The Hickman courier., 1868-06-06

Holladav TEE "a rIas w
Iceables, John NJ Jaycex 80
: -srge B Walter. Isaiah Ria q
Noble Erastus Corning, jr. Broad
Psncipal Office of the comnonr
way, New York. Rooms Nos. 3sS.S
EEO2EDecaGise conn M
II viii be seen by the statemea o. Tie
contained that the Organization. OF "a;
evn!nsrccsfaff Mcf Z ans nnesessssity growi1 of
telegraph faciiitfs q sss lsse6Is
Competition veysus uonopoly! =
/. The whole telegraph system of they
States is now in the hands of one company.
The evils inseparable from such gigantic
and dangerous monopoly are already num-
erous and increasing. Relief can be found
only in legitimate competition
Distribution Of Stock.
sanIt is proposed that the benefits Of this
81 ~ shall be enjoyed, not by few fa-
rsons, but by the business men OF
htry, whose interest il is designed
ID 5note, and whose liberal patronage
Ensure its success. To this end il is
Led eplace the Stock at all commercial
yIt will be distributed to Bankers,
Merchants, Manufacturers, and others in
limited amounts. u
The Capital Stock.
(s.l Is Ten Millions of Dollars, divided into
shares of One Hundred Dollars each
CalL-Holr TO be hdde.
4. One per ct of the stock will be required
on subscribing, and subsequent calls, net TO
exceed five per cent per month, VIII 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 ene per cent
is paid until the entire capital stock shall
have been subscribed.
Aehaal Capital Required.
5. The company confidently believe that
thirty-fve per cent of the capital stock will
construct and fully equip Twenty-Five Thou
sand miles of Wire, which will connect all
the commercial eentcrs 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 CON-
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.
Z 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 ot
Wire equipped and in operation, the company
believe that, at reasonable rates, the bust
nsss s~iil Fs~- liberal dividends on III en-
tire capital stock.
Reason, for the BELIEF.
(s) May be found in the enormous profits OF
every considerable telegraph line operated
on this continent The present telegraph
tent of over one thousand per cent on the
amount paid in; and still it pays. on the
stock thus inflated, satisfactory dividends
Our company viii duplicate all the remun-
erative lines now operated by the monopo-
ly, and subscribers viii pay for our stock
only the exact cost of our lines.
Additional Reasons.
O. The existing telegraph monopolics 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 a
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 eoun-
try. An advance in rates is their uniform
ex pedient for limiting the amount of LheiI
business to their restricted facilities.
Increased Facilities and Loscer Rates
TO- Every intelligent man knows thas4r
enterprise founded upon the necessities o
trade has healthier and more durable lasi'
when ii aims to do a constantly increasing
business at fair rates than when ii doe
merely restricted business at exorbitan
and increasing rates. The success Of cheal
postage in Europe and America seems neye
to have been thought. of by the TELEGRAPH
monopolists. 1t il believed that if tel
tines thepresent telegraphic facilities wer
fsi0yoNIso the public at one-tenth Of tn
kon TStss, the increase of bushes
g Justify the change. ~
= Proposed Tslegrqphie Range.
k lines throughout th4 Unite
4 Territories, which shall ultimate
" S7n.iect with lines to Europe, Asia, an
South America.
When 10 be Done. -
r. Within one year from the time I'll
capital stock is subscribed, the company ez
pect to have finished twenty-five thousan
miles of wires of the best materials, equir
ed with instruments of the latest improve
ments, and the whole range in ssuccsssfu
operation. 49, 80
10. 1t is provided that every sfs.c27 -
| in addition 70 his regular Dividends, k
receive an equitable rebate on the amsp ~
business furnished by himself, payahldfa 81
nually; thus, the stock being wideiy ldi'
! tribufed. and every stockholder having
special interest to augment the busin y
the cseapany, success is deemed inevitT
/ Distribution Of Directors.
Il. To secure in the management an leauii
Az Nresentation of the stockholder
the country, the large commeI
4 will be represented in itsfl fl5off
Eors and local agents will be 81
on the Recommendation of the xstes
- s.the various localities, and th
A operaffsN Dsf the company thus become ger
Il erai in its management as well as its bus
A ness
The company Permanent.
Is. Heretofore every new telegraphic er
terprisa has sooner or later been absorbe
by the dominant monopoly but the third Sc,
tion of the act of Congress which confer
upon this company its valuable franch Use
absolutely requires it to maintain sepal
ate and independent existence. TSee ID
Act below.
The Old System.
16. Under it telegraphic companies bav
been organized BY a few wealthy capita,; =,
these companies have been consolidated mn
der one Board of Management; they ar
made up of opposition companies, witbna,
allel, lateral, and useless routes, costly |
maintain. Their liabilities are heavy IN
they employ multiplicity of officers wb
receive large salaries; yet they pav i.
dividends With their capital stock Ia,~.I
watcred, amounting now in the aegrsss =.
to Forty-two Millions of Dollars, t6ev So
TO monopolize the business at exorb;s. !,
rates, and thus benefit the few at ths :.
pence Of NAM. -