The Portland daily press., 1884-02-04


Prominent among those who went into
the enteip prise in its early days may be mem
toned Alexander Cochran and G. P. Bow
ditch Of Boston, and Thomas Sanders OF Ha-
yerhill. a gentleman well informed in TINS
matte, tod the writer these gentlemen mad
considerable wealth when they first went in
to it and only put in portion Of their mon
ey.
81 tell you, it was mighty hard sailing in
those days." continued the gentleman, "but
Sanders had pluck and perseverance, al
-though he did not have so much money TO
invest in a speculation which might win or
lose, but the wave of success when it struck
the company picked him up with great
many more, and Sanders is to-day worth in
the vicinity of 81, 800 900 or 50 000, 900, while
Cochran and Bowditch are worth something
like So 100000 apiece.
o. e. Madden, who is now assistant gem
eral manager, came to Boston from New
York. where he was acting as agent OF the
Domestic sewing-machine company. his
business it was to select the licenses for the
telephone company, and he has used such
discretion in this, in all parts of the country
that the success of the company is largely
due TO his Judgment. And he has been fair
ly rewarded with such opportunities that he
possesses from $500, 1000 to $500, 000
The gentlemen connected with the South
| eth Massachusetts telephone company have
made good money fast Those most heavily
| interested are ex-Congressman w. W. era
| pc, Charles J. Clifford, and William Ivers,
| all of New Bedford. Their original invest
ment was something like $4,000 or $4,000,
| and they could easily take out from $4,000
| to$1 900, 900 if they wanted to sell out.
| Other pioneers 10 the telephone business
| were George w. Piper and Albert P. Sawyer
| of Newburyport, who were connected with
| Charles Sanders of Salem and A. D. Swan
| and Mr.. Knox of Lawrence in the Essex
company. All these have now Withdrawn
| from the company, and they have probably
taken out from 100000 to $4,000 apiece.
| There were Charles F. Cutler and Joel G..
| Clark of South birmingham, who are inter
| ested largely in the Bay State company, from
which they took out large sums of money
when they withdrew, only to invest in the
business in Pennsylvania, where a fortune
| awaits them.
Then there is the Lowell syndicate. Ths
/ principals are Charles J.. Ghdden, William
| A. Ingham and Loren T. Downes, although
| A. A. Coburn and William FL. Bent have
| been connected with the so-called syndicate
for the past year or two.
Before the New England consolidation
| the syndicate had control OF the stock in tht
/ companies which controlled the whole terri
/ vi VI 4aaihS, 4NCW v clHuuu
| and large portion of Massachusetts, be
sides being the heaviest owners in the terri
| tory which comprises the whole of Texas
Arkansas and Minnesota, and portion o.
| Dakota and Ohio. OF these men Mr.. Gid
den was telegraph operator and started the
telephone business by getting the right fol
Lowell, and out Of this has grown all thu
| business of the so-called Lowell syndicate
Mr. Ingham was Successful grocer, ant
was worth perhaps $4,000 or $40, 1000. H.
| furnished the first substantial aid to Gid
den. Mr.. Downes was the chief operator il
the Atlantic and Pacific telegraph company
in Boston. The street credits Glidden ant
Ingham with now being worth $1,000 00t
apiece, with perhaps three-quarters of a mil
lion for Downes, while Bent and Coburn art
supposed to be worth in the vicinity o.
| 100000 apiece. Mr. Cobnrn was banl
cashier in Lowell and is still. and Mr.. Ben
| is a lawyer in successful practice Three
of these men have recently built eleoan
residences on the same street and close t.
each other, in Lowell"