American Pneumatic Service Company
In 1899 the stockholders of the Lamson Consolidated Store Service Company purchased several other pneumatic tube companies and organised a new company, the American Pneumatic Service Company (APSC). It also took over the Boston Pneumatic Transit Company; W E L Dillaway, its President, became APSC's President. Regarding the new company's formation, the Lamson company stated: Up to the present time the pneumatic service of the company has been confined to small tubes. The use of the tube in streets for the carrying of mail, messages and parcels has not been included in our business, and this latter use presents an opportunity for the making of large profits.
John Liffen. Mail tubes: the modern communications system of the nineteenth century. Artefacts 4 (2004) , pp. 70-83
The statement accompanying the application to list its securities on the New York Stock Exchange contains some interesting facts. It owned the following properties:
- Lamson Consolidated Store Service Co. 64,978 shares out of a total of 65,677 shares
- Air Line Carrier Co. Total capital stock of $50,000
- National Pneumatic Service Co. Total capital stock of $750,000
- Lake Street Manufacturing Co. Total capital stock of $10,000. Miles Pneumatic Tube Co. All but $30,000 of the capital stock of $100,000.
- Massachusetts Pneumatic Tube Co. Owns $493350 out of total capital of $500,000.
- Owns entire capital stock of the Boston Pneumatic Transit Co. The latter company holds franchise from the City of Boston to lay and maintain pneumatic tubes in public streets. Also $299,783 promissory notes
- Chicago Postal Pneumatic Tube Co. Entire capital stock of $100,000. Also $767,450 promissory notes ef same company, being its entire indebtedness.
- St Louis Pneumatic Tube Co. Entire capital stock of $50,000. Also $300,000 promissory notes, being entire indebtedness.
- International Pneumatic Service Co. Total capital of ei nnn iinn
- New York Mail & Newspaper Transportation Co. y jf 7364 shares out of total of 10,000 shares of par value $100. Also $200,000 6 bonds.
- Tubular Dispatch Co. 11,027 shares out of total capital of $2,100,000, par value $100. Also $547,000 out of issue of $600,000 5 bonds.
- Batcheller Pneumatic Co. of District of Columbia $520,000 of capital of $1,000,000.
- The company also owns all the stock outstanding of the Bostedo Package & Cash Carrier Co., Barr Cash & Package Carrier Co., and Martin Cash Carrier Co.
- It also owns fifteen companies that are not engaged in active business.
Wall Street Journal, 13 Apr. 1906, p.6
"The Lamson Company became connected with the American Pneumatic Service Company" and Oakes Ames who was President of Lamson became Vice-President of the latter until his death in 1914.
Biographical History of Massachusetts. See also publications