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Newspaper Page Text
CREDIT TO THE HERALD
By N. D. Cocnran
I haven't been mealy-mouthed
about panning the loop press when I
thought ft was coming to any of
them, so I will try tS"befair when one
of them attempts to be on the square
with its readers. The Herald,
through Oscar Hewitt, is now telling
its readers some important truths
about that phone deal that for about
two years have reached the public
only through The Day Book
Month after month the loop press
went along taking the phone com
pany ads and money and "forgetting"
to tell its readers what it was all
about. Finally, however, the labor
unions, the women's organizations
and others who have been fighting for
the public interest forced publicity on
the matter. And now Oscar Hewitt
is telling Herald readers something
all of the papers should have told
their readers long ago.
By the way, I beheve that if Jim
Keeley would give Oscar Hewitt his
head and let him sail in on matters of
vital public interest the public would
buy the Herald to read what Hewitt
has to tell them. Say, Jim, let Oscar
go to it
In Tuesday's Herald Hewitt quoted
Pres. Sunny of the Chicago Tele
phone Co. as saying that he "DOES
NOT KNOW WHETHER THE PRO
PERTY OF THE AUTOMATIC, FOR
WHICH THE BELL INTERESTS
HAVE AGREED TO PAY $6,300,000,
IS WORTH $1,000,000, $1,600,000 or
He also says Sunny presumes that
the American company (the Bell)
would turn over the property to the
Chicago company "at a price, and
whatever that price was the Chicago
Telephone Co. would put it on1 its
books and would expect to capitalize
it, of course, the same as any other
expenditure for property."
Hewitt also quotes Sunny as say
ing that he does nto know how this
property could be used and it would
take him six months to find out; alsor
that the Chicago Telephone Co.
would expect to collect a telephone
rate that would pay reasonable divi-"
dends on its capitalization."
The Day Book has repeatedly, dur
ing the past two years, called atten
tion to the fact that the American'
Telephone & Telegraph Co., which
owns 97 per cent of the stock of the A
Chicago Telephone Co., is the com-w
pany that is trying to buy out that
Automatic; that when the Bell com-'
pany buys it for $6,300,000 there is
nothing to prevent the Bell company"
from selling it to the Chicago Tele-'
phone Co. (which the Bell company""
owns and controls) for $10,000,000,
$20,000,000 or $30,000,000and adding
that price to its capitalization antiT
then charging a rate to Bell sub
scribers that will enable the Bell to
collect interest on that price, what
ever it happens to be. 7
The Day Book has also called at
tention to the fact that the Automatic
controls certain patents, or the right?
to buy certain patents, which would
pass to the ownership of the Bell'
phone trust if it is permitted to take'
over the Automatic; also that it is'
the purpose of the trust to junk the;
Automatic, destroy all possible com1'
petition and set up an absolute phone
monopoly in Chicago. '
Yet all this time until Hewitt took-
the matter up in the Herald the'
trust press has-said nothing, sawed"
wood and raked in ppne trust money"
over the counter for phone advertis-'
And I believe now that if it hadn't
been for the little Day Book, with itiT
persistent publicity for nearly if notT
quite two years, council would havi'g
consented to the sale of the Auto
matic long ago and a big deal would'1
have been put over ttiat would have
cost Chicago telephone subscribers
millions of dollars.
Write YOUR daily newspaper and
ask why it has refrained from telling'
YOU the truth through all these
wearympnths when jmblicUUffig