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Show MX SlATEjSSClAiai We I'se The Telephone At the end of March 1927, tcr.nl money invested in Telephone plant and equipment in Our Country was $3,370,000,000. The industry paid annual taxes of $70,037,000. j This huge investment represents about IS, 000, 000 telephones, practt-, cally all of which can he joined together to-gether for nation-wide service. I Its securities are owned by S 4 1 .-000 .-000 people, made up of 443,300 owners own-ers of common stock, 153,700 owners of preferred stock, and 245, OOj owners of bonds. Eliminating duplications dup-lications where the same-person owns more than oiie kind of security or the securities of more than one company, i it is estimated that the telephone industry is owned by over 700,000 ' ! individuals, of whom 74.5S6 are em-' ployes of the telephone companies, j America leads the world in many! activities but is telephone system is so far ahead there are no compart-! sons. J |