New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-07-29
Il NEW TELEGRAPH SCHEME.

ORGANIZING THE POSTAL TELEGRAPH COMPANY
JAMES r.. KEENE TEMPORARY PRESIDENT.
At a meeting of the Postal Telegraph Company ut
the Office of James II. Keene yesterday Mr.. Keene
was chosen temporary president and G. II. Hasl<ins
vice president. IT was said that board of trustees
ives elected, but their names not made public.
Mr. Hasllns was formerly general manager of the
Northwest Telegraph Company,but he resigned that
Office when the company was leased n short time
ago to the Western Union Company.
The Postal Telegraph Company incorporated
recently under the laws of the State with
authorized capital Of 21 O0c 600 1t is claimed in
behalf Of the company that it has secured the ex-
elusive use of the compound telegraph wire the
Gray Multiple and Way Duplex systems of tele-
gfaphy the Lcggo Automatic and Autographs sys-
biography. BY the ownership of these inventions,
1t is claimed, the company will enjoy special
maintenance of its lines. The of it's lines and
equipment win be less than one-flth of the actual
amount Of business and the cost of doing its bust
ness Will be proporionately about one,fifth of the
transmittmg are used The company owns factory
for the manufacture of the patent compound wire,
which IS capable OF producing from sixty-sx to 100
miles OF wire day. II rs said that tbeentre cost of
the companys lines, carrying 10000 miles of
pound wire and manufacturing and repair factories
the equipment of the offices and lines together with
the purchase Of the various patents. will not exceed
Tl5,OOo,O00; and it is stated by the promoters of
the enterprise that this 30 900 miles OF wire the
company can do all the profitable telegraph bust
ness of the country. The company has not yet be-
gun tho work OF building its lines
Was there meeting held to-day by those inter-
terestcd in the proposed Postal Telegraph Com
pany y inquired TRIBUNE reporter of g. ID. Rob-
erts Yesterday
Yes" he replied, - but we were enioined not to
say anything about it,"
Because it was only preliminary meeting held
at Dir. Keenes Office. lie was elected temporary
Temporary only 2"
Yes and C. II. Haskins elected vice presi-
1t has been stated that 100. 600 shares of the
stock have been taken Is that so p
no, II was only a preliminary meeting 10 effect
something IKE an organization, and no shares have
been offered az yet. When the organization is COM
pleted the shares will be ready for sale, and have
no doubt will all be taken. Work will then begin
immediately ms the company controls all of
inc latest and most valuable patents in
has n factory in Connecticut, worth probably
Sloo0,000 to manufacture the patent copper
coated wire, which has transmitting power seven
teen times greater than the old kind of wire"
:, Was there not board of trustees eectedp
Yes but cannot give their names"
DO You know anything about the proposed tel
egraph company, Mr. Brander Z" inquired a reporter
OF the manager OF the Nevada Bank of San Fran
Nothing whatever"
mir. Mackey has been published as beng largely
interested III the proposed undertaking has he not 7"
-" cannot help what has been said | know that
Mr.. Nackey IS not interested in this thing, and
moreover do not think he would associate himself
in business undertaking of that kind with the
men whose names have been given in connec ion
with the undertaking."
:" Do you think there is anything in the scheme at
well do not know. Mr.. Keene. i, is sa,d. is
gentlemen. a NONRESIDENT Of the city talking 10 inc
the other day about building telegraph lines. He
Lad made very extensive calculations to the cost
of everything. did not understand him at the
tmc, hut what he said is now little palmer
because of the rumoTs about new line. There is
one thing am sure Of and that is that Mr. Mackcy
has nothing to do with H."