New-York tribune., 1875-10-08
THE NEW TELEGRAPH COMPANY.


STATEMENTS OF PRESIDENT COHEN or The NA1IoNN
TELEGRAPH CONPANY-CAPITAL 30 THE AMOUNT
OF $50 900 PAID IN-PAsT NEGOTIATIONS WITH
THE ATLANTIC AND Pacific CoMPANY-woEk
TO BE BEGUN N THE sPRING-A CONSTRUCTIONS
BUREAU N NEw-YORK.
Alfred A. Cohen of San Francisco, Cal,
President Of the National Telegraph Company Is now IN
this city In response TO inquiries last evening MI
Cohen said his Company had been formed with capital
stock OF S25, 900 COO of which ~7JOOOO had "en lad
in The incorpordtOIs were william sharon, Michae'
Reese James r. Reeve, William Bullinc
j. ID. Athcrton, c, NJ. kellogg, aud Alfred
A. Cohen. These gentlemen were al! residents
of the Pacific coast, but as soon a. the enter
prse was thoroughly under way it expected that
there would he a good representation from The Leal,
number Of capitalists having signfcd their desire to par
tcipate The Company has been formed for the purpose
of building aud operating system of telegraph
lines in the United States and the Cdn&dis
The plan formed = considerable umc ago
and the first steps taken recently IN the organza
ton OF the Company under the laws Of California.
II been the intention 10 have accomplished some
thing the shape Of practical work this FAIL but the
troubles the Pacific coast growing ont OF the suspen
sion OF the Bank OF California and other Institutions,
disaanged matters for the time, and compelled tie de-
ferring Of any attempt to put the sch'me into cXccu
ton
Mr Cohen when asked why it would not be more dc
srable TO purchase controlling interest in
an established line with secured business,
like the Western Union Telegraph Company, replied
that be had the highest regard for the western Union
Telegraph Company He did not believe that better man
ayers than that Company possessed at the present time
rould be found anywhere. Yet while testilyng TO TIE
worth and ability Of the officers he found fault with The
,ystem upon which The Company administered. Tel
egraphy had not reached its Legitimate eld aud would
not until II became popular fOr the transmission
of Intelligence between the people. At present II
wassn expensive commercial necessity not used until cir
euustanccs compelled. TcleHaphy should take ihc place
Of the Office and De- 10 the masses % the people
what the cheap postal stem now > at least something
akin TO II. The Western tni0n Telegraph company hal
been of great uubic utility and deserved the waTmc>t
Communications Of those whom n had served Iut the
question Of buying controlling Interest IN " was
serious one which must he :aiIly considered. To get
controlling interest in the stock the purchasers would
have buying al about 80 and ir all the WAY ny
10 30 or perhaps higher TIC actual purchases wolh
involve expenditure OF about S3OOOObo. Iht va
tail OF equipment Of the Western Union Company az -
per OF the sum which that Company has eNpcded
Wherever ts practicable existing lines VIII oc uileh
hy National Company bat no line VIII Dc accepted rs
the system which J. not essentially under Tue
control of the National Company. Some time
AGO negotiations were entered INTO fOI ulc a'-
hut they did nOt result IN anything II ths
Atlantic and Pacific Company lines could pc puI'as,
a their actual value they would no doubt he " desirable
acquisition. No negotiations wci" now pehaihg ihe
intentiou Of the National Company To place con
suctiOn bureau in NeWYOTR ani arrange the prcpPIa
lions actual construction. Nothing could he accom-
plsled satisfactorily IN Winter IN the way OF cOusruc
ion and work would be deferred unn Spring bat many
the details fOI beginning the enterprise required at
t.ntun. aud taC Winter could lee pr0htably devoted 10
mis- mart of tie business The National Company, sad
intended a. an opOs line but intended to do ali the
lds noes which can he obtained foi Il.