3^ TEMPLE COURT. 5 Beekman Street, NEW YORK, THE mt ]i 4ii^^ratftlt i H/ 3.. Capital, - - - $1,000,000. Divided into Ten Thousand Shares of $100 each. s NEW YORK : j Douglas Taylor, Printer, 89 Nassau Street, corner Fultou. i 1882. 9 5-2.32721 TRUSTEES. D. G. LiTTLEFiELD, of Pawtuckct, R. I. A. H. Elliott, of New York. John H. Seed, of New York. Chester H. Pond, of New York. George A. Scott, of New York. Bernard C. Lauth, of Philadelphia. OBJECT. The object of this Company is to operate a business under letters patents which relate to the use of electricity in actuating devices to denote the seconds, minutes and hours of time. This subject has been a matter of experi- ment for many years; and to an extent has shown that electricity, for the general distri- bution of standard time was feasible, if it could be practically applied. Nevertheless past efforts have failed to complete a system which would give substan- tial and desired results. Failure has resulted from the intricate mechanism employed, as also from the imper- fect and unreliable means which have been adopted to form and break circuits for the division of time. Again attention has solely been devoted to the mechanism used, and no thought given to the business detail necessary to make a perfect system popular with the public, as also prac- tical in all details. TIME TELEGRAPH COMPANY. The mechanical and electrical system adopted by The Time Telegraph Company embraces portions of numerous devices, which, as a whole, embody all that is necessary to render service with reliable economy. That the electrical and mechanical devices used by this company are practical and satis- factory is proven from the fact that the sys- tem is used and accepted for two years past by one of the largest railway corporations in the United States. The business method adopted embodies a plan which makes an introduction of the time indicators popular, as also with least objection from public or private rights. The simplicity of the mechanism is such as to enable an un- skilled person to keep and regulate time with unvarying accurancy. Moreover, a youth of moderate intelligence and years, can render a time service of equal value to that of any ex- pert. The Method of Introduction will be to run an electric circuit block by block, and seldom cross streets with the wires. By placing primary regulators on every block, the crossing of streets and suspension of wires on TIME TELEGRAPH COMPANY. poles is entirely avoided, because it is intended to fasten the wires to the rear of buildings and returning to the regulator thus complete an interior circuit of the square. Attached to the wires, between regulators, are the indicators, and there being but a single regulator on any block, it follows that every indicator in circuit with any regulator must keep uniform and standard time. Business System. This Company does not propose to engage in the introduction of their indicators with subscribers. The plan will be to license sub- sidiary companies in various districts through- out the United States, and to these companies sell the indicator and accessories therewith. In consideration of the license, a specified portion of shares or cash and shares, or a license fee on the gross rentals received, will be accepted of each company, and all such companies will be restricted to a capitalization of one indicator to a stated number of the population of cities within the district licensed. Again, this Company reserves the sole right of manufacture and sale of apparatus to the various companies. TIME TELEGRAPH COMPANY. In the promotion of companies all agents will have written authority to act, subject to a form of license made part thereof, and which will embody the amount of capitalization, terms, conditions, and agreements to the specified territory to be licensed. No representative will be permitted to ac- cept any bonus or profit from any company being promoted, or from any individual there- with, or from any person or firm taking license to a district. Printed forms of contract to be used in the promotion of subsidiary companies ; also forms of statements of accounts and of dividends to be used by such companies for transmission to this Company, are supplied to parties en- gaged in the formation of such companies. Every subsidiary company upon receiving license agrees, in writing, to purchase a speci- fied amount of indicators and accessory appli- ances therewith. Every company agrees to adopt, use, and employ indicators of this Company only. Every such company will make monthly- returns of its business ; this being asked be- cause this Company has no representation in TIME TELEGRAPH COMPANY. the directory and executive management of any subsidiary company. All companies will transmit a full statement of the indicators they place in use by giving the name and address of each subscriber, the date rental begins, and the number of the in- dicator so placed. Standard rates of rental will be adhered to by every compan}^, and any violation thereof incurs a forfeiture of the entire rentals where the excess of established rates are charged. Any duly authorized agent of this Com- pany may inspect books of account of any subsidiary company, at all reasonable times, and take extracts or copies therefrom. All statements of business account will be transmitted on forms similar to the printed forms supplied by this Company. Providing any company should become in- solvent, their license at once is to be void, and all rights conveyed to revert to this Com- pany. Any failure to perform any covenant makes contract void, except such company remedy the violation within two months after written notice. lO TIME TELEGRAPH COMPANY. Subsidiary Companies. Subsidiary Companies will furnish indicators to subscribers upon rental ; one style being 25 cents and another 50 cents per month. Indicators will be furnished in two sizes of dials, viz., six and twelve inches, the smaller being suitable for residences and of- fices, whilst the larger one will be more suit- able for large rooms and stores. Either of them will be furnished without charge beyond rental. Another indicator of twenty inches diameter denotes time by seconds, minutes and hours, and is rented at one dollar monthly, it also being placed with the subscriber without other charge. This latter is suitable for factories, railway stations, jewelers, &c. Rents will be payable in advance, begin- ning the first day of the month following the month in which the indicator is put into opera- tion, and at a future time it is intended to make a discount upon rentals which are paid annually in advance. Providing many indicators should be used by one person, as in the several rooms of a TIME TELEGRAPH COMPANY. II hotel, or public institution, then the standard rate would be liberally reduced. Printed envelopes will be supplied subscrib- ers, in which they are requested to place their subscription rental when due, so that the col- lector will not be delayed when calling. These envelopes will represent each month of the year, and will have spaces thereon for the name and residence of the subscriber and the number of the indicator for which rental is enclosed. Subscribers will sign a receipt for the indi- cator left with them, and the receipt must contain the full address of the subscriber, as also the number of the indicator. Every collector of rentals will be in uni- form, as also have an authorized document or badge, which must be shown when requested by a subscriber. Subscribers changing residence must give one week's written notice to the Company, and state what disposition is to be made with the indicator. If changed to another circuit a nominal charge will be made, but if to a section in which there is no circuit, then special arrangement will follow. TIME TELEGRAPH COMPANY. No indicator must be removed except by an authorized agent of the Company. Should an individual or firtn prefer to operate the business within a district, they may pay 20 per cent, on the gross rental received by them ; for example, on 25 cents they would pay 5 cents, and on 50 cents they would pay 10 cents. This would apply to a district where about one thousand indicators were employed. Providing any company should provide and place indicators in use in smaller interior cities, then they may pay a person 25 per cent, of the gross receipts as compensation for attention to the indicators, collecting rent- als, supplying chemicals and making returns and reports of the business. Remarks. In comparison with other business systems which are associated with the use of tele- graphs, this system possesses decided advan- tages : First. — The use of wires will not be objec- tionable to any great extent, because no poles will be required, as the wires will be carried TIME TELEGRAPH COMPANY. 13 along from house to house, seldom crossing streets ; but if so, they may be stretched from roof to roof, or placed in pipes under the roadway. Second. — The placing of wires will not meet with opposition from authorities, because they are removed from sight, except at rare inter- vals, in most cases the wire being run along the rear of buildings, and thus complete the circuit of a block. Third. — Rights of way will be easily ob- tained, because some occupant of every build- ing is likely to be a subscriber. Fourth. — Wherever the regulators will be placed, privileges therefor may be secured by offering free rental of an indicator, or else giving a superior indicator at the lower rate of rental. The modus operandi will be to select some promiment business place and solicit the privi- lege of placing with the occupant a handsome case containing the regulator instrument and its indicator, and therewith offering to furnish standard time free of charge, or at a reduced rental. 14 TIME TELEGRAPH COMPANY. From hence a wire will be carried from house to house around the interior of a square, and returning to the regulator, thus complete the circuit. If the square is composed of many build- ings, with various occupations in each house, like districts having many business offices, then each square would be a circuit to itself. If the square is mostly residences, then the circuit may radiate to comprise not less than four full squares. In the districts of cities where many offices exist, it is likely that subscribers would be had amounting to hundreds per square. In canvassing for subscribers throughout the block in which the offices of this company are located, excellent results have been had by simply distributing descriptive circulars, to- gether with subscriber's forms in blank. These have brought sufficient subscribers to com- pensate for running wires around the square. Once in use, other residents will add to the numbers first obtained. To effect good results, it is imperative that persons of temperate habits and respectable character should represent every company. TIME TELEGRAPH COMPANY. 15 thereby producing agreeable relations between the public and the Company. Starting out with a reasonable charge to the patron will stimulate a kindly feeling and do much to promote the welfare and continued prosperity of any company wherever organ- ized. It is the intention to deal liberally with the public, and to place the use of the system on so low a basis that it will be within the means of all to use the indicators. It is an unwise poHcy to burden a business enterprise with unreasonable charges, for it stimulates opposition from the public, and thereby limits the introduction of the article into general use. Again, limiting the capitalization to a proper proportion of demand will insure satisfactory returns on the investment made. Finally, we start out our system under sound business principles, and having fortified the same by Letters Patent obtained through the advice of the experienced firm of Pope, Edgecomb & Butler, we confidently anticipate a prosperous and successful future. TIME TELEGRAPH COMPANY. 