Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-02-02
IT HAS COME TO STAY.
IT WILL FIGHT THE WESTERN UNION.
The Remarkable Strength Of the Company
With its Newly Acquired Lines
Shown-GoulGs Little Bluff
Wont Work This Time.

BALTIMORE, February l.-Mr. Robsrt
CARROTS attention vas this morning called
to . special telegram from New York,
stating that Jay Gould, when asked IL the
new additions to the b & D. lines would
have any effect on the Western Union,
stated, None whatever" and also eX-
pressed the opinion that the Nickel. Plate
lines did not pay expenses, and that in fact
the d. & o. people would get nothing for
their money. Mr.. Garrett replied that he
had seen the telegram referred to. and was
rather surprised 10 see Mr.. Gould depreciat-
ing good properties at this time, especially
rs he has been very recently In the market
as bidder for the Nickel'PIa,e line and
pIenared - pay a large sum for II.
glad 10 get an opportunity to say a few
things to you about telegraph p o Serties IN
this country. was asked by Mr. Gould
10 become Q director in the Atlantic aud
Pacific property. and, be ore deciding not
TO become one, went carefully over the
books Of the concern, and
lt will Probably surprise the Pabitc
TO know that the total amount OF cash put
into the Atlantic Pacific by Gould and his
friends was less than q million OF dollars.
Mr.. Gould afterwards sold this property to
the Western Union for, l believe, $g,0D,.
W0. | did later on become director in
the American Union Telegraph Company.
This property cost, believe, about 81 OOJ.-
OOD, slthough some additional sum in
money may have bsi turned
over TO the Western Union when IL pr.
chrsed the American Union Company Ior
iiteen millions, aud upon the acquisition
Of these two most valuable properties, extra
Ia. l. Il. -. az. a
was declared. In other words, about fi0,-
CCO,C Geo Of Western lnion capital TO day 10
represented Ivy casheXpenditure Of s. 600.
ONO. Since that the We1tern Union has
guaranteed, | believe some SinOD0,00 OF
lhe bonds Of the Muiusl Union Company,
and have never heard Il asserted that the
I Ce Of those bonds
went into the Property.
They have, believe. also guaranteed the
sock OF the Mutual Union, thi, latter con.
Germ, undt rsiand being largel, composed
OF turnpike lines. They have also euArAn-
teed five per cent upon fourteen millions
OF cable stock, thus throwing on the Wcst-
elm Union the burden OF paying the inter.
es on seven millions OF uneIpended money
1 know about the cables because was
IL terestsd in them. Mr.. Gould stated,
when the Atlantic and Pacific was started,
through his sSsncies that the Western
Union Telegraph was the most vulnerable
property In the United States lie further
said later on, that a mistake had been
made about the Atlantic and Pacific lines.
that they were inferior and for this reason
he had sold out, but, he taid, at a price
which put Western Union In siili ore
vulnerable po,itlon than Il ever vas be.
fore"
Now, / say" said Mr. Garrett. ~ was
vulnerable sud proved 10 be 30, Tor by tie
expenditure OF sbou. four millions Mr..
Gould added about thir.y.one sid'tonai
millions " the stock OF Western Union. l
don't understand how, today, even slloS.
ing considerably for tho growth OF t.ls.
graph business in this oououy, the
Western tLion ~. ~ Mr.. Gonld says, the
sti osgest Telegraph Company IN the
WoFkA.
Seveuty.fve per cent. OF the entire busi.
meas Of the Western Union ~ to-day, or IN
very short time will be, subject 10 our
active competion. Whilst Mr. Gould is
running down the value OF properties I
suggest you ask your reporter to ask him
how much OF the debt OF the Wabash he has
wedged In ahead OF the stock, and " he was
not = short time AGO advising people 10 buy
Wabash stocks, which have since dspre-
cisttd so enormously. with Just as much
energy and activity A. he now displays In
advising people throughout tho country 70
buy Western Union
II am informed by the most csmpst'Dt
authority that OF the country rom wbich
the entire revenue OF the Western Union
Company. including foreign cable bust
ness, is derived, ~ per cent. ~ 10 dsv GOV.
esed by the Il. 4 o. lines. An additional
fifteen per cent is covered by the lines VI
the West Shore and Sicklc Plate, which
we have Just acquired, and Al additional
ten per cent will be covered by the line
between Eoston and New York, which We
are now actively engaged In pressing for.
va rd 10 completion
II say" continued Mr.. Garrett. that
the stock Is - weak - water-i. g., ~ water
can make II: and instead OF being the
'.rony''t rrorerty, ! sgree With MI
Gonlds logic, that 10 ~ the weakest prop.
srty 81 the Kind In the United States.
On the OsIses nssd
the B. & .. Company, with lines reschipG
H.. leading cities from which the tels-
,r,I hic business 10 derived, which today
reaches the greatest number OF these
citiss,, has only 70 bring additional wire:
10 maize It's lines thoroughly effective, and
which is not being weighted down with
non phying lines, expects 10 derive sstis
factory revenues from 10 telegraph invest.
mFntS.
In conclusion Mr. Garrett said:
we regard Gouid ass very strong and
able man, snd ye, there seems little ten
dency 10 jealousy on his lars In rsfsrspcs
10 our entering the 6eId for telsgisphie
business. in fact, he ssnt us word, two
years sgo, thst II We entered the held
he wosld punish us; End be bed the chesk
20 ask the owners Of the Ohio snd hissis-
sippi property To put thst propsrty In bis
hands-i. O., Ia the hands OF the Comp
noIler OF ihs WABASH systsm, which 10
directly a. tseonistic TO snd Q competitor
for The o n Ms bnsinsss. He I'D not
succe, IN 4 ttiDg the o. 3 - stockhoIdsre
20 tsks hIs siew VI the case, nor IN pnnisps
ing -, bat st the same tims," aid NJ.
Gsrr,u, we hsvs no feeling in The mstkr.
IA. <.,ly dSstra In N aalnR thu HNIA laiHlV.