"'Why, that is what they are going to call a telephone,' explained Mr. Holmes.
"'A telephone! What's a telephone?' inquired the president.
"With enthusiasm the New Yorker carefully sketched in the new invention and told what could be done with it.
"After he had finished he was greatly astonished to have the head of the bank reply with scorn:
"'Mr. Holmes, you take that plaything out of my bank and don't ever take such liberties again.'
"You may be sure the plaything was quickly removed and the Revere Bank went on record as having the first telephone disconnection in the country.
"Having exhibited the telephones for a couple of weeks, Mr. Holmes went to Mr. Hubbard and suggested that he would like to continue to carry on the exchange but he should like it put on a business basis.
"'Have you any money?' asked Mr. Hubbard.
"'Mighty little,' was the frank answer.
"'Well, that's more than we have got,' Mr. Hubbard responded. 'However, if you have got enough money to do the business and build the exchange, we will rent you the telephones.'