Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1867-03-01
4 Few "Exprcss'' Problc,ns =.
10 A sHAhE- COLDER.

rev EXPrcAs b'rOOtcMw.
10 A SHAREHOLDER
OIticr MERCHANTS USloS ExrRnss Co.,
cor broadway and Franklin SITS,
Nsw fons. February 18th. 1907
10 The Editors Of The Nee lork Express:
A communication appeared in your paper
Of the 18th inst, purportlng 10 he from
Stock holder Of the Merchants uuion Ex-
press Company.
| have scvc.sl good reasons for believing
that the article dated DID not cmana,c from
S'ockholder Of this Company.
ls, Men seldom attempt 10 dcprcciatc
their own property.
ii. Any honest stakeholder knows that
h. can get all necessary information MS 10
III. affairs Of tie Company at its general Of
Nee In this city, or by applying by letter TO
any Il its officers, aud that It in unnecessa-
~ to resort to the press for the purpose.
Sd II "a known that the Merchants
Union Express {, mpany haa recently called
icr payment OF = per cent. on the capital
Ssork of the Company aud the Managers
have expressed the confident belief that this
amount viii place the Company on firm
basis, rendering it, complete success bc>
m ,hi. call, letters Of similar character to
the one in yonr paper have appeared in sev
crai cities, ail purpor,ing TO come from
stock but all evidently cmanat,ng
from the same source aud almvd at on OBJ
icct. that OF iulniing the Company, IN The
success Of which they profess TO he al,
rested.
lth. The fourth aud strongest reason
loo, -, Observation-Disclosures "a ,,nt
n s,oekholicr IN The Merchants Union Tx,
press Company. but Is a stakeholder in one
., the old monopol,cs. is, that he "a evident
" in an unhappy state Of mind Our stocks
holders are not melancholy. Why sholli
they be? II is we'll known that 10 PER-
cent ii them arc heavy shippers Of express
goods. A single stakeholder Of this Com
pany in Chicago paid the old Companies in
one year previous 10 our organization over
tloo.ooo in express charges.
Rates are now rs per cent. aud In somc
localities 30 per cent. lower than they were
one year ago.
A merchant owning $4,000 Of our stock
and doing an express business Of IS 900
per year, according 10 the statement Of
shareholder" has lost $3.50 on the value
VI atock, proviscd he 10 forced TO sell il to-
00y OUt W OUc yCUu U0 0oveS v-sVVV w
$4,000 on exprcss charges. % that he has
gained in one way ten times what he has
lcss in another. Shrewd merchants com
prehcnd this subject. and no call ever yet
made by the company has met with -
prompt . response % the last one. Again !:
shareholder thinka the fact that the stock
can bc boUght in Wall street At s. less than
the amount paid IA, looks badly for the
company, iodieates mismanagsment on the
palt Of the Directors, aud has gloomy ap
pcarancs generally. Now this idea suggests
seven little problems in the rule Of propos>
ton:
LIST. III depreciation of45 per share on
management % The part of che Dwectoro,
what does . depreciation Of eos per share
On The stock ef an old company in the
same period iadicaaes
ID. II the stock Of one company dcpre
eiste from &ls5 to tes In value, while tha
Of another deprceiases IS per share, what
will be tho market value Of the former wher
che latter shall have depreciate tlo il
value.
81. II Ave months competition rcducel
the market value Of . stock from $l25 Il
o63 per share, how many months compe-
titi,n will be required to wipe out the mar.
bet value of said stocks
Nov, Messrs. Editors, give my compii.
msnts. and assure him he will he poltelJ
received at our office, and any information
which can prudently BE- made public viii
be- given him. II he wishes to form q
idea % TO the business Of the company h
can visit our depot IN this. " asy Of tn
western cities, and il his visit fails to con
vince him that this company 10 doing NOR
business than any other, and. 10 most local
tiles, more than any other tive eenrenisA
will pay him for the trouble and expeoss Q
his Wait. -sMAsg
1.-THE communication from ''Shassholder'
was published gratuissusly, you viii Q
coarse iassss this reply o. The same terus
II, however. % ! suspect, that letter wal
published - An advereiscmcns with order
% sead the bill - one Of the Of.
sxpeess compaaies in this city, you vii
publish o. the same terms, sending bin I,
n oflss Of the new com pany. corner Of
Roadway and Frankl:n stsceta.
NORMAN q. MILLER.
General Manager in New York.
49, ~. r;wctnnatR Commeecial Feb 9th