The Portland daily press., 1881-01-22
ITO the Associated Press.1
WASHINGTON.
The Tariff Question.

The Tariff Question.
A gentleman prominently connected with
New England industries expresses the opinion
that the Eaton bill will be passed BY the
House at this session, and that theu the tariff
question will be taken out of politics. The
Eaton bill, which has passed the Senate, is
now upon the Speakers table in the House
awaiting action.
The Pennsylvania Senatorship.
Senator Don Cameron says that he has little
doubt of the election of Oliver in Pennsyl-
vania, but that it was not probable that the
result would be Immediately reached.
The Eads Ship Railway Project.
The Interoceanic Canal Committee has not
agreed to report favorably the Eads ship rail-
way BILL as has been stated. Mr.. Eads is very
confident, however, that the committee will do
SO. Mr.. King, chairman of the committee, has
always been favorably disposed to the Eads
plan, and last winter was regarded as one of
Eads' leading supporters. Capt Phelps, the
chief promoter of the Nicaragua scheme, does
not think that Eads will receive favorable re-
port, but he will not oppose Eads unless he
shall ask for subsidy. Eads does ask the
government to guarantee the interest upon
$5O,OO0,000 of bonds.
The Census Appropriation.
Senator Pendleton will endeavor, when an
bill appropriating another $500, 900 for the
completion and the publication of the census.
With this additional appropriation General
Walker can complete his Investigations of an
industrial and social nature, now being con-
Quoted with the highest expert KNOWLEDGE
These investigations will make the tenth cen.
sus an almost perfect inventory of the industri-
al, social and vital condition of our people.
Gen. Walker finds the government printing
once SO crowded with work that he desires au-
tnorlty TO nave som of his printing executed
by contract at private printing offices.
nh
Officers of the telegraph companies main
tain great secrecy as to the terms of agreement
under which it is proposed to unite the three
principal companies. A director of the Amer
lean Union Says that the proposed increase of
the capital stock of the Western Union was to
pc divided as follows:-A scrip dividend of
$15, 585.445 was to be paid to Western Union
stockholders, while the American Union was
to receive $15, 100000 the full amount of its
capital and bonded debt; Atlantic and Pacific
$S.4oo,OOO. which is 60 per cent. of its outstand-
ing STOCK. Ihese sums with the present out
TO the proposed capital of the consolidated
company.
1t is said by the friends of the companies
that the suit for an injunction brought by Rufus
Hatch against the three companies to prevent
the consolidation would amount to nothing. The
complaint on which the temporary Injunction
was granted AYERS that the Western Union
Company has obtained a monopoly o. telegraph
business in the country by purchasing the con-
trolling interest in each telegraph company
that has been established, aid in so doing it
has inflated its capital stock to about iS4O O0O,-
OOO; that such capital stock does not represent
absolute payments in cash to the company but
that 1t is largely inflated, and that the Western
Union intends to increase its capital stock to
$oO,O0OO 600; that this increase was purely ficti-
tlous; That 1t was not pretended or intended
that any money should be paid into the treasu-
~ OF the company therefor, but the stock to
De issued and given away for the purpose of
pi occurring the installation without any
legal consideration, and in excess of the
powers OF the corporation, and that such
increase of capital was fraudnlent and
VOID. The complaint says that other compan-
les will be started to break the MONOPOLY: that
the present consolidation is carried on by GER
tain directors of the Western Union telegram
20. and the directors of the American Union
largely Tor their own private gains and profits:
THAT the Western Union was purposely de-
pressed from $105 to $50 share, at which
price the directors aud others bought to such
an extent that in few days the at the Stock
Exchange the whole capital stock of forty mil
lions of dollars of the Western Union was
bought and sold. Then the consolidation plan
was announced and Western Union sold as
high as S1l3 per share, and it is charged that
Inc profits made by the directors of the West
ern Union and of the American Union, who
have been engaged in this speculation, have
been enormous. and that the whole operation
has been entered into with the preconceiyed
design of making money for the persons en-
gagged therein and not for the interests of the
stockholders whom they represent. The order
to show cause is returnable Morday next.