American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1916-04-20
PANNING THE "PLUTES.-
(By Guy r. LaCoste.)

A favorite indoor sport in these pip
ing, strenuous days of grabbing a liv-
ing is knocking the "%plutes," and oh!
joy! when the said "plute" happens
to be in the guise of a public utility
corporation that insists on u pay
ing u bills every month or discon-
tinue its service.
Just now the telephone company is
having a merry little scrap with the
people of Murray, and | feel constrain-
ed to write something concerning the
company at large because of a rather
intimate association with its officials
and its methods for some twenty years.
In the beginning, l am afraid that
l will be unable to write about
"plutes." E. B. Field, the controlling
genius of the Mountain States Com
pany, the man who is responsible for
the organization and the building OF
the great system is not yet in the
millionaire class.
Starting life in Denver at a salary
of sixty dollars a month, he has,
through remarkable industry and
great executive ability, builded a
wonderful corporation, and, in the
meantime, amassed moderate wealth.
But, unlike most great organizers, he
has founded his success OF a coop
erative plan, where he and his stock
holders share alike.
Tho tA1nnhAnn AA..nany hoa M
outstanding bonds, neither has it ever
issued preferred stocks. There is on
ly the common stock.
have a friend in Denver, a prom
inent physician, who has invested his
savings in telephone stock these past
ten years or more. He bought at fif-
ty dollars a share and when the Noun
itan States Company was formed re-
ceived Ii share of hat stock for
every two shares of his holdings In
the Colorado company, making his
shares cost him one hundred dollars
each.
Today their market price is around
one hundred nine dollars. During
the first years of his investment he
was paid six per cent annual divi-
dens, now he is making seven per
cent. 1t has been a very safe and a
very sound investment, something like
government bonds, but ! would have
preferred Cardiff stock for instaEl,
There is more excitement when you
can buy at a few cents and sell at a
few dollars a share.
Other public utility corporations
starting in Colorado at the same time
were not so scrupulous as Mr.. Fields
company. One took its securities TO
New York and If an investor wanted to
plunge the opportunity has never been
wanting.
There Is bound TO be grief in the
handling of telephone service. When
a company must talk with a few hun
dred thousand clients, some Of them
4 o Of times a day, and when the
telephone operator is only human
after all, Il would be rather surpris-
ing If there were not a good many
ollcnts with grievances, some real,
some fancied. Few clients. however,
sop 10 consider how vast an organi-
zation the telephone company Is and
wow multitudinous are it's difficulties,
From a junk heap in Denver Mr..
Field has built a wonderful plant and
. stretched a network Of wires over this
vast western country. crossing and re-
I rrcesiug mountain ranges and great
deserts, reaching 10 remote hamlets
3 and connecting with other systems 50
hat one may talk az readily to Maine
or Florida. TO Portland or Sacramen-
TO. as he can to his residence a few
4 h'ccks away from his office.
Does all this system pay? Well, ]
know Of an instance which Is very
'ypical Of the endeayor Of Mr.. Field
o truthfully say that there Is no dis
tr'ct. no matter how remote, that his
company cannot give instant tele-
-hovic communication. Some years
Ego | vas Interested with others IN
O. Hcve'cr men Of Es'es Park, a gar
4ou 81 'he gods. lying In the very
per OF tie occkios Il tie foot o.
re Peak IN the northern part OF
"olo-a7o. We wanted telephone ser
vice, but a connecting line must ~
through thirty miles Of Rocky noun
ain -ouyons. Mr.. Field was willing
% av"rree veg great. and the
company was not then In the finances
that d Is now. An arrangement was
finally made. I established the Estes
Park Telephone company. ] furnish
ed the poles and the Colorado Tele-
phone company strung its wires and
maintained it's service. Things went
very well in summer, we almost PAID
expenses. But every week or 80 dur
ing the winter season a healthy younf
blizzard would cavort down the can.
yon and tear out a half mile or SO o.
Sir. Fields telephone wires, and q
gang OF workmen would Immediately
struggle with the repairs. The frs
w1.. tkxro ru.a 4. I~aa 90 tho ma M