The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1868-01-22
Prom me tribune Money Article.
Tho ExpreaS Bu.ineaS.

Express shares are huctuating. The
various rumors af1oat as to the details
of the recent arrangement entered into
by the several Express Companies
public, with whom Express stock has
been faVorite investment, and will DO
again when they clearly understand
the arrangement has been fully effected.
The card signed by Messrs. Dinsmore,
Ross. Barney and Wells. Presidents OF
the Express Companies, should be sat
isfactory upon this point, aud doubt
less would be, but for some erroneous
statements appearing at the same time
in the press, under misrepresentation
fthe facts.
Independent of the card signed by
the Presidents of the Express CompR-
mics, we are enabled to state positively
thar the agreement or contract referred
to by them has been duly executed,
and is being put in operation as fast as
the details can be perfected.
Considering the magnitude of these
vast enterprises, it will, OF course, re-
quire time TO perfect all the details as
agreed upon. By this arrangement the
cutting of prices ceases, and n common
tariff of rates is being arranged, based
upon the cost OF transportation, and
leaving Il reasonable margin for divi-
bends. This is the plan adopted BY the
Merchants Union in making its origi-
nal tariff as given to the public; but
owing to the fierce competition and cut
of prices, it could not at all points
ting maintain the equitable rates thus
adopted.
The managers of the express compa-
MES have the power. and this agree
ment proves their determination, to
establish such rates as will insure diUi-
dendS to stockholders. It cannot be
denied that this in some degree places
the business public at their mercy.
But the practical adoption of the orig
inal tariff of the Merchants Union,
and the fact that this Company retains
absolute control of Its lines and routes,
should quiet all apPrehensions on this
account.
The interchange of freight, money,
and packages between the several COM
panies is another important feature OF
The agreement. This will enable them
toavold duplicating or QuadrupIicatiDg
expenses at the same point, and at the
Bame time to avoid the duplication OF
nou-paYing routes. The immense re-
ductiOn OF expenses thus obtained,
goes, of course, to the benefit of the
public, and is alone equivalent to the
saving of reasonable dividends for
stock holders. We see by the United
States Revenue returns that the earn
ings ofIhe four express companies, who
are parties to this agreement, are on
the average about $l.T00, 600 per month
jim round numbers SO, OOO, 600 per year.
II, therefore, they save but 25 per cent
of their earnings, they can pay over II
per cent annual dividends, or five per
cent spontaneously, which is equal tC
any of our most prosperous railroads
1t cannot, therefore, be doubted that
hereafter, as formerly, express stocks
are to pav regular and reasonable divi
dends. This estimate leaves entirely
out of view the earnings of the foul
great dispatch lines which are owned
and operated by these express compa
MES.
The large cash surplus OF each OF tn,
companies, in the aggregate amounting
to several millions, which; as a mea
sue of prudence, was held in reserVl
during the strife, is no longer needed
for belliRerent purposes, and nigh
safely, end perhaps wisely, be divided
among the stockholders. Whether thi
will be done or not, we cannot certain
ly say; but as we stated In in n recen
issue it is currently reported that poE
ton of it will be SO divided.