Show I I I i I PHONE C CONCERN NGERN TO ISSUE STOCK Application Made on Permit Permit Permit Per Per- mit for SAN FRANCISCO March 18 The The Pacific Telephone and anti Telegraph company comp com corn p pany ny has applied 0 o the railroad commission commission com corn mission for an order authorizing the issuance and sale of of par parI value preferred d capital stock the money so raised to be used to reimburse reimburse burse the sinking fun fund 1 for amounts paid out put The application Is one outcome of a aI meeting of the board of directors February February Feb Feb- mary 14 when the stockholders was called to meet April 19 to consider Increasing in increasing In- In creasing the company's bonded in indebtedness indebtedness indebtedness in- in from to 6 65 and the capital stock from 50 to 1 The stock issue is contingent upon approval of the stockholders the April meeting t |