The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-02-02
EIGHT TRAFFIC men BACK ON STREET DUTY
THE TELEPHONE co
REPORT FOR 1881
Has Substantial Margin
After Payment of All
Expenses and Taxes
ANNUAL MEET TO-DAY

New Haven. Feb 2-The South
ern New England Telephone COM
pany showed a margin of $329,454
after payment Of expenses, taxes,
interest charges and dividends,
according to the report for the
year ended December 81, 1881, pre-
scented by President Harry c.
Knight at the annual meeting of
stockholders here to-day. This
compares with a margin of SSH, 33i
in 1880 and $775,176 In 1929.
Unusual business conditions were
further reflected by compar-
atively small increase in the num-
| Der of telephones in use. The
report emphasizes that during 1881
the company provided well dis
tributed margins of facilities to
take on new business when the up
swing comes, and states that while
, favorable results are not expected
for the first quarter of 1882, u
careful estimate for the year as
whole indicates relatively encour-
aging results.
The following directors were re-
elected: James r. Moran, chair
man; James English. Victor Morris
Tyler. Harry c. Knight, Dennis A.
Blakeslee, John J. McKeon, Harry
B. Curtiss, Walter s. Clifford, Vic
tor Roth, Charles p. Cooper, James
Lester Goodwin, and Allerton F.
! Brooks.
The balance sheet of the COM
pany on December 81, 1881,
showed assets totaling $SO,564,O26,
Of which the major items are land
and buildings worth $10,217,945
faIn =,
equipment valued at $65,473,202.
407,100. other permanent invest
ments amount to $365,066, work.
ing assets to $2,934,065, and de-
ferred debit items $166,647.
The company has $40,000,000
| capital stock outstanding and a
funded debt of 100000. Fixed
capital reserves for accrued depre-
citation and amortization of intan-
gible capital amount to 1884
228. The corporate surplus unap-
propriated at the close ct 1881 is
$4,536,503.
The income statement for the
year shows operating revenues Of
$17,619,179.46. telephone operating
expenses of $5,758.531.7O. current
maintenance $2,995,417.29, and
depreciation $3.O70,235.13. leaving
net telephone operating revenues
Of $5,704,905 Deductions for
nom collectible operating revenues
and taxes assignable to operations
leave an operating income of $4.-
513.559.01. To this figure is added
$180,113.01 net incorporating In
come, making the gross income
$4,693.672.02. Deductions for REM.
interest, and other purposes leave
a net income of $3.529.453.70.
After deduction of $4,000 for
dividend appropriations from in
come. there Is balance for cor
porate surplus Of $329,453.70.
While the increase in telephones
and revenues was considerably less
than expected, an increase in taxes
and charges for interest and de-
probation resulted from the added
plant which was constructed to
meet current requirements and to
accord with economic planning
for the future. These adverse
factors were Largely offset by econ
omies in operation. none of which
involved impairment of service to
customers.
The net gain of 1921 telephones
resulted from 1920 installations
and 76,087 removals. A net gain
OF one telephone was accomplished
only after approximately II install
1ations.