[Trade Journal]
Publication: Electrical Review
New York, NY, United States
vol. 10, no. 10, p. 5, col. 4
The annual meeting of the New England Telephone and Telegraph Company was held in New York last Monday. The directors' report for the year showed that the gross earnings were $919,109, and the net earnings $259,413. Compared with the results in 1885 there was a decrease in the gross earnings of $1,732, a decrease in expenses of $37,328, and an increase in the net earnings of $35,596. During the year dividends were paid amounting to $210,000. The underground system has been considerably advanced, and during the present season the wires will be made continuous for a distance of 143,000 feet. The old board was re-elected, consisting of W. H. Forbes, Thomas Sherwin, Chas. P. Bowditch, T. N. Vail, of Boston; Henry S. Hyde, of Springfield; Frederick Ayer and Moses G. Parker, of Lowell; Stephen Salisbury, of Worcester; Benjamin C. Dean, of Manchester, N. H. Mr. Thomas Sherwin was re-elected president; H. S. Hyde, vice-president; W. R. Driver, treasurer; and F. J. Boynton, secretary and auditor. The selection of a general manager, to fill the vacancy caused by the resignation of Mr. J. N. Keller, was left with the executive committee, consisting of Thomas Sherwin, T. N. Vail, W. H. Forbes, and Moses G. Farmer.
