Show AMERICAN PHONE PROFITS INCREASE NEW EW YO UK March 10 The Tho The annual report of ot President Vail of the time American Ameri Amen can cnn Telephone and Tc Telegraph company presented today shows profits of 23 3 against last year Mr Ir Vail speaks of time the vast ast ramifications of tho the present system saying sarine- that it is national in character with millions million of subscribers connected by millions of mills miles of 1 circuits with lo local nl exchange c c systems all bound into one on lar large comprehensive com corn C embracing 1000 Jil miles amiles s of wire vire The Thc report speaks favorably fa ta of public control saying sain It Jt It is not nol believed that there is any serious objection to such mich control pr provided pro pro- vided it is intelligent considerate thorough thor thor- on ough h and amid just reeo recognizing as does docs the time interstate commerce commission ion in iii its recent report t that hat capital tal is entitled to its fair returns and amid good management manage ment or enterprise to its reward |