The New York herald., 1877-02-13
THE OCEAN CABLE QUARREL.

THREATENING SAN INTERNECINE WAR''--THR
DIRECT WILL NOT ENCOURAGE A MONOPOLY
AND REFUSES TO JOIN WITH THE ANGLO
AMERICANA VERY STORMY SESSION.
LONDON, Feb IL, 1877.
The Times money article Of Saturday, February 10,
referring to meeting of tho AngIo-American Cablo
Company. says
In connection with tho meeting of the stockhold.
crs Of tho American Telegraph Company, held
to-day, II Is worth calling attention the distinct
threat uttered by the chairman against the Direct
Cable Company that he ana his Board determined
10 institute what he called IAN internccine war''
IN the weaker won't to the wall should
the attempt now being made by tho Globe
Telegraph and Trust Company party to de stroy the
Direct Cable Company all. He was frank enough
TO tell the shareholders that this might be ycry
costly but mono the less II is the determination of his
board 10 have no rival If fight could destroy that
rival
THE AxGLoAMERIcAx COMPANY
The following is report of the Anglo American
Cable Companys meeting, from the Times OF Saturday.
the 10th nst.:-
The ordinary general meeting of the Anglo.American
Telegraph Company u.lmitcd) was held yesterday at
the City Terminus Hotel. viscount Monck, tho chair
man. presiding The report, an abstract Of which has
appeared in the Times taken read. The chair
nan its ADOPTION briefly alluded 10 tho great
depression OF trade about which there had been
so much said at other meetings Their own
business was not less sensitive to the effects OF the de.
preston than other modes OF employing capital, but,
Notwithstanding the fact there had been transacted
during the last year large business telcgraphy
company, however, had not obtained, as tho share
holders had felt in their dividend tho full amount Of
The business fact attributable TO the OF a
competitive company. when, OF course, by carrying
portion OF tho business had to that extent deprived
OF meeting competitive rival in the field would be
carry on what he might call sort OF "internecine
war; with him till they had brought him
to such condition as would induce him to an
amicable Arrangement such course, however,
would involve certain loss OF revenue both compa-
Mes and having the fact before their minds they de-
arriving at an amica6lc arrangement with their COM
petitOrs before they 'drcw the sword and embarked
In q hostile competition with hun.
TRYING To EFFECT AN ARRANGEMENT.
ITO show the anxiety OF the directors not embark
In any hostile competition with the Direct Cable Gem
pany soon as that company had begun work he
though representing the senior company requested
interview with the chairman Of the Direct Cable Com
pany and asked If they could not TO some terms
enabling them both TO i've without cxpending tho
capital money Of their shareholders hostile
competition The proposition was repudiatcd, but no
was bound to say (hc spoke from memory, but hts
memory was pretty correctly that It was not repudlaed
on the grounds by which the proposition OF the Globe
com pany mct-namely, that they could not do II.
CAN'T
Tho chairman OF the Direct Cable Company mot him
with point blank refusal to do what proposcd but
be did not tell him that IT was impossible. That was
subsequently discovered. This point, however, was
be decided by OF law, and the directors
had como to the conclusion that they should wait and
SEQ how tho question decided before tncy adopted
any alteration IN their policy. He had heard II said
that the Globo company was only tho "creaturc" OF
thls company in these transactions. Tho Gobc com.
P"hN, HoWcScI was uteTestcu tuls CouipHuy tHo
sxicnt OF f1, 900, over seventh part Of their
whole capital, and they were also largely IN
.erested the Direct Cable Company. IL was.
therefore, obvious 10 any one that the contest
etwcen those companies, in both OF which the Globe
company Was deeply Interested, must be prciudcia
10 the interests OF that company and therefore IL
Iheir duty TO prevent it, That, then, explained the
course pursued BY the Globe company IN tns matter.
rhe meeting OF what occurred last week at
The meeting OF the Direct Cable Company Thcy
thought, Ia pursuance OF tho which they had
hitherto held (which he hoped the meeting would con-
bidcr wise and just that II would be better to hold
their hands and ascertain whether the attempt Of tho
Globe company to bring them into an amicabc ar
rangcmcnt would succeed not and at the earliest
possible moment the directors would take whatever
steps most calculated 10 further the real interests
oil the shareholders.
REPAIRING TmY BROKEN CABLES
Turning TO the accounts he said they had been made
out as on the last and previous occasion, and the
shareholders could make their comparisons AS
petition this year to repair the cable of 1865 Tho
cable OF 1865 was recently broken but in very shallow
water and he believed the break was Gamble of cag
repair The repair Oi these cables and the consc-
qucnt Information they would obtain would be OF the
highest interest," not only to themselves but to all pro.
priciors of telegraph cables. rho great difficulty
which they haa all had hitherto was their nb-
concerned Of the length OF time on
which they might calculate the service OF any given
cabc Tue state OF these cables whom they were akcn
az would 50 tar to remove that gnorancr ana II woud
enable i, IN great degree ccononiizc with rel
ercncc the necessity Tor iuturo restoration and re-
Iair
ADorrED
Sir D. Gooch, NJ r.. director, sccoudcd the adoption