, 1866-04-20

he Republic g1ow brighter and brighter upon III
pagea Of hlttnsy till The end Of tine. Nay Leave
bie.e md proApeF your efforts.
% The conclusion Of The address. ~hieh was =
peatecly interrupted By *a1m applause. % mo'os
were unauint uslJ rendered 10 vi. Broas for his In
Tie reptlemen present were then rcvcsatlv r."
dueed 20 Governor ss's', and .ef0 fT1oy.
onEned. -vAxUAAAVNs
TELEGR Hsseern stoekhoidsrs-Rs-
-.e OF thc CazssnAisteo af 1nve%tis1-
tIon-SuspIeton OF Treaehery on the
Part of Eastern Trustees-DlspoaltIon
Frona he Cincinnati Gazette, Apn117.}
An adjourned meeting Of the stockholders
Il ah n Gniss i iSs 81 nd d'fsa9 Rs
terday afternoon ln tho Stock Exchange
room. The meeting ~as organized by Calling
Mr. Hugh McBtrney TO sae Chair, who stated
that the object for which th~ gentlemen pres
q cou1uittee that had been appointSl a week
ago to investigate circumstances and causes
leading to the consolidation Of the u. g Tel
erraph Company with the Western Union
Telegraph Company.
Mr. Groetbeck, IL one Of the COMMITTEES seated
thai be had atepded TWO MEETINGS, End, 10 con-
Junction r,h The other nsm9ss; nag a. mace Msoids
ttou OF Tho lvo eomptnlea- Speaking ior himset
alone, be did not think be snf3clentsJ understood
eommendat,on, On which no would have an, body
ACT
t;rocs beck. with about ,he ssme impre: ssons With
h3ch we began It.. l am ono Of those whom tho
cunsodailon struck unfavorshlJ, and Au stili o.
the tame aplnInn: not that would wish 10 iuti-
matr hat tnere vas not power in the Doar.l 10
uake The consolldauous nor do I Know ihat there
wa not uees.a.5 under re @ Of tae
moremcn' VA. maau without g1vtnk all The stock
hodets IN opportn unity Of e1pressng their wishes
teen advised o! pertona Totns tot the consolidation
in whom / have great confidence. aud therefore
ps ls. ss .oPeEsosss.s saPsas ny y hs tnea s.
heen eoa ated 9u{is !. mich Is hose Who r.pre
ppon their motion. ind carried through 81 their
votss. The consultation nsy have hetn Judi
c;ous movement, hut would haye preferred TO rec
inc c ous onl ls own enieIpEiss but shs Fresaen1 4
The Company and all The directors Who NeEe pres
ent ads,.ed the consolidation, and decline toe1-
not Jct Comprehend Why 1t ~aa done without cor
.ultation with the stockhoiders: II had o.cn
aceepIed place 10 1hs commitiee. nrefen1nr ,oa
on my OWL Judgment, In this way propose 10 g
our Of this tl'icutt5 the be.t way ! esn. It IL IA
Inst. cannot advfse stockholders here to institute
legal proceedings aga,nst tae goaIa ~ thsy Doaed
ss si to Do
Nr. ". ". Scarborough, another Of tho
committee. remarked that he coincidcd with
Mr. Groeebeck entirely.
REPORT or n1cEARp sx11u. ESQ.
Naripe Investigated this matter soueshat fully
and haSlDE no peYso acquaintance with any Of
the Trustees Of the United S,atea Telegraph com-
pany. except With orr own local TTnstec. Mr.. Geo.
Sol feel a. much dsl,cacy In expressing myself
doe.
sta.es Telegraph Company, w1a xaGo0, 0Ou. Alter
orcanj2ip1 md constructing Their Anes they t1ade
Contract for the cons sfucuon o. ins 70 ae raG1-
&C. srree1uE 10 pay the contractors $500 co., IN
nes .aoua Sa ai n.71 'ae Inc inst
satoooeo. III. smaunt. % IN .soeS Il ths Gaiae1
/ Shtes Telegraph Company, they would hA1e ths
| prvi1ese efmaging uio The Western Union Tsie-
1 Trustees oi the Gnissd 5lssss TsIe1ssp5 conpsay
were parties TO thst contract for contracting tha
me and h'e ntser II o 9e, pss,od nn1 sns
ihat line 10 the Pacific. Which wss TO be built ttora
chicago. would cost over 1 million OF doliaH-
| Consequently they would mako tour millions Of
there xss tonaethins In that contract between
The trustees ct tbe United ) .ate1 Telegraph Com
pany and thote ac'fns In another capacity which
my be correct under The laws and moraIs OF New
Tofk, but out hers do not btheys Il Il le=at fpt
..us :es 70 NIKE eo1uasss with ! thsn,s,ss @ TIC
those tndtvduals who Were contEacto1s for The
ras 1onts N r. .9.oe!ouf I dssr 1hsy re uso 3"s
rsny IN d.spesang Of that contract 70 them. xnd
-upderstaud that the Wesfem Union Company Gun
poe.. showing tnat the wo lines run over the same
The trustees having gone Into this contract for
buildiDE line to California and having AgTcen 10
'ake UnlteA States Telegraph stock for tho com
pensAton, they come back aud u1Ce bis coneoltda-
non Nd presae "sfe IT, r. .hs a.. 9Sto % ef + IL
| Company. and thus naakc rho Cnited States Tete'
C.aph companys stock more '*1ua dc than 'toshe1
tbs neIt fset "a got out xaa thu: that during
Tho year leG3 the United STATES Telegraph Company
proper Lost 60, COO; that Is. according TO insiI
| 10 thelr operating expenses But from iuformat
have received, rtg1r il doubtful whether ths1.
