Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1914-02-10
WAUSAU TELEPHONE. CO.
Annual Session Held i'm the Company %
Offices on Tuesday Evening.
Excellent Showing.


pany's offices, and 400 of the 160(
share were represented. The meet.
Ing was called TO order by N. Heine
mann, president, and after the read
Ing OF the minutes of the last annual
meeting the directors presented theil
annual report as follows:
Wausau, Wis, Feb. Sd, 1914
TO the Stockholders of the Tgausao
4 Telephone Co.:
4 GENTLEMEN:-W present to you
herewith our eighteenth annual re-
port:
A year ago we considered it due tC
you to make an explanation OF many
things which had occurred tie pre-.
cedIng year more or less annoying to
our patrons. These were due 10 the
change of quarters to our new build
ing before that building, which
is of cement, had thoroughly
dried and seasoned out, which
affected somewhat seriously the
switches in our central office. Also
the removal of the cables on over
| head lines in the center of the city
which had been duplicated by our
new underground cable install alton,
made it possible for US to extend our
cable work further away from our
central office, and this was put up on
our poles carrying overhead wires
/ while these were still in use, and this
necessarily seriously interferred with
our service, and the heavy storms of
1912 still further complicated the
work. We are happy to say that the
past year has been free from any of
these annoyances. We knew when
we reported to you a year ago that
our physical plant was in the best
condition it had ever been, and we so
Informed you then. The service given
the past year has unquestionably
been the best we have ever been able
TO furnish, and our entire plant is in
first class condition. OF course,
occasionally telephone needs look
ing after. but there has not been
a serious complaint during the year,
and our patrons have all expressed
themselves to US as we'll pleased. In
our Judgment we have today the
best telephone system and service in
the state, and it is our endeavor TO
increase its efficiency in every reason
able way. We have always invited
criticism, and we invite it now, and
we shall be pleased to know o. any
thing we can do which will better
the service.
During the past year we have not
made any large investment in the
way of Improvements. We have
quite materially extended our lines
within the city, especially in the
central part on the west side of the
river, and our growth in patronage
has been larger than any previous
year in our history. Illustrating this:
In 1912 the increase was from 1878 to
1897, a net increase of 119 phones;
during the year 1913 from 1897 to
1862, or net increase of 255. There
is an increasing demand on the part
of our citizens for residence tele-
phones. The territory east of the
Wisconsin river is, generally speaking,
fairly well supplied, but in our judg-
ment the territory west of the Wis
consin river should be more fully de-
veloped. This section of the city is
rapidly growing and there is {. very
decided demand there for adequate
facilities, and we cordially recon-
mend that these be furnished We
appreciate that this will necessitate
an expenditure of not less than
$40, 100000 Our financial statement
shows that we are now owing SlS, 800
in addition to the balance we are
owing on the Wilson land purchase.
This we can carry very easily al the
banks, but it does not seem to US
under all the circumstances best to
do so. After very careful considera-
tion of the matter we recommend
that our capital stock be increased
from SS0,000.00 to $l20,00000, giving
S40,000.0O of additional capital which
will wipe out our Indebtedness and
leave US the necessary funds to COM
plete our extension work within the
city. We appreciate that we Clo not
need all of this money at once, and
that we may not spend it all the
coming season, but we believe it
should be available We appreciate
that our stock is at this time worth a
large premium, the accumulation of
surplus during several years of earn
ings that result from the self-denial
of our stockholders in the matter of
dividends, and this should of course
be taken into consideration. The re-
suit is that we recommends:
First: That we amend our articles
of Incorporation, increasing our
authorized capital stock from $780,
10000 to S120, 100000.
Second: That this increase of S4O,-
10000 be offered for the term of thirty
days and longer if that seems desir-
able to the directors, to our present
stoci holders, in proportion to their
respective stockholdings, and at par.
Third: That the directors elected
at this meeting be authorized to
make and collect assessments upon
such stock subscriptions from time to
time as money is needed for the com
pany's purposes, and that they may
be required to charge interest at the
rate of 6 per cent. per annum on
every assessment so levied which is
not paid within fifteen days from the
/ date of the assessment.
Fourth: That no dividend shall be
! paid except on such portion Of the
stock as has been actually paid in.
| We believe that this will result in
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