American School of Correspondence, Cyclopedia of Telephony and Telegraphy…
“ The matter of insurance, both with respect to the risk as to property loss and the risk as to breakdown of the service, also points distinctly in the direction of a plurality of offices rather than one. Both from the standpoint of risk against fire and other hazards, which might damage the physical property, and of risk against interruption to service due to a breakdown of the switchboard itself, or a failure of its sources of current, or an accident to the cable approaches, the single office practice is like putting all one's eggs in one basket. ”
