Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1866-10-27
The Merchants Union Express Com
pany-Erue Statement.

~ Ill W
pHny-True Statement.
The Rochester Union published an article
making charges against the management
of the Merchants Union Express Compa-
ny. The following letter to the Rochester
Union proves beyond doubt that there is
no truth whatever in the insinuations made
in that article:
OFFICE MERCHANTS UNION EX. Co.,
AUBURN, N. Y, October 10, 1866
To the Editor Of The Daily Union and Adrer-
tiSer:
DEAR SIR-My attention has been called
to an article in your issue of the 18th inst,
wherein you give currency TO several un-
founded and absurd rumors, started by the
agents of the old express monopolies.
Justice to the stockholders of this COM
pany, some of whom might be misled by
your article, requires that should make
an emphatic and unequivocal denial of the
allegations in the article referred to.
1t is true, as every stockholder knows,
that the capital stock was increased. 1t
was so increased with the unanimous and
concurrent vote OF the EXecctive Board,
! and of the Board OF Trustees; and it was
done because it was deemed for the true
Interests of the company to embrace among
its interested patrons larger number than
the original stock would accommodate with
shares. But it is not true, it is absolutely
false, that one dollar of the increased capi-
| tai stock, or Of the original capital Stock was
ever given or issued to any per on what
ever without the payment thereon of the
same installmeuts paid by every other
stOckhOlder.
The statements in reference to contracts
for outfit, &C., are without the slightest
| foundation in fact. The greatest care and
caution have been exercised in the pur-
chase of fm9terial of whatever kind and 1t
is confessed on all hands that in the pur-
chase 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 in cities where it was not
practicable to secure necessary accOmmO-
datiOns at reasonable rates. As to the ri
diculous story about paying $4,000 for a
farm In New Jersey, as all asylum" for
disabled horses, it is a 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 disabled
horses for which it is necessary to provide
an asylum"
OF the canard about any Of the stock
holders uniting "to 60 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 enter
prise to this hour, not one of our many
thousand stockholders has indicated to us
want of faith in the wisdom of the man
| agement of the 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 now to call your attention to the
| fact (and / do not mention it 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 to be consolidated, with eX-
listing mOnOpOlies, originated, or was first
seen by us, in an editorial article in your
paper of the 10Th of July last.
Our line, now extending many thOus-
ands of miles over the great business thor
oughfares of the country, successfully COM
peting with the old-established companies,
overcoming every obstacle, and, as you
yourselfconfess, winning public sympathy
and substantial favor to its support, have
sufficiently answered that rumor. The
whole business public has learned to be-
lieve us when we said that In the organiza-
tion of this company we meant business; and
the fact that the depreciation 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 entertained 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 to the unfounded
rumors referre to.
Very respectfully, yours, ~ln5 Iugl4g
r. =, Ross. President.