, 1873-01-27
The EycntNll History Of Telegraph
Company.
Extent Of Its Linc..-lts Operations,
Lawsuits, Etc.
Terwiligar vs. Tho Great Western
Telegraph Company.
Stockholders Meeting to be Hold
on Tuesday.

on ItlcSutly.
Tho mooting Of tho ntockholders Of the Great
Western Telegraph Company, which is callcd by |
tho President alll Secretary for Tuesday Of tho |
present week, is a matter Of considerable inter-
eat 10 tho public generally, not mcroly from tho |
fact that tho Company proposes to 10 atrong
competitor for tho public patronage Of tho Nost~
Gil, Union Company, but also bocanse it Is tho
result Of long chancory suit, which has had It's |
run to tho Supreme Court and back, tho object |
Of which l,aa Icon to lotcrmino, II possible, tho
rights OF alocknoldcrs; while tho Influence Of
the litigation and conclusion may hayo largo |
Influence Oh many corporations Of Hike charactor'
Tle meeting which iH to occur on Tuesday is |
for tho election Of now act Of Directors, and ls |
in accordance with tho docroo Of the Circuit
Court 6f Cook County, pursuant to tho diroc-
tious Of tho Supreme Court Of this stnte as gVon
in TorwiliGcr v. 0rent Western Telegraph COM
many, In order that tho whole subject may bo
fully understood by our readers, q history OF tho
aonowi.at irregular formation Of tho Company
should 10 gison, Us vol as it's subsequent opor-
ationB aud troubles.
1t WAS in December, 1867, that selah Reoyo
and six other persons got thor honds together to
form, uuder tho not Of 1870, n corporate
company to DO Ino,on as tho Great Western
,ro1orr,nn comn,uv. THO articles of
asnoeta.io,, wan div a;.,,ca hv +hom and find
asaoc'asion "es, ou!s s1snea ~ tao" An.a tnua
n the once Oh the see'osa1y o1 o'a'U hoa .ney
etock was put at 9 0o0, 900, divided into 100000
eharen Of Sa5 each Tho corporators, bopldca
Solah Rcoye, wcre named as follows Valentino
Y. Gardner, Johu Hel, Dwight JOHNSON, and
Hasbrook Reovo, Of tho City Of Now York; and
David H. GRgo and Josiah Snow, Of Chicago.
aar1nor uo1i ,nd 1o,naon vnro 5escr;boa in
uulunvt ilali' anl ssu.aSA "o'o $500 uo $50.
Hasbrook Rooyo 100 sharos and Belah
necvo 1t7.so7 ahnros. thus making
4,ro 1oo ono s,aras r,,,a atoc1, va n,,r.p
fictitious, as no money was paid by any OF them,
aud tho stock, therefore, represented no value.
On tho 18th Of january, 1868, tho corporators
mi .na naco snow. Han Hnsbrook neovo.
mes, anu "a ano" laA pa"s1 ~ n,root
anu solah heeYo wore e.oc'eo aaoasa VI Dno's-
orB, OF Which dnRo Waa elected ItcBlaent' 6oiaA
Reeve soon after resigned, III order to enable
himself TO ,nako q contract with tho Company,
..,1:s,, ,u.a ro11,,-. Th,, 1aa,,o ,r,. y, will,
~ncn "ae ~ too"s .uat aso'a s,s.sh "as ~ pIa
2'ooo m1los OF line on foutes 10 pe oeslsnatoo W
tho Company No time for completion ,o,: Of
n,;Io nil WIN, ,ras " fxod: but lDt tho Compapv INV
-N4'o, !.t.M, ,,.;.a ,.ra,. /. roaue -,
aIeoa TO transfer m sno ens,se sseeh NO., 10 neeSo On
tho execution Of THO Agrcomont. Ihis contract
wsa made 9do on o. II tho 25th Of March, 169s Iho M
whole 100000 Shares we're nov put into tho
hands OF SNOW, VINO lad boen olecteu secretary
snd Ireasurer OF tho company IN trust Tor selah
Neeye to nol te famq a. slo 2er Hlh;aro ll; nnd to
pay the proceeds to Neovo under his contract
with tho Company Reeve Was ttbhhYo Sao0 por
mile, which sum, aH shown by evidence pro-
dslcac, vas largely IN cScess OF the cost OF con-
ssructiou. Roeso deferred, as We arc informed,
the commencement of t1e execution Of thts con
st'ot, until noney.oouid 10 1alseo 1IoM tne sue
of s;oe. ny snoy, or nis a. agen1,at: IA efaef 70
elicit tho confdence OF Tue pupoc, anu o91a!n
subscriptions anu money, taoy PROCEEDED to
elect Twenty-Five additional DIRECTORS
from amonE tno cla moss 1,.a foaAGlo ho,r.as ana
wore not stockholdorg. Then prospectus vas
under State laws and an act Of Congress for tho
purpose or clicap8ninE telesrapMo corresponds
ence III tho West; that tho stock was q, ooo,o 900,
divided into shnres of s25 Zach; and TINT, npon
OF stock for S25 would DO lHsued. and no furthoS
aesossments made
a oe f here to remark thaf psaa to
the oo I'D Beard T. had sd adopted Syavs s The rs
ono provided that tho 5lrst annual meotlng Of
tho stockholders Of tho Company should be held
within ninety dnys aftor 1900 rnileB
equipped with wires. Another bylaw provided
for the election Of now Directors whenever any
number Of shareholders holding. majority Of
dressed to tho President, for q meeting Of
shareholders for that purpose These bylaws,
being Of suoh vital Importance, woro, however,
not mentioned iu tho prospectus. It will ba
yangcmont by which Reeve could complete,
what iB now charged as an unconacionablo
contract before tho subscribers, whose money
was taken to pay him, could have IN .opportun-
the eontrol Of tho Company In tho hands Of
Ieeye and his trustee until over 100000 should