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<br />;) (q) <br /> <br />TUESDAY <br /> <br />APRIL 9, 1968 <br /> <br />The regular semi-monthly meeting of the Council of the City of Martinsville, <br /> <br />Virginia, with Mayor Fred T. Renick, M.D., presiding, was held Tuesday, <br /> <br />April 9, 1968, in the Council Chamber, City Hall, beginning at 7:30 P.M., <br /> <br />all membe~s being present, viz., Mayor Fred T. Renick, M.D.; Vice-Mayor E. E. <br /> <br />Stone; Ha~ry L. Boaz; W. Donald Hartford; and Francis T. West. <br /> <br />After the invocation, Council approved as recorded the minutes of its regular <br /> <br />meeting held March 26, 1968, and of its special meetings held March 29, 1968, <br />and April 1, 1968. <br /> <br />Pursuant to decision of Council at its meeting held March 26, 1968, opportunity <br /> <br />was given to interested persons to inquire--as well as express opinions--as to <br /> <br />proposed rate adjustments for local telephone service, application for which <br /> <br />has been filed by Lee Telephone Company with the State Corporation Commission. <br /> <br />Mr. M. Harrison Joyce, Attorney at Law and member of the firm, Stone, Joyce, <br /> <br />Worthy, & Monday, Attorneys at Law, appeared before Council and cited the <br /> <br />percentage increase in the charges that would be applicable to his firm for <br /> <br />"base" telephone service under the proposed tariffs, stating that--in his <br /> <br />opinion--some increase in telephone rates might be justifiable but not to the <br /> <br />extent applied for inasmuch as stockholders appear to be receiving a reason- <br /> <br />able return on their investment. Mr. C. p. Lamm, Division Manager for Lee <br /> <br />Telephone Company, cited the need for rate adjustments as applied for and, <br /> <br />also, indicated that the return to Lee Telephone Company on its investment <br /> <br />has been inadequate to retain a satisfactory financing margin to expand the <br /> <br />system to meet anticipated growth and, too, to provide satisfactory service <br /> <br />to its customers. It was indicated the representatives of Lee Telephone <br /> <br />Company would continue to appear at Council's regular meetings--to furnish <br /> <br />any information necessary on this matter--prior to the forthcoming May 16yh <br /> <br />hearings before the State Corporation Commission. <br />