The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-03-17
THROUGH GREEN sPECTACLEs.
DR.. Green's Views ON the Telegraph Bus
ineSs, Present and PFospeetIVe.

THROUGH GREEN sPECTACLEs
DR.. Green's Views ON the Telegraph Bus.
ineSs, Present and Prospective.
NEw YORK, March l6.-Dr Noryin Green,
President Of the Western Union Telegraph
Co., convesed freely yesterday with a ri
buk reporter regarding the the long estab.
lished telegraph properties, and stated the
reasons, which he thought justified the
confidence Of the investigators in them.
He compared them iayorably with railroad
properties, and furnished several facts, not
heretofore made public, relating 10 tele.
graph business.
DR.. Green said: ~ do not consider that
there is any more valuable CORPORATION
property in this country than that OF the
Western Union Telegraph Co., whether il
is considered in view Of its prominence and
continued growth OF strength and increase
oi revenue or in view Of its capacity to earn
renumeratiye dividends for its stockholders
on the basis Of its present capitalization. /"
GROWTH AND INCREASE OF WESTERN UNION
Its growth and increase OF business have
been simply wonderful, and have uni.
iormly gone beyond any estimate that has
been made Of them from year to year, Our
statistics show that in miles Of wire. mile
OF poles, number OF Offices and number OF
messages, the increase in ten years has
been more than three fold; the greatest
percentage Of the increase being In the
number Of messages. On account Of
large reductions in rates the gross revenues
have only increased two.iold from $T,OOO,-
600 to $l4, ,00O,O 900 In round numbers, while
the profits have increased from S2,500,0O0
to a little over S7,0OO,00O a year. Tkis
growth has been steady, there being more
or less increase every year over the pre-.
vious year, and the present increase in the
earnings OF the company is at the rate of
$3,OOO,OOO gross per annum.
CAPITALIZATION AND PROPERTY.
elias not the capitalization Of the com.
pany also largely increased?" asked the re.
porter.
"The capitalization at $4,000, 900 stock" ,"
replied DR.. Green, "is u smaller increase
on the actual value ofthe property OF the
company rs property, than that Of the
capitalization OF any railroad property !
know Of in the market The franchises Of
the company, including its patents and
secured rights under contracts, have n
greater value and greater security from
destruction or violation than
those Of any railroad corporation,
1t has been the fashionable habit TO de.
nounce telegraph property as precarious and
perishable, but our perisable poles last four
times as long as the tics Of railroads. and
our wires last longer than even their steel
rails. OF course both in time require re.
newal, and this work OF reconstruction is
constantly going on, and always with the
effect OF making the lines stronger and
better than ever before, the cost being
charged as current expenses. Our lines
and property arc every year in essentially
a better condition than they were the year
before.
FUTURE PRosPEcTS OF TELEGRAPH BUSINESS.
"How do you regard the future prospects
Of the telegraph business PIE
"The telegraph" continued DR.. Green.
us essentially the adjunct OF commerce
and must naturally grow with the increase
oil trade; but It has further continual
growth In the adoption OF its use by new
branches OF trade that never used it before
Among the recent growth OF this sort. | |
may mention the fish and iruit trades, and |
there are various other branches of new
business. The use OF the telo.
graph by any house in given line OF |
traffic compels all the competitors
Of that house to use it or be beaten, so Il il |
very speedily adopted by the whole line Of |
traffic. The growth OF The telegraph busi. |
ness must therefore continue to be rapil
until the telegraph comes into universal
use in business transactions between dis.
tant points. There is still largo per cent. |
age OF men ol means who have never M. |
preciated the advantage OF telegrapbic |
communication and never used 1t In their |
business transactions. l have observed
that our, increase Of business is uniformly |
something more than our increase Of facilI-
ties to do the business satisfactorily. hence
have held that our greatest com.
petitor was time, and lust as we
can overcome time in the transmission and
delivery Of messages we can increase onr
business. A great deal has been done In
in the last year. The busi-
ness never was done 50 well as Il a beinv
done now, hence the handsome Increase
But We expect 10 make further improve.
nents in that direction aud further greater
increases as the result. As the business il
now more than three-fold greater Than Il
vas ten years ago l expect to see Il len,
years hence III live so longl more than
three.told greater than 1t is now. would
lsk what railroad property has such A pros.
pect. Tho derision OF our securities as in.
Vestments has had its day.
NO DANCER PROM COMPETITION.
Are not the established telegraph pron.
critics exposed TO the dangers oI competi.
tion7"
1.-THE competition does not threaten
more than TO take part OF the increase oi
business" DR.. Green answered.
"1tis thought by some that the ODD osition
capitalized BY low cost, nav not
only do that, but through reduction in in |
rates take away part Of the regular buss.
ness Of the old company" said the re.
porter. ~
capitalization has nothing 10 do Win
the rates, ," Dr.. Green reioined, aWe have @