New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-20
THE TELBGRAPH CONSULTATIONS.

ACTION OF THE BOARDS OF DIRECTORS
THE AGREEMENT RATIFIED By ALL OF THE COM
PAAIEs-THE DETAILS NOT YET MADE PUBLIC
A UNANIMOUS VOTE IN EACH BoARD-No DOUBT
q ENTERTAINED OF THE APPROVAL OF THE STOCK
y HOLDERS
The agreement for q consolidation of the Western
Union, American Union and Atlantic and Pacific
Telegraph Companies was approved yesterday by the
Boards Of Directors Of the three companies The
details OF the agreement itself were withheld by the
directors, who regard the matter as unfinished
business until it shall have been sanctioned by the
stockholders Of the companies. President Green, of
the western Union Company. declined to make
known the conditions Of the agreement; he returned
the Following message to TRIBUNE reporter who
asked for copy Of the agreement:
The Board considers it Stll unfinished buslnesa ana
public.
1t was explained that the general outlines re-
ferred to by him were only the proposed union of
the three companies.
W. B. SOmervlle, superintendent Of the Press
Bureau of the Western Union Company, said that
he had requested copy of the agrees
ment but that the directors had refused
to grant the application. He had re-
ceVed no further information as to the terms of the
proposed consolidation. At the Offices of the Amer
lean Union and Atlantic and Pacific Companies it
was said that the agreement could not yet be made
public
The meetings Of the directors were largely at
tended, and the vote approving the agreement was
in each case unanimous. OF the Western Union
Board the following members were present: Norvir
Green, William H. Vanderbilt, Edwin D. Morgan
Augustus Schell, Harrison Durkee, James H.
Banker. Samuel F. Barger, Joseph Harker Hamilton
Nick. Twombly, John Van Horne, Cornelius
Vanderbilt, Wilson G. Hunt Edwards s.
Sanford, John K. Duff, ID. o. Mills, Oliver
H. Palmer, Samuel A. MunsOn, Arson Stager, Edwin
D. Worcester and William ID. Bishop. Those who
were absent were AIonzO b. Cornell. Moses Taylor
Chester W. Chaplin, Robert LenOx Kennedy, J. Pier
pont horgel, George NJ Pullman. Henry N. Phil
lips, and HughJ. Jewett, The vacancy in the Board
caused by the recent death of David Jones has not
been filled. The meeting lasted about an hour and
. half meeting Of the stockholders was called for
February 5.
The meeting of the Atlantic and Pacific Board
was held atoT in the afternoon. All tue meInbers,
many OF whom are also directors VI the Western
Union Company, were present. They are: James
II. Banker, Samuel F. Barger, A. b. Chandler,
Chauncey NJ. Depew. Harrison Durkee, Norvin
Mortimer, X. II. Rochester, Augustus Schell N. J.
Syns, Hamilton Nick. 1wombly, Henry N. Taber
are members of the Western Union Board
The action Of the directors OF this COM
pany, after the vote of the Western Union
Board, WAS matter of form. The agreement Tor
consolidation Of tho companies approved by
unanimous vote meeting of the stockholders had
been previously called for February. The only mem
Der of the American Union Board who was not pres
ent at the meeting yesterday was H. H. Letter. of
Chicago. The others are Jay Gould, Sidney Dillon,
w. +. Conner, Robert Carrot, Nathaniel Niles. Rus
sell Sage. j. j. SlOculn Frederick l.. Amos, +. Cor
don Dexter. Thomas I. Bckort Thomas SwlnyaTd
and j. ii. Bates. Every vote was cast In favor Of
the proposed consolidation. meeting of stock
holders was called.
The proposed consolidation depends now on the
action Of tho stockholders Of the companies. An
officer Of one Of the companies said yesterday that
there not the least doubt that the plan of union
companies The approval of tho agreement by the
Board of Directors he considered Sufficient reason
for this confidence te said that he was sure shat
the directors alone held enough stock 10 insure the
final ratification OF the Union.
Increased activity in telegraph stocks tx
hibItei at the stock Exchange. especially IN the
late dealings. The price Ot Western Union advanced
tO 1898 and closed at 1852 against 1854 Tues
day American Union advanced IT, 80, nut closed
at 81, and Atlantic au1 Pacific advanced TO 4S. aud
closed only Is below It's highest price for the day.
An application was made by Justice barrett sit
ting in Supreme Court. Chambers. yesterday. for
injunction restraining tbs Western Union. the
American Union. and Che Atlantic aud Pacific Telc-
graph Companies from carrying consolidation into
Effect. / he papers were VOluIninOus, and Justice
Barrett did not have an opportunity thoroughly to.
examine them in court. lie took them, however
with the understanding that he would decide this
morning whether or not to giant "A temporary in
junction. Robert Sewell REPRESENTED the complain
ants. He positively refused To give any lnfOrma-
ton to the contents of ,he or the character
OF the sut when inquiries were made of him by
TRIBUNE reporter.