Evening star. [volume] (Washington, D.C.) 1854-1972, 1880-10-02

[COfTeSpO'tdefce or The Evening Sfdf.1
NEW YORK, october l.
That most remarkable instrument, the tele-
phone, has passed two very important stages OF
existence. and is now about to enter its third
and fourth. The telephone system now in oper-
alton consists of the Bell, Edison and Gray
patents, and they are all practically under one
management. The Bell Telephone company
was originally formed with capital stock Of
s1,OOe,0OO In shares, at par value, of 500 each.
stock rose In value to a fabulous amount.-some
say as high as 8, 100 share was paid d,-and the
stock was quoted among unlisted stocks at $SOOa
$1,000. No sooner had this state OF things ap-
peared, than successful attempt was made TO
water the stock. 1t eliminated in an increase
OF capital from 81 900 to SIS OOO the share
PEI being ,t stiil Il 500 EACH Even at this figure,
place where it is openly dealt 1n,) at 500 share.
TWO weeks ago 1t was quoted at $40. Notwith-
standing all this. and that several men have
made fortunes out OF the stock, there has never
been dollar of dividend paid On 1t, and the
Telephone company Is In the market to-day TO
borrow million dollars on the company's
notes, to bear per cent interest. This goes TO
show the immense expenditure that has been
made for the purchase OF patents poles, tnstru-
ments, wires, offices, lawyers fees, etc. have
ence. The first was the formation OF the CON-
pany. Second, watering the Stock Third.
b-rroWing s1,0OO00o. The fourth, and now very
important, Is
PROSPECTIVE COMPETITION.
This Is from the Peoples Telephone Company,
an organization composed principally of Wash
ington gentlemen and some capitalists of New
York and Cincinnati. Hon. Richard c. McCor-
mick is president and Simon Wolf, OF Washing
ton, is one OF the directors. George Harding OF
Phlladelphia, Is the chief attorney. The claims
OF the Peoples Telephone Company are: first,
priority OF Invention over ali, In that man
named Draw baugh, of PENNSYLVANIA. invented
the telephone In 1865, and proves the invention
OF Bell, Edison, Gray, &C., were taken OUT
none earlier than 1876, think. Second, that
the new company has, in its patents beside The
prior invention, the right absolute to make a
more simple, cheap and perfect telephone than
that now In existence. In fact it Is proposed
10 furnish the use of the new telephone for a
little more than half the price now charged for
use OF the Bell telephone and they expect to
make an immense amount of money out of it,
The questions OF priority OF right, of patents.
&C, Low goes to The courts. and 1t is claimed
tEat the new company has an excellent case IC
IS certain, In any event, that the scheme is
backed by wealthy men, who have already
spent sSo. Gee and engaged to spend twice that
nuch more Ill short time; and 1t is also cer-
tain that they have been offered 5000, 900 for
half the stock and one share more. which means
control.
WASHINGTON MEN SEEM TO HAVE BENEFITED
right along by the telephone. Assistant Post
master General Brady, with a small invest
ment, made fortune out Of it. Theo. n. Vail,
formerly chief Of the railway postal service,
who was fortunate also in getting in at about
$50 SHARE is now living in Boston, and Is one
or the managers of the Bell company. dozen
Others that might be named In Washington and
georgetown have substantial reason to be very
glad OF the invention. Every one who has had
anything to do with the thing has grown In
Iocket SO rapidly that his surprise teaches him
10 ptheVe almost any hope probable OF fruition.
