National Republican., 1881-07-27
TELEPHONE SALE.
A NEW COMPANY TAKES THE WIRES.
Salo or All the Telephone Interests 10 jobs W.
Thompsons New COmpauy-They Take rOs.
session To.Day-Hou II Was
Brought About.

al hear some very important transac-
tlons in telephone matters have been going on
within day or two past" said REPUBLICAN
scribbler to telephone stockholder last evening.
We'll, yes Your ears seem to have been large
enough to scoop in a correct rumor this time
THE REPUBLICAN,, Of course is the first TO
gather these little items in so now give it to us"
well, you Keep your ears wide open and your
pencil going AT lightning rate and you can bother
me for few moments. II is known that for some
time past rumors have been in circulation that a
gigantic war in the telephone business was immi-
nent not between subscribers and the telephone
company this time, but between the National Cap
ital Telephone Company mud what Is known rs
the Maynard interest. While these facts have
been well known to those posted in telephone
matters, II has pretty generally been kept from the
public. Such an outbreak being among tue probn-
biities wrangle which would have carried one
or perhaps both interests to the wall would have
been the result. Foresecing this danger, the stock
holders of the Telephone Company decided that
consolidation Of all Interests must he obtained II
possible, and in furlherancc Of this idea Mr.. II. d.
Cooke negotiated with Mr.. Maynard for the sale Of
his interests including all his private line club
line, speaking tube line rights and all tho rights
to territory included in the nnh lighthouse dis
trict, extending from Baltimore to the coast of
Florida. Mr. Cooke succeeded in purchasing this
interest of Mr.. Maynard, and for some weeks past
has controlled this extensive business
R-"That was quite an extensive interest"
stockholder-" Yes indeed, much larger than
some Of the stockholders themselves even had any
idea Of and the number of telephones in use un-
der 1t was very large, with possibility of greatly
increasing the business. II was further deter
mined by all the stockholders that the present
form or organization of the company was not rs
satisfactory us 1t might be. The company has been
sort Of Joint stock partnership, whose business
wasmannged by three trustees, and II was decided
to change II into regular Joint stock corporation
As there was n restriction in the District laws
which prevented an organization here, the com
pnny decided to organize under the laws Of West
Virginia, and charter was accordingly applied
for and obtained. This company has been fully
organized under the same name as the old COM
pany, the following being the seven directors
chosen to manage its business II. 5. Cummings,
John w. Thompson, Frank ID. Congcr, H. ID. Cooke,
j. b. Edmonds, Gardner G. Hubbard and william
II. Barnard. This board elected the following OIL.
GERS President, II. s. Cummings; vice. president,
John w. Thompson secretary, william H. Barnard:
treasurer, II. ID. Cooke. The organization Of the
company having been completed on yesterday,
Mr.. Cooke sold all his rights, or the Maynard In
tcrcst, to the new company, and Mcssrs. Edmonds
Barnard, and Conger, trustees of the old company,
carrying out the instructions of the stockholders
also sold and transferred TO the new company all
the rights and interests which they controlled and
represented. The new board of directors take
charge of the business Tomorrow, and, rs they
now control all the telephone rights in the District,
the prospect of war is done away with, and there
will no doubt be clear sailing for them In the fi-
ture. / understand 1t is the intention Of the new
board to vigorously prosecute the construction
work now in hand and for which they have orders
aud 10 use every means to build up and improve
the service. 1t is expected in short time that all
hatInFv hn1Ig nj ftt men aud ty1t tiph
have justly caused great deal of dissatisfaction
among subscribers, will be replaced blythe i'm.
proved magnetic bell, and only one or two sub
scrbers placed on a line. so that the service can
be rendered much more satisfactorily to til. com.
pGuy and the subscribers"