The truth about the trusts : a description and analysis of the American trust movement . -out the States of Louisiana and Mississippi, the greater parts of Ten-nessee and Kentucky, and in Southern Indiana and Illinois. Thiscompany has absorbed the Great Southern Telegraph & TelephoneCompany and the Ohio Valley Telephone Company. Duluth Telephone Company operates in Duluth, Minn.; WestSuperior, Wis., and vicinity. East Tennessee Telephone Company operates in the easternparts of Tennessee and Kentucky, embracing the cities of Chatta-nooga, Lexington and Frankfort. It is controlled jointly by the


The truth about the trusts : a description and analysis of the American trust movement . -out the States of Louisiana and Mississippi, the greater parts of Ten-nessee and Kentucky, and in Southern Indiana and Illinois. Thiscompany has absorbed the Great Southern Telegraph & TelephoneCompany and the Ohio Valley Telephone Company. Duluth Telephone Company operates in Duluth, Minn.; WestSuperior, Wis., and vicinity. East Tennessee Telephone Company operates in the easternparts of Tennessee and Kentucky, embracing the cities of Chatta-nooga, Lexington and Frankfort. It is controlled jointly by the GROWTH OF THE TELEPHONE TRUST/ {American Telephone *Sr» Telegraph Compan\ System). d Affiliated Properties—Bell The first Bell companies were organized in 1884. As shown by the chart, in1885 t«he total number of instruments in use was 60,873. In 1890 this hadincreased to 483,790. Ten years later in 1900, the number had grown to1,952,412, and at the end of 1903, was no less than 3,665,582. The diagrambelow is designed to indicate in a graphic manner, this wonderful CHART No. VII. Note—The above figures apply exclusively to the Bell properties, whichoperate all over the United States and are an aggregation of 36 corporations, alllinked together by a parent company. The total floating capitalization of theentire Bell Telephone group amounts to nearly $400,000,000. The telephone industry independent of the Bell companies is operated by atleast 2,000 companies (many very small) who are now operating approximately2,000,000 instruments in comparison with the Bell output of over 3,660,000. Seetext. Copyright, 1904, by John Moody. All rights reserved. THE GREATER FRANCHISE TRUSTS. 377 Cumberland Telephone & Telegraph Company and the parent com-pany. Empire State Telephone & Telegraph Company operates incentral New York, embracing the towns of Auburn Geneva Canan-daigua, Oswego, etc. Hudson River Telephone Company operates in the counties ofNew York State bordering on


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