The Hickman courier., 1868-07-18


Noble, Erastus Corning, jr.
Principal Office of the Company ca Broad |
way, New York. Rooms Nos. 80, 81, IS.
P~OamecGWs- 81
1t will be seen by the statement herein
contained that the organization Of this COM
pany was e necessity growing out of the
commercial and business wants OF the coun-
try imperatively demanding an increase Of
telegraph facilities at reasonable rates.
Competition usTsis Monopoly.
1. The whole telegraph system of the U.
States is now in the hands of one company
The evils inseparable from such q gigantic
and dangerous monopoly are already num-
erous and increasing. Relief can be found /
only in legitimate competition.
DistribRnon Of Stock.
2 1t 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 il 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. II viii be distributed 70 Bankers
Merchants, Manufacturers, and others in
limited smounfs.
The Capital Stock.
| (3) Is Ten Millions Of Dollars, divided into
shares of One Hundred Dollars each.
Call-Hos0 to Be- Mad.
4. One per ct of the stock will be required
on subscribing, and subsequent calls, not 70
exceed Eve per cent per month, will be
made by the Beard of Directors, from time
to time, ss 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 capital stock shall
have been subscribed.
Achal Capital Required
s. The company confidently believe that
thirty-fve per cent of the capital stock viii
construct and fully equip Twenty-Five Thou
sand miles of Wire, which will connect all
the commercial centers and important places
in the United States. This opinion rests
upon the most reliable estimates and re-
sponsible offers 10 construct and equip the
lines.
Dirideads
g. In all cases the net earnings ofthis 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 construc-
tion of new lines.
Income.
Z With the stock in hands of the active
business men Of the country, exerting their
influence 10 augment its business, and with
range of Twenty-Five Thousand Miles of
believe that, at reasonable rates, the busi-
ness will pay liberal dividends on its en-
tire capital stock.
Reasons for the Belief.
(s) 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, on the
I.,raI aIar.A IL
Our company will duplicate all the remun-
erative lines now operated by the monopo
IL, 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 10 stimulate such
demand by an increase OF facilities and q
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 a prodigious tax
upon the commercial necessities of the coun-
try. An advance in rates is their uniform
ez zpedient for limiting the amount of their
business to their restricted facilities.
| Increased Facilities aud LoVsr Rates.
1 10. Every intelligent man knows that an
enterprise founded upon the necessities of
| trade
| when il aims to do q constantly Increasing
| business at fairITates than when il does
| merely a 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 teisgraphic facilities were
furnished 10 the public at one-tenth Of the
| present rates, the increase OF business
would justify the change.
Our Proposed TsEsgrGphie Range.
] IL. Trunk lines throughout the United
States and Territories, which shall ultimate
] ly connect with lines to Europe Asis, and
South America.
When to be Done.
! 70. Within one year from the time the
capital stock is subscribed, the company ex-
pect to have finished twenty-five thousand
j miles of wires of the best materials, equip
ed with instruments of the latest improve
ments, and the whole range in successful
operation.
93 II is provided that every stockholder,
in addition TO his regular dividends, shall
receive an equitable rebate on the amount Of
business furnished by himself, payable an
| nuallv thus the stock being widely dis
Il tributed, and every stockholder having a
special interest TO augment the business OF
the company, success is deemed inevitable
Il
: Distzi5ution Of Directors.
ID. To secure in the management an equit-
able representation of the stockholders
throughout the country, the large CONNER
eial centers viii be representedin in its Board
D Of Directors, and local agents will be ap-
uointed on the recommendation of the stock
holders in the various localities and the
r operations of the company thus become gen.
eral in it's management as well as its busi-
ness.
The company Permanent.
Is. Heretofore every new telegraphic en-
T terprise has sooner or later been absorbed
bv the dominantenonopiy but the third sec
: tion of the act of Congress which confers
upon this company its valuable franchises
| absolutely requires il 10 maintain Q separ-
ate and independent existence. lsee the
The Old System.
Is. Under il teiegrayhic companies have
+ been organized by few wealthy capitalists
theee companies have been consolidated IN
der cne Board of management; they are
made up Of opposition companies, with par
allel lateral. and useless routes, costly %
maintain Their liabilities are heavy, and
they employ a multiplicity Of officers who
receive large salaries; jet they pay large
: dividends With their capital stock largely
vatered amounting now in the aggregate
70 Forty-two Millions Of Dollars, they seek
70 nonopolize the business at exorbitant
Il rates, and thus benefit the few at the sx-
Psass Of ua7E