The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1866-11-02
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THE M1ACHANrSs nxfREss con-
PANY.
The Agent Of the Merchants Union Ex>
press Company 1t this place addresses Us -
follows. We publish the axticls as re-
quested:
KEoKuK, Nov. !, 1866.
EDITOR GATE CRY: 9
In your issue Of this morning you copy
from the Rochester Union an article rejecting
on the management of the affairs of our com.
pany. In justice 70 the company pleass pub.
lish the letter Of &. P. Ross, President,
which please End ia . copy of the Chicago
Times accompanying this Communication.
Yours respectfully,
A. L. SWEET, Agent.
Pr. Cunningham. i
OFFICE OF MRR. Uxiox ExrRRss Co.,
AUBURN, N. T., Oct 10, 1866.
Editor Of the Rochester Union and Advertiser
DrAR SIR: Ny attention has been called to
an article in your issue of the 18th inst
wherein your give currency to several un>
founded and absurd rumors, stated by the
agents of the old express monopolies-
Justice to the stockholders of this conn
pany, some Of whom might be misled by your
article, requires that | should make an en-
phatic and uneq Iivocal denial of the alega-
tons in the artiele referred to.
1t is true, as every stakeholder knows, that
the capital stock was increased. TWAS so
increased on the unanimous and concurrent
vote of the Executive Board and of the
Board Of Trustees; aud it was done because
it was deemed for the true interests of the
company to embrace among the interested
patrons larger number than the original
capital stock would accommodate with shares
But it is not true-it il absolutely false--that
one dollar Of the increased capital stock, or
Of the original capital stock, was ever given
or issued to any person whatever without the
payment thereon of the installments paid by
every other stockholder.
The statements in reference to contracts for
outfits, &c, are without the slightest founda-
ton in fact. The greatest care and caution
have been exercised in the purchase Of ma.
ierial Of whatever kind and it is confessed
on sill hands that in the purchase Of horses,
wagons, safes, &c, this company has been
singularly fortunate And upon the subject
of real estate, deem it proper to state, We
have purchased Offices and stables only il
cities where it was not practicable to secure
necessary accommodations at reasonable
rents. As to the ridiculous story about pay
ing S37 900 for farm in New Jersey as an
asylum for disabled horses, il is . sufficient
answer to say that we have never purchased,
or had any negotiations for, foot Of real
estate in New Jersey; nor have We any dis
abed horses for which it is necessary 10 pro.
vide an asylum
OF the canard about any of the stock>
holders uniting "to go into the courts and
contest the legality of the proceedings Of the
directors / think it well to say, that from
the Inauguration Of our great enterprise to
this hour, not one of our many thousand
stockholders has indicated to us a want of
faith in the wisdom of the management of tho
affairs Of the company, nor has one intimated
TO us any disposition to "test in the courts
the legality of our proceedings, which indeed
neither has been or can be questioned.
beg leave to call your attention to the
fact land do not mention il to intimate that
you purposely use your columns TO injure this
company that the rumor so widely circulated,
to the effect that this company was 10 be con.
solidated with existing monopolies. origina-
ted, or was first seen by US in an editorial ar.
ticle in your paper on the 10Th Of July last.
Our line, now extending many thousands
Of miles over the great business thorough,
fares of the country, successfully competing
with the old established companies, over
coming every obstacle, and, ss you yourself
confess, winning public sympathy with sub.
stantial favor to its support, have sufficiently
answered that rumor The whole business
public has learned to believe US when we
said that in the organization Of this company
We meant business and the fact that the de-
probation in value Of the stock OF the old
companies within the last sixty days exceeds
the amount paid in by our stockholders, is
sufficient evidence of the confidence enter
tanned by business men and capitalists In the
enduring strength of this organization.
trust you will be pleased to give to this
communication the same place in your col.
umns that you accorded 10 the uniounded
rumors referred 10.
Very respectfully yours,
Z. P. ROSS, President