Show nxmiioNi2 COIl ANYS A1ii11AL Decrease in Gross Receipts Tint increase In-crease In iet Earnings Notwithstanding the fact that the gross receipts of the Rocky Mountain Bell Telephone company for the year I just closed showed a decrease of In the neighborhood of 10000 the net earnings showed a gain the peculiar difference being due to the great reduction re-duction made in the operating expenses ex-penses of the company This was the showing made at the annual meeting of the stockholders of the company I held yesterday afternoon According to the reports of the executive officers the decrease in the regular service amounted to about 19000 while the operating expenses were cut some 312 000 It was the tolls on special service ser-vice which saved the ship and there the value of the extensions made during dur-ing the year came in This branch of the companys business showed an Increase In-crease of something like 10000 These comparisons are made of course with the reports of the business of the year previous The reports gave entire satisfaction to the stockholders in attendance at-tendance at the meeting and the executive execu-tive officers received the congratulations congratula-tions of the other members of the company for their very conservative management At the election of directors for the ensuing year 3500 shares out of the 4100 took part and the following gentlemen were selected to serve the company George Y Wallace George F Dow ey H C Hill George M Scott C W Lyman Alonzo Buft J M Stoutt < C F Lloyd and Thomas Sherwin In the organization of the board the following executive officers were elected President George Y Wallace vicepresident George F Downey secretary H C Hill i treasurer treas-urer C W Lyman general superintendent superin-tendent D S < Murray Previous to the regular meeting of the stockholders the board of directors di-rectors held a special session and con idered matters relating to the future work of the company including a number num-ber of extensions to outside point which have been contemplated for sometime past Nothing formal was decided upon but within the next few weeks the board will again have the matters on for consideration and It 1 s highly probable that some important work of improvement will be decided upon |