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Updated: August 27, 2026
He said: "Our net earnings for the last ten months were $13,715,000, as against $11,579,000 for the same period in 1906. We have now in the banks over $18,000,000; and we will not need to borrow any money for two years." Soon afterwards, the work of consolidation began. Companies that overlapped were united. Small local wire-clusters, several thousands of them, were linked to the national lines.
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