The New York herald., 1876-10-12
WESTERN UNION.

ANNUAL REPORT OF TIE PRESIDENT OF TIL
coMPANY-Irs FINANCIAL CONDITION AVE
PROSPECTS
The President OF the Western Union Telegraph Com.
panv rendered TO the stockholders his annual
port, from which the following figures touching iu
financial the past year taken. Ths
rcpor, The fiscal year ending June 30, 1876
Tho gross receipts for the year. from all sources,
were So 034 9s3 CO. the gross expenses So Co.
aud the earnings, 81, 399, 500 81. As compared
with the preceding year there was an increase OF
S47o 400 o. or 10 per cent in the gross receipts;
$500 o5s 92 or 5l0 per Ia the gross expenses
and $40 $50 IA 2-10 per cent in the net profits.
On The lst day OF July, 1875. the company operated
~ s33 miles OF nc 49, 495 miles OF wire and 656s
Offices Al the close OF the year ended Juno 80, 1875
there were in operation 49, 52 miles of line, ls3S3
miles OF wire and 7,0I2 Offices The increase during
the year has 69s miles of line, or ol0 per cent
T. 337 miles OF wire, 4-10 per cont, and t07 ofcea
or 40 per cent
Since the close OF the year tho company has acquired
by purchase the lines OF the Southern ane
Atlantic Telegraph Company, embracing 2,S29 nilea
of line s. 77s miles OF and lo5 offices, and the
American Telegraph Company OF Michigan, possessing
430 miles OF llne and AZ oinces-
Arrangements during tho year were also made for
exclusive connection with the wires Of the Delaware
and Hudson Canal Company, Ulster and Delaware
Railroad Company. Rhinebeck and Connectisus RaiL
southern Railroad Company and Lake ontario lsaiL
road Company. -
There the lines OF the company Al
the close Of tho nscal year 437 sets OF instruments
for reading by sound Is printing instruments. LIS
recording instruments, 1l.iol relay magnets II, sos
transmitting Keys 253 rcpeaters 1873 swiichboards,
Alb cuioas, 32ol lightning arresters and 80 Slo coils
OF battery.
year sa5,4oo H. all OF which was charged TO work.
There were expended for repairs Of limo $685. SAT 81
lf.rra str tlOn n
penditure for maintenance OF limo OF $3.50 626 81, 40
increase over the previous year OF sl22 o49 Is
The numner OF messages transmitted during the
year ended June 3o 1885, 7,153 TO- and Tor the
year ended June 80 1875, ls 72o 56 being increase
reports sent, reduced messages the basis OF
thirty words TO each message. The average tolls COL
1875 was 81 cents The average cost OF TRANSMISSION SIS
cents and the average profit per message ~ cents;
while for the ended June 80 last the average tolls
10 cents average cost 81 5l0 cents and
| age profit IL 4-10 cents.
The capital stock Of the company is SAL 073. 41o OF
| which the company owns and has In tho treasury
$7272 235 The difference, $33 sol 175 IS the amount
outstanding, which has been increased $l3 700 during
the year by the Of 137 shares exchange for tho
| stock OF companies leased to the Western Union
which have portion OF capital still outstanding, Oh
which interest is paid as rental
Tho total funded debt Ol the company, after de-
Quoting the amount Of credit aScrung from tho sink
ing fund and its interest, amounted to $685. 119 35
| From the net profits Of tho year the sum o
81. 399 500 81 has been disbLrscd foliows:-Fol
three dividends OF two per cent and one OF and
sinking iunds the sum OF So ass. GOT 0S was appro
prated leaving surplus for the year OF $941 502 50
From this surplus 1921 ooi As had been expended 10
the year OF $3sob0l 46 or this balance S3s SO 81
was employed in the payment Of liabilities incurred
An Exhaustive exhibit Of the PROFITS and dsburss-
Of the company from the date of It's consohda
amount Of s275 s57 "a until tho present time, shows
SIS, 10 SOC 40.
