The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1920-04-30
PRESIDENT Of ACCOMPANY
ANSWERS THE QUESTIONS Of
FERENbAUGH and CUNNINGHAM
Central Ohio Telephone Co.?

CnaSeu tne WI. VerIoH eACHdhSe
property of the Central Union Tele-
phone Company paying therefor forty
thousand dollars of the stock of this
company. tb)This company, togeth-
err with the Morrow County Tele-
phone Company. has contracted to
! purchase the property of the Central
Ohio Telephone Company of Center
burg, Ohio Our proportion of the
purchase price will be approximately
S11 900. This matter is pending the
approval of the public utilities COM
mission No provision has yet been
made for financing this purchase.
Question 4) How much common
stock do you hold? How much pre-
ferred?
Answer (4)-I hold sc shares of
the common stock Of The Mount Yer
non Telephone Company. This COM
pany has no preferred stock and new
er did have any.
Question t5) In view of the fact
that "the stockholders of the Mt. Yer
non Telephone Co. have received only
six per cent" and having due regard
for the legal effect of your answer,
will you sell your common stock at
par?
Answer (5)-Unless all other stock
holders interested in this company
were absolutely protected, / would
not sell my stock. AS one stockhold-
err, would agree to the sale of the
property of this company at its fair
value.
Question (6) If not, would you ex-
change 1t for an equal amount of in
duStrial stock of as good or better
stability and safety, earning 1919.
Answer (Gt-Yes, subject to the
conditions above named
Question ca What salaries are
paid the executive and administrative
officers OF your company?
Answer (7-For the year 1919, the
total amount paid for all officers and
general Office employees, including six
Office assistants and bookkeepers, was
$7067. .62, which includes the following
Presidents salary S400, secretary's
salary $500, general managers salary
$24OO
I Question (S) Is 1t not the purpose
OF the management of the Mt. Ver-
non Telephone Co. to increase their
stock to 100000 within the next two
years without any further increase in
the physical assets, and that the pres
ent demand for higher rates and in.
patton Of such application for in
creased capitalization, SO that the
present plant will show an earning
power capable of paying dividends or
the increased capitalization?
Answer (S)-No. Such an idea has
never before been suggested, nor Is
it possible to do so under the law ol
Ohio.
Question (O When you say ''tht
company Is composed of men with {
high sense Of civic pride; "the com
pany Is fair and its officers honest;
"it IL bound by every consideration
selfish as well as unseltlsh, to furnish
the highest quality of service at thu
lowest possible rate" we believe
these things. Do you believe thes,
! statements to the extent that You vii
waive the mOnopolistic features o
the public utilities act, and relinquisl
, your right of way and franchise II
the exchanges at Gambler, Danville
Fredericktown.. Bladensburg, an,
North Liberty to telephone com
I pany now maintaining and operating
: a large plant that will furnish servic,
! to these communities at rates lowe
) than those demanded by your com
. pany and save the patrons executive
:. committee the work of cleaning III
+ the lines and right of way to such a
extent that this company can ente
@ and operate?
y Answer (9)-l have neither tn
Z right nor the desire to waive or dis
@ regard the laws of Ohio, which ar
t framed to protect the interests of a
l. OF the people. As one stakeholder
g would be willing to sell the entir
IS property of the company at It's iai
IS value.
IS Question 0O What contribution
n has your company made to the nun
e. erous charities OF the county?
o. What we have said and ask mu,
Is not be taken In the spirit of contr
T. versy or contradiction, but that ,
ID information only. Your answers wi
re be accepted unsworn to, reservir
s. however. the right to point out az
ar inaccuracies attributable to inadvel
Is ance and with the further assuran
t. that In event no answer is made, Il
people OF Knox county are permit,
OF 10 draw their own conclusions so I
In as we are concerned.
Iir Answer G0)-None. The compal
has no legal right to give away