New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-08-21
DIR. GREEN'S FOREIGN NOTES.

AMERICAN SECURITIES DIsCREDITED.
CAUSE or THE DIsTRUsT OF BRITISH INVESTORS
THE TELEGRAPHERs STRIKE.
| DIR. Norvin Green was warmly welcomed by his
associates yesterday when he appeared at the ounce
Of the Western Union OF wnlU nl
proved by his visit abroad In conversation with
| TMsUNE reporter on Sunday night DE- Green 81
| era Union stock on the London Stock Exchange,
because of the failure to sell large block OF the
stock to English purchasers 1t is prerequisite to
| listing a stock on the London Exchange that Q
considerable amount shall be owned and registered
IN the names of responsible parsons on tho other
The hour when Dr. Green was seen on Sunday
night was so late that only a few Of his remarks
could be printed yesterday. The following is a
more extended report o. the SGnvsIsaon In The le
feeling in Great Britain regarding American stocks
and bonds DIR. Green said.
securities of all kinds except the Government
| issues. As these pay no moro than per cent on
the par value there is no reason for purchasing
might as well. purchase British, cOnsols:
The British investing public has lost
considerable money by purchasing Union Pacific.
Wabash and some other OF our bonds and stocks at
prices above present quotations. The fall OF Union
Pacific aud Wabash would not have had much
effect in creating distrust of our securities since
thew were to q certain extent known speculative
stocks but the fall of New-York Central and Lake
Shore from 20 to 25 points within comparatively
SnST5 SetthU the wthsTawa 81 William IL vanderbilt
from the presidency of the Ncw-York Central and
other railroads in which he was supposed to own
controlling interest have bad effect ON foreign in
vestorsf~
| have done so. Any one who has been acquainted
with Mr. Vanderbilt knows that for two years before
his retirement from the active management of his
roads he shaping his business affairs as to re,
leve himself as far possible from the strain and
Lor rin oaad
him. This was undo btedly what be had In view
when he sold the large block of New-York Central
wealthy men. Mr. Vanderbilt wanted to be relieved
from the hard work and mental strain which re-
sponsibility for great enterprises Involves"
"Will this distrust pass away 7"
Undoubtedly it will in time. Most of the no
bility and gentry In England. as we'll as
the banking and mercantile classes, have
ton every nation in Europe, with the possible
ception of Germany, is Its debtor. There is an
enormous amount of money IN the financial centres
of Great Britain seeking investment, bat the inves
tors have been bitten so badly that they have be-
come cautious. The nobility and gentry rely i'm
phcitly for advice In making Investments on their
solicitors These are shrewd, careful lawyers, no
have built up a profitable business by advising
wealthy clients and investing money for them. Of
course the stock III trade OF these men Is the fact
that their advice proves to be sound-that invest
ments recommended by them prove to be paying.
Naturally, they dislike to take any risks for their
principals or to recommend the latter to do
so. The consequence is that money remains
locked up instead of being put into new
enterprises. They acknowledge the wonderful
growth of our country and the opportunil les for
making money afforded by enterprises in the United
States but the general dstrust owing to the causes
an nave amount Of British capital from
being invested on this side of tho Atlantic. II
looked as If would be able at one time TO place
large block of Western Union stock in England but
an excess of caution prevented 1t. The sum was
sldersbly below what Mr. Gould would be willing
to sell for and so the negotiations came TO an end
sX afa ta1 hiatt ha Ia NJ ha fata
operators was not matter of surprise to the officers
Of the Western Union Telegraph Company
bsps or Was un uwH snd see Of
among our employees who were actively at work
organizing the Brotherhood and agitating for an
increase of wages and decrease of the hours of
labor. did not think that when the strike
ordered so many operators would go ont. l believe
that many siened the roll Of the Brotherhood be.
lieying that 1t was petition to the company on
the subject of wages and the hours OF labor"
"What dc you think of the demands of the
strikeIsp
what they are worth but there is no justice in the
demand that poor workman should receive the
same as q irstclass operator. Then as to the hours
of labor The Brotherhood demanded that the.
hours of labor should be equaIizsd. An operator
who is employed for eight hours at time york
intervals of rest, certainly should not be
placed in the same class with
operator, employed in small branch
Office. The former is earning large revenue for
the company; the latter IS employed only OCCASION
aly The receip of the branch office are perhaps
not more thai $50 or 500 a month. The operator
$40 to $I6 monthly. Now if tho operators
hours are limited to eight daily we must
either run the Office at loss by employing two OPP
orators or close it,"
Are not all the telegraph operators in Great
Britain employed by the Government, which
trols the teegraphs y
1.-The majority sre. but there some employed
by private corporations All the various cable com
panies communicating with this country. France,
Span Italy and other European nations, the East
Indies, &c. have shore lipes to London and
Liverpool. Tue Western Union Telegraph Com
pany leases two land hines from Penzance, where
our cable laldf, 10 London aud Liverpool. These
| land lines are leased by the cable companies from
| the British Government with the distinct under
standing that local business is to be transmitted
over the wires"
"And it was from the telegraphers employed on
these leased land lines that you expected TO obtain
recruits to take the places of the striking opera
| tors ~
Eyes 4; / had thirty-fve or forty experienced and
capable operators engaged, and was ready TO send
| them to America at days notice, when l received
| inform atom by cable that they were not needed
| here, as the company was satisfactorily filling the
| places of the operators who ent out on strike"
You received good deal of attention on the
| other sdef'
"Yes, received the most unbonnded hospitality
on all sides, both public and private. Tho public
dinner TO which WAS invited in London has re-.
ccived some mention in the Press. Among other
favors shown me was the receipt OF frank allow
ing me to telegraph free to any part of the United
Kingdom. This was given me- suppose. in compl-
ment to my position president Of the Western
Union Company, and partly In return for similar
favors shown To prominent Englishmen who have
visited us. am told that it ls rather unusual
thing to do there. Even Mr. Gladstone pays tor
his own private kilograms
NARROW ESCAPE FROM A SHARK
c0lored boy from Mexico, fifteen years of age,
employed on board OF the steamship City of Puebla