Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1884-05-23

WESTERN UNION TELEGRAPH
A monopoly that shOuld bs broken p.

n
The report of the Senate committee on
postofices in relation to postal telegraphy,
states that the cost of mercantile tele.
graphing is no doubt increased by the
stock watering and leasing OF lines by the
| Western Union company. The actual debt
Of that company as capitalized by the
committee, is 800, SIS 900, and the sum
required for dividends is almost &c 600, 600.
1t also pays 800, 900 for Atlantic cable
service, 1901, 900 for Cuban cable service,
and for the gold and stock company, which
is total of sl,lOO,00O, and capitalized
represents nearly sl7, 900, 600, or a grand
! aggregate OF about sll3, 600, OO0.
While in some cases the leased proper
ties may pay well it is certain that the
! price paid by the Western Union in its
stock for competing lines was vastly in
excess of either the cost or earning capac
! lty OF the property acquired. There was
nothing in the information furnished To
the committee to warrant the issue of
stock dividends TO the shareholders be.
tween 1867 and 1888, both inclusive, to the
amount Of S3i coo, 900, all in addition to
| the regular dividends Of s2j 900, 600 The
! company claims the use Of i3l s2S miles Of
| wire, but the committee was assured that
| all the work could be done as we'll with
! $50 900 miles of wire, which, a. $40 per
mile, would Indicate a cost of S24, 500 900
to reproduce lines equal to those con-
troled BY the Western Union.
The capitalization of the company is
thus shown te be enormously excessive
and it has undoubtedly had the effect of
raising the prices Of telegraphug beyond
reason and to the detrment of public in
terests. For this and other reasons the
committee thinks the monopoly is dan
| and nnnT9Eaiya and Ehnnll ha
; broken up. The report covers bill for
the establishment Of postal telegraph
system, and supports the act with quota
tions and opinions TO the effect that the
government has plenary powers in the
; matter. The committee Is confident th at
D / no injury will be done TO any citizens be-
r yOud curtailng extraordinary profits,
while the nation will be better aud more
cheaply served.
SIR GOwen Explains FOR heading.
EX.PTesident Gowon, of the Philadelphia
D y Reading railroad company, in an
interview concerning the affairs of that
r corporation says that the scrip, which the
. company will issue soon, is to pay the
laborers and the miners. For the former
i 1t will be for three months with interest
n added, and for the latter for thirty days
z with interest. Both will be for wages
scrip is only made for thirty days, TO meet
q provision of the law which prevents
j mining aud manufacturing companies from
o Issuing scrip for the payment Of wages ex
- tending over greater period than thirty
9 days. Mr.. GOwen said that workmen
could get cash for the scrip, one party
having already agreed to take one fourth
Of the entire issue. IIo stated further
that the company had to pay out in June
o and July for rentals aud interest about
q 50, 700 900, and that it was necessary 10
husband its cash In hand and to retrench
in order to meet these payments promptly
and that the relief afforded by the issue OF
{ scrip and prOmissory notes will amount Ia
81, OOO, 600 more In cash than is needed 10
= make the heavy payments of June and
July.
Perpetual Motion
B General Mason, the father of James NJ
. Mason, had customer who was engaged
in discovering perpetual motion. This
customer had means enough to warrant
; the bank In lending him some hundreds
OF dollars on repeated applications
n Finally the man came TO General Mason
n and said 81 want to get about three
ia hundred dollars more on my note. | an
satisfied that have come 30 near discover
u ing perpetual motion that with this
" trouble you no more" Jimmy" said
n General Mason, 'dOn't you think that
10 compound interest for money is as neaI
10 perpetual motion as anybody can eve
r. get >"
" Tho Virginia Elections
Ia Municipal elections were held In cite
" in Virginia yesterday. In Richmond Their
10 was but little interest shown. All tn,
= Democratic city officers and membsrs O
ts the city council were elected without oppo
! sltion. In Norfolk the Democrats electe,
>, tho mayor and members Of common coun
u Gil, but the remainder of the tick ct |
10 doubtful. In Portsmouth the Democrati
'. ticket was elected. At Danyille the eIec
II ton passed without disturbance, and tn
- Democratic candidates were elected. Gov
" Cameron was in Danville nearly all day.
D. Mayor johnson was hanged In figy acros
the main street,