is that of the Bell Telephone. The company has increased its capital
stock in eighteen years from $110,000 to $30,000,000. In that time it
has earned $42,903,680. It pays dividends of eighteen per cent., and
could pay more, if allowed to do so by its charter. The surplus is used
to increase the capital stock, so that in addition to its enormous
dividends, every little while it presents its stockholders with new
blocks of this exceedingly profitable stock. The present price of shares
is about $280.