The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1914-03-13

month. Ell said II was necessary tc
keep replenlshing this reserve. lie
remarked that $500 was now being
expended on the company's new
switchboard. He remarked that there
was surplus OF sl4.52S76, the profit
and loss account, in addition 10 the
depreciation reserve.
income and Expenses.
Mr.. Willard also gave an account
of the income and expense during
the past year. The rentals were S4S,'
1872, showing an increase OF ST.
766.Os over those of the year before.
The tolls were s4,724.s1, an increase
OF s1,545.44. Thus the total income
was s27.12s.7s, showing an increase
of s4,31152, or. Sc per cent. The
operating expense for the past year
was s27,12s.7S, showing In increase
Of s1,s46.54, or 7.3 per cent
there was a larger percentage of in.
crease OF s1,s46.54, or 7.3 per cent.
Thus there was a larger percentage
OF increase In the income than In
the expense. This left a net operat.
ing income Of s26,332.s5. When to
this were added rents and other
sources OF income, amounting to
S450s4, there was a total OF s26..
1889. Deducting from this the un.
collected accounts. s176.05; the
amount placed in the depreciation
reserve, ss,2ss.52. and the interest,
s1,ft1 there were left available for div.
idends net earnings amounting TO
S16.17S.12, showing an increase OF
S2,s02.o2, or 81 per cent over those
OF the year before. When from this
were substracted the dividends OF
1918 amounting to s1O,0S3.44, there
was left a net surplus of s6.o94.6S.
p. NJ Ferguson said that during
the past year there had been an In
crease of about 800 in the number
OF telephones In service, bringing the
total up TO s3.032. During the past two
months there had been further in
crease OF thirty, and he therefore
had hopes that the present year
would see the business of the com
pany larger than IL ever had been
before and the growth would stead
lily continue. ell spoke OF the new
harmonic selection party ring that
was now being provided, whereby
those on the party lines could no
longer hear the rings Of those on
the same lines.
Paper BY Hotaiins.
II. C.. Hotaling, the well known
Napleton editor, now read a paper
entitled, Telephone Facts and Fibs. "
He said in part:
Cur stock Is destined to become
still more valuable, providing we
are not compelled to surrender II TO
government ownership. which is
within the range Of possibilities. Fear
Of II has placed our competitors on
their good behavior. They have
agreed to cease buying out compe-
tition and have promised that ar.
rangements viii promptly be made
whereby the independent companies
may secure for their subscribers toll
service over the Bell lines. This
physical connection win mean the prac.
tieal elimination of two separate ex-
changes in towns the size OF Man.
kato. for with toll connections with
the. Bell lines there viii be no rea-
SON why any citizen OF this city
should have more than one phone in
order to do business, and that tele-
phone would OF course be the one
reaching the largest number of local
subscribers.
Situation Was Recognized.
back in 1910 the American
Telephone and Telegraph company
recognized this situation for In their
annual report II was set forth that
the telephone system should be uni
versal, interdependent and inter
communicating, affording opportunity
for any subscriber of any exchange
TO communicate with any other sub.
scriber OF any other exchange within
the limits of speaking distance.
giving every subscriber every pos.
sible additional facility for annihiIat.
Ing time or distance by use of electrical
Transmission of intelligence or per-
sonal communication. II Is believed
that some sort OF connection with the
telephone system should be within
reach Of all.
This Is Just what we all want.
and what We have been waiting for
these many years, but the Bell in.
terests were unwilling to give the
Independent companies this physical
connection and in their opposition to
a square deal and improved sery-
ice seemed to have had little
trouble in securing the backing of
those occupying places prominent in
public life. This very company has
had some experience with the pledges
and promises OF this class OF men.
VIII Become a Reality.
at now looks as IL this physical
connection would become a reality
through the efforts of United States
Attorney General ]. c. McReynolds,
although the enforced OFFER of the
Bell interests is surrounded by un.