Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1912-08-31

$4,000 subscribers in less than two
years.
This shows that the public IL with
the new Automatic Company.
The Chicago Telephone Company.
which Is suffering 80 much from
want Of funds, according to certain
city experts" that 1t will have to
raise telephone rates on the people
In order to exist, paid 8 per cent in
dividends last year.
Think Of It!
Eight per cent on twenty.seven mil.
lion dollars!
This IL the company that started
with q capital stock Of half million
and now has q capital stock Of TWEEN.
ty.seven millions.
II pays 8 per cent annual dividend
on twenty.seven millions and puts up
a twenty-five story modern once
building besides.
The people Of Chicago are such
easy marks that the phone crowd want
to get more out OF them and asks for
an increase In rates at the hands OF
the City Council.
And two experts" agree that this
poor company 10 losing money!
In 1911 the Chicago Telephone Com
pany paid s per cent In quarterly divi.
dends Of 2 per cent March 81, 2 per
cent, June 30; 2 per cent, September
80; 2 per cent, December 80, 1911.
Here Is O nice little nest egg Of
Sc.l60,OO0 divided up among the stock.
holders.
When to this is added the profits
paid the parent" Bell Telephone
Company. the amount grabbed OF the
people OF Chicago 10 simply enormous.
Instead OF raising telephone rates,
the City Council should lower them.
The net earnings Of the Telephone
Trust increased from @4.27o,S09 IN
1900 to 323.096.3ss In 1910.
And yet the Trust wants to squeeze
more money out Of Chicago people.
We take the following from page
"a Of the Report on the Causes Of
Municipal Corruption In San Fran.
cisco 90 disclosed by the investiga.
tions Of the oliver grand jury and the
prosecution OF certain persons for
bribery and other offenses against the
state" made by q committee appoint
cd by the mayor OF that city and pub
"a A,, ~ hA hno - ~ nse.
pervisors, city and county Of San
Francisco, January 6, 1910:
"The Pacific Telephone and Tele.
graph Company bribed the Supervis'
ors to prevent the Home Telephone
Company or any other organization
from obtaining q telephone franchise
In San Francisco. No attack Of any
kind on the Pacific Telephone and
Telegraph Company was threatened
by the Supervisors. and the sole pur
pose Of the crime was to maintain
profit which might be cut by the
competition of business rivals. The
Supervisors were paid In all ove'
$4,000. The managing committee ol
the board OF directors Of the company
swore before the Grand Jury that the,
did not know how the funds were
procured for the bribery"
This report was signed by William
Kent, formerly a we'll known alder
man and reformer OF Chicago and si'
other members OF the committee ap
pointed by the mayor Of San Francis
co, Oct. ~, 1908.
Telephone competition in Chicago Il
needed and needed badly.
The people are sick and tired Of be
ing forced to submit to the demands
OF the phone trust. They resent thu
gall OF the trust in wanting the citI
to give It monopoly and they are no
going to stand for any such action b!
.he city.
For years they have suffered pa
tiently the wrongs put upon them b!
the trust and they have come to tn
position where they are not going u
stand for it any longer.
The one thing that will put . stol
TO the high rates and poor service
from which the people Of Chicag'
have suffered for years, is telephone
competition.
Chicago demands phone compeu
ton.
Competition In the telephone field 4
necessary II the people are to get re
lief from present high rates for phon'
service.
Mayor Harrison made popula
move when he ordered new repor
on the telephone situation. The "ex
pert" whose report Is now In thu