Show I VAil m Af Am Of fD FEDERAL Al P- P WN mr Public He Says in Favor of Regulated Mo- Mo By Associated Press NEW NEV YORK March The 10 net earnings of the American Telephone Telegraph company for th 1918 were according to the annual annual an- an nual report issued today Deduction of interest charges left a balance balanco of available for dIvidends which was an increase of over the previous year The surplus for 1918 was Reporting to stockholders on the subject of combination and regulation regulation regula- regula tion N. N Vail Vall president of the company says It will be extremely unfortunate if with a very public sentiment sentiment senti- senti ment in favor of it a wire system with nationwide universal comprehensive service and complete utilization of all the facilities cannot be evolved from the existing conditions There is no reason providing we have rational control and regulation or org g supervision to fear government government gov- gov ownership but without a rational ra- ra raI effective control which will regulate regulate reg- reg but not restrict control but not destroy utilities of necessity government government govern govern- ment ownership Is Inevitable There Is little doubt remaining in inthe inthe the minds of the public but that regulated regulated regu- regu m monopoly Is better than unregulated unregulated government ownership and there Is no longer any extensive conviction that there can be effective competition In the electric transmission of intelli- intelli gence |