The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1868-09-19
EXECUTIVE COMMITTEE
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70 dI AcAoOhdOAC AabSo.
Lompefiton persus Monopoly.
l. The whole telegraph system of the U.
States is now in the hands of one company.
The evils inseparable from such a gigantic
and dangerous monopoly are already num-
erous and increasing. Relief can be found
only in legitimate competition.
Distribution 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 it is designed
to promote, and whose liberal patronage
wiB insure its success. To this end it is
decided to place the Stock at all commercial
points. 1t will be distributed to Bankers,
Merchants, Manufacturers, and others in
limited amounts.
The Capital Stock.
81 Is Ten Millions of Dollars, divided into
shares of One Hundred Dollars each.
CaIl-HoaC 10 be Made.
a. One per ct of the stock will be required
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, 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.
Aetual 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 viii connect all
the commercial centers 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 construc-
tion of new lines.
Income.
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 of
Wire equipped and in operation, the company
believe that at reasonable rates, tbEDbusi-
ness will pay liberal dividends on bn-
tire capital stock.
(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
stock thus inflated satisfactory dividends.
Our company will duplicate all the remun-
erative lines now operated by the monopo-
Iy, and subscribers will pay for our stock
only the exact cost of our lines.
additional Reasons.
O. The existing telegraph monopolies have
never sought to supply adequately the de-
mand for the use of the telegraph, much
laSc hav fbau af cfiunIafa cftrb
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 a prodigious tax
upon the commercial necessities of the coun-
try An advance in rates is their uniform
expedient for limiting the amount of their
business to their restricted facilities.
Increased Facilities and Loper Rates.
10. Every intelligent man knows that an
enterprise founded upon the necessities OF
trade has healthier and more durable basis
when it aims to do a constantly increasing
business at fair rates than when it does
i2erely 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 telegraphic facilities were
furnished to the public at one-tenth of the
present rates, the increase of business
would justify the change.
Our Proposed Telegraphic Range.
IL. Trunk lines throughout the United
States and Territories, which shall ultimate
ly connect with lines to Europe, Asia, and
SQnk, America.
- lXAcn TO be Done.
ne year from the. time the
Inscribed, the company ex
ed twenty-five THOUSAND
lest materials. enuip
of the latest Improve
kole range in successful
iaty of Success.
sgided that every stakeholder
1 edition 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
tributed, and every stakeholder having o
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 win be ap.
5binted on the Recommendation of the stock
| holders in the various localities, and the
operations of the company thus become gen
eral in its management as well as its bust
ness.
The company Permanent.
Is. Heretofore every new telegraphic en-
terprise has sooner or later been absorbed
by the dominant monopoly but the third sec
ton of the act of Congress which conferl
upon this company its valuable franchises
absolutely requires it to maintains separ
ate and Independent existence. ISee the
Act below $3.50 ~
8 The Old System. - ls
16. Under it telegraphic companies hare
been organized by few wealthy capitalists
these companies have been consolidated nm
der one Board Of Management; they ar,
made up of opposition companies, with par
tallel, lateral, and useless routes, costly I.
maintain. Their liabilities are heavy, ans
they employ multiplicity Of officers VIII
receive large salaries; yet they pay larg
dividends. With their capital stock largel,
watered, amounting now in the aggregate
to Forty-two Millions of Dollars, they seel
Ito monopolize the business at exorbitan
rates, and thus benefit the few ut the ex
pense of many