Using a 3 conductor telco line to carry 2 signals?

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Hello everyone,

This is probably a very simple question, I just need some assurance to justify myself with.

I am installing an alarm system in an older home and came across 3-wire telephone lines. Red, Green and Yellow, NO BLACK? It is this way on all outlets and at the MPOE. My question is, can I use 2 of the wires to send the incoming to the alarm, suppose Red (Ring) and Green (Tip) and then the third, Yellow as the other ring and then the yellow again as the reverse tip?

Red (Ring) --------------------->
MPOE Alarm
Green (Tip) <------------------->

Yellow (Ring)<-------------------

Or will this configuration short out the alarm if it trips?
 
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