Associated Telephone Utilities Company (GTE Predecessor)
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Certificate Details
Product Details
Associated Telephone Utilities Company
Certificate Type
Common/Cumulative Prior Preferred Stock
Date Issued
February 17, 1931 (blue)
June 4, 1931 (green)
Canceled
No
Printer
Republic Bank Note Company
Signatures
Machine printed (blue)
Hand signed (green)
Approximate Size
12 1/8" (w) by 8 3/4" (h)
Images
Show the exact certificate you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
The Associated Telephone Utilities Company was founded in Wisconsin in 1926 by Sigurd Odegard to purchase the assets of the Associated Telephone Company and the Commonwealth Telephone Company. The company incorporated as a Delaware entity.
The company acquired the Indiana Telegraph Securities Company and its subsidiary companies in August 1929. The purchased utility operated 9,819 stations in Logansport and Greencastle, Indiana.
The Associated Telephone Utilities Company increased its budget for 1930 to $7,000,000, an increase of 40%. It invested $3,047,000 of this sum in the Western United States, with $2,493,850 spent in Los Angeles and the surrounding region. $553,500 was divided among Washington, Idaho, Nebraska, and Texas.
Five Wisconsin telephone operating companies were purchased by the Associated Telephone Utilities Company in August 1930. These utilities were consolidated with the Wisconsin properties of the Associated Telephone Utilities system.
A one-month sales campaign resulted in the addition of 1,040 phones in August 1931. During this period the Midwestern utility worked in unison with the Associated Telephone Utilities System in New York. For the year ending December 31, 1932, the firm realized a profit of $13,305 after taxes.
Prior to the Depression, the utility was a prominent player in the electrical power business in the Midwestern United States, however the company fell into bankruptcy in 1933. An appeal by receivers appointed for the company was filed around April 1933, contesting the bankruptcy of the utility, and it was reorganized in 1934 as General Telephone.