”REPORTS A PROSPEROUS YEAR.

The capital stock of the Citizens’ Telephone Company of Grand Rapids, Michigan, has been increased from $2,000,000 to $3,000,000. The increase in the capital stock is for the purpose of erecting new exchanges and improving the old ones in the territory of the company. The old board of directors, consisting of C. F. ‘Rood, E. B. Fisher, Philip Graham, L. J. Rindge, G. W. Perkins, J. B. Ware, Edward Fitzgerald. W. J. Stuart, Cyrus E. Perkins, Robert D. Graham and Elbridge G. Studley, was re-elected. The annual reports of the secretary and treasurer showed a very prosperous year. The report of the secretary showed that of the 1,605 stockholders, 1,068 are residents of Grand Rapids, 409 are residents of the state outside of that city and 128 are residents of 33 other states. Of the stock now outstanding $1,330,000 is owned by Grand Rapids people, $420,000 is owned outside of Grand Rapids in Michigan and $185,000 is owned by stockholders outside of the state.”

Reference Data:

Telephony, Vol 10, by Harry B. McMeal, 1905, page 207