North Iowa times. [volume] (McGregor, Iowa) 1867-current, 1867-03-06
McGREGOR, iowa. WEDNESDAY, MAR 6, 1867
A Few "E xprcss". Problems to a "Share-
holder iO
McGREGoR, Iowa, March 4, '67.

holder ."
McGREGoR, Iowa, March 4, 'G7.
EDS. McGREGoR pINEs In your issue
of February 9th, is an article purporting
to have been written by bona fde stock
holder of the Merchants Union Express,
signing himself "Padlock" On commenc-
ing to read the article of "bona fide stock
holder" we came to the conclusion that
this brilliant erpose of talent never came
from the brain of stockholder in the
MERCHANTS UNION. On the contrary, it
must have riginated with party deeply
interested in the U. S. or Americana
gentleman (?) who has had recourse to
newspaper items and sensationalities in
tended to place the Merchants Union in
| distrust. Thus far, such attempts have
been vain. When our Company extended
their line to Chicago, in September 1866,
the old monopolies gave US sixty days to
dig our grave! Those sixty days have
gone by and the NJ. U. still lives! To-
day it is in the front rank of Express
Companies, doing more business and on
more liberal terms than any other compa-
ny in the same line of enterprise. Take
into consideration the amount of territory
covered by our lines, the number of Offices
established and you will find no parallel in
business history. Below 1--WE hand you an
article from the Milwaukee Daily Sentinel
of February Goth. 1t is complete an
swer to the queries of some of the preten-
ded stockholders in the old monopolies:
G. w.
OFFICE MERCHANTS UNION EXPRESS Co.,
corner broadway and franklin Streets
NEW YORK, February 1S 1867.
To the Editors Of the n. Y Express:
A communication appeared in your pa
per OF the 10th inst, purporting t6 be from
stakeholder Of the Merchants Union
Express Company.
l have several good reasons for believ-
ing that the article did not emanate from
stakeholder of this company:
lst. Men seldom attempt to depreciate
their own property.
I'd. Any honest stakeholder knows that
he can get all necessary information as to
he affairs OF the company at the general
Office in this city, or by applying by letter
to any OF its officers, and that it is unnec-
essary to resort to the press for the pur-
pose.
3D.. 1t is known that the Merchants
Union Express Company, has recently
called for payment of per cent. on the
capital stock of the company and the
managers have expressed the confident be-
lief that this amount will place the COM
pany on firm basis, rendering it COM
plete success beyond question. Simulta-
neous with the issue of this call, letters of
similar character to the one i'm YOUR pa
per have appeared in several cities. all
purportng to come from stockholders but
all evidently emanating from the same
source and aimed at one object, that of in
JurlnS the company, in the success of
which they profess to be interested.
4th. The fourth and strongest reason
have for believing that Shareholder is
not stockholder in the Merchants Union
Express Company, but is stockholder in
one of the old monopolies, is, that he is
evidently in an unhappy state of mind
Our stockholders are not melancholy.-
Why should they be? 1t is we'll known
that 80 per cent. of them are heavy ship
pers of express goods. A single stock
holder OF this company in Chicago paid the
old companies in one year, previous to our
organization, over 100000 in express
charges.
Rates are 20 per cent, and in some To-
cailties % per cent, lower than they
were one year ago.
p,ar.bo,t o,y,,;rr nDn r.
doing an express business of $1,000 per
year, according to the statement of
" Shareholder has lost $3.50 on the val
ue OF his stock, provided he is forced to
sell it to-day but in one year he saves
5000 on express charges, SO that he has
gained in one way ten times what he has
lost in another. Shrewd merchants COM
prehend this subject, and no call ever yet
made by the Company has met with so
prompt response as the last one. Again:
" Shareholder thinks the fact that the
stock can be bought in Wall Street at s5
less than the amount paid in, looks badly
Tor the Company, indicates mismanagement
on the part of the Directors, and has
gloomy appearance generally. Now this
idea suggests several little problems in the
rule OF proportion.
lst. If the depreciation of S. per share
on the stock of new company indicates
mismanagement on the part of the Direct
ors, what does depreciation of S65 per
share on the stock of an old company in
the same period indicate?
I'd. 1t the stock af one company depre-
ciates from Sl25 to S62 in value, while that
Of another depreciates S5 per share what
VIII be the market value of the former
when the latter shall have deprecated $40
in value?
sd. If five months competition reduces
the market value of stock from SIPS to |
s62 per share, how many months compe-
tition will be required to wipe out the mar
ket value of said stock?
Now, Messrs. Editors, please give nv |
compliments to your anxious correspon- |
dent%and assure him he will be politely |
received at our Office, and any information
which can be prudently made public
will be given to him. If he wishes to form !
an idea as to the business of the Company,
he can visit our depot in this, or any of
the Western cities, and if his visit fails |
to convince him that this company is doing
more business than any other, and, in most
localities, more than any other two COM
panies, l will pay him for the trouble and
expense of his visit.
Ii that communication from "share-
holder" was published gratuitously, you
will of course insert this reply on the same i
terms. If, however, as | suspect, that let
ter was published as an advertisement, with
orders to send the bill to one Of the old ex-
press companies in this city, you will pub
lish this on the same terms, sending the