The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-08-14
LIGHTNING STOCKS.
Mr.. Russell snge's Idea OF B..iness-"ThIs IL
no Donation Party"

The pending negotiations between the
Western Union and Atlantic and Pacific Tole-
graph Companies for harmonious arrange
mcnt were commented ON extensively in bust
ness circles yesterday. A prominent merchant
said: am very sorry that they propose to
work together for high tclcgraphic rates are
severe taS on business"
Russell Sage was mt his Office and willing to
talk on Saturday. He waved the put and call
brokers out Of the ROOM and In Response 20 a
query IA to the reasons why he turned over
from the side OF the people to that OF monopoly,
said:
when I went into Atlantic md Pacific did so
because wanted to be friendly with both Sides
| had q great deal Of Western Union. and |
found \. Z. r. was hurting it. So | tried to get
in and find out what was the matter. Jay
Gould il very ugly man when you are op-
posed 10 him: and like dealing with "a kicking
horse. wanted to get rs close To- him as pos
sible You know the horse can only push whom
J." tries TO ,kieH. II you are very near HIM In
kicker too. Gould talked very srductvcly
about cheap tclegraphy and cNtendng, the
the bulk Of his Atlantic and Pacific stock.
thought 1t good thing to hol l. and supposed
Gould would not dare to buy Western Union rs
long a. krenr and held the control " Atlantc
and Pacific. In tact. he agreed not to load M
until we give the word. but lac went back On hs
10.
Union 10 70 and left Kecnr and with Atlantic
and Pacific stock to keep. and the company to
run
But why do YOU not 70 on and develop At
lnntic and Pacific until 1t breaks down Western
Union. and Gould is compelled to throw his
For the simple reason" was the reply.
. that can use my money hct"r IN other WAYS.
! have gr'nt deal of cash locked M in the
stock, ana th.r' - NO market for II except ut
thu Western Union oillrr. ! iuutwant To- sink
money in poles. wir's and Instruments iust
now. although kv'nr IT, rDiiy 10 do IT, | want
t. g.t ny money lack instead OF letting more
~" sim should think your phlanthropic i'm
pulses would urgc you on % an al iitional out
50, sir Iiilnot mako my money by phi
lHnthruuhy and II j. poor thn- to mix IN
with business. All know : this I have 81. 900
shar 81 Atlantic aud Pacific belonging To my
some vs. y or another | propose To- get that
mon.y back. This is NJ donation party"
Mhut terms are you WI Hing To make y
We'll II T. about this. Will sell the Allan
tie and racit' two -hnrcs for one Of Western
Union; VIII agree 10 leas. the Atlantic amt
ri.iil' Company To- Western Union for guar.
anige oi ~ prr cent. ~ IN 9ur stock. or | VIII
make "A harmonious working arrangement,
that Is a pooling of earn nss on the basis Of
twenty per ont. e. Atlantic and Pacific Telc-
graph. and Eighty pr cent. To- West IN Union.
ANY on uf thes. tire" plans will suit
1T Western Union comes into an arrange
mcnt how high Will you b. willing to put rats -
Just as high as Western Union wants them.
People who use the telegraph mostly have
them"
II you should dispose ~ n majority Of At
lantic and Pacific stock To- Western Union. what
v uld hecum" OF the int rests of tho minority.
Would you also negotiate for them ~
shall negotiat" for myself and k"cne. 50
t,er as the selling Of our stock T. Concerned.
The others must do their own 'radlne.'
" But il Western Union buys u majority Of
Atlantic and PA III from you and kecn". the
others Will have no market for their shares
II can't help that. Everybody looks out for
himself down here. Who il there To- look out
for me? Nobody hut Russell Sage. Self
preservation is the first law OF nature. PERHAPS
somebody Will como along By and by who will
telegraph for the people for nothing. but don't
know " any such phianthrOplst at present"