Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1883-09-13
BEN BUTLAR's SCHEME.
o eanization of cooperative Tele-
graph and Gable Company. in vnich
Operators viii Participate in the
Management.

Management.
Gov. Butler is said to be one of the
heavy hackers behind the Telegraph
ers' National Union Telegram and
Cablegram Company, which has been
incorporated under the general laws
of Massachusetts,, as an outcome Of
the recent telegraph strike. The OBJ
iect of the Company is to be the con
struction and operation of independent
telegraph and cable lines in the Unit
ed States and Canada, and across the
Atlantic, by an organization in which
the rights of both capital and labor are
to be recognized and conserved. Its
projectors say that they will break
ground within three days after the
stock subscription books are opened
on Sept. Is, and that they will have
100 wires in four cables of twenty
five wires each in operation, between
Boston and New York by Jan. l..
Eventui lily they will extend their lin
es throughout the country They may
combine with the Baltimore q Ohio
Company, but Will not under any
circumstances unite with the Postal
Telegraph Company. They will use
the straight Morse system. The cap
ital stock of the new company IS fixed
at 5000 900, with the right and priyl-
lege to increase it to such sum as is
necessary for carrying out the pur-
pos es of the Company. The shares
are to be of par value of $25 each,
and no person is TO be permitted to
hold more than 100000 worth OF
the stock. The articles of incorpora-
ton provide that the wires in cities
shall be placed underground so far as
practical; that telephone patents may
be purchased and telephone business
transacted; that the term of existence
shall be fifty years; that thirteen trus
tees or directors shall be chosen, OF
whom seven shall represent the citi
zens and six the telegrapher stock
holders; that the Executive BoarC
shall consist of eight members, OF
whom four shall be from each of the
classes specified above that the mair
office shall be in New York City, anC
branch offices in Boston, Chicago
Washington, Charleston, New Or
leans, San Francisco, and such othe
places as may be deemed necessary
that books for subscription shall b.
opened Sept 10, 1888, and that as sool
as 5000, 600 shall have been subscnbet
to the stock, work ON the construction
of the lines shall begin. To guar'
against any selling out of the Com
pany, or any hawking of its stool
about the market, ample precaution
have been taken. Every officer an,
employee Of the Company will be
stakeholder, and thus the Compan,
will be managed and controlled b,
the men who Will do the practica
work upon it. There will be no In
crease in the capital stock, without
corresponding extension of the fran
chise. There caR be no selling GU
or consolidation and by economical
, and intelligent management the rate
of kilograms and cablegrams will b
largely reduced. The corporator
, named in the document are Eugen
OConnor, Chas r. Chute and Thos
w. Greene, of Boston, and the name
of other telegraphers and capitalist
will appear until the number of Thu
teen is reached, which will complet
the directory This viii be done 6
the first meeting. which will be mel
Z at an early date, when the officers wi
be chosen.