New Britain herald., 1926-02-02
TELEPHONE CO. IS
 ID EXPAND MORE
nnual Report DisclOSes Con-
 structiOn Program

New Haven, Feb. ? The South. ern New England Telephone com pany has planned the largest con structlon program In Its history for 1926, according to the annual report read by President James T, Moran at the annual meeting of the stock holders here today, The program will exceed that carried out last year. the report says, when gross plant additions represented an out lay of s5,9l1,00o.
 The following directors were re- elected at the meeting: l., James English. John w. Alling, chairman, James T. Moran. Victor Morris Ty- Ter. William F. Henney, Augustus II, Bullard. Harry (, Knight, Harry B. Thayer. Dennis A. Blakeslee. John ], McKeon and Walter $. Clifford
 To carry on the expansion pro. gram. the presidents report con tinues It Is probable that capi- tai stock increase of s4.000,000 will he necessary. The balance sheet of the company, as of December Sl, 1895, shows assets totaling s4S,77G- OS6,65 in which the major items arc land and buildings valued at SS,- S9b,071.li and other telephone plant and equipment valued at sS6,725,- 1lSTS.
 Has Rig Surplus
 The company has s94,OOo,00O cap ltal stock outstanding, and a funded debt of sl,O00,0O0. The corporate surplus unappropriated at the close of 1895 amounted to $l,660, ,945.l9, The income statement for the year shows operating revenue of sll,- l0l,67S.57; telephone operating eX- penses of $7796,507, leaving net op- rrating revenues of sS,S05,171.57.
 Deductions for uncollectible op- rating revenues and taXes assign able to operation leave an operating income of S2,527GS746. To this figure is added $53,466.90 the total gross income being $2,5S1,154S6. Deductions for rents, interest and other purposes leaves net income of $2,209.G12.96.
 With dividend appropriation of &1.S00. 900 there is. after deducting &1OO,000 appropriated to the em- ployes' benefit fund plan, corpor- ate surplus for the year amounting to sS09,612.96. The report shows net gain ot i6,SS0 stations, or seven per cent during the year, resulting from the installation of 42,721 and diseontinu- ance of 2G,341 stations. A develop Inent of l7 telephones for each 100 of the states population Is indicated The usage of telephone service dur Ing 1925 was comprised of 3S7,4Sl,- GOO local and toll calls, exclusive of 1,974,000 calls to points outside the state completed over lines of the American TelephonG and Telegraph company. Of this t%al, 372,164,oOt were local calls. an increase of 1o.t per cent over 1924.
 Many Toll Calls
 Calls to other exchanges handled over the company's own toll circuits totaIled 15,3l7,O00 for the year, eX' cceding by l0,S per cent the cor responding figure for 1924.
 Under the company's plan for enl' ployes pensions, disability benefits and death benefits. $S6,411 was eN' pended during the year.
 The building plans for 1926 in clude three major projects. Two oi these are new buildings at Derb! and New London, designed for neces sary businessa offices and complete central installings. The third is al enlargement of tho main operating building in New Haven which vii provide space for the expansion o central office equipment required II 1927.
 Improvement In New Britain
 Switchboard facilities will be in creased in Bridgeport Danbury Hartford, New Britain, New Haven Norwalk, Norwich, Torrington an' Waterbury. In Hartford the presen machine switching equipment vii he doubled by inc addition of q neV init of 10000 terminals.
 The report shows that at the eh' of the year there were 5,562 stock elders and 4.isS employees.
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