The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1868-04-25

way, New York. Rooms Nos. So, 81, So
FEeo~RecG an 81.
1t will be seen by the statement herein
contained that the organization of this COM
pany was a necessity growing out of the
commercial and business wants Of the coun-
try imperatively demanding an increase of
telegraph facilities at reasonable rates
Competition versus Monopoly.
1. The whole telegraph system of the q.
States is now in the hands of one company.
The evils inseparable from such a gigantic
and dangerous monopoly are already num-
orous and increasing. Relief can be found
only in legitimate competition.
Distribution Of Stoch
9 II is proposed that the benefits of this
company shall be enjoyed, not by few ia
vored persons, but by the business men of
the country, whose interest 1t is designed
to promote, and whose liberal patronage
will insure its success. To this end il is
decided to place the Stock at all commercial
points. It viii be distributed 10 Bankers,
Merchants, Manufacturers, and others in
limited amounts.
The Capital Stock
(s.) Is Ten Millions of Dollars, divided into
shares of One Hundred Dollars each.
CalI-Ho,c to Be Made.
=.
on subscribing, and subsequent calls, not to
exceed five per cent per month, Will be
made by the Beard of Directors, from time
to time, as may be necessary TO supply
funds to construct and equip the lines: but
no calls will be made after the one per cent
is paid until the entire @pital stock shall
have been subscribed.
actual Capital Required.
5. The company confidently believe that
thirty-fve per cent of the capital stock win
construct and fully equip Twenty-Five Thou
sand miles of Wire, which will connect all
the commercial centors and important places
in the United States. This opinion rests
upon the most reliable estimates and re-
sponsible offers to construct and equip the
lines.
Diridends.
6. In all cases the net earnings of this com
pany will be applied to the payment of divi-
dends on its capital stock, and in no event
will earnings be diverted to the cOnstrue-
ton of new lines.
T. With the stock in hands of the active
business men of the country, eXerting their
influence to augment its business, and with
a range of Twenty-Five Thousand Miles of
Wire equipped and in operation, the company
believe that, at reasonable rates, the bust
ness will pay liberal dividends on its en-
tire capital stock
Reasons FOR the Belief.
49, May be found in the enormous profits of
every considerable telegraph line operated
on this continent. The present telegraph
monopoly has .'watered' its stock TO the ex-
tent of over one thousand per cent on the
amount paid in; and still it pays, the
stock thus inflated, satisfactory dividends.
Our company will duplicate all the remun-
erative lines now operated by the monopo-
ly, and subscribers will pay for our stock
only the exact cost of our lines.
additional Reasons
Q. The existing telegraph monopolies have
never sought to supply adequately the de-
mand for the use of the telegraph, much
less have they attempted to stimulate such
demand by an increase of facilities and
reduction of rates. While their facilities
have remained about constant, their rates
have steadily advanced, until the use of the
telegraph has come to be prodigious tax
upon the Commercial necessities of the coun-
try. An advance in rates is their uniform
ex pedient for limiting the amount of their
business to their restricted facilities.
Increased Facilities AID Lower Rates
10. Every intelligent man knows that an
enterprise founded upon the necessities of
trade has a healthier and more durable basis
when it aims To do a constantly increasing
business at fair rates than when it does
merely restricted business at exorbitant
and increasing rates. The success of cheap
postage in Europe and America seems never
TO have been thought of by the telegraph
monopolists. 1t is believed that if ten
times the present telegraphie facilities were
furnished to the public at one-tenth of the
present rates, the increase of business
would justify the change.
Our Proposed TeIegTapAic Range
IL. Trunk lines throughout the United
States and Territories, which shall ultimate
~ connect with lines to Europe, Asia, and
South America.
When to be Done.
IL. Within one year from the time the
capital stock is subscribed, the company ex-
pect to have finished twenty-five thousand
miles of wires of the best materials, equip |
ed with instruments of the latest improve |
ments, and the whole range in successful |
operation.
Certainty Of Success.
13. II il provided that evs-y stockboIeler,
in addition to his regular dividends, shall
receive an equitable rebate on the amount of
business furnished by himself, payable an
nually thus, the stock being widely dis
and every stakeholder having a
special interest to augment the business of
the company, success is deemed inevitable.
Distribution Of Directors.
IA. To secure in the management an equit-
able representation of the stockholders
throughout the country, the large CONNER
cial centers will be represented in its Board
Of Directors, and local agents viii be ap-
pointed on the Recommendation of the stock
holders in the various localities, and the
operations of the company thus become gem
sral in its management as well as its bust
ness.
The company Permanent
10. Heretofore every new. telegraphie en-
terprise has sooner or later been absorbed
by the dominant monopoly but the third sec
lion of the act of Congress which confers
upon this company its valuable franchises
absolutely requires it to maintain a -separ-
ate and Independent existence. ISee the
Act below.
16. Under it telegraphic companies have