New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-06-26
TIE AMERICAN TELEGRAPH MO-
FOPOLY. ~

The contest at present existirg between that great
MONOPOLY, the American Telegraph Company, aud the
Press is likely to be soon seued one gay orthe other
inasmuch as called meeting Of the stockholders will
be held IN this city on Thursday, the 18th inst, for the
express purpose Of considering this question. Messrs
Peter Cooper, Whom G. Hunt, Prof More, Cyrds
w. Field A. s Hewitt, Brown Brothers Sc Co., David
Hoadley together wths large number Of other geotlc
men Of the highest resreosb,y aud all Large stock
holders have sta ed in the circular calling tho meeting
that they "are alarmed at to prent aspect oil the
pending controversy between the Directors and the
Pres and We fully agree with them that the stock
holders have abundant reason for alarm. for il Is en-
trely owing to the forbeaance OF the Press that their
valuable property d not already rendered nearly or
quite valaeless.
Should tie Company sec fit to rescind the rcccnt ex-
tor,iouary measures which bear 50 heavily and 30 I'M
Justly upop the Eastern Press aud consent TO yield Ia
come other respects to the exsencies Of the case all
msy DO WELL But If unwise councils, which have
hitherto BEEN allowed rule in the Directory, are to
BE- con,nu,d- if the urju and -xtortionay measures
against the Press which were recently adopted by the
Executive Committee to be approved BY the stock
holders ut their approaching meeting, then there will
be bur che alternative ef to the Press That aterua
tive viii Be the building Of telegraph nes on all
routes covered BY the American Telegraph Company.
This contingency has already been fully considered
and provided for by the presses Of Bosoa,
&c. ard the burden 1t viii impose upon them will be
met in spirit and carried forward with ygor that
will soon relieve them permanently from AIRY further
eepe, DEL &c upon the American Telegraph Company.
The Press does not seek this result which cannot be
otherwise than disastrous to the stockholders Of the
Company. On the contrary, they would willingly be
relieved from the necessity which likely ~ COM
rel them to erect telegraph lines for the purposes
of their business And while they hold in their hands
satisfactory offers to build and work lines from
responsible parties with any amour! OF capital and
any extent of wires which their business may require,
thew are ready to meet the American Company in
spirit Of fairness and TO heal up all existing difficulties
on basis that ought to be satisfactory 10 Any liberal
mind. man. This they even anxious TO do, not
only because they strong aud sincere desire to
pu an end all pretexts for any farther warfare be-
tween the important interests involved, but also be-
cause they count among the stockholders Of the Ame
can Company many friends who having heavy in
vesments in its stock which they justly consider to
be seriously mperied by the present attitude OF the
Executive Committee, are also exceedingly anxious
that compromise should be Effected. IL Is at the in
stance OF these friends of the Press that the meeting on
the 18th Ist has been called. AT that meeting il Is
presumed the past conduct of the Executive COMMITTEE
Of the Company will be thoroughly considered, and
the cooper alton Of the stockholders will be expected to
carry forward such measures as deemed neces-
sary TO effect adjustment Of the existing di6cdies
the stocl holders under the Ne@Jersey charter oil
the Company, having full power in the matter.
But if what we lear concerning toe temper OF q
majority of tie Executive Committee and the Directors
te true, there is much to apprehend failure in
the purpose of these peacemakers. Wholly mstaking
the motives which have thus far prompted newspaper
propr.tors to forbearance in tits matter tha. portion
Of the Directors who have hitherto managed the affairs
of the Company have, ,s given to understand,
received 10 perseyere in their injustice, in spite OF all
renonstrances In this state OF the case stockholders
should make it point to be present represented at
the meeting week. as upon the action Of the per-
sons whs may then assemble viii, in our judgment,
depend the prosperity If not the very existence OF the
Company. ~. T.. 49,. ....-.. +.
Amorp the twelve Directors who are understood to
sustain the arbitrary aud unjust conduct Of the Execu
tive Committee of the Company are z. Barnun, w.
NJ. Swain. A. Kendall, III. o. Alden, +. Morris, Il.
W. RuseH, D. Mchesson, anu " hu'"!' 'o
oppo,ed TO The Committee are understood TO be Prof.
Mersc, Wilson G.. Hun, Cyrus w. Field, and A. ).
Hewitt. We would suggest to stockholders who
cannot be present at the meeting, the propriey OF
giving ttir proxies to gentlemen of intelligence and
respeetabity in this city, who have no partisan views,
but who III attend TIE 2sth, and act in accordance
with tie true interests of the Company which, surely
not be attempt extort unreasonable sums from
the Press CT the public, TO 80 oct Of their way to
threaten or quarrel with their best customers. Stock
holders should not in judgment, allow themselves
to be represented at the meeting by the Executive
Committee, or by any pcrson who sympathizes with
those gentlemen.