The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-08-12
The b. \ O.'s Second Shot.

WEST END, LoNG BRANCH, Aug. H.
eyes, L have read over tho advance
copy OF DR.. Green's communication
to tho press, giving tul text of the
correspondence between Peuder,
Field, Geeen and Gould, and am
struck with the fact that nowhere is
Mr.. Garretps actual language used,
and what he has said has apparently
been worded by others, whose inter-
ests, doubtless, caused u high color to,
bg given to tho statements,n was the
starting statement in an interview
with ID. II. Bates, president of the
Baltimore e Ohio.
DR.. Groen says his company is not
willing to buv any moro lines, except
at cost, etc 1t is not intimated, how
ever, that tho Western Union can af-
ford to buy any more lines. Their
June official statement showed an
amount advanced To construction of
$1,000 600 in excess Of their surplus, but
where this excess came from is q Sc
cget. They have either borrowed the
money or sold assets. Their last pub
lished statement of assets showed little
left but telephone stocks, which
are lower IN value than year ago, and
careful experts fixed the valuo then at
less than $4,000,000. Where the money
would come from TO buy the Baltimore
N OHIO h not clear. It could only be
d7ne by issuing additional securities,
bat q comparison of net earnings now
and in 1880 is interesting.
lsSJ-Cspital, $40,000,000
Mileage, $4,000 miles OF wiro.
Net receipts, S5,40O,0O0.
1885 Capital, $50 100000.
Mileage, 4G6,0J0 miles OF wire.
Net receipts, S5,610,000 twice the
capital, double the mileage, the Same
published earnings
Their securities, If issued, would
probably not be acceptable TO Mr.. Gar
| rstt.
Now tha! the public can
read the entire correspondence
1t must be 0vldont, except % those
who are willingly blind, that tho Bal
timore & OHIO has not, in any case,
been seeking eu arrangement, brl
| Field end PepGer have felt tho greatest
anxiety. The most remarkable thing,
| however, lie the expressed belief on the
| part OF JAY Gould and DR.. Green that
the Baltimore IL Ohlo is losing
$4,000 monthly, when they are In
| possession OF Mr.. Garretps aud my
sworn statements, in some Of the nu-
merOus harrassing suits against that
company. We have not been, and are
not losing.
DR.. Green says: "Garrot's cable
card arraigns his (Greon's) company
for misrepresenting their po5ition, and
puts them on the defensive, When they
have told nothing"
He must certainly have read tho pa
pers the past month, containing state
monts attributed 20 persons In his
fuilding, asserting, with great posi-
uyonoss, the fact of an agree
ment botweBn tho two com
panies having been reached
Tho idea that we should allow our
books TO bo examined by the Western
Union officials is rich. They already
appear so confident OF the fact of on
losing money, it's strange th6y shoulC
consider sharing our losses. Mr.
, GOuld's insinuation that genera
J air Of bankruptcy hangs over tole
graph properties may be true Of hi
} company, but he is not as familiar
with our figures as he must be o
others, and tho shrawd banker whos
opinion ho words has not obtained
ffom mo information as to our hnan
cial standing and arc apparently to-
GrddulOus To command universal con
iidonce IN their judgment.