The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-07-19
The following table shows the highest and lowest
prices of the principal stocks during the day.

THE WESTERN UNION TELEGRAPH COMPANY
Tho London papers received by the last mall con-
tain long advertisement OF the Western Union
Telegraph Company, inviting proposals for
S1o00,000 thirty year seven per cent first mortgage
building bonds, principal gold and interest May
and November, the proceeds to be devoted to the
erection Of tho new building, on the corner Of
Broadway and Dey street. The loan is offered at
OF per cent, less a rebate Of per cent for cash,
which brings the price down to, as nearly as may
be, par. 1t seems curious that corporation Of
over $40, 100000 of capital, with claimed
NET REVENUE
for the past year of $2,697s16 should seek to Dor
row abroad and mortgage It's property rs security
for so small Hn amount as million and a half Of
dollars. This question aside, the advertisement is
interesting to us in this country for the narrative
which it contains Of the operations and business Of
the company the details OF which are usually made
profound secret by the officials here. The adver
tisement comes, therefore, in the light Of an
ANNUAL REPORT,
and as such will be highly Interesting to the stock
holders and the community generally. England
hears OF Livingstone through America New York
learns OF local corporation through London. The
company in offering the loan to the London public
have lOOsened their long silent tongue. We give
such paragraphs OF the advertisement as tell the
story
The Western Union Telegraph Company of the United
States Of America Is probably the largest undertaking Of
the the ssd III tire MSf OF me
absorbed nearly al o,hsr composing lines forming the
Tered by Her Mss5 s GsneGa5 Some idea
that has in operation less than 10 n miles OF line
sa s 1 % @ h sns o. Ss ms
THE s q ,esn b fSs ast c y
81: r. -: s! g; e; S
70 the directors
~ 9 ssa!s ssaSs sisS
its growth and have seeordnsy secured site
asa
oon The Ss the Company and the
estimated cost the buildings and fittings is $500 co. TO-
Building oI RSys been
above property to the Union Trust Company, OF New
s
E Sesn Say ass es% n% ass the
in addition to such special security holders bond.
s on Sna SaSss
to 50 or T. @ seTg a 70 mes me en- interest n on
and rca
saf sSGsSy Sr to Or WAY s
amount required for the payment such interest the
exceptionally first class character the security viii ut
lutte security by the in the valuable
property in Broadway nortgagcd by the Telegraph Com
pany In favor of the bondhoders
In addition payment OF the interest the Telegraph
Company undertakes 70 place in the hands OF the Trust
Company the LIST OF May in each year. for the period
fund to be applied in the pure by Company
portion the bonds Tor subscription, at such
prices they purchase the same 10 ten cent
the bonds SO acquired forthwith cancelled The
Telegraph Company may also itself purchase and hand
however, the Trust Company not be able to purchase
bonds at ten premium, higher price may be paid with
the consent Of the Telegraph Company and the said sum
Of S30O to continue to be set aside annually until the
amount OF the bonds outstanding shalt be reduced to
the holders remaining bonds they will thus become
purchased will he paid of at 81 900 In gold in New York
on the OF May 1902 An important option reserved
provided they may converted into the share stock
the said bonds -
the purchase OF these Ines and whenever may elect
must direct the appointment OF two arOitrators ON the
part OF the arbraors to be appointed
by the company, who empo Sered TO determine the
sum to be paid an umpire being named III case " dis
agreement Whenever the government may decide 70
ing option reserved To the bondholdcrs OF converting
their bonds into the capital stock OF the company must
become very valuable as II must result III the company
receiving very large sum for the surrender OF its priv
eges and Its highly profitable and progressive under ak
ing As an illustration OF the great increase III value III
the stock OF a similar under under such circun
the sharehodcrs OF the Electric and international Tele
graph Company, whose property was acquired recently
stock II will be therefore, that the option alluded
may, under the circumstances OF the lines being pur
chased by the United states government prove exceed
inyy valuable.