They had undervalued the cost of building and maintenance.

Denver expected the cost to be two thousand, five hundred dollars and spent sixty thousand dollars.

Buffalo expected to pay three thousand dollars and had to pay one hundred and fifty thousand dollars.

Also, they made the unwelcome discovery that an exchange of two hundred costs more than twice as much as an exchange of one hundred, because of the greater amount of traffic.

Usually a dollar that is paid to a telephone company is divided as follows: Rent............