The chronicle=news., 1913-03-19

These figures show tina, while Eu-
rope has three and half times the
tcicEraphic traffic Of the United
States and nearly twice tn. fir.,
class mail traffic II has only two.
fifths OF the telephone traffic. owing
to the greater efficiency and dissri-
button Of the telephone In this coun-
try.
The Bell System showed u gross
rcvcnuc-no, including that ot tn.
cOniss.rt indcpc nticnt liucs--of
5000 900. This WAS u Huin Of
$4,000 QUO over the previous ycnr
\ very careful apprisal conducted by
the engineers Of the physical prop
'rrty Of the He'll system as OF Angus,
is'. last, showed that while the book
cost was 373I."o0. 900. the cos, Of
reproduction ut that date would hry"
been 41a;. 100000. In other words,
he company was carrying the prop
Icrty on It's books ut sol VUO. 900 be-
low Its actual physical vaiu. ~ the
time Of Its appraisal. In this np.
praisal there were included no In
tnngil'lr asscts whatever. such nS
good Will. patents. franchises. rost
OF developing the business. etc. For
the year there was au increase In as.
sets of &?2.:0o,0OV. Of which SIS
COO oVO represented current uddi-
;i"ns To the plant. including tn.
necessary real estate. During til"
five year period between 1907 and
1912 the assets or the Bcll Compan-
les have Increased 100000
while the capital obligations and
payablcs outstanding have Increased
only little over lo3.0OO.O00. TIL.
| surplus and reserves have increased
from 100000 to &lGl.:00. .OOU.
or nearly $i03.hOV.0OO. even after
setting aside IS $4,000 for the
Benefit Fund recently created for
the employees.
The American Telephone and Tcle-
graph Company itself shows total
earnings of $le.717.es2.13. aud /,
balance OF $G.Oi1.257.G4 after pay
uent OF interes; and the regular
l.dividends of s per cent per lnnum
At the close of the year its Outstand.
Ing capital stock was $%Ii.SO5.7Oo
.nd bonds $l05,OO2 900. For th,
capital stock outstanding there has
been paid into the company's treas.
'Iyry 1856, .32.2lS. or nearly $2c,.
i 100000 more than the par value OF
the stock.
Il scarcely any corporation in tn
j, United states has its capital stocl
more widely distributed than til,
American Telephone and Telegraph
Company. a majority of the shares
ar: held by women and less than
per cent is held in the name OF brok.
ernSe houses. The average number
of shares held by each stockholdei
at the close of 1912 was shown to bt
&C.
ii The number of shareholders on tn,
books OF the American Telephone unt
Telegraph Company at the close o
the last year was JO.297. which in
dfcates an increase for the year o
1855. The following extremely in
tcresting table shows Just how til,
stock OF the company is distributed
aud the number of shares held b,
both large and small holders:
1858 held less than 100 share!
} each:
II G,354 held from 100 to Loot
shares each:
36G held from 1000 to 5000
n shares each:
~ held 5000 shares or NOR,
each fomittins brokers and holder.
In Investment trusts. etc.).
or the holders of less than 1W
less each: 31,953 held 25 shares ol
less each.
The report tells OF the new pIar
announced January list. last. FOL
Employees Pensions. Disabilit!
Benefits and Insurance adopted b,
1.-THE American Telerhoas and Tele