The Associated Telephone Utilities Company was a
Wisconsin-based power company that went bankrupt in 1933, during the
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...
.
[GTE Corporation. (2011)]
From Encyclopædia Britannica
Retrieved on September 13, 2001 Prior to the Depression, the utility was a prominent player in the electrical power business in the
Midwestern United States. An appeal by receivers appointed for the Associated Telephone Utilities Company was filed around April 1933, contesting the bankruptcy of the utility, and it was reorganized in 1934 as
General Telephone.
A
chancellor
Chancellor ( la, cancellarius) is a title of various official positions in the governments of many nations. The original chancellors were the of Roman courts of justice—ushers, who sat at the or lattice work screens of a basilica or law cou ...
in a
court of chancery permitted the petition to be filed in
United States District Court.
Utility history
The Associated Telephone Utilities Company was founded in Wisconsin in 1926 by Sigurd Odegard.
The company acquired the Indiana Telegraph Securities Company and its subsidiary companies in August 1929. The purchased utility operated 9,819 stations in
Logansport, Indiana, and
Greencastle, Indiana.
The Associated Telephone Utilities Company increased its budget for 1930 to $7,000,000, an increase of 40%. It invested $3,047,000 of this sum in the
Western United States, with $2,493,850 spent in
Los Angeles and the surrounding region. $553,500 was divided among
Washington,
Idaho,
Nebraska, and
Texas.
Five
Wisconsin telephone operating companies were purchased by the Associated Telephone Utilities Company in August 1930. These utilities were consolidated with the Wisconsin properties of the Associated Telephone Utilities system.
A one-month sales campaign resulted in the addition of 1,040 phones in August 1931. During this period the Midwestern utility worked in unison with the Associated Telephone Utilities System in
New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
. For the year ending December 31, 1932, the firm realized a profit of $13,305 after taxes.
[''Telephone Company Earns $13,305 In Year'', ''The Wall Street Journal'',
June 23, 1933, pg. 7.]
References
Technology companies disestablished in 1933
Defunct companies based in Wisconsin
Telecommunications companies established in 1926
1926 establishments in Wisconsin
1933 disestablishments in Wisconsin