New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-15
TIE EELEGRAPH CONSOLIDATION.

NO IMPORTATION ABOUT DETAILS.
OFFICERS OF THE COMPANIES STILL RErTcENT-rnE
EFFECT on THE MARKET-PRoTEsrs AGAINST A
MONOPOLY.
The secrecy with which the preliminary agree
ment for consolidation of the telegraph companies
has been hedged about was still maintained yester-
day. At tue Offices Of the three companies the an
swer to ell inquiries that there was nothing
further to make public. President Green, of the
Western Union Company, declined to see The
TRIBUNE reporter. but it was said at the
Office. presumably on his authority, that he
would not be able to speak further on the subject
until after the meeting of the directors next
Wednesday. An officer OF the company remarked
that Jay Gould was the largest holder OF the COM
pany's stock, and that by the proposed con-
solidatiOn lie would secure what he had
striven for ten years to attain-the control
of the telegraph business Of the country. He ex-
pressed the opinion that the proposed change of
management would not be to the injury of the pub
lie service, for the that Mr. Gould entertained
peculiar views in regard to the Office of the Iee-
graph. 1t was doubtful, ths officer said, whether
the proposed union of the companies wOald not re-
suit in lowering tho rates instead of advancing them,
seemed to be the general impression At any rate
the cost of sending messages would be greatly
duced, in his opinion. by tbs economy which would
result from the combination Of competing COM
panes
Officers of the American Union Company an
nounced that they had absolutely nothing to say
in relation to the matter No meeting OF the direc
tors or OF the stockholders of the company had been
called. Apparently the company IS urg-
ing forward the completion of lines
already already projected AT the office of the
Atlantic and Pacific Company no further infOrma-
ton could be obtained. To requests TO Mr..
Gould the reply was made. at his Office that he was
too busy to be disturbed. All efforts to gain definite
M nf la inf Xypr
unsuccessful.
The excitement has greatly subsidized in Wall
Street, The price OF Western Union stock opened
at 1lOls Yesterday, aud after an early advance to
lila declined, with unimpOrtant fluctuations to
lO7, closing a. At 1Os; American Union stock
Pacific to 40 H. from which point the price rallied in
final dealings to 4534 and 1853 The general int
preston OF the street was expressed yesterday by
an officer of large corporation who replied to
casual inquiry as to his opinion Of Western Union,
in this way:
81 will say, as did yesterday to a friend, who
suggese certain stock speculatlon-l do not know
what the rest of tue world may 90, but shall not
attempt personally to break Vanderbilt and
Could"
The following petition. signed by many, was sub
ntted to the president of the Cotton Exchange yes
terday, and in accordance with it meeting will be
held III the Exchange at 2:2O D. m. to-day:
The undersigned members OF the Cotton Exchange
respectfully request you 70 call meeting OF the mrm
beers of the Cotton Exchange at the earliest possible
date, for tho purpose Of protesting against the
gigantic combination and monopoly recently concluded
he telegraphic system of the country, for the
purpose Of devising means by which, IN connection
with the din rent exchanges merchants and bankers OF
the United States, We may be able to become ndepen-
dent OF the mOnopOlies.
Among the signers arc Inman, Swami g. Co..
Fachiri Brothers, MarChson Co., Williams, Black
IL Co., Fatman & Co., Never. Wes & Co., and
other prominent members As to what the line Of
argument would be at the meeting, none OF
the members appeared to know but 1t was suR-
gested that the recommendation made to the Ma
Ional Board of Trade by tho New-York Board
of Trade and Transportation. ana tine
report made by a committee of the National Board
in favor of the adoption of the postal telegraph Sys
TEN. would be discussed. and committee appointed
to carry out the views OF the meeting.