Gov sREPHERDs MINING VENTURE
gentleman who has just arrived from San
Francisco says he saw man from BaUoplas,
Mexico, who says Governor Shepherd will in a
very few years be the wealthiest man on this
continent. He says the ore In sight and on the
dump OF the mine will make tons upoa tons or
pure silver at small cost. Governor Shepherd
has already left Chihuahua for San Francisco T.,
gel the mill machinery that was sent from here
10 him, and proposes TO erect it at once aad
commence shipping silver bullion. That com
pahy mas already paid two dividends. with It's
pit!fully meagre facilities for manipulating the
ore Governor shepherd writes here with Im-
patience at the DELAY In receipt OF tae ma.
ch1Lery
THE BOARD OF PCBLIC WORKS IN NEW YORK
New York seems now to be the central point
OF operations Tor most of the men OF promi
nence In Washington affairs In the past. Take
for instance, the board Of public works. Cover
nor Cooke is here as frequently as his health
Will allow, and when he cannot come, his son
Hairy is on hand attending to their mIning aud
Otnef ild DuSlhes ana,rs BY the way. Gov. Cookies
mine at Leadvllle, the Adelaide, has again ap-
peared among those with a hopeful future, and Is
valuable. S. z. Brown passes through here every
IeW Gays on business connected with an i'm.
mense saw mill ana lumber tract near Montreal.
Owned and operated by him and Assistant Post
master General Brady. He is making money. A
=. Mullet Is here nearly all the time, Interested
for Hancock. BE has soured on the republican
party, and viii vote with Dana The other
members OF the board OF public works are seldom
here. Magruder is In mining, and lives ia Wash
1ngton yet. Henry A. Willard was here last
week for a Gay or two, and Cluss sticks closely
10 his architectural work In Washington.
Evans, Lewis Clephane and DIR. Fibert no ade
large SUMS OF money. Jno o. Evans can round
up clean million, and is making yet. He aud
wife We're at the Oriental Hotel, Coney Island,
all summer. Clephane IS In washington aud
Dr. Filbert In Philadelphia, both suffering from
sore wrists caused by exertions In coupon clip
herd ring as 1t was called, Hallet KIbourn Is
here very often. He has important mining in
terests In Colorado and seems to live In luxu.
nous comfort at the Gilsey House. The etner
intimate Of aN-poor w. S. Hunlington-is
dead. -
PERSONAL MENTION.
Gen. Beiknap Is pursuing quiet and lucra-
i've law business here. EX-Secretary Bristow
and Saml. j. T1lden. both lawyers and always
in the hands OF their friends occupy law
GflGes In the same building Captain Frank
Holllngshead has been at the st. James two
weeks, returning to Washington from summer
SH.aS at SaIa atOga u. ID. Pdlntef has spent half
the summer at Fifth Avenue Hotel. Gloss. the
lobbyist from away back known for 80 years
IN Mashirg gton, has transferred his speculative
mlnd to the Boreel building, where eX-Senators
Gha11ee, Dorsey, Mcdonald, ex-C0ngressman
Elklns and Senator Jones run the mlue5 OF
colorado and the Comstock. Congressmen
rage, Huhhell and Calkins are also frequent
VISITORS TO that building. Henry Semken John
". Boteler and A. S. S0lomonS are here laying
.Eelf winter supplies. Gen. James Casey. OF
new orleans, lives here now. So does John
Fnagg,., FFiagg, formerly reading clerk of the Senate
General Geo. B. Este, General 81. G. WorIh!ng-
ION Ju0ge Carpenter, Of South Carolina De-
Iectlve Moore, OF the Treasury, the ever present
fianagan, John Coyle and dozen familiar
races from the front of Willards, may be seen
IN 'front.' Of the Fifth Avenue Hotel almost any
evenipg. Frank Alfrield, the genial secretary o.
Ine senate committee on commerce. and Z. E.
Mhlte. OF Louisiana avenue, are together at the
Gilsey. James 1. Christie, deputy sefgeant-at-
~ as or the Senate, was last week chosen judge
at Daby show at Dover, N. 81. Mr.. Christie is
bachelor.
George Alfred Townsend Is living In style on
23d street and John G.. Moore comes weekly to
New York from Buffalo to pocket his large divi-
dends from the Graphic.
CONDITION OF THE STOCK AND PROVISION MAR
KET.
Better you look Oud OF dose provision fel
l6Ws," said Teutonic friend, as he walked