The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-21
TIE CORNER IN WESTERN UNION
william orion, Horace r. Clark and
Rufus Hatch. Intervicwed-Mr. Hatch
Thinks Commodore Vanderbilt Con.
trolls the Company.

vVtllIam OrtOm, HOTaCc r. OluEX anO
Rufus Hatch Intcrvicwed-Mr. Hatch
Thinks Commodore Vanderbilt Con.
trolls the Company.
HERALD reporter called on Messrs. William
orion, Horace f. Clark and Rufus Hatch yesterday
in reference to the alleged "corner'' in western
Union. Mr.. CLARK received the reporter very pO-
litely but assured him that he knew nothing about
'the corner,n as he had just returned after four
weeks absence IN Washington. "You ought to be-
lieve what gentleman says" he said, with his
good-natured vehemence, 'and I tell you know
nothing about It," Mr. orion said he would be
happy to give any Information in his possession to
the HERALD. but declared that he had not heard OF
any corner, and II there was one he did not know
1t. "You nave brought me the first Information
that there was such a thing as corner"
he told the reporter. "Pm not interested in
any corner IN any way shape or manner
1 am glad to see people appreciate the value Of
Western Union stock / have been working hard
for the last seven years to make 1t valuable and 1t
Is, OF course, gratifying to me to see that my
iabors have been attended with success"
o M Of fa she aon e4s
corner or any intention OF corner. believe the
stock in its intrinsic value, Is worth all 1T Is sell
ing for, ana good deal more. The Western Union
is the only corporation the securities In which are
dealt in at the Stock Exchange that is decreasing
its stock and debt and increasing its business and
property The company have bought and paid for,
at prices ranging IRON 40 to So some eleven
millions OF their own stock. Their debt to-day
does not exceed one and hall million dollars. Ia
q conversation which l had with Mr.. James
H. Banker he stated to m. me , that the com.
ON an average ST. 40o0 900 per annum, or So 900
OF the money belonging to the stockholders in ex.
tending their lines and increasing their property.
II you take the amount Of money paid In canceng
their stock and the money paid IN extending their
lines you have total Of slo,ooo.ooo which belongs
.My impressions are that Commodore Vanderbilt
and few gentlemen associated with him own
and that some day within the next six mon tbs
this stock will sell very much higner-twenty to
one hundred per cent-than 1t does now. Ny i'm
preston is that he owns stock enough to control
of or that believe In az the present prices. West
ern Union Is az present speciality In three four
houses, and the Commodore Is at the back OF them
Spectators sell enough shsrt they may find
some afternoon that there Is not
enough to go round. 1t Is reported that
Jay Gould is short OF western union but he maybe
short in one ONCE and long In another. He Is
pretty likely to take care OF himself under any cir
cumstances.
at is reported that the majority Of the o1cers Of
rnent. In the end II will make no difference. for
those who oppose IL will have 60 take pack seat.
l believe that the property 10 worth from 100 to
$50, and that the government Will eventually buy
it on a basis which the company can earn SIX per
cent on. II the company earn 5000, 600 net IL
would he $780, 900. The present gross receipts
are about 1000 ocO and the present net receipts
ought TO be at least - 500 600 At the rate Of SIX
per cent this would make the amount which the
government ought TO pay 375,0OO,00o. In Europe
al the governments have purchased the telegraph
two. AS regards the movement In Western Union
think II 1t falls OF little IL Is good purchase,
perhaps, at the present price; II you hold 1t per-
haps IL will not go down at ALL"