New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-07-15
LOCAL MISCELLANY.
OPPOSED TO CABLE COMBINATIONS.


The Board of Trade and Transportatlon mas ade
dressed memorial to the members OF the House on
Representatives at Washington, protesting INA. .no
Senate hill No .. 0S4 entitled "A BIZ TO Encour-
noe and Promote Tclegraphic Communication be-
tween America and Europe" does not suihclen'iy
guard the public interest. The memorial is signed
by the president and the secretary OF the board'
and it's arguments are as follows:
Owing stock watering operations OF the most ma
grant character and the combination existing %
cables the pubic Is Obliged to pay TWO vi v
times much for telegraph service as wouu pay
liberal return upon capital INFESTED Cmnauv OF
epulaons made with the secretary OF state lna o S,
cable has been recently raised from =?
aword TO 90 cents word; wne gool o1nme of
that former price would, with an ordinary ,nol
business, yield very large percentage upon tho '""
cost of construction. -
The which bill is now before the House. to charter new
cable company provides that IL sna 9 but If does not
with sell existing cable Interests po to r es
nor does IL nut any limit the rates which may pe
charged We respectfully suome tnat thG AZ to
ne an amended rs 10 provide against combination as "
rstss and t6st reasonable maximum rate should DC
named in the bill, beyond which the company snouu "o'
stn,s have been made tune to time in the
nnbiic nIints when nsw cable companies were ormlng
mt I, hence sterling or I2l2 word, would, win
a reasonable volume of business, pay 1dir return uPo
The actual cost rst-class ocean cables Inc eH
listing cable companies have for long periods; id
ted messages at the rate OF 20 cents woru I here
fore respectfully submit that would not be unreason
able to stipuate In tine bill chareImg any new
that they should charge more tnan shunS LhSon
% cents word
TROUBLE IN A STEAM POWER COMPANY.
The New-York Steam Power Company was was, orga gan
lied twelve years ago with captdi Oh @oGo'OYYo ~
It's nresident now is George Moore VINO Is also
president of the West side Bank III ElVhtu-"No.
It's other officers Rowland 1. Ill., Nlce-pltsIu
John l.. Cameron, treasurer, ana JOnh DdiiIiu,
secretary The Offices aIe al No. % Ahh-st, az"
the company supplies power 10 run many PLintttnS
presses III the lower part of the city, an enoie 20
being made to place the company IN the ns h ~ "a
"a receiver and wit Is now penuIhg III 'I0 a., g.
preme Court Tor tnat purpose. iePol VI ~
iRIBIJNE called ON President Moore yesterday anu
asked him what had led 10 the apPHV"'''Ie a.,
IL is all owing said Mr.. Moore, 10 one OF Tue
stockholders, Pa nck Riley. lie was formerly tno
president OF the company. and now owns, OF Ia.nel
controls about hall the stock. lie is Il trOupeHono
fellow. and always has Decn. lie cannot own ny
stock directly because of personal hnanclaI uun-
entities | cannot imagine why the AltOlnoA -Ocl,-
affairs, began the suit. lherc - 10 % az
argument before him next MOhuay II ~
regard to the matter, and our counsel JOlil
T. Parsons says that the suit Will uIiIouo'outS
he dismissed. The idea Is TINS: hhcy OWNS
nearly half the stock and Is just trying 10 scare US
SO that we will sell our STOCK chedpIJ ana Ien Nv
will buy IT. The company does not oWo u Ii
and was never prosperous as now. We uecia! ca
n dividend last week Tor The hrst SIX mont us o 'nS
wear The business of the company can DC closeu
in "A week If necessary, so you can see no" uhhSO
sarv a receiver would be. But / apprenend 10
General hears both sides of the story ne must SEQ
that he was imposed upon by man VINO Is always
making trouble ~, . = ,,s so;d
AT the law Office of Man * Parsons 1t was sald
that Mr. RIley's affidavit complained OF the MdldsoI
ment OF the company, ana Instanced mistakes salu
president, he had signed. Mr. moore hds peeH
president Tor gDt years.