New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-03
THE DIRECT CABLE COMPANY.
CHAIRMAN PENDER's SPEECH AT Yesterdays
MEETING.

CHAIRMAN PENDEKS SPEECH AT YESTERDAY
MEETING.
LoSDoS Friday, Aug. 2, 1878.
Mr.. John Pender, chairman of the Direct
United States Cable Company. his speech at the fret
annual meeting Of the reconstructed company to-day,
SAID:
The arrangements entered into with the AnglO-Am
can Company have worked our entire sausiactlon'
ments have not IN any way interrupted Nor has
our Last had the honor OF addressing Won
been n any questioned can conceive that IL
Ia likely be, because believe our position TO be ght
and aras the Interests Of the public are concerned
they have ON the whole, been benefited So long as we
pursue the policy adopted, OF charging moderate
rates 20 the public aud reduced rates TO me
rather than Dissatisfaction FROM Governments at
home and abroad as VEL d a., as , io tes
are proceeding between tubs company ana tue
tspmnate All eIsting difcuIfies with that company
aud result supplemental working agreement bene-
On 6e occasion OF our last meeting stated that IL
was the policy your board 20 accumulate as rapidly
possible large reserve. aud az the same time II pos
sble 10 pay large dividend The feeling OF the meet
ing gathered strongly In favor OF this policy, and
indicated preference for continuation OF per ceut
dividend until We had accumulated at least 4lOO,OOO
for reserve fund Tne board Is anxious 10 have .
commencing fund Of at least 100000 especially
having regard 90 the length Of time the cable has been
laid, but have felt they could NOT pay lees dividend
has been set aside shall have 10 consider what sum
should then annually be set aside Had our policy 6cen
adopted from the commencement this sum would have
been already reached.
CENTRAL AND SOUTH AMERICAN ADVICEs.
PANAMA, July 23.-The relations OF the
State Government with that the Nation not pleas
ant The NauOual officer who took charge OF the state
troops few days ago, In the OF the Nation,
med the and arsenal To his surprise lie found
that lOS stand OF all that remained out OF
LOCO purchased by the General Government during the
revolution Of ls7677 aud left here for safe keeping.
The ammunition had also disappeared only half dozen
rounds remaining to each gun He then made reqpisi-
ton upon the President OF the State for the missing
and ammunition but cooy told that he could not
have them This opposition to demand on the part OF
the Federal authority he duly reported Bogota and IL
is said that 500 meu are their way here The
missing arms and ammunition have been taken by the
State Government and distributed TO IFS adherens who
are beng drilled Every preparation Is making TO give
warm reception to the National troops, should they
come with hostile intentions.
The Peruvian Congress is ia session. There are
two or three claimants 10 each III the House, and
the work OF settling the contests viii be very difficult
each party will It's supporters whether legally
elected not There three parties IN the country
the Ins Uhe Prado partY the Outs 1.-THE PardO facOn)
aud those who hate the Inns aud Outs 1.-THE Clylllstasl
The Ciyistas the adherents OF the reyOutOnist
rlerOa, who is spoken OF by his friends as candidate
for the Presidency in $780,
The Fourth OF July duly celebrated In Lima and
CailaO. Ia Lima Minister Gibbs received the cOngratu-
tons Of the Executive his diplomatic colleagues, and
Moneenn the Papa Delegate especially cordial IN
his manifestations OF good will toward the United States,
a compliment highly appreciated by the Minister.
laRt accounts work steadily advancing on the
been Into the mountain side 10 depth OF eighty
five metres