New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-06-08
TELEGR4PH CONSOLIDATION

A PRACTICAL UNION OF THE BANKERS AND MER-
CHANTS AND THE POSTAL.
Ii was announced yesterday that practical
consolidation OF the Bankers and Merchants with the
Postal Telegraph Company had been arranged. Henry
Cummin second vce-president Of the Postal Company
said that the agreement merely pooling arrange
ment under which the systems would be operated by
Joint management lie authorized the following official
statement:
The Bankers and Merchants Telegraph Company and
the Postal Telegraph and Cable Company have united to-
Expenses and hereafter tho two companies will be con
Quoted UNDERGONE management The union OF these two
companies brings under one control about 5000 miles OF
pole lines and about 200 miles of wire now completed
and in operation aud there will soon be completed 5000
miles more OF pole line and 81 900 miles additional wire
making total OF 1900 miles OF pole line ana 10000
miles Of wire. The united companies will have under
this arrangement three lines between Newrfork and
Boston; three lines bewteen New York. Philadelphia
Baltimore and Washington three lines between New
York and ChlcagO two lines between Chicago and ST.
Louis; one line from Chicago TO 1T. Paul and Mime
apolis; line from ST. Louis to Kansas City and
Omaha; main line from Washington to New-Oncans
through Richmond, Augusta. Atlanta and Montgomery,
and also line extending from Richmond to Norfolk and
from Columbus 10 Charleston and from Augusta to
Savannah; and second line to Atlanta by way OF Gin
cinnati. Louisville, Nashville and Chattanooga.
one Chicago line runs directly by way of Bnghamton,
Emira aud Cleyeandi another by way OF Albany. Utica
Syracuse Rochester, Buffalo and Toledo: another by way
OF Plttsburg Columbus Cincinnati and TerIc aute; and
two lines between Buffalo and Pittsburg through the oil
regions two lines to Toledo from the main Chicago lines
and line to Detroit One line to Boston Is by way OF
NewIIavcn and Providence; another by way Of Hartford
and another by way OF Albany and Springfield; also
second line from Richmond by way Of Lynchburg 20
Augusta and largo number of local lines in Pennsyl-
Vania. NewYOlk Massachusetts and other localities
This combination also includes complete stock quota
ton ticker system, nOwl ia operation In this system
he McDOnOugh being recently granted priority OF In
vantiOn BY the Patent Office over the Be-the whole
forming complete system of land lines and necessary
aduucts which will be operated i'll connection with the
Beunett-Mackay ocean cables
In this arrangement between the two companies.
neither assumes becomes responsible for the fixed La
btes OF the other but their joint control and manage
will be composed Of the best talent and the financial
strength Of both companies The expense Of operating
will be reduced nearly possible TO the cost OF run
ming company, while the business VIII be extended
to the fullest capacity OF the united lines and run with
the greatest possible economy And nasmuch these
lines reach nc least 50 cent Of all the paying tcle-
graph business Of the country. and ~ allied with the
great Atlantic cable system Of the Commercial Cable
Company having connections throughout Europe. they
fail to be- maintained dividend paying basis.
the purpose of tho united company To 10 the
country cheap and reliable teegraphv and 10 relieve the
public from the present and eXOrbtant charges
incurred upon Geographic, telephone, and quota
ton business.
In accordance with the agreement the Postal Tele-
graph Company has given control OF the direction
Of the Bankers and Merchants Company.