History of Lowell and its people . hose con-cerned in the first ])rnniotions were ^^illiam A. Ingham, Charles , Alonzo A. Coburn, Loren N. Downs and William H. Bent. Dr. Moses Greeley Parker, and, by his advice, Frederick Averl:)ecame large holders of telephone securities, the former emerging in1886 as managing director of the New England company, which hadabsorbed several other companies of the four northern States of NewEngland. The chief local service at the outset was that rendered by theLowell District Telephone Company, organized in 1879 with a capitalof $15,000. In 1880 this co
History of Lowell and its people . hose con-cerned in the first ])rnniotions were ^^illiam A. Ingham, Charles , Alonzo A. Coburn, Loren N. Downs and William H. Bent. Dr. Moses Greeley Parker, and, by his advice, Frederick Averl:)ecame large holders of telephone securities, the former emerging in1886 as managing director of the New England company, which hadabsorbed several other companies of the four northern States of NewEngland. The chief local service at the outset was that rendered by theLowell District Telephone Company, organized in 1879 with a capitalof $15,000. In 1880 this conijiany had about 300 stations in central office was then at Room 12. Shattuck block. Mr. Inghamwas president; Mr. Glidden treasurer and manager. The company in1880 was combined with a Worcester comj^any and later with theNational Bell Company of Maine imder the name of the Lowell Dis-trict Telephone Company, with a capital stock of $1,500,000. Threevcars later a consolidation of the Nation;il Bell of Maine, the Granite. 1. (? iKIi iKATIoN 2. \\ i;^ (iKNIUtAI. HOSPITAL. 3. «T. JlMlNS IIHSIITAL. AFTER THE CIVIL. WAR 375 State, Suburban and Lowell District companies gave the present NewEngland Telephone Company, capitalized at $12,000,000. To attempt to follow the financial manipulations by which thesecombinations were achieved and larger and larger issues of stockfloated belongs to the historian of the telephone utility rather than ofLowell. The operations produced a new crop of millionaires in a citywhose fortunes up to this time had been created mainly through manu-facturing enterprises of one kind and another. As control of the tele-phone in New England passed into the liands of the State Streetcrowd in Boston, some of the Lowell investors went further afieldand placed their money with the Erie Telephone and Telegraph Com-pany, which for several years had its headquarters in Lowell. It cov-ered territory in Ohio, Texas, Arkansas, Minnesota and the
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Keywords: ., bookcentury1900, bookdecade1920, bookpublishernewyo, bookyear1920
