Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-08-04
TELEGRAPHlC CENTRALISM.
The Huge Electric Monopoly that
Jay Gould is Now COncOeting-The
Vice President Of Ghe Western Union
InferEIeRed.
lew York san, July 81.

interviewed.
New York san, July 81.
Reporter-Mr. Green, Is the story
printed by the Sun this morning rela-
tive to a proposed consolidation of the
Atlantic and Pacific Telegraph Com
pany and the Western Union, correct?
Mr.. Green-I read the papers only
cursorily this morning, and cannot
fully recall the nature Of the article
You refer to.
ReporteT-The article said, in brief,
that IL was rumored that the West srn
Union was about to buy the capital
stock of the Atlantic and Pacific
$4,000, ,000-at twenty per cent, grade
1t at 81, ,OO0,0 600, and guarantee the pa Y
ment Of a seven per cent. annual divi-
dend on the S2,OOO,OO0. Is this rumor
true?
Mr.. Green No, not strictly. 1
know that leading stockholders of both
concerns, including some Of the officers
and directors, have talked the subject
over. but have yet to learn that our
company, as a company, has taken any
steps looking TO a consolidation. In
deed, such a thing would scarcely be
possible at this season. l don't believe
there are three Of our directors IN town
TODAY. Bu5 Of course the thing has
been talked over. I don't know the
basis Of agreement proposed.
Reporter-When you speak Of the
leading stockholders of the opposition,
YOU allude to Jay Gould, of course?
MIR. Green-Yes, to Jay Gould and
some others. Jay Gould is the heaviest
man Of the concern, l am told.
Reporter-Is he not a heavy holder
Of Western Union also, Mr.. Green?
Has he not been buying 1t from IS up
ward?
Mr.. Green-I suppose ne Is. nave e
no doubt hehas been buying 1t Tor a
long time. But about the balsls OF the
consolidation I can tell you aiming
1t may have been correctly stated III
the Sun this morning.
Reporter-WOuld not purchase of
the opposition line at S2,000,000 be
good thing for the Western Union, Mr..
Green?
Mr.. Green-That might be, but
then the hitch is not here. We are not as
duAAO05 " bug do AuEl uAt " SELL W Z
can afford to wait, but if all reports
are true, they cannot. When they re-
organized they employed a staff Of Off
GERS from this company at salaries
greatly IN advance of what we were
17a wing. Men that we paid $500 a
Tas7 % they engaged at $1,000, and SO
ON. then they began to canvass the
IaTga cities at a great expense, to offer
1,ab9tes on monthly bills, and to strug.
ole toward an enlargement of their
business in various ways. From all l
can learn their canyasslng was a big
outlay without corresponding income,
and the same may be said Of their ex-
nensive staff of officers. Their treas
urer says, however, that they met their
expenses last year.
Reporter-Do you think the consoli-
-datlOn Will be eventually llycynsummated!
Mr. Green-Ekely enough. But
ron SEQ the Atlantic and Pacific want
ms to buy them out at what they are
Jrorta 10 us. while we want to buy them
at what they are worth 20 themselves
Reporter-Practically, then, accord
INC to your own showing, you want tc
get the line for nothing.
MIR. Green No, not that. The
Western Union Company want to d
the telegraph business Of tins country
But we can afford to wait; we are IN nl
hurry. 1t is the losing opposition tina
are in q hurry. We want to wait unit
we can buy them in such a way as t
give a good lesson to men who Pu
their money into other telegraP
stocks,
Reporter-Win the consolidation b
.oonsummated soon!
Mr.. Green-That cannot say. a
YET nothing official has been done.