The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-08-17
ChpGrtlhqeuesr.
TIIETELEGRApII CONSOLIDA-
TION.



ncaS."
From the New York Sun, August II.
The pending negotiations between the
Western Union and Atlantic and Pacific
Telegraph Companies for harmonious
arrangement were commented on exten.
siveIy in business circles yesterdy. A
prominent merchant said, ~ am very
sorry that they propose to work together,
for high Geographic rates are severe
tar on business"
Russell Sage was at his office and
willing to talk on Saturday. lie waved
the put and call brokers out Of the room
and in response to query rs to the rca.
sons why he turned over from the side Of
the people to that Of monopoly said:
"When wentinto Atlantic and Paci.
fc | did so because | wanted to be frien.
dly with both sides. | had great deal
Of Western Union, and | found A. p. T.
was hurting it. So tried to get in and
lind out what was the matter. Jay Gould
isa very ugly man when you are opposed
to him; and, like dealing with Kicking
horse wanted to get ~ close to him as
possible. You know the horse can only,
push when he tries to kick il you are
very near him. In this case, however.
the horse was bitter and kicker, too,
Gould talked very seductively about
cheap telegraphy and extending the lines,
and the first thing knew he had sold
out the bulk OF his Atlantic and Pacific
stock. | thought it good thing to hold,
and supposed Gould would not dare to
buy Western Union us long as KeenG and
! held the control OF Atlantic and Pa
citic. In fact, he agreed not to loSd up
until we gave the word; but he went back
on his promise, and all at once he jumped
Western Union to TO-, aud left Keene and
with Atlantic and Pacific stock to keep,
and the Company torun."
"But why do You not go on and develop
Atlantic and Pacific until it breaks down
Western Union, and Gould is compelled
10 throw his stock overheard -
For the simple reason" was the reply,
that | can use my money better in other
ways, | have great deal OF cash locked
up in the stock, and there is no market
for it except at the Western Union office.
don't want 10 sink money in poles,
wires and Instruments Just now, although
keene is ready to do it. i want to get
my money back instead OF letting more
go'
Still should think your philanthropy
ic impulse would urge you on to an add.
Iionnl outlay%
NO, sirl | did not make my money by
phlanIhrophy, and it is poor thing to
mix mp with business. All | know is
this: | have $1,000 shares of the Atlantic
aud Pacific belonging TO myself and
Keene. They cost over 100000. In
some way or another | propose to get
that money back. This ia no donation
party"
What terms arc you willing to
makcY
well, it is about this: will sell tho
Atlantic and Pacific two shares for one
Of Western Union. | will agree TO lease
the Atlantic and Pacific Company 10 the
Western Union for a guarantee Of 6 per
cent upon our stock, or will make IL
harmonious working arrangement, that
l'a pooling Of earnings on the basis Of
twenty per cent to Atlantic Il Pacific
Telegraph, and eight per cent TO Western
Union. Any one oil these three plans will
mit,p
III Western Union comes into an ar
fauGcment, how high will you be willing
to put rates?'
aust AS high as Western Union wants
them. People who use the telegraph
mostly have means, and il won't make
much difference to them"
al you should dispose OF II majority OF
Atlantic and Pacific stock TO Western
uNlon, what would become of the inter.
eats Of the minority. Would you also
negotiate for them?'
81 shall negotiate for myself and
ketnc, so far as the selling OF our stock
hconCrrnCd. The others must do their
own trading.
Bat il Western Union buys a majority
OF Atlantic and Pacific from you and
kernc, the others will have no market
Tor their shares"
a cant help that. Everybody looks
out for himself down here. Who is
there to look ont for me? Nobody but
Russell Sage. Self preservation il the
brst law Of nature. Perhaps somebody
will come along by and by who will tel.
rSraph for the people for nothing, but |
don't know OF any ruch philanIhropist al
present"