The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-06-10
GmQntelIfgenrer,
The TiInidiIY Of Capital.

The Western Union Telegraph Com
pany Yesterday declared dividend Of
two per cent for the quarter ending the
3Oth OF this month, In connection with
this dividend it is announced that the
gross earnings Of the company for the
year are S05sl 900 and the net earnings
S3,l5i,OOO, while the surplus remaining
after the declaration Of the dividend
amounts to SsOOOOO. And yet, despite
this handsome showing the stock Of the
company is only quoted as 20 this morn
ing, and It's proposal few days ago to
borrow 100000 with which to retire
certain bonds coming due November lst
next, was not bid for to an extent that
met the expectations Of the company,
even at O7! cents on the dollar, This in
disposition on the part OF capitalists to
buy the stock Of a company that has
l775OO miles Of wire and upwards OF
5000 tclegraphic stations, and that has
retired over S7,OOOOOO Of its own stock,
and that is doing business OF such mag
nitude as to amount to nearly SlODOO,-
900 per annum, carries with it its
own sad comment on the speculative
morals OF the times in which We live. Ii
the monied men Of Wall street really be-
lieyed in the Western Union Telegraph
Company; ii they had faith that every.
thing was as fair and inviting underneath
its statement as on its surface, they would
not suffer its per cent stock to be made
the shuttlecock Of the market at dis.
count Of 2j cents on the dollar, Notify II
good deal. They are not such fools a4 to
pay 100 cents on the dollar for the
per cent Fourth mortgage bonds
OF the Cleveland 4 Pittsburgh Rail
road in preference to investing their
money in the stock Of u company that
would at ita present price pay them 10
per cent. And yet this il just what cap.
italists are doing to-day. More than this,
they are paying, according to yesterdays
quotations, 10 cents premium for
United States per cent gold bonds, and
% cents premium for the per cent
currency bond. Of the government. At
this extrayagant price the first named
bond, can ONLY nel the investor, even ai.
ter including the premium on his gold
interest, about ii per cent, and the latter
only about A pcr cent, and yet capital.
lists who are at Ioss to know what to do
with their money these dull times will buy
these government bonds in preference to
buying either the stock or the bonds Of the
great Western Union Telegraph Com.
pany. Why is this? The answer Is plain
enough. Capitalist. are thoroughly dis.
trusttul Of nearly every corporation whose
stock is bought and sold in Wall street,
or, for that matter, in any Of the Stock
Exchanges Of the country. They have
seen so many bubbles collapse within the
last few years, whose statements at one
time were spcciuus on paper, that they
have learned to dlstrust even those put
forth under such respectable auspices as
the signature Of VIM. Orton, President Of
the Western Union Telegraph Company
They cannot forget that about onc.hnlf Of
all our American railroads are to-day
in default on their interest, and that
the stock of some Of them, such us the
Erie. the Toledo & Wabash, the Indiana
Central, and many more that we might
mention, are in imminent danger Of be.
ingwiped out ofexistcncc.
II IL Iuo IN th, Wnstprn i'ninn TnIr.