The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1877-08-22
NEW YORK.
The Telegraph Companies Agres.

NEW YORK, Aug 21.-It is circumStantially
stated that at meeting of the committees of
the Western Union and Atlantic & Pacific tel
egraph companies last night, an agreement was
reached at late hour, substantially as follows:
Keene & Sage are to turn over II, 900 shares of
Atlantic & Pacific stock at 25 to William 81.
Vanderbilt as trustee for the Western Union
Company Vanderbilt, in return. is to give
them an equivalent in stock of the Western
Union at r.. The two companies are to con-
tnue to carry on business and all outstanding
contracts are to be fulfilled. but the earnings Of
both are to be pooled, and the Atlantic & Pa
amount, the Western Union retaining seven
Fights. The country ia to be re.dstricted, su-
perfluous Telegram offices to be consolidated,
and rates are to be raised to the old standard
1t is generally believed on the street that the
agreement was virtually arrived at on the first
day. The hitch was in regard to the percen-
tage which the Atlantic and Pacific should re-
ceive.
There is some talk among the stockholders,
of attempting legal proceedings to stop the
transfer, on the ground Of COLLISION and fraud.
Special Despatch to the Boston Journal)
There is much talk in the street today in con-
sequence of the fact that representatives of the
Western Union and the Atlantic and Paci fic
Telegraph Companies actually made bargain
for pooling earnings at a meeting held in W. 81.
Vanderbilt's parlors last night The train from
Saratogs contributed largely to the Importance
of the result of the negotiations, being recog-
nized by the capitalists who have been sojourn-
Gould's old partner, appeared upon the scene
as the representative of the great Saratoga
bulls. 1t was generally understood that he had
returned to the city to post his associates accu-
rately as to the result of the meeting. Jay
Gould put in an appearance early in the even
ing and lodged about among the stock opera
tors, holding short conversations with his friends
and mapping out the moves for the settlement
with the members of the committee. Jay
Gould sent up a card to Mr. Vanderbilt and In
few moments the latter responded. A short
consultation was held and Mr.. Vanderbilt re-
turned, merely saying that SO far very little had
been accomplished.
A buzz of excitement was created somewhat
later in the evening by rumor that it had
been proposed to divide the 81, 000,0 900 of stock
in the Western Union treasury as dividend
after setting apyrt enough to pay Sage and
Keene for their block of Atlantic and Pacific.
At II o'clock it was announced that settle
ment had been completed. President Orion of
questions said the arrangement between
Western Union and Atlantic and Pacific has
been contaminated. Nothing was said about
purchase of stock at the meeting, but the affair
has been settled by pooling earnings. Jay
Gould said, 1.-THE diffe .ences have been settled
and the companies will work in harmony"
A Striker i'm Journalism.
Donahue. the Erie striker, whose term of i'm
prisonment expired tonight, announces his in
tention to start weekly in this city to be
devoted to the interests of the workingmen of
the United States. 1t will be named the
STRIKER" and the first number issued this
week.
BUFFALO, Aug. 21.-A grand public recep-
ton was given to the delegates Of the Triennial
Convention of the General Grand Chapter
Royal Arch Masons of the United States, this
afternoon, after which the General Grand Arch
Chapter entered upon busin ess.
In General
The shipping merchants say the prospects
are good for the fall export trade by sailing
vessels. and American vessels will get their
fair share at paying rates.
Archbishop Bailey of Baltomore, returned
from Europe per steamer Russia. Sir Tolton
Sykes was also passenger.
Chas. J. Reed. a substitute letter carrier, was
arrested for embeZzing money letters.
John Mooney Was nearly killed by James
Moore last night, because as the assailant says,
his wife by circulating reports about him. John
Murphy held Mooney while Moore stabbed
him six or seven times
The Sun says that w. j. Lyons, Vica Presi-
dent of zhe Atlantic & Pacific Telegraph Co.,
will, in conjunction with other stockho lders
make immediate application to the courts to
restrain the officers both telegraph companies
from further execution of the pending contract
signed Monday night.
The Sun says tha3 Frank B. Carpenter, the
artist, sold bis picture of Signing the Procla-
nation of Emancipation to wealthy lady, a
warm admires of Mr. Lincoln, who, it is said,
purposes to present the picture to the govern
ment tor permanent exhibition in the national
capital. The price paid was 100000.