Evening journal., 1922-01-27
TELEPHONE USERS AS OWNERS.

UN p BAItDO District Manager Of the Diamond state
He Telephone Company is sending out personal let
ters to telephone subscribers this district urging their
purchase OF the shares Of the American Telephone and
Telegraph Company. This is in line with the best
thought Of the times.
It is becoming more and more evident every day to
houshfu people that It very desirable that the users
Of public utilities services should be interested inves
tors in the companies that render the service wide
spread ownership OF this sort in the communities served
leads TO sympathetic understanding the part Of the
Of the problems dlcultes with
which the utty companies confronted from time to
time, resulting in cordial relations between the pur
veyors OF the service and their patrons.
Another advantage that grows Of wide distribution
Of stock holding is that the financing OF the growth Of
the properties so important to the communities is made
easier by persons contributing the necessary
creases in capital from time TO time.
Probably the strongest argument Of ALL however, lies
in the great desirabty OF the profits from conducting
the public utilities services in the community, remain
ing in that community for the benefit Of its own citizens
instead Of being taken away from the community FOR tho
benefit of stockholders located in other parts OF The coun
TRY.
one Of the recent developments of this idea Of wide
spread local ownership OF the shares Of the public utl
ties by their patrons has been proposition that every
OF the telephone. for example ought to own enough
stock OF The telephone company to pay his telephone bills
out or ine ulNluenuS MS Stock lUtTe -
merit in this thought and in The OF the American
Telephone and Telegraph Company it would require the
dividends from very few shares OF stock at the rate OF
50 per share per annum, pay the average telephone
subscribers telephone bills.
There another side TO this sort Of thing in which this
paper is keeniy interested that the encouragement OF
habits Of thrift and saving by our people, about which so
has been publicly spoken and written OF late years
The Liberty Bond campaigns during the war brought to
Lilo m
of this kind in country like the United States where
the average earnings OF the workers Of the country ex-
coed those Of any the globe Hundreds OF thou
sands of people started mouey and became owners
OF securities that prior to that time had never given that
sort OF thing any serious consideration
The great advantages to country Of having its citi-
zens develop habits Of saving and thrift become
generally recognized and the need for ii in our own
country stands urgently that it is hard to over
state its Importance
one OF the very best ways to accumulate substantial
competences is TO select high-grade conservative secur
ties such as the shares Of the American Telephone and
Photograph Company and buy them upon some easy pay
ment plan Almost any bank or trust company wih as
sis its patrons do this by loans AGAINST the securities
We understand that the American Telephone and Tele
graph Company, directly indirectly owns The entire
capal stock OF the local Bell Company and about 90 pei
cent OF all tho other socaled Boil Telephone Companies
lin the United States The American Telephone and Tee
graph Company one Of the largest industrial organza
lions in the country and has $4,000 shareholders
district Manager Barto points out with eniable prid
that over 1000 Of the employees Of the company are res
ary paying for shares OF It's stock taken under recen
subscription plans and that already some 23OO OF then
hold shares for which they have paid In full He also
points with natural satisfaction, to the dividend record
OF the American Telephone and Telegraph Company
which has paid dividends regularly for the last forty
wears at rates varying $50 per share annum tc
so per share per which is the present rate,diy
dends being paid quarterly in January April July and
october.
The growth OF the Bell Telephone System in the uniteC
states is one Of the scientific and commercial marves o.
The age Only brief fortysiX years ago, the telephone
was exhibited at the Centennial in Philadelphia by Alex
amer Graham Bell and regarded by most people az
merely another interesting novelty that might perhaps d
called scientific toy Today its wires reach into ever
nook and corner Of the continent connecting up som
twelve million telephone stations and it is even possib
IN nick up your telephone and speak to the Island o
cs,ba. Tanscontnental telephone conversations from
New York TO san Francisco have become common a
to no longer even excite wonder
MI, H., prrte Cochran is authority for the statemen