Daily Republican., 1881-01-17
Tho rslsrrspn Monopoly.

A large meeting Of the business men
OF New York was held on Saturday
afternoon to protest against the eontem-
plated absorption Of the various tels-
graph lines by the Western Union
which must result in raising the price
Of telsgrsphing. Until the present
time merchants and business men have
been submitting to any charge however
enormous in the hope iaat an opposi'
sition line would De put in operation
that would ,.eep the charges down to q
rsasonsJle amount. They thought
tbr~ had this when the American
Union Line, the latest opposition line
was put into operation, but before long
they had the modification Of seeing 1t
about to be gobbled up by the Western
Union the same as other lines that had
met the same fate. The monopoly
scheme was vigorously opposed at the
saturday afternoon meeting. The mem
bsrs Of the Cotton Exchange were the
lsudest in their conds snnation Of the
consolidation as the Exchange was
largely, If not wholly, dependent upon
telegraph communications to transact
itS business.
All who patronize the Western Union
are hsav lily taxed to enable the Comps-
ny to pay dividends on s4o,OOo,oso Of
capital, and after the consolidation the
demand would be doubled and they
would be asked to pay dividends on
$50, ,00V, 900 of capital. 1t was stated
at the meeting that this capital was so
largely inflated and watered that not
more than ten or fifteen per cent. OF II
represented money actually invested in
the enterprise. The question arises,
will business men bow 10 such an impo-
sition. We do not believe they will and
are pleased to note that at the meeting OF
business men referred TO one Of the
speakers, Mr.. Woodward, assured hi
auditors that another company was
sure to be organized and an opposition
line be put in operation within sixty
days that could not be bought out by
the Western Union or any other
company. Itwas also stated that three
other lines were under way and would
soon be ready for business. The line
referred to by Mr.. Woodward includes
a submarine cable to Europe.
If the proposed consolidation Of the
companies takes place between the
Western Union and the American
Union it will be one Of the most for.
midable monopOlisS on the globe. The
general plan is to retain the title OF
the Western Union Telegraph Compa-
ny, with a capital OF $50, ,ooO-ths
shares to be merged in the consolidated
company at q valuation Of l29 for
Western Union, ll35 for American
Union and 6G3 for AtlAntic and Pacific.
The New York Tribune in speaking
OF the reported combination makes the
prediction that the combination would
tend strongly toward what was atlasL
tried and proved successful in Rng.
lAnd--a control Of the telegraphic sys-
EN- by the Government as complete as
its control Of the mails. II ever the
use Of the telegraph should become SO
general as to seem likely to effect So
riously the Governments monopoly Of
letter carrying, then there would come
q strong argument for its complete con-
troll of both methods OF transmitting
intelligence. Government telegraph.
ing Is, therefore, the probable goal to
which We are tending, and If the half
is true that is now believed in New
York, We are much nearer Government
telegraphing than is generally sup.
posed, and II every line that is started
is emily for the purpose Of being bought
up, the sooner the Government takes it
into its own hands the better.