The daily gazette., 1883-08-31
rHE NEW LINE.
Prospects of the Proposed Oppoaltion 70
the Western Union.
= E1Raa I

Prospects of the Proposed OppoAhttoh '"
the Western Union.
tAIbany Press.l
The first thought, after contemplation
of its disarrangements, which occurred 70
many minds was that the opportunity was
presented of organizing a telegraph com
pany which could not be absorbed by the
Western Union. This was to be accom-
plished by the establishment of co-opera-
tive association--by the conjunction OF capt.
tai with labor. II was thought that such
movement would draw to II all the expert
telegraphers Of the country which would
give the new company great advantage In
the start; enlist and tasten their personal IN
terests; and secure sympathy and patronage
from all quarters. As to capital, that has
stood ready, for years, to be invested In tie
business, as has been seen by the organiza-
ton and starting of numerous competing
lines.
This thought which occurred so early in
the present outbreak of difficulty has al
ready taken form, as was seen by our dis
patches from New York yesterday. The
project originated with Mr.. John d. Cutler,
a wealthy silk manufacturer, and is said TO
have the support OF the Thurbers and other
wealthy merchants who organized the anti
monopoly association. The plan OF organi-
zation is as follows:
1
| purpose of securing telegraphic facilities for
| merchants aud the press, which shall be i'm
partial and inviolate, and which cannot be
sold out, consolidated or fall into the han Ii
of speculatOrs.
The capital is to be $40, ,0O0, 900, TO be con.
tributed by 50,000 members, at 300 each
When 10,00p members are secured, organi
zation is to be effected. Subsequent appli
cations Tor membership are to be approved
hy the directors. The membership will no
| be transferable. No assessments upon tn
members will be made, and here will be NJ
liability. Each member is TO receive an
nually a frank for telegraphing to tn
amount OF $40 per annum on each share, tn
franks to be transferable from those who d.
not use the telegraph TO those who do. tn,
frank will practically be a ten per cent. div
idend on each share OF the stock, avatiabl
from the beginning of the association
J operations, either In actual teegraphing o
in cash on the sale of the frank. ln the cas-
of the death of a member, during tn
, first fiscal year, the cost of hi
share is to be paid to his heirs
After the first year the death pay
} nent shall be the actual value of tn
shares, as shown by the last annual repor
| Of the Board of Directors. Whenever sue
value shall not exceed $500, that is wher
ever the accumulated surplus of assessmen
g | does not exceed 10 per cent. on thS capita
the .ieath payment for the year shall be $3O'
Y when it exceeds 20 per cent. the death pa.
nent shall be S400, and thus, for each
per cent OF accumulated surplus 500 sha
1 BE- added to the death payment.
e The details of this plan are, reslly, Il
8 strongest part of it, Under them the $40
n 900, 900 will oe as serviceaDle as If the CAP
:, tai was $4,000, 600. With good busine
hanaUement IL is difficult to see how this 4
testment can fail. II it succeeds the tel
graph problem of this country will be solve
Is There is, or will soon be, business enough
g support handsomely, two great compani
:, IKE the Western Union, and no one W
u over think of asking the Government
ir take charge of it, If this cooperative moV
g nent succeeds.