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62-668: Founded in 1882 the Bell Telephone Company built a manually operated exchange with a capacity of 800 numbers and 26 households signed up. In two years the roll had increased to 3,000. In 1891 the Swedish-Danish-Russian Joint Stock Company signed a contract to provide service to Moscow for 18 years. In 1994 the Moscow City Telephone Network was structured into a joint stock company. A majority stake

124-639: A single share of the American Bell Telephone Company, and still later into two shares of the American Telephone and Telegraph Company. AT&T President Frederick Fish later returned Bell's single American Bell Telephone Company share to him as a memento after it had been converted and canceled. Of the Bell Company's original shareholders, Thomas Watson resigned his position in 1881 with his shares making him

186-405: A will trust for the testator 's children and family, a pension trust (to confer benefits on employees and their families) and a charitable trust. In all cases, the trustee may be a person or company , whether or not they are a prospective beneficiary. Trustees have certain duties (some of which are fiduciary ). These include the duty to: The modern interpretation of fiduciary duty requires

248-399: A Colorado gold mine. He also remained a confidant of Bell, who later helped ensure the welfare of Sanders' deaf son in his adulthood. Hubbard was satisfied to leave the head of the Bell Company to another major investor, William Forbes, who was brought into the company as its president and as a member of its board of directors in late 1878. Under Forbes' leadership, a new executive committee

310-472: A bevy of courtiers, entered the room. Dom Pedro recognized Bell and exclaimed "Professor Bell, I am delighted to see you again!" The judges at once forgot their tiredness and wondered who this young inventor was who was a friend of an emperor. Dom Pedro had once visited Bell's class of deaf-mutes at Boston University and initiated the first Brazilian school for deaf-mutes in Rio de Janeiro.".... ....The judges stayed

372-725: A board of trustees, though in those cases they act as a board of directors . In the case of UK charities , a trustee is a volunteer who undertakes fiduciary responsibilities on behalf of the charity, subject to the provisions of Charity Law, a branch of trust law, and the Charities Act 1993 . For charity trustees, the Charity Commission of England and Wales, Office of the Scottish Charity Regulator of Scotland and Voluntary Activity Unit of Northern Ireland often has concurrent jurisdiction with

434-427: A continent-wide telephone system. On December 30, 1899, the assets of American Bell were transferred into its subsidiary American Telephone and Telegraph Company (formerly only the long lines company); this was because Massachusetts corporate laws were very restrictive, and limited capitalization to $ 10 million, forestalling American Bell's further growth. With this assets transfer on December 30, 1899, AT&T became

496-586: A few weeks previously in Boston and spoke to him as an old friend." "Dom Pedro had met Alec at a school for the deaf in Boston. When the emperor greeted Alec, the judges took note. They wanted to see what the emperor's friend had invented." "The centerpiece of the emperor's trip was the Centennial Exposition in Philadelphia. There, Dom Pedro II sought out a young, relatively obscure teacher at

558-578: A mayor, who is elected to manage village business in a similar function. In some states, a civil township may be administered by a trustee or a group of trustees; see Indiana Township Trustee for an example. In the United States, when a consumer or business files for bankruptcy all property belonging to the filer becomes property of a newly created entity, the " bankruptcy estate ". (See 11 U.S.C. § 541.) For all bankruptcies (consumer or business) filed under Chapter 7 , 12 or 13 of Title 11 of

620-402: A message. The Bell Telephone Memorial's grandeur has been described as the finest example of Allward's early work, propelling the sculptor to fame. The memorial itself has been used as a central fixture for many civic events and remains an important part of Brantford's history, helping the city of Brantford to style itself as 'The Telephone City'. The Bell Memorial Association also purchased

682-564: A millionaire, thereafter living a colorful life as a Shakespearean actor and later as a shipyard owner and ship builder—always retaining his friendship with Bell. Thomas Sanders, whose entire personal fortune was virtually depleted during the Bell Telephone's first formative years (until a historic settlement was reached with Bell's fierce competitor Western Union on November 10, 1879), quickly sold his Bell shares for almost $ 1,000,000 but then lost most of his wealth with an investment in

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744-451: A trustee is the holder of property on behalf of a beneficiary , the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government. A trust can be set up either to benefit particular persons or for any charitable purposes (but not generally for non-charitable purposes): typical examples are

806-444: A trustee). This is an exception explicitly granted in the 1993 act The broadest sense of the term trustee applies to someone held to a fiduciary duty similar in some respects to that of a trustee proper. For example, the directors of a bank may be trustees for the depositors , directors of a corporation are trustees for the stockholders and a guardian is trustee of his ward's property. Many corporations call their governing board