1 7 EXAMPLES. The following examples refer to the ex- penses and profits accruing to subsidiary com- panies, as also the share interest paid to this Company for grant of license. The expense figures are unquestionably within any probable outlay for construction and maintenance of plant. 1 8 TIME TELEGRAPH COMPANY. THE FIRST EXAMPLE is based on a plan of Subsidiary Companies licensing individuals in the smaller cities of their district to purchase indicators of them, and operate the same by paying the Subsidiary Company a license fee of 20 per cent, on the gross amount of rentals received. This plan saves to the Subsidiary Companies the invest- ment required for the various smaller cities, for illustration: a jeweler in a city of 5,000 population would apply to the Subsidiary Com- pany saying he could put into use 300 indica- tors. These 300 indicators would cost the jeweler $2,400 all disbursements included,when the indicators were paid for and in use with the various subscribers. The following result would follow : Investment, ----- $2,400 Income, at 3.90 $1,170 Expenses — Chemicals, - - $53 Contingent, - - 50 Royalty to Subsidiary Co., - 234 337 Net profits, - - - - - - $833 TIME TELEGRAPH COMPANY. 19 In this instance no rent of office is required, the jeweler using his own store for business purposes and not occupying to exceed one- fourth of his time. Another ilhistration would be that of an in- dividual or persons, in a city of 15,000 or 20,000 population, applying for a license with the intention of renting 1,000 indicators. investment, _ - . - - ;^o,ooo Earnings, - - - - Expenses — Chemicals, Contingent, - Royalty to Subsidiary Co., - $175 150 - 780 $3,900 i>io5 Net profits, - - - $2,795 In this instance one boy may collect all the rents, and the 1,000 indicators could be oper- ated from a single regulator, thus requiring but a single weekly inspection of the regula- tor. 20 TIME TELEGRAPH COMPANY. THE SECOND EXAMPLE, based on a population of 300,000, provides for the following disposition of shares: Shares for subscription at 50 per cent. $40,000 Shares issued in payment of license - 52,000 Shares remaining in treasury of Sub- sidiary Company, ----- 108,000 Total share capital, - - - $200,000 Amount realized on first subscription $20,000 1,500 indicators at $8 each, - - - 12,000 Cash balance in treasury, - - $8,000 TIME TELEGRAPH COMPANY. Earnings. 16,000 indicators at $3.90, $62,400 Expenses. Manager, ^ - - ~ - - $1,800 Secretary, 1,200 2 Inspectors, ----- 2,000 2 Bookkeepers, - - - - 1,800 10 Boys, - - - - - - 3,000 Chemicals, - - - - - - 2,800 Office, - - - - - - - 1,000 Contingent, - - - - - - 2,400 16,000 Net profits over 23 per cent., - $46,400 This example applies to the district of Pittsburgh, Pa., with a population exceeding 370,000. 22 TIME TELEGRAPH COMPAN\ 1 i THE THIRD EXAMPLE, based on a population of 600,000, pre ; the following distribution : i Shares for subscription at 50 per cent., Shares issued in payment of license, Shares remaining in treasury of Sub- sidiary Company, ------ Total Capital, - - _ . Amount realized on first subscription ! 3,500 indicators at $8 each, - - - Cash balance in treasury, - - )vides for $100,000 130,000 270,000 $500,000 1 $50,000 28,000 822,000 TIME TELEGRAPH COMPANY. 23 H-ikNINGS. 40,000 indicators at $3.90 each, - Expenses. Manager, ------ $2,500 Secretary, ------ 1,500 4 Inspectors, 4,800 Bookkeeper and 3 Ass'ts, - 3,600 25 Boys at $300, - - - - 7,500 Chemicals, ------ 7,000 Office, ------- 1,200 Contingent, 6,000 $156,000 34,100 Net profits over 24 percent., - - $121,900 This example applies to the district of Long Island, N. Y. 24 TIME TELEGRAPH COMPANY. THE FOURTH EXAMPLE, based on a population of 900,000, provides for for the following distribution of shares : Shares for subscription at 50 per cent., - - . ^140,000 Shares issued in payment of license 182,000 Shares remaining in treasury of Sub- sidiary Company, ------ 378,000 Total capital, - - - $700,000 Amount realized on first subscription $70,000 5,000 indicators at $8 each, - - - 40,000 Cash balance in treasury, - - $30,000 I TIME TELEGRAPH COMPANY. 25 Earnings. 56,000 indicators at $3.90 each, - - $218,400 Expenses. Manager, $2,500 Secretary, ------ 1,800 5 Inspectors, 6,000 I Bookkeeper and 4 Ass'ts, - 4,200 37 Boys at $300 each, - - 11,100 Chemicals, 95700 Office, ------- 1,500 Contingent, 10,000 46,800 Net profits over 24 per cent., - - $171,600 This example applies to the district of Boston, Mass. 26 TIME TELEGRAPH COMPANY. THE FIFTH EXAMPLE, based on a population of i^ooOjOoo, provides for the following distribution of shares : Shares for subscription at 50 per cent., --------- $200,000 Shares issued in payment of license - 260,000 Shares remaining in treasury of Sub- sidiary Company, 540,000 j Total capital, - . . . $1,000,000 Amount realized on first subscrip- tion, $100,000 7,000 indicators at $8 each, - - - 56,000 Cash balance in treasury, - $44,000 TIME TELEGRAPH COMPANY. 27 Earnings. 80,000 indicators at $3.90 each, - $312,000 Expenses. Manager, .--_.- $3,000 Secretary, __-_._ 1,800 8 Inspectors, ----- 9^600 I Bookkeeper and 6 Ass'ts, - 5,400 50 Boys at $300 each, - ■ 15,000 Chemicals, ------ 14,000 Office, ------- 2,000 Contingent, ------ 12,000 62,800 Net profits nearly 25 per cent., $249,200 This example applies to the district of Manhattan (N. Y. City), with a population exceeding 1,200,000. LIBRARY OF CONGRESS 002 430 703 6 m