Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-01-01
TELEPHONE COMPANY HAS
GREAT FINANCIAL RECORD
Remarkable Showing Brought to
Light in Albcmarlc Concerns
Rate Petition.
REQUEST is TURNED DOWN
Corporation Commission Believes
Fair Returns Will Come i'm Near
futurc-RcpOrt Reveals Striking
Efficiency in Business.

Probably one of the most remark
acre instances OF good management
and c'hclency in the operation of a
concern In Virginia was brought to
light yesterday when the state Cor
poration Commission issued an opin-
ION in which il refused the Athena rie
ieIephone Company's petition for AN
based it's decision on the condition
OF business at the present time. the
prospects for the future. and the re-
nhrkan!y able handling by the COM
n"n% OF its business, as brought out
~ The investigation Of the affairs OF
IN" concern. and also the fact that
II earned fair return during thf
hrst SIN months OF the year.
Despite the fact that the company
slams not to be making money at
me present time, the conmiSS ion is
of the opinion that ii will be able
20 make a fair return within the
next few months on its investment
me history OF the company. as re-
counted in the opinion, which was
written by Major Alexander For
ward Tor the commission. is indeed
n2isworthy II shows that. ting
pany since 1897 has Increased it's
holdings To Il value determined by
me commission for ratc-makinS pur-
poses TO ne SlS3.5G0. and by the COM
the financial status and history OF
the company. the comm!SS ioncr. in his
opinion, says:
started with SI:,GuU Capital.
by combination or good man
ngemcnt and good fortune this COM
nany has had truly remarkable
financial history. I, started with
$1,000 capital. on which no dividends
from 1897 20 1909. inclusive. DIVE
Uond- paying began in 1903. and for
Two years the return to stockholders
Was per cent per arnu;n. Ten per
cent was paid III 1905. and in the
meantime most Of the net earnings
OF the company had been put into OK
tension OF its property. so that by
i.N" the book plant value was $751;
In that year = dividend was paid
in cash o! 10 per cent on the frs;
! capital. am! IN addition a 100 per cent
!. stock dividend WAS paid No dlvi-
dend Was Forthcoming the next year.
/ lnt S5l.o0o increase in book value
vas Wa, added 4 Me. capital. ana s3i.Soo
ddit ional c; VA! stock was sub
scrioed In .e5S and l9C? a dividend
i'll and 1914. n dividend of ia per
cent was declared by the directors.
In 1912 the stockholders drew 10 .
per cent. and in 1913 l@l-:. Divi-
and in 1915 and 1915. l6 per cent was
pa!u. In 1917, ~ per cent. and in
addition, 100 per cent stock divi-
! dcnd was awarded stockholders. Dur
'i.i 49, IL 10 per cent dividend was
declared for the $4,000 invested by
| Stockholders
Officials Are Complimcntcd.
! In commenting on the case IN,
! commission highly compliments III,
| t0mpany's officials upon the cfHcIen,
| way in which TIA" affairs - the con,
| Germ have been handled. More thar
| per cent return on the stock OF tn,
| company was derived during the frs
| hait of the year just past, tn. com.
| mission estimates. The present rat 10,
| Of the company are not only as LOW
| as those of other communities SINH.
lar!y situated. hu; are much lowe,
than those in vogue in some section:
OF the state under similar conditions
The commission believes that III,