The New York herald., 1877-10-11


GROWTH DURING rnE PAST YEAR
On the LIST day OF july 1876 the Western Union
OF wire and 1902 Offices At the close of the year
ended June 80 1877, there wero in operation IS 955
miles OF iine 94,323 miles ol aud 1880 Offices
The during tho yoar has been 43 miles Of
limo, or 40 per cent; lo,4gl miles OF wire 81 per
use on tho lines Of tho pany AZ the close OF the
scal year, 800 sets Of tor reading by
Sound printing lag recording
meuts, lib quadruplex Instruments, 81, sos cups
OF main battery aud 2l,9s6 cups Of local
Tor the year. amounting to S9l, ,342 Is, has been
charged to working expenses. Th,re were expended
repairs of limo $53l U6S 35 and 1884 379 81 fof
reconstruction making total expenditure ior main.
lenance OF line Of $s65,447 50; decrease over Iha
previous year OF SS5,l1S ~.
MESSAGES TRANSMITTED
The number OF IN .ssages transmitted during year
ended June 80 1876 was 49, 567, and for the year
ended June ~, 1917, IL being an incr ease of
or IL per cent fhs includes press reports
reduced 10 messages the basis thirty words
each message. The average tolls upon cacn message
for :he year ended June 80 1875 were So cents the
average cost OF transmission, 81. cenls and the
average proat per message, IA cens; while
tolls were 436 cents, average cost 20 and average
profit 1873 cents. The decrease in the average tolls
during the past year. compared with the preceding
year, 73 cents per message, l43 per upon
entire traffic oi the company. The average annual de-
per cent which shows that the reduction last year
was per cent more than the average.
Inc capital Stock Ol the lnterpational ocean Tcls
egraph Company is 100000, Of which tho Western
Union Company owns ST. 03S SOC the
ocean Company owns Sol, 800.
THE ATLANTIC AND PACIFIC CONTRACT.
Since the close OF the year arrangement has been
concluded with tue Atlantic and Pacific Telegraph
Company Tor pooling the gross receipts business
Of the Two companies, and dividing them tho basis
OF 81 per cent OF tho combined receipts Test
Union and l21a por cent 10 the Atlantic ana Pa
chc Company. Subsequent TO the completiun OF tins
arrangement the Western Union Company purchased
~ 5O2 shares OF the STOCK Of tho Atlantic and Pacific
A.
u 900 shares OF western Union STOCK and $yl2 $50 In
cash. The outstanding capital OF the Atlantic aud Pa
cihc Company Is S1i, 900 600, anu represented by
100000 shares o the par value Of 800 each. When
pcndIng arrangements are iully consuminated CON.
mon interest will govern the mana agemcnt OF both
panes aud IL is expected tuat all the substantial ben.
ehis oil all actual con solIdaton Will accrue. With
tho cessation OF the wasteIu competition which has
existed Tor several years past IL Will be practicable
TO arrange system OF tolls throughout the country,
which, While more rcmuueritive TO the companies,
will also be more advan to the public, because
the reductions viii be- moro widely distributed Wa
shall also be enabled TO reduce expenses very matc-
rally by tho Introduction OF many economies through
the community OF interests thus established bet
the two companies
DIRECTORS
The stockholders held their election ycstcr-
day. President william Orton In the cnar, whom tho
following directors were elected without opposition
William orton, William II. Vanderbilt, Edwin ID. Nor
gan, Robert Lenox Kennedy, Moses Taylor, Augustus
scheil. Wilson q. Hunt J. Pierrcpont Morgan Frank
Work, Harrison Durkec, Cornelius Vanderbilt James
h. Banker, Chester w Chapin, Aionzo B. Cornell,
Hamilton Mex. Twombly George NJ Pullman. Norvin
Green, William n. Thorn John H. Dun, Cambridge
Livngstor, Darius o. MiiIs, Olivcr IA. Palmer, Ed
wards 5. sanford, samuel A. Munson, David Jones,
Joseph Harker Arson Stager, Samuel II. Barger, Ed.
win ID. Worcester