Evening journal., 1913-03-19

IoleRramh .....ssss.s ssts-sss'
Telephone Conversations ...........
Total .............. ..'..'''''''
These figures show that while Eu-
rope has three and half times the
telegraph traffic Of the United States
and nearly twice the first class mail
traffic. il has only two-fifths OF the
telephone traffic, owing to the greater
efficiency and distribution OF the tele-
phone IN this country.
The Bell system showed a gross
reyenue-not including that Of the
conencted independent lines-of $780,
10000 This was gain OF 100000
600 over the previous year. A very
careful appraisal conducted by the
engineers or the physical property OF
the Bell system as OF August LIST, last,
showed that while the book cost was
S736. 600 900, the cost OF reproduction
at that date would have been $751;
O00. 600 In other words, the COM
pany was carrying the property on
its books al SCI. 100000 below It's ac-
fual physical value at the time OF its
appraisal. In this appraisal there
were Included no intangible assets
whatever. such as good Will, patents,
franchises. cost Of developing the
business. etc. For the year there was
an increase In assets of S92,3OO,OOO,
of which S75.600 900 represented cur
rent additions to the plant, including
the necessary real estate. During the
I'VE year period between 1907 and
1912 the assets of the Bell Companies
have increased S311 100000 while the
capital obligations and payables out
standing have increased only little
over S1Q9. 100000. The surplus an re-
serves have increased from SCI 300,-
600 to 1854. 200 600 or nearly S103,.
600. 900. even after setting aside S..
$4,000 for the Benefit Fund recently
created for the employees.
The American Telephone and Tele-
graph Company itself slows total
earnings of 42,717. 99275. and bal
ance of $6.047 ,357.64 after payment q
interest and the regular dividends OF
per cent. per annum. At the close
of the year its outstanding capital
stock was $334,S05700, and bonds
$105.002.00J. For the capital stock
outstanding there has been paid into
the company's treasury S356.732,2lS
or nearly $22,000,000 more than the
par value of the stock
scarcely any tOIBNilliOn III Ah'
United States has its capital stock
more widely distributed than the
american Telephone and Telegraph
lCompany. A majority OF the shares
lare held by women and less than
per cent is held in the name Of brok-
erage houses. The average number
of shares held by each stakeholder al
the close OF 1912 was shown TO be Sc
The number Of shareholders on the
books Of the American Telephone and
Telegraph Company at the close o.
the last year was 50.297, which ind
Gates an increase for the year OF 1856
The following extremely interesting
table shows just how the stock Of thu
company is distributed and the mum
her 4 shares held by both large ans
small holders:
43553 held less than 100 shares each
1884 held from 100 to 1000 share
each;
35s held from 1000 to 5000 share
each;
10 held 5000 shares OF more eacl
(omitting brokers and holder
IN investment trusts. etc).
or the holders Of less than &c
shares each. $3.50 held shares o
Iess each; 1883 held 25 shares o
Tess each.
The report tells OF The new pla
announced January LIST. last, for En-
boy ees' Pensions. Disability Benefit
and Insurance adopted by the Amer
can Telephone and Telegraph Con
pany, by its associated companies,
the Western Union Telegraph Con
pany and by the Western Electr
Company. For the purpose OF inai
Eurating these benefits the America
Telephone and Telegraph Comnal
made an initial appropriation Of $.
1000. There are about 100000 er
Uoyees-men and women--in the Sc
Nee OF the companies concerned vi
viii be directly or indirectly affect
BY this provision. The plan has be-
deliberately worked out and will. IL
believed, result in the increased ha
piness and betterment Of employees
The company has worked hard
secure the Unexplained ocean
ocean service. On this point Pre-
dent Vail says:
t"Experience with the engineeri
devices and methods employed IN
New York-Denver Line having de-
onstrated their value under seve
practical conditions, a systematic
PRODUCTION of these Improvements W
undertaken and actively prescott
throughout the United States. so III
at the end of 1912 there was tot
Of 54,750 miles of the heaviest-gau
wires equipped wit the rev arranf
rnent thus doubling their transm
sion efficiency, and in addition to Il
there were obtained, without any {
renditure for new wires, phantt
circuits equivalent TO 1850 miles
the heaviest gauge circuit. These i
provements have brought into CO
ruunication with each other plaf
formerly too remote. and between
great number Of places less reno
noteworthy improvements in the 81
Vice have been reported
Engineering plans have been co
pleted for the extension Ct four hea
copper wires from Denver TO s