The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-02-17
CrOsbYIa CAIIs.
oxso,IDArED WITH THE
ALIAS DAILY OoYNssoIAL. J

Chicago, Ill., Feb. 16.-The in.
forest in the Merchants Telegraph
company, now in course Of organization in
this city and New York, continues to grow,
in commercial circles, as time passes on.
There were no new developments with re-
gard to the enterprise yesterday, but meuy
interesting facts are coming to light which
show the strength of the organization, and
furnish still broader grounds for the belief
in the immediate success of the company
This is vouched for not only by the rapidity
with which the 100000 allotted to New
York was subscribed on the produce OK
change, but by the character Of the New
York branch of the organization, which in
cludes Alfred NJ. White, of Jesse Hayt 81 Co.,
for PRESIDENT Charles r. Hickox, Of Hughes
Hickox & o., vice president; George Omar
tin, of David Dows Sc Co., secretary; and
E. r. Livermore, Edward Amman, Franklin
Edison and David Bringham, directors. The
Chicago branch has not yet been organized,
but meeting of the stockholders for that
purpose will be held shortly. Both com
panies will ultimately form one organizs-
tion.
Mr.. w. S. Crosby, of the board of trade
who interested the New York men in the
scheme, will start in day or two to visit the,
intermediate points between here and the
seaboard and secure the small balance
of the subscriptions required. The allot-
ments of tho stock ars as follows: Chicago,
S5C0OOO; New York, SSOO,0O0; Buffalo,
S50,O01 Toledo, $4,000; Detroit $50,0OO;
Cleveland, $4,000; Milwaukee, S25,0O0.
The idea of the Merchsns' Telegraph com
pany WAS sugge'ted largely by tho success of
the Chicago AID Milwaukee Telegraph COM
pany, which has relied most exclusively on
The patronage Of the business mon, aud which
is interested in the Merchants Telegraph
company. The latter, like Its diminutive
predecessor, will work exclusively, or almost
So in the interest of the grain and provision
trade, at least for the present.
. Information from Buffalo sGys:
"Drectlv a,.e. tho consolidation Of the
American Union and Western Union Tele-
graph companies, il was announced by the
metropolitan press that the produce ex-
changes of New York and Chi ago would
take the initiative in organizing q telegraph
ompany, the wires of which should connect
the metropolis TO the e'-t with thst of the
west. Since the first sugg ton of this new
enterprise it has been rapidly pusf J for
ward and toe result was the organization, on
Monday last, of the Merchants Telegraph
company, al Chicago. The new company
will have capital of one million dollars, to
consist of twenty thousand ahaics at fifty
dollars per shsre. =,
"Oe this amount Chicago is to furnish
s5OO0O0, New York will raise 100000,
Buffalo $4,000, and Toledo, Detroit, Mil
waukee, and intermediate towns tho. re-
meining Sl5O,000. No single party will be
allowed more than 100 shares. The sab
subscription opened in New York on Tuesday
and be,wcan 1000 and 5000 shares were
then taken. Tho remaining 1,C) or 1000
phnre, viii probably not have TO wait long
ior takers.
III has be on the aim Of the protectors OF
,hia company to place the stock principally
in the hands of the members of the produce
exchages and men engaged in active ous
ness pursuits; those, in fact, whom the enter
prisaiS designed to benefit. There Will be
found wires extended through from Chicago
to New York, and the entNe cost ofthe con-
ttruotion, 1t is estimated, will not exoee
S4O0,OC0, so that but 40 per cent. OF th'