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The day book. (Chicago, Ill.) 1911-1917, January 31, 1914, NOON EDITION, Image 1

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1914-01-31/ed-1/seq-1/

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NOON EDITION
IMOON EDITION
THE DAY
An Adlesi Daily Newspaper.
N. D. Cochran, .gg TeI' Monroe 353.
Editor apd Publisher. JgggS Automatic 51-422.
500, South. Peoria St. 398 By Mail, 50 Cents a Month.
VOL. 3, NO. 105 Chicago, Saturday, Jan. 31, 1914 ONE CENT
CONGRESSMAN PLANS FOR UN
SAM TO OPERATE ALL
Take Ovef Ml the 'Phones on Jan. 1, 1915, With 50-Year
, Bonds, Says Lewis of Maryland Price for U. S.
To Pay Named at Nine Hundred Millions
People Would Have Made Monster.
Profit In Past Years.
i
Washington, D. C, Jan. 31 The
proposition of the government own
ership, advocates is for Uncle Sam to
take over the great American net
work of .'telephones on Jan. 1, 1915.
The plan is for the Interstate com
merce commission to then value the
properties, one by one, and the secre
tary of the- treasury is to pay the
valuations with money to be raised
by ,an equal amount of fifty-year
bonds at 3 per cent, 4 per cent inter
est being paid to the owners pending
the adjustments.
The bill would carry provision for
.the amortization of "Bonds and ade
quate debreckfjon rwarr'es $ut ?f tfe
receipts of the service. It would also
grant power to the postofflce.' depart
ment to formulate compensatory
rates and to purchase the farmers
lines. ...
' Future developments and exten
sions would be allowed by counties,
municipalities, ' private individuals
and the postofflce department, while
the telegraph lines would b.e left to
their own ways.
Financing so. large-an undertaking
looks at first like a tremendous tasks
Nine- hundred millions. But it repre
sents" only about $9 per capita, as
against $50 in the financing of the
Swiss railway purchase.
-ne yyu pnuipns qo nouoofc so qi-

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