The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-12-05

AAeNement caused by the Large sale OF
Western Union telegraph Stock In New
York YesterdaJ-An Interview Win
President Green.
NEw YoRE, December 3.-The sale OF
10000 shares Of Western Union stock by
Frank Work & Co., William II. Wander.
bilts brokers, in two blocks, to Kennedy,
Hutchinson & Co. and John Bloodgood &
Co. lat 1865, to-day caused deal OF com.
nent, andspeculators were erunning eager
ly about seeking to learn the reason.
Among the many given was to the effect
that the company had resolved to antici.
pate the commencement of business by the
American Union Company by a sweeping
reduction Of rates.
President Green, asked as to the truth
OF this report, acknowledged that a reduc.
ton had taken place, but put it upon difE.
erent grounds. He said that a long lime
ago his Company had resolved, as soon az
they should be in possession Of certain
extra facilities, then in contemplation. 10
give the public the benefit ofthem. More
than year ago he himself had advocated
that a reduction be made on the basis OF
80 cents TO Chicago. The extra facilities
alluded to were the addition Of strands Of
No. ! wire TO the various lines Of commu.
nicatlon under the controloft the Company.
during the past year over Is, 900 miles Of
such wire had been tested. but there had
been no hurry in putting it up, as the
Company did not anticipate any such in.
crease OF business as has accrued during
last season. To illustrate the extent Of
this increase. President Green said:
Heretofore September has been the
largest month, In point OF telegraph busi-
ness OF the year, and there has usually
been large falling off about the second
week in October. This year October was
the largest month, and there was no per.
ceptible falling of till the last week OF No
vember, making the continuance Of the
increase last weeks longer than ever known
before. About 6,000 miles Of No. 4 wire
are already up, aud on Monday connection
between New York and Chicago was com.
pleted and in working order, with quadru-
plex instruments attached, obviating the
use OF automatic repeaters at Buffalo, and
placing Chicago in as close telegraphic ap.
proxlmation to this city as Boston Is. Had
this been during the hight OF the recent
Green speculation, the business of the
company would undoubtedly have been
further increased to an enormous extent,
as 1t Is possible now to send message to
the West and receive an answer
inside OF an hour, whereas be-
lore, two hours were required.
On the completion Of the new line to
Chicago the following reductions immedi-
ately went into effect: To Chicago,
Indianapolis, Louisville and Cincinnati,
from go cents to so cents for every ten
words, and from four cents to three cents
Tor each additional word; to st. Louis,
from 20 cents to 60 cents for ten words,
and from five cents to four cents for each
additional" President Green added that,
according as wires should continue to be
erected and facilities increased, further
reductions would be made. A through
line OF four wires Is now in progress d.
rect TO San Francisco. When it is com.
pteted the tariff to that city will be very
materially reduced. Bad weather, now to
be expected, will seriously interfere with
putting up the wire, butt will be pushed
forward as fast as possible.
Questioned on the subject OF the pro-
posed reduction OF cable rates to 12l cents
per word, Mr.. Green said he understood
the French company have still $50 miles
Of land wires to erect in order 10 perfect
their communication with this city. This
will probably require six weeks to accom-
plish, and, until it is done, the Western
Union Company, under its official id .truc.
tons, cannot begin to take messages at a
reduced rate. In his opinion there is
business enough 70 employ all three COM
panies, but It would require six times the
amount Of the present business to make
the reduced rate pay.