The Lynden tribune. [volume] (Lynden, Wash.) 1908-current, 1912-06-13
TELEPHONE cos
ANNUAL MEETING

ANNUAL MEElNC
About 300 stockholders Of the Farmers
Mutual Telephone Company met In an
nual session at Bellinghan on Monday
and transacted a considerable amour
Of business The meeting was called t,
! order by e. Lopas, chairman o.
the board of directors c. B. Legoe pre-
sided and p. r. Jeffcoat acted as sec
rotary. After the selection OF commit
tees to act upon matters of finance
changes in the by laws. and a commit
tee to whom were referred resolution,
offered the report of Manager Clark wa
taken up and much time given to il.
discussion.
! The report for the months Of August
| september, October November ant
December, 1911, shows that revenue t
the amount Of s7.O6s.51 was collected
the total earnings Of the company wer.
&CO335; the main and operating ex
pense was $5.46s.2i. q net gain of t56s u
In gains. the Blaine office showed
S405s; the Ferndale office. S1.9S: the
Lynden office. 36675s; and the Suma,
office, 3l5O.S5. Losses reported are a.
follows: Aiki. $ss.el; Custer. si2.25: De
ming. S2575s, and Nooksack $is.55.
| The report for January, February ant
March, 1912 showed revenues collected
during that period of $3,s94.43; dues and
rent earnings. $4,000; toll earnings
$797.SS; total earnings, $5.ss7.sS. The
| main and operating expenses for these
three months were tS.SSSl: the tota
gain was $2,Ol9.5S; the loss $l0.ll. the
only loss recorded being that of the AL
XII station. The gains Of the other sta
tions were as follows: Blaine, &356.37
Custer. Ns.67; Demins. tlls.1O; Fern
dale. $413.3s: Lynden. $437.45; Nooksack
sNe. .O6 Sun,as. $3ss.54, making net
gain Of t2oO9.47.
There were dues and rentals out
standing January ], 1912, p.23.S6; to-
tai earning capacity (dues and rentals)
per month, $l.2sl.9O: total Indebtedness
August l. 1911 Uncluding $z,5sO.0O bonds)
ti4,S7l25 total Indebtedness January l.
1912, (ncluding $4,000 bonds). 13.564.10;
material on hand. $352.16: total interest
charges on bonds and notes per month.
Is; bank balance January l. 1911
s676. IS; bank balance January l, 1872
N7S.22 vouchers outstanding and on
hand January /, 1912. tS6G.s7: stockhold-
crs' telephones in service, 99S; rented
telephones in service. sA. total. 1909.
The report for the months OF Janu-
oh
tnat there were dues and rentals out
standing April 1, 1912. $2,Sl77S; tolls out
standing April 1, 1912 s7s7.sS. making a
total Of $s.1l5.61; earning capacity per
month from dues and rentals, 10000;
total Indebtedness April !. 1912, Un-
cluding t6lOO.W bonds). $l3. .527.S9. The
net liabilities were tlO,4l2.2S; material
and telephones on hand January l. 1912
$927. .16; total interest charges on bonds
and notes, per month. 1926; bank bal
ance April l, 1912, $15SA; vouchers out
standing and on hand April /, 1912, N.-
Oil.12; stockholders' telephones In SER
vice, s77; rented telephones In service
SIS; total 1882 a decrease in the mum.
Ter of phones in use Of 70 since the
making of the last report.
The above statistics are CLEANED from
printed copies Of the report which were
furnished the stockholders. There being
no data for the months of April, May,
and June Of this year. the figures CIV
en- show the record for the nine months
beginning August !. lSl1..
The bylaws Of the company were a
TO fnv n.
stead Of seven directors as heretofore
and the following stockholders were
elected to serve as directors for the en-.
suing year: Blaine district. T. e. pa'
, Wis; Custer, Senator Ed Brown; Sumas
l.. D. VanValkenberg; Nooksack. 8. T.
| Shumway: Ferndale. +. p. Riley; De-
: ming. C. F. Nelson; Lynden, 8. T.
Jackman; Alki, N. p. SorensOn; al
large. Nels Nelson. Of Ferndale.
| A finance committee consisting OF tht
following was appointed: Nels Nelson
g. NJ. Shumway, A. Danielson. L. C.
Durr, A. e. Lappe and P. NJ. serrurier.
This committee will meet after the au'
diting committee has completed the
work Of going over the report Of the
manager Of the company.
Several amendments to tho bylaws
were adopted by large majority.
! 1t was evident from the very opening
| of the meeting until Its close at soclecl
that I. whether warranted or not, great
dissatisfaction existed with the pres
ent management Of the coinpany's at
fairs. and that clean slate would bt
demanded. Those who were dissatisfi
ed were greatly In the majority, and ev
erything went as they desired.
| Upon motion duly made, seconded an'
adopted the head offices Of the com
pany were ordered removed from Bel
lingham to Lynden. and II not in con-
flict with the laws. the next annua
meeting will be held In Lynden. Al
any rate, the head office will be NOV
ed to Lynden at once.
| Under the amended bylaws the boart
O. trustees are prohibited from borrow
ing more than $1,000 for any purpose. Il
is clear that the company, in order Il
properly proceed and care for its grow
ing business will have to make a loar
OF from $4,000 to $4,000, and possibly 6
larger sum- yet no provision was mad'
| for doing this.