The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1883-10-13
President Green's Report of the
Western Union.

NEW YORK, Oct. 1O.-The annual
report of President Green of the
Western Union Telegraph company
shows the company to be in very
fiattering condition financially. The
company holds securities in various
telegraph, telephone and other COM
panies, the market table value of
which is now $40, ,OOO, 900, and accord
ing to the report most OF
these securities approaching
rapidly in value. These securi-
ties do not represent the stocks in the
telegraph companies leased to the
Westeln Union company, as most OF
these are owned by it aggregating
some $l2, 600, 900 or more. The COM
pany has $432, 726 miles of wire and
2,9l7 officers Forty million, SIX
hundred aud eighty -One thousand,
one hundred and seventy-seven mes
sages were handled during the year,
the receipts from which were $l9, ,454. :
9Ol.OS, against $l7 Ia. 1852 for last
year. The expenses for the year Just
closed were $l1 1914 ,553, leaving net
profit of $1,000, ,649.53. The report
calls the attention to the growth and
increase OF the property and business
OF the company since January, 1866.
During this period the lines have in-
creased four fold with nearly six
times as much facilities and six
times az many offices, handling
seven times as many message, earn
lug three times as much gross revenue
and making three fold as much net
profits in one year, Notwithstanding
that the average rate per message to
the public has been reduced from
147 cents in 1866, to 68 cents in 1888.
The past year exhibits an increase OF
IL, 234 miles of lire, or about 10 per
cent, and of So, ,358 miles Of wire, be-
ing 159 per cent. over the previous
year, while the earnings show an
increase of $234 ,O93 7O6 or about IA
per cent. and the net profits an in
crease Of S54, ,227 $50 or about 8 per
cent. over any proceeding year. The
increase of $l79, ,845, 758 being Is per
cent. on gross expenditures, is be-
cause of rentals paid for American
cables, CUBA cables, and Gold q
Stock Telegraph Co. All rentals paid
by the company being charged in the
current expenditures while these
were paid for only small per cent.
of the preceding years percentage
was lost ope a:ing land lines expendl-
lures have been steadilyreduced. The
company is pursuing the policy OF
steadily reducing rates to the public
and has reduced rates 25 cents mes
sage to and from New York City un-
til that rate covers a larger area than
is embraced in the whole of Great
Britain. Net earnings for the year
were over 8 per cent on the capital
stock on above fixed charges and
this the management believes
would be considerably In =
creased for the current year. In
c. Inclusion the president congratu
lates the stock holders Oh the success
full ending Of litigation against the
company and says it only remains to
be determined to what extent per-
sons who have maliciously tried to
embarrass its operations and depre-
ciate it's property can be held an
sweraLle to the company for less and
damages it has thereby sus stained.
The following board of directors
was elected, 624,17O shares being
voted upon out of a total OF 500 600:
Norvin Green, Thos. Il. Eckert,
John T. Terry. John VanHorne,
Augustus Schell, Harrison Durkee,
jaw Gould, Russell Sage, Alonzo B.
Cornell, Sidney Dillon, Cyrus w.
Field, John Pender, NJ. p, Henry
Weaver, Percy r. Pyne, Robert Len
nox Kennedy. Hugh J Jewett, J.
Pierrepont Morgan, Fred l.. Ames,
John Hay, VIM. D. Bishsp, G. H
Huntington, Geo. b Roberts, Frank
Work, Samuel Sloan, Erastus Wy
man. John J. Astor, Geo. J. Gould,
Chauncey NJ. Depew, James " w.
Clendenin, c.. G. Baldwin. The
changes are John Hay in place OF =.
D. Worcester and Frank Work in
nlace of Z. G.. Simmons.