868-439: Is held by Mobile TeleSystems . In November 2013 it was reported that the company chose four suppliers of main and distribution of fiber optic cables for the development of optical fiber cables network until 2016 volume of purchases made more than 1 billion rubles. Earlier that month the company announced rebranding and new positioning of the company as a multi-service operator, to create a single digital platform of Moscow. In 2014

930-452: Is incorporated as a CIO . The advantages and disadvantages of the different methods is a complicated matter. According to King and Philips, many of the advantages of incorporating as a CIO are obtained if the trustees are not individuals but a corporate entity. Depending on the state, a trustee is a member of the village board of trustees , which is a village's elected legislative body as outlined by local or state law. It can be composed of

992-571: The American Bell Telephone Company , also of Boston, Massachusetts. The American Bell Telephone Company evolved into the American Telephone and Telegraph Company (AT&T), one of the largest telecommunications companies in the world. The Bell Patent Association (February 27, 1875 – July 9, 1877, a name later assigned by historians), was not a corporate entity but a trusteeship and a partnership . It

1054-669: The Bell System . By December 31, 1900, it had 569,901 shares of stock outstanding, which rose to 18,662,275 shares at the close of 1935. Alexander Graham Bell's fiancée Mabel Hubbard was the indirect source of the Bell Telephone Company's early commercial success after his creation of the telephone. The U.S. Centennial Exposition in Philadelphia in 1876 brought Bell's newly invented telephone international attention. Exhibition judges Emperor Dom Pedro II of

1116-555: The Empire of Brazil and the eminent British physicist William Thomson (Lord Kelvin) recommended his device to the Committee of Electrical Awards, which voted Bell the gold medal for Electrical Equipment, helping to propel him to international fame. Bell also won a second gold medal for his additional display at the exposition, Visible Speech —developed earlier by his equally famous father Alexander Melville Bell . Pivotally, late in

1178-740: The International Bell Telephone Company (IBTC) as a holding company for its international subsidiaries. IBTC's first non-North American subsidiary was the Bell Telephone Manufacturing Company (BTM), established by Hubbard at Antwerp , Belgium, in 1882. The Bell System's Bell Telephone Company of Canada subsidiary, wholly owned by the National Bell, had been established two years earlier. Alexander Graham Bell's ten shares of Bell Telephone Company stock were later converted into

1240-466: The Moscow Government plans to revoke MGTS monopoly on public telephones, which the company had since 1994, and to select a new operator that will add completely new device features, such as parking fees payment option. In May 2021 MTS President Vyacheslav Nikolaev announced MGTS slit-off, as well as other telecom, IT, and cloud-focused companies to MTS Web Services legal entity by the end of

1302-740: The New England Telephone and Telegraph Company (incorporated on February 12, 1878) to form the National Bell Telephone Company (incorporated on March 13, 1879, with 7,280 shares, later increased to 8,500 shares in May 1880). A little over a year later it was reorganized to become the American Bell Telephone Company (incorporated on April 17, 1880, with 73,500 shares, which included 14,000 trustee shares held by National Bell Telephone). American Bell's outstanding stock rose to 258,863 shares by May 1900. Two days after

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1364-527: The debtor continues to manage the property of the bankruptcy estate, as " debtor in possession ", subject to replacement for cause with a trustee. Chapter 7 trustees in bankruptcy are chosen by the United States Trustee from a panel, and are known as panel trustees. Every judicial district has a permanent Chapter 13 trustee, known as a "standing trustee". As cases under Chapter 12 (for family farmers or fishermen) are filed fairly infrequently,

1426-404: The mayor and a set number of trustees and usually manages village property, finances, safety, health, comfort, and general welfare and leadership of the town (acting as a board of police or fire commissioners or a moderate income housing board, for example). Village board of trustees is comparable to but distinguished from city council or town council . Small villages have a trustee instead of

1488-550: The Belgian government offered him the greatest financial incentives to establish his European subsidiary's headquarters in their country. The International Bell Telephone Company (IBTC) shortly evolved into a holding company for its various telephone service and production divisions, with its major manufacturing arm being the Bell Telephone Manufacturing Company (BTMC), which was founded in Antwerp , Belgium, on 26 April 1882. BTMC

1550-557: The Bell Telephone Company. At the time of the organization of the Bell Telephone Company as an association (also known as the Bell Company), on July 9, 1877, as a joint stock company in 1877 by Hubbard, who soon became its trustee and de facto president, 5,000 shares in total were issued to: The Bell Telephone Company was incorporated in Massachusetts on July 30, 1878, with 4,500 shares of stock. It then merged with

