The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1913-02-13
%926.oS6.77

I desire to call particular attention to the fact that the figures previously
quoted, for 1912, refer to u system as a whole, SC that no misconcepton
may exist as to that portion of our nvestment lying in any of the larger
cities in or territory. These figures conclusively prove that or Company
is n a wholesome and prosperous condition. With the rapid growth Of the
past few ears it is. or should be generally known that we have maintained
The high andard Of inaneins' which so ing characterized the Colorado Teh-
phone Company Like that Company the mou We have invested in actual
physical property, is greater than or capital liabilities by a considerable
sun" aS " VI u""e vantage TO our 'o'h'''''r tst IN "t the
value of their stock is at onc apparent, when the need or desnabfny arises
nnd IN tha sanona r,,ca - 10 nr u,t at~mar w. tmo 49, ~ usm.
attacks which must constantly be expected by public service corporations 1t
is our insurance in final trial Of strength between or Company and those
who would seek to undermine it's credit at large,
to be similarly subjected to attacks such as / ave indicated. g" tut in tn
tn, the matter for ond 1G interests n no 'G Drsf"Tsa stock ss !" n " abnormal RI" i'% sSar s"s'@ Of any ny
Ing Ing a are open at ii t%s 60 s. that ! : N ma sssa ~ sns1ss that
f".s "s s%~ J" by SAs sss Hsn1 1ss' HEREWITH re" S' sn'%,' tee %a%'n" "SSvs {" es ss ',SS S' , hat
psrsentase upon y astua, investment nd ,ns nyestmrn, a" BE- snnIa"H
ives asa TT 1t is is noteworthy '%yo n ' that % %"se wi ""p poo,% % '"S p"pos Scr % % ~%o sssS
sS aieass'1 II" o Tsrass th "" careful to avoid !" analysis Of these figures '' "'
ms mt t to %s "tss4h h" aes ' ans to s, 'ns x %stss n " 5"sH' u "r ne" '%s t s"%rsny S, ass
both annually and fro" time to TIM between annual periods \ large mum
ter OF savings, is invested with rs 1t is only natural tbs such investors
Of heir funds It is largely o rsass"r the small s,osNho1aers ts 'nsse Few
. : G f"!%sn s saSes stSs m az that "S"a" "s ' OF this i" or '% s"' S'i e as% a 's' westerns %s 'ss
t"s" of o u%"t territory Ts erI'' r 's is sS wh %"set a ' %'ata a%r 'G 1"a" service target goes
sixth, TH~ oo %".% ana ss Tsa, 1 "r%rs c :ma rs s"z. ,ryS n1" US" "M S% Ss. '1" s%'s'r and %
9 SiSs' e%S"" !" "' the 9 ," a'"''SS '"' wages i" not ''""'' by my public
e. osnss ' sas: s ssr srs . ana "' %sS"ssss S ssns%s'; 4n ss" ar ssn "S% ""s s a"s n.*
| portionate holdings OF local Stockholders in this Company is so we'll know
that it will be readily understood that a goodny portion of the amount avail
able for dividends vas likewise locally distursed. 1t VIM o very evident rom
the foregoing that he Mountain States Company is in every W IA truly local
in character am management am is n small factor in the industrial health
of the Rocky Mountain region.
One of the most saient features OF ~ past years experience has been
the rounding out of our territory by the acquisition Of practically an Of the
telephone properties in Arizona, I think it is generally known that this state
since its admissions to the Union, is rapidly forging to the front in all of those
attributes which, characterize western development. The recent establishment
of hrge irrigation projects las don much % enhance it's agricultural produc-
Since thu telephone properties of tht state were not $ 20 wholly Identified
with the Bell system an Bell progress al might be deemed best for all, it was
group. our experience, in taking over these properties, somewhat new
and att the same time educational Arizona is the only state in the Noun
tain States region having a Corporation Commission with broad jurisdiction
overt telephone properties n we naturany approached The negotiations for
been obtained with the intelligent cooperation of thu commission, which has
evidenced a ken desire to work with, rather han for or against, our Company
in the effort to provide general nj comprehensive telephone service for thai
state.
and confidence to the commission N aims n intentions and the methods
proposed. 1t is only just to state that somewhat to our surprise ven in the
ing a number of features Of our business usually designated IS irregular IN
discriminatory, probably to a greater proportionato extent in Arizona than
elsewhere Elm our territory. This result can only be attributed to the fact that
the Corporation Commission law Of that state is administered II a fair, capable
and intelligent manne If a ike administration will result ron public utility
acts in hose states sin our territory whose legislators nov have Public Utility
Commission laws under consideration, our stockholders need hay nc hesHa-
ton in commencing this form of legislation.
In closing thisb BRIEF summary of the more important features of our busi-
our army OF employees. Largely to them is due the successfu results o the
past year. To redprocate in some measure thslo loyalty and devotion, a plan
for an Employees Benefit Fund has been adopted, which will include PENSIONS
life d accident insurance AM siGkne m disability benefits. Much space
has been given to this plan in the public press, so thai it is unnecessary here
to 20 into its details only wish to emphasize that It, like many Of
strongest business resources is made possible only by our associate with the
american Telephone ad Telegraph company as me Of the units OF the great
Bell system.
Respectfully submitted for The Directors
T. B. FIELD, President