Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-03
AT. 1t. HAS RECORD
YEAR IN EXPANSION
figures for 1929 Show Gains
in Revenues and
Service.

added to the national network, by the
amount Of money expended Tor growth
and service improvement, and In other
particulars with respect to service, 1929
was a record year in the history of the
Bell system, according to the annual
report of the American Telephone &
Telegraph Co. in which President Wal
ter S. Clifford tells the 469,801 stock
holders the results of operations for IL
months ended December 81.
The number of stockholders Increased
15,205 during the year and the average
number of shares of capital stock out
standing was l3,113,746. Net earnings
per share available for dividends were
$12.67 The corresponding figure for
1928 was $12.11 per share.
For the system as whole, the report
says, THE revenues from local exchange
service increased @47,000,000, or I.3 per
cent over the previous year, and reve-
nues from toll and long-distance service
increased $45, 900 900, or las per cent.
The increase in total operating revenues
was SOS ,000, 900, or 9.8 per cent.
Total Assets.
1.-THE total plant and other assets at
the end of the year amounted to $4,226,-
100000 and the net earnings were at
the rate of So per cent on the cost of
plant and other assets. Over one-haf
of the present telephone plant of the
Bell System has been constructed during
the last five years.
About 600 900 telephones-the largest
number in any year-were added. To
provide for growth and to improve serv-
ice, $6e6, 900, 900 was spent on construc
ton Of new telephone plant and $45,-
100000 on construction Of new manu-
featuring facilities These expenditures
of $6s3, 900 900 were the largest in any
one year and furnish a basis for still
further progress. It Is expected that
the expenditures for 1880 will be over
100000 ,o00."
The report emphasizes the extension
and improvement of service During
the past flve years the average time re-
quired for completing q long distance
connecting has been cut from rs min
uteS to "a minutes and in 1929 more
calls were handled while the calling
subscriber remained at the telephone.
Since 1926 there has been series of
reductions in long-distance rates, two
occurring within IL months and each
resulting in q saving to telephone users
of approximately $4,000, 900 annually. In
about three years, the charge for q New
York-San Francisco call has been re-
duced from $3.50 TO 50, and Chicago
NCW 4OLk C&u 1IOIn $500 10 %.
The average elapsed time between
receipt of customers order and the
installation Of service has been reduced
in f1ve years from 81 to az days and
the proportion Of customers orders cur
rently subject to delay because of lack
OF facilities has been reduced from 10
per cent to Q per cent.
2O,OeO,OOO Telephones.
-
more than 10000 900 telephones inter-
connected In and with the Bell System
and practically any one of these can be
connected promptly not only with any
other telephone in the United States,
but with 100000 others in Canada,
Cuba, Mexico and Europe.
Two additional short-wave trans
atlantic radio telephone channels were
added during the year, making one
long-wave and three short-wave chan
nels now available. Work is being
pushed on the TRANSATLANTIC telephone
cable which will mot be subject to the
inherent uncertainties Of radio" Ship
to-shore service was inaugurated to and
from the steamship Leviathan and it
Is expected In due course that this
service VIII be extended to other steam
ships.
Successful demonstrations of two-way
plane-to-ground telephony have re-
suited In requests for this equipment
from air transport companies and Gov
eminent departments. Such telephone
communication for navigational pur-
poses will add greatly to the safety and
efnciency Of transportation by air.
The number of employees, including
the manufacturing division, increased
$4,000 to a total at the end of the wear
OF $4,000. Due to growth and turn
over IL was necessary to train l75,OOO
new employees. Approximately 10000 OF
the employees are stockholders.
Subsidiary Business.
It is stated by Mr.. Clifford that the
business OF Electrical Research Products,
Q subsidiary Of the Western Electric Co.
V limited to making arrangements for
the commercial use Of such contribu-
uons 70 the progress of electrical
science as modern high-speed submarine
telegraph cables and the recording and
reproduction of sound for use in con-
nection with monographs and talking
motlon pictures by concerns operating
In the fields In which they are appl-
cable. 1.-THE American Telephone 4,
Telegraph Co. neither directly nor in
directly, through Electrical Research
PRODUCTS or otherwise, owns any stock
IN any motion picture enterprise or any
other commercial undertaking operating
in these fields"
While the business of Electrical Re-
search Products IS Of great Importance
In It's own field, its earnings obviously
cannot be q material factor In an enter.
prise OF the size of the Bell System"
Western Electric Co.'s new plant at
Point Breeze, Baltimore, Md, was put
IN operation and provision made for
large additions to the plants at Haw-