1612-610: The Bell family's former farmhouse, Melville House, and its orchard at Tutela Heights, opening it as a museum to the family and to the invention of the telephone. In 1996, it was declared a historic landmark, and is now known as the Bell Homestead National Historic Site. Footnotes Citations Bibliography Trusteeship Sections Contest Property disposition Common types Other types Governing doctrines Trustee (or

1674-687: The European division and its subsidiaries were sold to the International Telephone & Telegraph Company (IT&T, unaffiliated with AT&T) of Cuba , at the start of that company's meteoric rise in the international telecommunications industry . By 1881, American Bell had acquired a controlling interest in the Western Electric Company from Western Union . Only three years earlier, Western Union had turned down Gardiner Hubbard's offer to sell it all rights to

1736-487: The Gordon McKay Company based on the numbers of shoes produced. Hubbard insisted that leasing was the better option, even if it significantly raised the need for initial capital expenses. Sanders for his part, a wealthy leather merchant, provided most of the financing for both Bell's research and the young company, eventually amounting to expenditures of some $ 110,000 "before he received any reimbursement" by

1798-532: The School of the Deaf named Alexander Graham Bell, with whom he had exchanged letters." Startled by the emperor's enthusiastic response to Bell's telephone demonstration—during which the emperor exclaimed "My God! It talks!", the crowd of judges and press members became energized and vied to take turns communicating with Bell over his invention. Bell, who was then a full-time teacher, had not planned to exhibit at

1860-719: The United States Code (the Bankruptcy Code), a trustee (the " trustee in bankruptcy " or TIB) is appointed by the United States Trustee , an officer of the Department of Justice that is charged with ensuring the integrity of the bankruptcy system and with representatives in each court, to manage the property of the bankruptcy estate, including bringing actions to avoid pre-bankruptcy transfers of property. In bankruptcies filed under Chapter 11 ,

1922-505: The United States that domestic telephone system rates were higher than they needed to be, and that AT&T was using those revenues to subsidize its European operations. Due to that reason and others, and also due to the U.S. Government's regulatory intervention, AT&T president Walter Gifford divested almost all of its international interests in 1925, with the exceptions of the Bell Telephone Company of Canada (now called Bell Canada ), and Northern Electric (now called Nortel ). In 1925,

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1984-432: The basis of holding "potentially valuable patents ", principally Bell's master telephone patent #174465. Upon inception, Hubbard was installed as trustee, although he was additionally the company's de facto president, since he also controlled his daughter's shares by power of attorney . Thomas Sanders, its principal financial backer, was treasurer. Hubbard also organize the New England Telephone and Telegraph Company ,

2046-403: The company's formation, on July 11, 1877, Bell married Hubbard's daughter Mabel Gardiner Hubbard , and made a wedding gift of 1,487 shares of his allotment to his new wife, keeping only 10 shares for himself. Bell and his wife left not long after for a tour of Europe that lasted over a year, during which time Mabel left her shares with her father under a power of attorney , allowing him to become

2108-564: The consideration of environmental, social, and governance (ESG) factors as these are long-term investment value drivers. When evaluating whether or not an institutional investor has delivered on its fiduciary duties, both the outcomes achieved and the process followed are of critical importance. The terms of the instrument that creates the trust may narrow or expand these duties—but in most instances, they cannot be eliminated completely. Corporate trustees, typically trust departments at large banks, often have very narrow duties, limited to those

2170-550: The courts. Many UK charities are also limited liability companies registered with Companies House , in this case the trustees are also directors of the company and their liability is limited. This is the preferred model if the charity owns property or employs people. The law on this in England changed considerably with the Charities Act of 2006. An account of the main changes can be found in "Charities Act 2006: A guide to

2232-423: The deaf in the United States. "....it was around seven o'clock when the 50-person delegation of judges, scientists, reporters and other officials arrived at the Department of Education. Tired and hungry, they hardly looked at the telephone, made some jokes at Bell's expense, and wanted to leave the exhibition quickly when suddenly, Dom Pedro II, Emperor of Brazil from 1840 to 1889, with his wife Empress Theresa and

2294-505: The evening moments after the main group of tired judges and newspaper reporters had quickly looked over and derided Bell's telephone display, Emperor Dom Pedro, who was straggling, entered the fair's Education Building where Bell's two displays were located. As the main group started moving on to the next exhibit to be reviewed, Dom Pedro came upon the displays and called out to Bell in his booming voice: "What are you doing here?" The emperor had met Bell before in Boston while visiting schools for

