Copenhagen Telephone Co., Inc.
List of Deals
- 1967 Copenhagen Telephone Company, Inc.: $10,000,000 6 3/4% sinking fund dollar debentures due October 15, 1982
Public telephone service in Denmark was instituted by International Bell Telephone Company, which in 1881 opened a central office in Copenhagen. In 1882 the business was taken over by the Kjobenhavns Telefonselskab, which was the Copenhagen Telephone Company, and in 1894 by Copenhagen Telephone Company, Incorporated, (Kjobenhavns Telefon Aktieselskab or KTAS) under the laws of the Kingdom of Denmark. The company was owned in part by the Danish government and was the sole supplier of telephone service on the Danish islands of Zealand, where Copenhagen is located.
In 1897 the Danish Government vested itself by law with a monopoly of all telephone communication services, and in 1898 it granted the company a concession to operate within stated areas. The government owned and voted 50.65 percent of the outstanding capital stock of the company.
In 1912 the Copenhagen Main Exchange introduced a telephone set that was manufactured at Telefon Fabrik Automatic in Copenhagen. Prior to the development of this set, wall telephones were the most common, as table models cost extra.
In 1946 and 1948 the company acquired two independently operated concessionary telephone companies serving the islands of Bornholm and Lolland-Falster.
Over 99 percent of the company's operating revenues were represented by two types of charges for telephone service: service subscription revenues and toll service revenues. The installation of automatic equipment in all new central stations and the conversion of many existing stations to automatic equipment, as well as the installation of call-measuring equipment in semi-automatic stations, increased the revenue represented by toll charges considerably. As a result of the installation of automatic equipment, the number of switchboard operators and other persons employed in central offices was reduced by approximately 1,000 employees since the first fully automated central office was put into service in 1954, whereas the number of subscribers increased by approximately 226,200.