Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-05-25

The Meeting Of Merchants
and Capitalists ON Change
Last Satur day. -en
The Advantages that will
Accrue 10 Memphis from ~
the New Line, Etc.

| II there Is any one grievance from
which the mercantile aud banking COM
muniiy, the press and the people Of
Memphis at large, have suffered more
than from anothe-, ii has been from the
monopoly of that most important Of all
channels Of INSTRUMENTATION, the
telegraph. Under the existing arrange
ment we have been compelled to pay the
most exorbitant rates for our use OF the
wires, and in return have received only
the most limited benefits. The press has
especially suffered in that our reports
transmitted US Geographically from
distant, points Of importance have
cost US two and three prices above
those paid at points equidistant with us
from the sources Of news, and we have
thereby been unable to lay before our
| readers such fullness andsvariety ofnews
as we would wish. and would have done
had we received our moneys worth. II
is with no little gratifcation, therefore,
that we hail the inauguration of move
ment looking to our relief We are as.
sured that new order of things is to be
instituted, and that it is to be brought
about by the extension to Memphis of the
wires of what is known as the Atlantic
and Pacific Telegraph Line. The meet
ing on Change Saturday, attended, as it
was, by leading capitalists and business
men of the city, was sufficient evidence
that there is general awakening tolthe
Importance of communicating the pro.
posed competing enterprise, and in the
persons of Col. Thurston, President Of
the Atlantic AID Pacific Telegraph COM
pany, and Mr.. A. o. Brannin, the repre-
sentative of the Southern line, by whom
the meeting was addressed, we have an
assurance that the work Of extending
the new line South is'in the hands of
jealous and practical men, and will be
pushed forward with all speed.
Tits known generally that some two or
three years ago all the telegraph lines in
the country we're merged into one COM
pany, and that that company enjoyed for
time the entire monopoly of the tele-
graph business. Soon, however, new
company was organized and erected
lines, beginning at Pittsburg and extend.
ing West. This line has, since its incep-
ton, been successful in two respects
constantly extending and constantly pay
ing. 1t has declared an average quarterly
dividend of two and half per cent, and
has accumulated handsome surplus.
The Southern line, of which Gen. Kirby
Smith was lately the President, was re-
Gently consolidated with the above line,
under the name of the Atlantic and Pa
cific; and the mission Of Messrs. Thurs
ton and Brannin, as set forth by them on
change, Saturday, is to. arrange. for the
immediate extension of the CONSOLIDATED
line to Memphis. That they should sue
coed in this is to be most heartily wished;
and we have every reason, from the i'm
petus the movement has already gained,
to believe that they will At the close of
the meeting on Saturday number of
those present subscribed literally to the
capital stock required, and more will
doubtless be forthcoming during the stay
Of Messrs. Thurston and Brannin in
the city, which will be through to-day
and to morrow. A subscription of $40,-
900 is expected from Memphis, which is
expected to be paid up as follows:
Shares $25 each, $40 to be required when
the line is completed to GAINESVILLE, $40
more when completed to Humboldt, and
the remainder when the Office is opened
and ready for business in this city. In
the event that Memphis subscrbes, as it
ia hoped she will, the line, it is thought,
will be completed to this point about the
first Of September next Messrs T and
B as we have before stated. will visit
our merchants aud business men gen.
orally during to-day and tomorrow, and
it is believed that they will find but little
difficulty in making up the desired
amount Of subscription. The capitalist
can certainly find no more profitable
Investment, as the company is already
paying ten per cent dividends, and then
by the competition the new line will
create, the business community will save
in their expenditures, in one year, more
than the amount of their subscription.
BEAUTIFUL style linen lawns, 273c. a
yard. Rice 4 Engel, 2O3 Main street. +
PRoF. LEO. WHEAT.-His many friends
among the musical circles of Memphis
will be pleased to learn that this accom-
phshed young pianist, who recently left
his home in this city to give a series of
concerts at points south of this, is meet
ing with we'll merited favor and encour-
aging success. OF his entertainment
given at Columbus, Miss, on the 18th,
the Inder says: 80 much softness of
touch, so much brilliancy of execution,
so exceeding a mastery over all that is
emotional in the tones of the noble in
strument on which his powers displayed
themselves, cannot be conceived by those
who did not attend this concert Man