over 10000 in that state In addition.
the long distance lines of the United States
Telephone Company reach practically every
county in Ohio. excepting that OF Hamilton.
and every city and town Of any size and
importance with the exception Of Cincin-
matt.
The Morgan Company meets competition
with the Central Union Telephone, in all
cities served, except in Cleveland, where
the Cleveland Telephone Company is sub
sidiary OF the Western Telephone and Tele-
graph Company The Morgan companies
have over 5000 telephones in daily use.
They have done very little extension work
in the last couple of years, knowing as they
did that sooner or later a consolidation OF
companies would be made.
The United States Telephone Company,
with It's long distance line, and the scat
tered Independent companies have been the
spine OF the Bell opposition. They have
not. however, made any important extern
sions OF their lines during the last two
years. All the Morgan concerns have been
making good earnings, paying bond inter-
est, dividends on preferred stock, and in
the case Of the Columbus Citizens Tele-
phone Company regular dividend on the
common stock.
More than thirty thousand miles OF long
distance lines are covered by the United
States Telephone Company, reaching all
cities In Ohio, excepting Cincinnati. It's
capital consists of s2,7l5,OOo per cent bonds
81. 0SaO0O per cent preferred stock and g.
10000 common stock. 1t also controls
through stock ownership many local COM
panies Of the state. These local companies
have about 1900 subscribers.
l
crates about 5000 telephones in Cleve-
land and nearby vicinity II has 100 miles
of toll line, connecting with the United
States Telephone Company. Its capital
consists Of $S,5OO,OOO per cent bonds. ST.
4S7.35O per cent preferred and sl,5ooCCO
common stock, and it earns approximately
100000 annually.
The Columbus Citizens Telephone Con-
| tbniISdnU
phones in Columbus, and, in addition, CON
trolls through stock ownership several other
local telephone companies II has automatic
continent. and owns "A fine office building
i'm Columbus. The capital IS $4,000 per
cent bonds. $SO2 100 8 per cent preferred ana
$4,000 common stock.
The Toledo Home Telephone Company op-
crates fifteen thousand telephones in To-
ledo and Lucas County. 1t has about niiIe
thousand subscribers and is operated by
automatic equipment. The capital consists
of Sl.257. 800 stock, on which per cent divi-
dendr are paid. and $4,000 per cent
bonds
(pon the mutual agreement OF consOllda-
ton between the Morgan and Bell telephone
coppanies in Ohio by the Public Service
Commission it is only matter of II short
period of time when telephone competition
will be a thing Of the past in that state.
Dual service has been a feature Of Ohio
telephone business for many years.
with the elimination OF the United
States Telephone Company and the releas-
ing Of the long distance field service to the
American Telephone and Telegraph Com
: pauv the Independent exchanges Will be
compelled 10 make connection with the toll
lines of the latter, and this will mean thdt
soon there will be but single telephone
service I'm Ohio. The Public Service Com
; mission of Ohio favors the elimination of
; the dual system, and by the regulation OF
rates IL feels certain that all the benefits
derived from competition may be had with
out the disadvantages of two companies op-
, Grating In the same locality.
Stockholders of the Northern Ohio Trac-
, tion and Light Company subscribed 10
4 about $4,000 OF the Sl,64000O new issue Of Z
= ner cent preferred stock offered 10 them
al par This stock was authorized to pro-
, vide funds for new central power house
land other improvements. The Ohio Pup-
lie Service Commission stipulated that II
,nus, he sold so as to net the company not
less than par.
The remaining 100000 required for the
betterments must be taken from earnings
according to the order Of the commission
The balance OF the stock issue, amounting
Ia about 81, 10000, will be placed with -four
security houses in New York, Cleveland
; Cincinnati and Montreal for sale. II is evi.
e dent 10 the officials of the company that
Il will require some time TO dispose of thi.
. stock Al price which will net the com.
2 many par. but az all the money will not b,
. required for some months. IL rs believed thai
q the stock will he all placed finally.