The Sun.
London, England, 1869-06-14 00:00:00

CII ESTER.

A large and most enthusiastic open-air ineetingwas held
at Chester on Saturday, to assert the independence of the
House of Peers, and to condemn the spoliation bill of Mr.
Gladstone. Thelarge fiehlin which the gathering took place,
estimated to contain 5,000 people, was (according to the
Standard) very nearly filled with a most respectable and
orderly assemblage. Mr. Alderman Williams presided.
Resolutions condemning Mr. Gladstone's bill, and urging
the presentation to the House of Lords of a petition.
against it, were carried, with very few dissentients, amid
loud applause. The principal speakers were Mr. J. W.
Leche, of Carden Park, Mr. Clough, Mr. Scdgwick (hon.
secretary of the National Union), and Mr. George Boydell.
A vote of thanks to the chairman was moved by Mr. W.
C. Raikes, M.P., seconded by Mr. Rogers, and carried
by acclamation, after which the great assemblage quietly
dispersed.

THE PURCHASE OF TILE TELEGRAPHS.

The Electric and International Telegraph Company
have issued a circular to their shareholders, stating the
terms on which an agreement has been made with
the Post Office for the sale of their property.
The sum to be paid is £2,938,000. For this
Payment the Government will obtain the whole
of the company's plant, which is worth £1,100,000, and
the business, which is now producing an annual revenue
of £lBO,OOO, and is rapidly increasing. The amount
claimed by the company was £:3,34U,u0u, but
the Post Office insisted upon, and obtained, a
reduction of £lOO,OOO for depreciation of plant, renewal
of cables, &c. It will be seen that the net annual revenue
is sufficient to pay upwards of six per cent. on the purchase
money. It would, perhaps, be unfair to assume that in all
cases the purchase of the rights of the various telegraph com-
panies will be equally advantageous to the Government.
In the case of the United Kingdom companies, for
instance, the Government have very properly had
to take into account the prospective in-
terests of that undertaking, to the establish-
ment of which the public is mainly indebted
for the reduction which has been made in the charges for
telegraphy. But after making full allowance for all dis-
turbing causes, the Government will obtain a business
which, as it stands, will pay upwards of five per
cent. on the purchase money. The future results
of the undertaking will be largely influenced by two
causes, the reduced rates for the transmission of telegrams,
and the reduction of working expenses which can be
effected by the amalgamation of the telegraph offices and
their connection with the Post Office. Judging from
experience, it is not probable that the reduction of rates
will lessen the revenue ; and the increased cost
of the working staff, which will in some cases be
necessary, will be more than covered by the reductions
on general expenses which will be effected by the amalga-
mation of the offices. 'We may, therefore, assume that
the public will gain the substantial advantages of lower
charges and increased facilities for telegraphing, and that
these advantages will be realised, not only without a loss,
but with an actual profit, and that this profit will be
represented by the difference of N per cent. on the
1 capital which the Government will receive and 31 per
cent. which they will have to pay.—Western, Morning
News.