Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-03-24
TIL e CITY.

Our TELEGRAPH SYSTEM. Within 4
few days past, there has been a marked
change in the telegraph business Of the
country. The leading companies of the
country have consolidated their interests SC
as TO create a monopoly, which will placs
the entire business Of the country. In Their
hands and at their mercy. This combina
ton erects a corporation which is supreme
and may dictate with absolute authority the
telegraphing business Of the country, unles.
it is counteracted by the erection Of com.
peting lines. There is an attempt now be.
ing made TO do this very thing. A company
has been organized 10 build and operate
competing lines from Halifax 10 New Or.
leans, and are soliciting subscriptions Of
stock to carry out the enterprise. Books
are now open in this city for the purpose, at
the Second National Bank, and we hope our
business men viii investigate the matter and
subscribe literally. The following which
we clip from the Louisville Courier, gives a
fair statement Of the matter:
The other day we called public attention
TO the consolidation Of the American Tele-
graph Company and the Southwestern Tele-
graph Company, into the American Tele-
graph Company" and also the consolidation
of the Western Union Telegraph Company
and the United States Telegraph Company
into the "Union Telegraph Company, ?
These two great consolidated companies, the
American Telegraph Company and the
Union Telegraph Company, as we learn from
a gentleman just from New York fully con
yersant with all matters pertaining 10 tele-
graphing, are about to consolidate and form
the American Union Telegraph Company"
with a capital Of fifty millions of dollars.
1t is intended thus TO engross and absorb
the telegraph business in this country, and
create tone grand monopoly" That such a
monopoly may be powerful for harm is be-
yond question; and that, with its great pow
er and influence, il will do it whenever it is
10 its interest, is equally certain. 1t is dan
gerons 10 intrust the rights of the public to
the control of such a corporation. They
will have the control Of all tolls and rates
of telegraphing and favorites connected
with-the monopoly can and will secure and
receive favors and advantages in commercial
business and trade at all the great centres of
population in the country. Many and
serious complaints have been made for
years against the management of the only
line from Halifax 10 Boston, by which par
ticular parties frequently managed TO get
possession Of important foreign commercial
intelligence, in advance Of the merchants
generally, and the press.
"The Boston and other merchants have
suffered from this combination, until they
have determined TO furnish The means 10
extend other lines 10 Halifax, and form con-
nections from Halifax 70 New Orleans.
branching to all the principal cities Of the
country, and distribute the commercial and
all news, foreign and domestic, at once,
promptly, equally, and impartially, without
favoritism, 10 all commercial circles and the
general public. This can only be accom-
plished by competition.
In order 10 accomplish this object,
wealthy merchants and capitalists of Boston
and other cities propose, and have resolved,
20 build line from Boston to Halifax the
coming summer.
They propose theimmediate extension Of
the lines Of the Insulated Lines Telegraph
company" the franklin Telegraph compa-
NY" the Banks and Brokers Telegraph
company" and the Southern Telegraph
company" and through these separate COM
panies making telegraphic connection with
every important point, North, East, West,
and South. The opposition TO the great tel
egraph monopoly have lines now in opera
ton from Boston to Pittsburg and other
Western points, and viii soon reach Cincin-
natl. There will then remain only lines
from Cincinnati and louisville South, and
from Boston 10 Halifax 10 be completed. 1t
is determined to erect these lines the present
year. The Southern Telegraph company"
we are assured, will commence their work
at a very early date. We trust all these lines
will be completed, and that it will be
understood that they are not to consoli Gate
with the grand monopoly, and come d, Ter
its control
The Southern Telegraph Company, we
are informed, have resolved TO make no con-
solicitation 70 increase the influence Of this
monopoly. In fact, we understand that sub
scriptions to its capital are received with the
distinct understanding that no consolidation
can be expected except by the consent Of
three-fourths of the stockholders We be-
lieye, however, that there will be no reason
20 apprehend such consolidation, as the real
interests Of the Southern Telegraph Com
pRny will be to continue separate. We feel
thegfullest confidence that the stock of the
SosAhern Telegraph Company will prove
remunerative 20 the stockholders The bust
ness oftelegraphing has increased many fold
in the last five years, and will continue TO
increase largely, and ultimately besubstitut-
ed for postal communion. Our citizens
should take hold of the Southern Telegraph
Company, and take the stock 10 build the
whole line in the next six months"