2356-447: The fair because of his heavy teaching schedule and preparation for his student's examinations. He went to Philadelphia only at the stern insistence of Mabel Hubbard, his then-fiancée and future wife and who was an expert multilingual lip reader , deaf since age five. Mabel had understood Bell's reluctance to go to the exhibition and display his works, so she secretly bought his train ticket to Philadelphia, packed his bag, and then took

2418-702: The first local operating company to offer service using Bell's telephone. Bell Telephone and New England Telephone merged on February 17, 1879, to form two new entities, the National Bell Telephone Company of Boston, and the International Bell Telephone Company . International Bell became headquartered in Brussels , Belgium. Theodore Vail took over its operations, becoming a central figure in its rapid growth and commercial success. The National Bell Telephone Company merged with American Speaking Telephone Company on March 20, 1880, to form

2480-403: The holding of a trusteeship ) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility for the benefit of another. A trustee can also be a person who is allowed to do certain tasks but not able to gain income. Although in the strictest sense of the term

2542-414: The main section where the allegorical figures of Inspiration appears over a reclining male figure representing Man, the inventor , and also pointing to the floating figures of Knowledge , Joy , and Sorrow , positioned at the other end of the tableau. At each end of the memorial there are two female figures mounted on granite pedestals representing Humanity , one sending and the other receiving

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2604-622: The management of American Bell had created what would become AT&T Long Lines . The project was the first of its kind to create a nationwide long-distance network with a commercially viable cost-structure. The project was incorporated in New York State as a separate company named American Telephone and Telegraph Company on March 3, 1885. Starting from New York City, its long-distance telephone network reached Chicago, Illinois, in 1892, with its multitudes of local exchanges continuing to stretch further and further yearly, eventually creating

2666-610: The new company's de facto president. Both Hubbard's and Sanders' roles in the newly born company were pivotal to its early survival and its eventual growth to become a corporate giant. Hubbard's very early structuring of its telephone service by leasing, instead of selling telephones, was critical to its success. He based his decision on the previous legal work he performed for the Gordon McKay Shoe Machinery Company, where its shoe sewing machines were leased, not sold, and royalties also had to be paid to

2728-505: The new law" by Michael King and Ann Phillips . One of the key changes made was that it introduced the Charitable Incorporated Organisation which is basically a limited liability charity. There are thus now two main aspects of corporate management of charities. One is the traditional way in which a corporation is a corporate trustee of a given charity. The second is the new way, in which the charity itself

2790-475: The next three hours with Bell. Bell's telephone became the star of the centennial...." "On a hot Sunday afternoon, June 25th, Sir William Thompson (later Lord Kelvin) and many other distinguished guests inspected the exhibits. Few paid much attention to Bell, tinkering with his crude instruments. At last the party approached his booth. Among them was Dom Pedro de Alcantara, the Emperor of Brazil. He had met Bell

2852-453: The operator will complete the construction of a dagital technology platform based on fiber networks to buildings (FTTx) and will provide all users access to a package of services, including broadband Internet access (broadband), digital TV, and telephony. By late 2013 The company has built about 25 thousand kilometers connecting 650,000 households in Moscow. In January 2014 it was reported that

2914-643: The parent of both American Bell and the Bell System . John Elbridge Hudson joined Bell Telephone as counsel in 1880 and served as president from 1889 to 1900. In 1906 the citizens of the City of Brantford , Ontario, Canada and its surrounding area formed the Bell Memorial Association to commemorate the invention of the telephone by Alexander Graham Bell in July 1874 at his parents' home, Melville House, near Brantford. Walter Allward 's design

2976-414: The patent association was later assigned by its principals to Bell's technical assistant Thomas Watson, in lieu of salary and for his earlier financial support to Bell while they worked together creating their first functional telephones. The verbal patent association agreement was formalized in a memorandum of agreement on February 27, 1875. The patent association's assets became the foundational assets of

3038-438: The sale of his shares. Not long after the National Bell Telephone Company was established, it required substantial new capital in order to maintain its majority share ownership of its affiliate telephone companies and to provide further funds for expansion of its overall telephone infrastructure. On April 17, 1880, National Bell was split into the American Bell Telephone Company, led by Theodore Vail as general manager, and with

3100-465: The telephone for US$ 100,000 (approximately $ 3.16 million in current dollars ). In only a few years, Western Union's president would acknowledge that it was a serious business error, one that later nearly led to his company being swallowed up by the newly emerging telecommunications giant into which Bell Telephone would shortly evolve. Western Union was saved from demise only by the U.S. Government's anti-monopoly interventions . A year earlier in 1880