aeetnn,. Thcy nare iheir hooks 80 mf1ed up tha
they nars not been able to tell positively What hell
Operating e1pen.cs wez=., snoald consider thai ,
year, while opening Offices, introducing ,ttelG aut
| getting tuslne.s, Its a1alrs we're not such al te
me Do,Fa 81 nTsns.ss. Il .hsy I'D :: :.
. conpany, especially without eonsuiung III
se rsestu,s os ,na eoosn, tor the lat shees ..
fonr months had ALLEN 81; but It al:o appea.ct
'bat The Western Union Company suffered IN y. y,
| ,ape ground that the bushes. Of merchants fel
oH during thht time. There WIS nothing alarming
means. It could 1ass ira obts,oed from The stock
holders. Here WIS the Cnlted States Telegraph
tOmpAuy With capital OF : Ot0, 0G1. covering h
TIC Western Cnion Company Win csp,ssl Of 81,
GH10o0. II they were both losing money, 1t Is YER
vs. 5ester eoaos na 10 aod s
; competing for business, than tho Western Union
with he I'll 600, go iuve,sed And in.tesd Of cot
: | soltdarirg. the United Statea into .he WesteE
Union, II would have been mole reasonable ih1
, ,he Western Union should want to consolidate int
| thst-
II ron would look st all these points, I think yo
will come TO the sane copensionf have arrived Al
W. That tnts con- ract toe the construcuon Of th
that 1t WIS IN act which the trustees nho weru COZ
tractors On 1ha1 Line. ran INTO and urged on. WITT
out recard to the interest or the stockholdere q
| the nlitAd States Telegraph Eomp1uy proper. Hu
. now how do we stsud! Il Is possible We mIght &
into litigation, and rip up this whole hing b
We should have ripped it ap. AID suppo,,ng II 20.
> s,hfe to relnstale The United Stale. Tefecrsp
! Eompany, where would you BE-? The eosnpsu
!. much as it may Be under This consoiida:,ou, an
: therefore am titpo.eu TO make lhe nosi NE q
'oSf e i Taen HaT s91 VII ns 3 &c
r EXPLANATIONS.
I Mr.. George F. Davis explained, tn regaE
Q ! tn the contract price for constructing the p
!, cigc line being reduced from $3.50, ,0oo /
u &, ,0O0, 600, that It was done through the Ii
:. iuence OF the new President, who fnsiste
y that the difference between the two SUN
I should be taken OF the stock Of tho compaN
o proper, and placed upon the stock Of the <
+ ciic branch. Mr. Davis further stated til,
'e he had, while in New York, Investigated Il
:. affairs OF the company thoroughly, aud b
= = ccme satisfied the state Of things could nj
!. be rcmcdied-
: 4 motion to continue the committee Il
% | the purpose Of Obtaining further light on u
J. subject was lost, and the report was acceptt
Z. and the committee discharged.
= Mz, John ". Kirk remarked that he re.,ar
y y cd Tie consolidation necessity, as o,herwi
ii the stockholders would have been reqnirs
in less than thirty days, to advauce.a consi
cradle amount OF money. After explaintl
! the relations Of the several telegraph cor
70 pauies, Mr. Kirk stated that the Westcl
n | Union wunld be able to mako dividend
10 eight per cent on its capital stock OF twens
Of five or twcnty-stx millions. He Was entire
ic confident that the stock would, before lon
!: come up to par, apd probably much abo
!. l par.
: Sfr. Kirk also showed TINT it was Imprac
% til its wires touched al points Of pu.tne
"a and interest," Business men wished to do {
:, their business by one line, snd would not {
q | vide their dispatches between TWO conpanl
a II they could help It Z; hence the disadsa
le taces under which any new rival Sompa1
II 4 suffered.
=, The meeting then adjourned sins die.
d House Renting in Cincinnati.
T. IFrom the Cincinnati Gazette. 18th
4Ae sCuFC1L5 o4 uQ4scS 0n4 10Dll6 ICE re
y perhaps reached Its crisis ahont year ar
Q and for many months hardly the eign o1
- house Or room for rent could be seen on I
D. doors or In the newspapers. People who vt
L | anxious to obtnln house advertised that th
L wonld pay large bonuses Tor such rooms
r. buildings Is they waited. This state Of thin
: developed the agency business, bringing c
y y In rut sed prominence the ieatu1e Of extorti
- from the house1ess applicant large fec
ID letting him into nnother mans rooms, q
be very Eeuerally, also, charging the LANDLORD
be commission for doing the saIne job.
TO Last winter, however, the pressure began
M M'sS ease up little but still the agents held
be to the buslness by making landlords belle
~ they could obtain better prices for th
houses than they could themselves, and
d. doubt they have done so. By keeping !
he old {nshinnef bills y This house tor fe0l