The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-02-20
CHEAP TELEGRAPHY.

THE ATLANTIC AND PACIFIC COMPANYs MEET
ING-GREAr ExPECTATIoNs-ALL RATES TO
BE CUT DowN-NEw BOARD OF DIRECTORS
very important meeting Of tho directors OF the
Atlantic and Pacific Telegraph Company held at
their Broadway Office yesterday morning The meet
ing was fully attended, owing tho general interest
felt in the contemplated changes which announced,
semi. officially. amount to entire reorganization ot
the Board. On The organization OF the meeting the
designations of the following gentlemen were rendered
ana accepted MIR. Charles J. Osborne, OF Z. q.
Osborne IL Co.; Mr.. James d. Smith, Of
jameson, Smith Getting; Mr.. William II.
Guon, Mr.. Albert B. Chandler and Mr.. $. NJ. Mills.
To NIL the vacancies thus made the following gentle
men dominated aud unanimously electcd:-
Mr. J. ". Garrett, President Baltimore and Ohio
Railroad Company; Mr. Thomas A. Scott President
Pennsylvania Central Railroad Company; Mr. II. J.
Jewctt. receiver Erie Railway Company; Commodore
&. X. Garrison, aud Mr.. James X. keene.
PRESIDENT EckERr's REPORT.
Mr. Thomas I. Eckert. President Of the Atlantic
and Pacific Telegraph Company then submitted u
strucon OF IL, 900 miles OF new lines, completing The
present system Of operated by the company
Unon Work on the man ns IN his sGI Judgments
should DO commenced Immediately, and the branch
network extending to the small towns should
be constructed afterward as rapidly as possible.
The report adopted enthusiastically and tho
work on the new lines WILL It is stated, BIO begun at
In accordance with the vote. To provide tho
snews Of war 5000 900 subscribed TO be paid INTO
the treasury Of the company by nstalmenls OF twenty
five per cent month This subscription takes up the
remaining 49, OOO 600 OF authorized stock previously
undposed Of a. the market rate oi twenty per cent OF
its face value.
REDUCTION
sweeping reduction OF rates determined upon,
but tho details left to DC perfected ut subse.
Numerous advantages will, II Ii claimed, result from
the new movement but the directors profess to
challenge comparison and competition but to conduct
thor lines independent basis In conversations
with several prominent directors the position and
claims Of the company wero substantially stated
lollows:-
They taKe the ground that the Atlantic and Pacific
Telegraph Company has been the pioneer In extending
the benefits OF cheap Geographic 10 the
public Wherever they have been in competition with
Western Union reduction of rates has been the
result. Twice already thor rates messages have
been reduced, aud the Western Union have been
forced alter contest of some length to accept the
standard set them. They propose TO Join the Atlantic
aud Pacific tho great lakes aud the Gu OF Mexico la
comprehensive electric bond.
III due regard for the just claims OF tho h0ders
shall justify the step the cities and the Union
will be placed In close communication with each other
at SO slight cost that long messages may be sent
IRON town TO town, which are now slowly delivered
by mall This sounds trIae ecsatc, but the enlhu.
siasm OF the managers and their faith such results
seem to be sincere
CHEAP MESSAGES
Exactly what reduction will be made cannot be
stated positively, and ~ has lot yet been decided
whether standard In which the distance shall govern
the rates with comparative exaciness shall DC adopted
or not me charge OF twenty-five cents per message
OF ten words between any points east OF the Mis-
ssspp and OF 81 Tor similar messages sent across the
continent mas been favorabIy considered and may be
decided upon The reductions will be made and 20
into elect within n week or two upon the lines now
under the control OF the company, without waiting
tho completion Of the new lines
LIST DIRECTORS
complete list OF the Board OF Trustees Of tho
ganzed company is appended :--Oliver Ames, Elisha
ATKINS, Benjamin r. Bates, J, W. Garrett, r. Gordon
Dexter sidney Dillon, q NJ Dodge, Thomas 4. Eckert,
Jay Gould, j. X keene G. 7. Huntington, Christopher
Mayer, H. J. Jewett, j. II. Mortimer, e. k. Garrison,
y, e sampson, Thomas A Scott, W. J. Syms, Henry