3162-477: The terms of a lease) in excess of the trust property they hold, then they may find themselves personally liable for the excess. Trustees are generally held to a "prudent person" standard in regard to meeting their fiduciary responsibilities, though investment, legal, and other professionals can, in some jurisdictions, be held to a higher standard commensurate with their higher expertise. -Trustees can be paid for their time and trouble in performing their duties only if

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3224-424: The trust indenture explicitly defines. A trustee carries the fiduciary responsibility and liability to use the trust assets according to the provisions of the trust instrument (and often regardless of their own or the beneficiaries' wishes). The trustee may find himself liable to claimants , prospective beneficiaries, or third parties. If a trustee incurs a liability (for example, in litigation , for taxes, or under

3286-422: The trust specifically provides for payment. It is common for lawyers to draft will trusts so as to permit such payment, and to take office accordingly: this may be an unnecessary expense for small estates. In an exception to the duties outlined above, sabbatical officers of students' unions who are also trustees of these organisations they work for do have the right to a salary (and hence profit from their being

3348-404: The unknowing Bell to Boston's train station, where she told her shocked fiancé that he was going on a trip. When Bell started arguing, Mabel turned her sight away from him and became literally deaf to his protests. In 1879 Gardiner Hubbard founded the International Bell Telephone Company in order to promote sales of its telephone equipment throughout Europe. During his tour of the continent,

3410-491: The year 2021. In August 2021 Albert Gilmanov, MGTS ex-COO and member of the board of directors, was appointed MGTS CEO with a three-year contract in place of Vladislav Medvedev, who previously headed MGTS from November 2019 and will continue his MGTS challenge as CTO. CEO - Gilmanov Albert Timurovich (for 2024). This Russian corporation or company article is a stub . You can help Misplaced Pages by expanding it . Bell Telephone Company The Bell Telephone Company

3472-731: Was created as a joint venture by the International Bell Telephone Company of New York and the Western Electric Company of Chicago, Illinois. BTMC then established la Compagnie Belge du Téléphone Bell ( Bell Telephone Company of Belgium ) in the same year as its Belgian operating subsidiary for telephone service, one of several companies that provided such service in the country, the others having evolved principally from telegraph carriers. BTMC eventually came under complete ownership by Western Electric, and also established other divisions as national companies across Continental Europe and Russia. Western Electric

3534-487: Was created at its corporate level to reorganize and run the overall company with professional management. The company was also recapitalized, with Vail continuing as its head of operations. After leaving the offices of what became the American Bell Telephone Company, Hubbard created the National Geographic Society as its president, with Bell succeeding him the next year. Ownership of American Bell

3596-563: Was established verbally in 1874 to be the holders of the patents produced by Alexander Graham Bell and his assistant Thomas Watson . Approximately one-third of these interests were at first held by Gardiner Greene Hubbard , a lawyer and Bell's future father-in-law; Thomas Sanders, the well-to-do leather merchant father of one of Bell's deaf students (and who was the first to enter into an agreement with Bell); and finally by Alexander Graham Bell. Hubbard later registered some of his shares with two other family members. An approximate 10% interest of

3658-463: Was itself later majority owned by the American Bell Telephone Company , returning indirect control of BTMC back to the Bell organization. At the close of 1899, the American Bell Telephone Company was acquired, for business purposes, by its own subsidiary, the American Telephone & Telegraph Company (AT&T), which then became the head of the monolithic and monopolistic Bell System . Significant criticism of AT&T (a monopoly) had emerged in

3720-463: Was the initial corporate entity from which the Bell System originated to build a continental conglomerate and monopoly in telecommunication services in the United States and Canada. The company was organized in Boston , Massachusetts , on July 9, 1877, by Alexander Graham Bell 's father-in-law Gardiner Greene Hubbard . A common law joint-stock company , the Bell Telephone Company was started on

3782-439: Was the unanimous choice from among 10 submitted models, winning the competition. The memorial was planned to be completed by 1912 but Allward did not finish it until five years later. The Governor General of Canada , Victor Cavendish, 9th Duke of Devonshire , ceremoniously unveiled the memorial on 24 October 1917. Allward designed the monument to symbolize the telephone's ability to overcome distances. A series of steps lead to

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3844-407: Was transferred to its own subsidiary, American Telephone & Telegraph Company (AT&T Company) on the second to last day of 1899. AT&T had been incorporated on April 17, 1880, as American Bell's " long lines " division to handle its long-distance telecommunications. On January 1, 1900, AT&T, a publicly traded corporation, owned the major assets of American Bell and thus became the head of

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