company within the State of South Carolina is handled solely through the exchange of other companies, and under the rules, regulations and rates established by such companies, which are, therefore, deemed to be transacting all such business.

SOUTHERN BELL TELEPHONE AND TELEGRAPH COMPANY.

Report of earnings and expenses in South Carolina for fiscal year ending June 30th, 1913.

Location of principal offices-78 South Pryor St., Atlanta, Ga. Names of officers

President-W. F. Gentry, Atlanta, Ga.

Vice-President-J. M. B. Hoxsey, Atlanta, Ga.

Vice-President and General Manager-J. Epps Brown, Atlanta, Ga.

General Counsel-H. E. W. Palmer, Atlanta, Ga.

General Commercial Superintendent J. R. A. Hobson, Atlanta, Ga.

Secretary and Treasurer-A. Maupin, Atlanta, Ga.

Division Commercial Superintendent-Morgan B. Speir, Char

Maintenance of Lines, Poles, Equipment, etc....

145,139.35

Total Number of Stations, Inc. Ext. Stas. and Toll

10,315 7,163

784

20,422

Stations ... Common Battery System-Magneto System. Rate schedule filed separately.

The above is a correct statement from books of the Southern Bell Telephone and Telegraph Company certified to this 31st day of October, 1913, excepting that a correct depreciation charge has been substituted for actual reconstruction expenditures.

Annual Report of the Southern Express Company.

Annual report of the Southern Express Company for the fiscal year ending June 30, 1913.

HISTORY.

This company was organized July 5th, 1861, under the Court of Richmond County, State of Georgia, for a term of 14 years. On May 14, 1875, the Court renewed and extended the charter for a term of 14 years from July 1, 1875. On December 12th, 1886, the Southern Express Company was reincorporated by an Act of the Legislature of the State of Georgia for a term of 30 years from December 21, 1886, and has remained one and the same company since that date without consolidation with other companies or company, and has not been reorganized. On December 23, 1910, the Secretary of the State of Georgia extended the charter for a term of 30 years from December 23, 1910.

This company is a corporation.

No active or inactive corporation controlled by respondent. The mileage over which this company operates is as follows: Total steam road mileage

Total electric lines

Total steamboat lines

Total mileage of all lines operated

.35,241.60

122.00

743.00

.36,106.60

Of which 3,297.70 are within the State of South Carolina extending over steam railroads only.

CAPITAL STOCK.

Number of shares of interest authorized, 60,000, of which 50,000 are outstanding; total par value authorized, $60,000; total par value outstanding $50,000; dividends declared during year, rate per share, $8.00; amount, $400,000.00.

EXPLANATORY REMARKS.

The Southern Express Company has never issued any corporate stock for real property, equipment, or acquisition of securities, or for any other purpose in the sense in which the issuance of stock is understood in connection with corporations.

The Company has 50,000 shares of interest, which entitle the holder to a share in the entire property and profits of the Company, but which have no par value, either on the face of the certificate or on the books of the Company. All of these 50,000 shares are issued and outstanding.

The charter of the Southern Express Company authorized the issue of 60,000 shares of interest, but only 50,000 shares have been issued.

NOTE.-Financial and Statistical Report for year ending June 30, 1913, on file in the office of the Railroad Commission of South Carolina.