New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-10-14
WESTERN UNION TELEGRAPH COMPANY.

ANNUAL REPORT OF PRESIDENT ORTON-INCREAsE
IN MESSAGES AND RECEIPTS-FINANC1AL CONDI-
TION-THE CABLE TARIFF
The annual meeting of the Western Union
Telegraph Company held yesterday. and President
Oron submitted his report for the fiscal year ending
June 80 1875. 1t very long, but the following are
the principal points:
The gross receipts for the from all sources except
proceeds Of bonds were ~ 90 e GrS eH
being profit All paid rental for leased lines
S ARE fde sda ISaf ero x a the
receipts Of 1901 81 decrease in the expenses OF
Si203l9 o. and an increase III tue net pfont oi
There we're in operation at the end Of the year $50
miles Of line, 1924 miles of wire, and toto offices
The number OF messages transmitted during was
I7I5371O being an increase of s2445i over the pre-
The capital stock Of the Company is sl1 O7341O, of
s7Ss5'9S5 The difference $50 7s7475. is the amount
Of the capital stock outstanding inc bonded dept OF me
81 49s 600 in the per gold building bonds, and
s144s,9oo in per cent currency bonds which mature
falling due in November, bonds have been issued,
which VIZ a amount 70 y c snm a 900 @ be
applied far has not been done already, to the re-
mature SoS St neat and the balance $500 202 will 20
10 income account When pending transactions are com
seven per cent gold dollar building bonds duo 400 nm On
MAY asr cent sterling bonds due March j. 1900 1901 i6S GO
pei currency bonds due May l. 1900 100000 90
ACKNOWLEDGEMENTS. .s6,499 100 90
U
Trust Company trustees ol'Soo w
Total funded debt 800 90
hss been applied as follows For four quarterly dyi-
bends Of per cent each on capital stock oustandlng
o1 interest Of t Un b PSs's is making Of
S3l26,6ss Is, and leaving surplus for the year OF
The capital stock Of the International Ocean TeIs,
graph COMPANY is 81 100000 reprcss,e9ted by $500
rate OF IS cent per annum and 5000 shares Of e0 6c
of he feYrpd sfO
stock. Total S97s4O0.
The operations OF the Ocean Telegraph Company for
the year ending 80 1879 have been follows Re
ceipts, S29s 1880 SO ordinary expenses ssl9ls %
SlS5.06s SO; and a net profit OF 3s64 30.
The steamer MoIse within short time mas S Was
ire construction of which OF the objects of Pres
d,nt OTtOn's visit TO Europe some time ago.
The number Of Geographic money orders received dur
ing the year was "a $50. The amount transferred
the d,gD SS VIA 90 n e Ine an e
received during the preceding year of 965S9 d.
From 1867 to 1875 the extent of line has increased
from 1920 TO 2s@3 miles. and the wires from go
60 1928 miles being an increase OF 81 per cent O line
and 10 per cent OF wire The number of offices and sta
tons has increased from 1908 TO $500 equal TO l56 per
cent. During the time the number OF messages
transmitted has increased 1872 cent the rate of tolls
Increased As per cent The average per message
during the time has been reduced from 81 to 81
in the number OF messages transmitted annually, while
the mileage of wire has increased only 10 per cent is
united per mile Of wire has been increased Al per cent
ability make increase IN the carrying
capacity the wires is due in part to improvement III
their cOnducvity and insulation and in part 10 the in
PRODUCTION OF the duplex and quadrupcx apparatus, by
of which ono wire Is made TO 90 the ordinary WORK
VI two three, four wires.
Referring To the tariff tine report that general
change has been made in rates during tie
In February last pursuant TO previous public announce
Telegraph Company, between Boston, Albany, and ash
ingtOn and intermediate stations, were reduced 10 u
uniform of 20 cents. A corresponding reduction
was made by this company, which took e1ect on the
same day The reduced rates. after having been IN oper
afip abb : L
restored The fact tha al the end of nine wears during
which time number Of has increased 1872
per cent and the cost message has been Ie
duced A. per cent, costs this company
~ cents per message for more than 17000O0O mes
sgcs must be accepted conclusive proof that com
pany possessing small facilities compared WIN ours eau
realize profit from transmitting messages al the rate
pact year for operators ana messengers wdges MAS an
average of 81 cents per message ana the repair ana
Western Union Company derives no profit from the
transmission of messages at the rate OF 20 cents even
within the short distance Of % miles which Is the limit
The report discaims gil control over the tariff charged
by the Ango-AmericBn Company. President OrOn
states that when the tariff raised recently he en-
deayOred have IL reduced but the managers OF the
Cable Company declined the ground that the revenue
a reduced rates had proved entirely inadequate TO
insure the permanent maintenance OF the cables and me
expense operating them and afford the propretors any
return upon their investment.
The ckhodcrs then cast their for directors,
the only change in the ticket being in the substitution OF
the name of John Duff formerly of the Atlantic and Pa
cifc Telegraphic Company for that OF George H. Mum
ford, deceased The following members compose the
Board: william orion James II. Banker Alonzo B. Cor
nell Harrison DuTkce, NOTvin Green, Joseph liaTker,
Edwin d. Morgan Augustus schell W. X. Thorn G. Van
derbit Frank Work Chester " Chaplin; Wilson g. Hunt,
David Jones, G. Livingston, James Mken, John DUN,
Levi 7. Morton o. II. Palmer. Geo. NJ Pullman, i. s.
Sanford John steward, Moses Taylor, Daniel Torrance,
W. H. Vanderbilt W. b. Nermye T.. \. Wesley, d. o.
Mills, L. d. Worcester During the day rumor was
started the stock Exchange that the Company had
decided 10 sell 10000 shares of stock the proceeds 10 de
fray the cost of new line This story was pronounced
false.
crrrrS IcITSsT THE CITY