ISrxRSArIoxAL rELEoRApH COMPANY
The capital stock Of the International Ocean Tele.
graph Company is 81, 500 ooo OF which the Western
Ocean company the rest The funded debt Of sne
company is $sO7, ,6s2; OF which $71 624 has been
$3l62 "a; expenses $9 452 TO- leaving $500 S23 9S
proats to which, II the surplus S66579 81 be added,
aSa sarsas % Of waes o d' ~ h
various accounts Of dividends, scrip redeemed N poe
chased, interest on bonds, scrip and sinking iund.
the steamer Professor Morse and the construction OF
land lines Tho OF SOS, ,S4S o. account Of the
Key West and Puna Rassa cable is payable out OF the
profits OF the current six months.
In April last one OF the cables between Key YWcst
ana Havana which had failed entirely several months
before thoroughly repaired by the substitution OF
piece Of new aud larger cable for the inuty portion
removed and the International Ocean Telegraph Cons
pany now has two perfect cables extending from Puus1
Rassa TO Key West and thence to Havana. The lAno
lines In Florida have also been put moro cfttc@ni
condition, and the company is better prepared t1aa
ever before to handle promptly Its improving trafnc
REDUCTION OF ME sAGR RATES
The decrease in the average tolls during the past
compared
cents per message, or 8 clio per cent upon the
tire traffic OF the company.
The average decrease of rates during the preceding
ten years 6-l9 per cent per annum, which
shows that the decrease last was one cent less
than the average
During the past ten years the annual average In.
crease In the number of messages transmitted by the
company has been - $40 cent, while the increase
in the mileage OF wire has been $40 per cent xnl
the reduction in the rates clio per cent
1t follows, apparently. that the increase In the trait
c is proportional TO, andsab0ut equally to, tho
increased facilities and the reduction in rates.
MONEY TRANSFER SERVICE.
The number OF tclegraphic money orders received
thereby was 81 623 904 IL, tho accruing
TO tho company was s996s7 SO, being increase
tho received during tho preceding year ot
$l2 AIS 40, or about IA d per cent
The increase in the number of transfers about
OF per cent and the average amount transferred IN
cedng year.
PNEUMATIC rUBEs
During the past year the central Office in New York
has been connected with the branch Offices at No k
Broad street, No. 13l Pearl street the Cotton Ex
change by pneumatic tubes The tubes are made OF
brass. each two and one-quarter inches internal d.
amecr and thrcecighhs OF an inch thick, and laid
under the pavements in the streets at depth OF three
feet
Messages from the central Office to the sew.
erai branch Offices by compressed afr and from the
branch Offices to the central Office by atmosphere
pressure vacuum. Tho motive power Is furnished
by 90 horse power duplex engine situated IN Tho
basement OF tho central Office, which operates two
double acting pumps comm catng with tho com.
pressed and vacuum mains terminating in the operat
ing room. These connected to the tubes extend.
Ing under the streets by Of double slucs
valves which constructed that carriers contain.
ing messages may be sent through the tnbcs in either
direction by turning cock connected with com.
pressed or exhaust arr main.
Tho operation OF the pneumatic power is very
factory and tho cost OF the whole system Is less than
$4,000
GENERAL REVIEW.
Since tho organization OF tho Western Union Com.
pany in July 1866 increased It's lines from 81 $50
miles Is 532 miles; from rs. $50 TO 1S3, s32
miles It's Offices from Z, $50 to 1912 and tho number
OF messages transmitted annually from 8. 800 2Sl to
1s 567 while at the time the average toll pcI
message mas been reduced from 81 O5 u
so g-lOO cents and the average cost O,
performing the service from 81 cents "a
SO I3 cents per message. The mileage has been in.
creased 90 per cont the mileage wire 142 per cent
the number OF offices 2l4 per and tho number oi
messages annually transmitted 2l9 per cent and the