The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1877-08-23

The w. U. and A. K r. Telegraph Cem-
panies Effect q Compromise-Rases
% be Raised % the Old Standard.
NEw YORK, August 2l.-The Times,
says that the terms Of the agreement be-
tween the Western Union and the Atlantic
& Pacific committees, are as follows: Keens
4 Sage are turn over 1000 shares OF At
lantic & Pacific stock at SIS per share, to
VIM. ii. Vanderbilt as trustee for the IVES
tern Union Company. Vanderbilt, in re-
turn, is to give them an equivalent in stock
Of the Western Union Company at So per
share. The two companies are to continue
to carry on business, and all outstanding
contracts are to be fulfilled, but the earn
ings OF both are to be pooled and the Allan
tic K Pacific to receive
oSE-EIGHTH OF THE GROSS AMOUNT.
the Western Union retaining the remaining
seven-eighths. The country is to be re-
districted superhuous telegraph offices are
to be consolidated and rates are to be raised
to the old standard The form of the con-
tract entered into, is based on the pooling
uStd thC blItCt dIlI -tIgit-
American Cable Companies The hitch
was in regard TO the per centage which the
Atlantic K Pacific should receive 1t was
settled on basis of per cent.
The Proportion Of the Pool.
NEW YORK, August 2l.-President Or
ton to-day said that the Western Union
Telegraph company would receive s74 per
cent, and the Atlantic & Pacific l21 per
cent. of the grost earnings and pooled re-
oeipts OF both companies. The arrange
ment went into effect this forenoon.
The written contract agreed upon will
not be given to the public, because it con-
tains many details which do not concern
the public. The Western Union and the
Atlantic and Pacific companies are now
practically one company. They will still
be run As two companies, each retaining its
old officers and general organization, but
all profits resulting from their telegraph
ing, will be pooled. This arrangement will
last for
TWENTY YEARS,
and this is the whole arrangement, private
details excepted, of course 1t follows that
the rates will be advanced, but they will be
advanced only so far as shall secure a fair
profit to the companies. We have bought
majority of the Atlantic 4 Pacific stock
between 1000 and 1000 shares. The
Atlantic 4 Pacific company is now fully
under the control of the Western Union
Company.
GREAT SATISFACTION
is felt and expressed BY the latter company.
A prominent Western Union director be-
lieved the rates would be only slightly ad-
vanced, the company desired to act equita-
bly, and moderately; twenty-five cents for
Geographic dispatch to Omaha was todG
low, no company could afford to send mes
sages to points so distant at that price, but
the directors intended to make but small
advance in their chages.
A MEETING
OF the Executive Committee of the Western
Union Company this morning ratified, in
full, the proceedings of the joint convention
last night, and the contract made by that
committee was placed on the records.
Heretofore it has cost the companies from
sixty to seventy per centum to carry on
their business, but it is now believed that
by virtue Of the new arrangements the ex-
penses will be reduced to fifty per centum.