The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1921-03-11

the year. so that saving of prac
tically $1,000 per month should be
made on that account This Is the
first act in our retrenchment policy
and others will be taken advantage
of just as expediently as is possibly
consistent with the service.
General
4 "As stated at the time Of the pur-
chase of the Tri- State plant. the &C.
curing OF that additional wire plant
congestion in our underground and
aerial cables entirely. The acquired
plant only partially relieved the con-
gestion and then only in few loca-
lions close in the exchange but has
not provided any relief as the outiy
ing residential sections which have
been developing and will develop.
Considerable more underground an
aerial Facilities will be needed to take
care>of the developing sections of the
City in West Mankato, Last Mankato,
and Dukes Addition this coming year.
Additional rural circuits are needed
in all directions out OF Mankato to
relieve present congestion and take
care of new telephones In the rural
districts
lat the Good Thunder Exchange 1t
will be necessary to replace the
present open wire with cable as the
present plant is not only inadequate
but is in such condition that its re-
Placement is necessary. An estimate
OF the new facilities required togeth-
er with plant TO be replaced is being
prepared for your consideration.
Building.
THE present building, as you are
well aware, is crowded and congested
and wholly inadequate for the future
OF the company. Co-incident with the
crowded condition, the building is
decided unsanitary, the toilet racili.
ties are inadequate for the number
OF employees IN the building. 1t will
switchboard facilities, office space,
or toilet rooms without rehabilitating
the entire building which, even were
it possible, would not be wise in
vestment. ! advise that steps be TAX
en- to gather data for modern. re-
inforced, concrete building to be built
On the company lot on Second Street,
to be built just as soon as building
conditions and the finances Of the
company will warrant the undertake
ing. In this connection, the building
committee should take into consider
alton the housing Of the Tri-State
long distance switchboard and oper-
atorS as that company has expressed
a desire to rent a portion Of the pro-
posed building and will possibly re-
Quire some office space in addition 70
the space required for its long dis
tahce operating room.
Assets and Liabilities
30 70 n
the assets and liabilities of the COM
rany together with an itemized state
ment of the revenue and expense &C
counts with comparative statement
indicating the revenue per station
operated in 1920 as against the year
1919. You will note that after the
dividends are deducted that defici
appears Of S2,153.92 as against pro
fit in 1919 of approximately S2.09 per
station. This condition is brought
about by the abnormal cost OF labor
most other lines of industry, we
could not pass on to the consumer
this increase, but were obliged TO abb
sorb it until relief could be had in
the way of an increase In our rates
for telehone service, which we did
not receive until the first OF Septem-
Der 1920, so that the old rates were
in effect eight months of the year.
Had tie new rates been in effect for
twelve months instead of four, our
gross revenue would have been ap-
proximately S115,500, in places Of
los, 900, so that profit rather than
a deficit would have resulted.
The report Of the revenues and ex-
penses for the year 1920 shows that
the total revenues OF the company TO:
the past year were S104, 903.36.
Total general expense, $17,718.73
Total telephone expenses, 93,205.SS.
Net telephone earnings, $11,697.47.
Undivided profits S2,15392. The total
assets of the company are, S410,577.-
so and the total liabilities including
undivided profits $410,577.50.