The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1868-05-02


FH"oSKDeaeG Gu So
1t will be seen by the statement herein
contained that the organization ot+4is com
pany was a necessity growing o'sc OF the
comm ercial and business wants of the coun-
try imperatiyely demanding an increase OF
telegraph facilities at reasonable rates.
Competition rersus Monopoly.
l. The whole telegraph system of the L.
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
.. 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
viii insure its success. To this end 1t is
decided to place the Stock at all commercial
points 1t WI be distributed TO Bankers,
Merchants, Manufacturers, and others in
limited amounts.
The Capital Stock
"a Is Ten Millions of Dollars, divided into
shares of One Hundred Dohars each.
Crl1-Ho,o to Be Made.
f. One per ct of the stock will be required
on subscribing, and subsequent calls, not to
exceed FIVE per cent per month, viii 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 viii be made after the one per cent
is paid until the entire capital stock shall
have been subscribed.
Actual Capital Required.
5. 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 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
Diridsnds
6. In all cases the net earnings ofthis COM
pany will be applied to the payment of divi-
dends on its capital stock, and in event
win earnings be diverted to the construc-
tion Of new lines.
Income.
l. With the stock in hands of the active
business men Of the country, exerting their
influence TO augment it's business and with
a range of Twenty-Five Thousand Miles OF
-'-r.v faf5ss s4s,z efsis che ,-as F'sssy
believe that at reasonable rates, the bust
ness will pay liberal dividends on its en-
tire capital stock.
Reasons for tie B,iIef.
(sl May be found in the enormous profits Of
every considerable telegraph line operated
on this continent The present telegraph
monopoly has s'watered' its stock TO the ex-
tent of over 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 eremun-
erative lines now operated by the Inonopo-
ly, and subscribers will pay for our stock
only the exact cost of our lines.
Additional Reasons
9. 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 abont constant, their rates
have steadily advanced, until the use of the
telegraph has come 10 be q 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 Loscer Rates.
10. Every intelligent man knows that an
enterprise founded upon che necessities of
trade has a healthier and more durable basis
when il aims to do constantly increasing
business at fair rates than when il 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 telegraphic facilities were
furnished 10 the public at one-tenth Of the
present rates, the increase OF business
would Justify the change.
Our Proposed TeiegrqpAie Range.
H. Trunk lines throughout the United
Is-t.s L..
ly connect with lines to Europe, Asia, and
South America.
H1en 10 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 1
ed with instruments of the latest improve
mcnts. and the whole range in sAeeessfuI
operation.
Certainty Of Success.
13. 1t is provided that every stakeholder,
in addition to his regular dividends, shall
receive equitable rebate on the amount of
business furnished by himself, payable an
nually thrs, the stock being widely dis
tributed 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 win be representa- in its Board
of Directors, and local agents viii be ap-
pointed on the recommendation of the stock
holders in the various localities, aud the
operations of the company thus become gem
eral in its management as well its bust
ness.
The company Permanent.
Is. Heretofore every new telegraphic en-
terprise has sooner or laser been absorbed
by the dominant monopoly; but the third sec
tion Of the act Of Congress which confers
upon this company its valuable franchises
absolutely requires it to maintain separ-
ate and Independent existence. See the
Act below.
The Old Sysfem
16. Under it telegraphc companies have
been organized by few wealthy capitalists;
these companies have been consolidated un-
der Board of Management; they are
made up of oppoaition companies, with par s,
allel, lat eral, and useless routes, costly 10
Their liabilities are heavy, and
they employ a multiplicity of officers who
receive large salariess yet ttIes- pay large
With their capital stock lar5aI,,
*atered, amounting now in the aggregass
o Forty-two Millions of Dollars, they seer
% monopolize the business at exorbitaps
.aies and thus benefit the few at thu
'ense cf many. .