The New York herald., 1875-08-31
NO MONOPOLY OF 7ELEGRAPHS.
The Atlantic and Pacific Wires Not Yet Trans
ferred to the Western Union.
A LEGAL PROVISION IN THE WAY
President Cohen, of the National Telegraph
Company, on His Way East to
Bid for the Line.


No actual transfer has yet made of the lines OF
the Atlantic and Pacific Telegraph Company TO the
Western Union, such transfer be made until
September 10 The ehort depreciate the value and
importance Of the Atlantic and Pacific Telegraph Com
pany for the purpose of inducing the stockholders to
accept such consideration the Western Union people
please to pay for the lines is likely to fall through The
Atlantic and Pacific lines working well, and there Ia
still probability that the National Telegraph Company,
recently organized in California will become the own
ers or essees thereof Mr. A. A. Cohen gentle
man OF wealth position in San Francisco,
and the President OF that company Is now
ON his way here to buy the Atlantic and
Pacific Company's lines. He Is prepared TO
make such terms as will be agreeable 10 all
parties interested and the National Company promises
that the tariff will then be reduced between San Fran.
cisco and New York to 81 per ten words and under,
and Is cents additional per word after words The
tariff Is 81 90 for ten words and IL per word
after ten words. Should the Western Union Company
succeed in getting control of the Atlantic and Pacific
lines It is understood the will be raised to $5 per
words and IS cents per word after ten words The
Western Union managers trying to make the public
and the stockholders of the Atlantic and Pacific Com.
pany believe that the National Telegraph Company Is
myth; but the story will not hold good The National
capital OF s25 OOO OOo incorporated under the
of the State. The following is the certificate Of the
Secretary of State giving the terms of incorporation
and showing that the provisions of the civil code Of the
State have been fully complied with
STATE CALIFORNIA, DEPARTMENT STATE
SAcRAMENTo, July o 1875.
py Msleps Secretary Of the state "a Of California do
% es s In 9Th ' ag the the
ias-Tha the of the corporation is the National
steondTha the purpose for which is formed is the
the cities Of the United Staten stStes and canadn
is the city and Of San Francisco Cali
Foar-The term for which it is to exist fifty years
fhe number of It's directors or trustees seven and
until the election and qualification Of others Michael
Ess as ss as so o9n VI Ggg
Francisco Faxon D. Atherton residence Mateo county;
rae
sirthThe Of its capital stock SOS 10000 and
the number Of shares INTO which il is divided is
s75ooooo being 500 each and mile of said
templated telegraph lines
Also the following other facts:-
That the kind of line intended to be constructed
common telegraph line
tended to run is San Francisco and New York and il in
tended connect with these lines all the principal cities OF
Third-That the estimated length Of the lines is 5000
Fe-That at least ten cent Of the capital stock sub
that the persons above directors
and their associates and assigns body polite and
porate by tho name above designated.
Witness hand and the seal of the State Office In
'''y OF pStRY 1ELoSf sseIssa a
An Affirmative vote Of three-fourth Of the stock
holders OF the Atlantic and Pacific Company will be
necessary to carry into effect the plan suggested by tho
Western Union committee last Tuesday, and the law
requires thirty days advertising TO the stockholders
before lease or sale can be effected The Conference
Committee consisted of Ex-Governor Morgan, Mr..
Durkee and Mr. Frank Worth, the part of the West
ern Union Teegraphc Company, and Messrs. Sidney
j. A.
Pacific Telegraphic Company Mr. Syms objected u
the propositions made by the Western Union
managers, which were follows:-That the
Western Union Company should take the lines
of the Atlantic and Pacific Company and pay
for them 81 500 600 rs per cent of this to be paid
in cash. the rest remaining interest at the rate of
per cent Mr. Syms is the First Vice President of the
Atlantic and Pacific Company and thinks they gei
more money for their property. The Western Union
managers have given The public to understand that the
National Company does exist, but dispatches from
San Francisco that upon Mr. Cohen arrival here he
will prove that does exist and rich developments
are expected Mr. Orton is too shrewd nancier to talk
He Is playing for large stake, and, with Jay
Gould at his back, he expects to get it
but remains to be whether his tact Mr. Cohen
money will win the day In regard to the Atlantic and
Pacific Telegraph Company dividends have evei
been paid by the Western Union. When the line wai
absorbed by that monopoly its managers agreed give
the Pacific and Atlantic ockhoders and half per
cent of the net earnings OF the lines but penny of it
has yet been paid and the given by the
Western Union is that the lines OF tho Atlantic
and Pacific in such bad condition that they had
der If they should get the Atlantic and Pacific lines
what will they make for not paying the
per cent interest the deferred purchase prceS For
is well known fact that the lines OF the Atlantic
and Pacific Company are in as good condition AZ
those of the great monopoly. The National Com
pany have made bona dc offer to buy the wires of the
Atlantic and Pacific Company or the controlling Interest
in the company; and it furthermore Offers to duplicate
tho wires of the Western Union Company they
can be built The Conference Committee ON the Wes-
tern Union Companys side hurryng up this matter
fast they because they wish to gobbe up the
limo before Mr. Cohen get here, but the legal re-
qurement OF thirty days. advertising blocks the game,
and Mr. Orton may yet find that the Western Union
cannot control all the wires in the country Those
interested in the Western Union trying hard Ia
the idea that the Atlantic and Pacific Company
insovent but the facts do not Justify the statement
II has been dong good business all along has built
lines from Philadelphia TO Pittsburg and from
Buffalo TO Niagara Falls and they all in good
dition. At the meeting OF the Joint Committee held
last Tuesday 1t well understood that Mr. Cohen
on his way here to endeavor to amagamae the Atlantic
and Pacific with his own association and this move
the part of the Western Union is simply piece OF
strategy 10 capture the Atlantic and Pacific lines before
Mr. Cohen get his proposition fairly placed before
the officers and stockholders Of the Atlantic and Pacific
Company Much Indignation is felt in regard to the
matter and Mr. Syms that he will not allow the
bylaws OF his company TO be thrown aside but will
that they carried out to the letter. and So at least
for few days, the Atlantic and Pacific Company viii
still exist as corporation
LARGE FIRE IN WESTCHESTER.