The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1886-07-06
TELEGRAPH TIPS,
rHn WIZARD OF WALL STREET
Interviewed on the Western Union Telegraph
Company and tho Baltimore q Ohio Re.
dpetioRs in Toll Soon to Come-Facs,
ti0ua Talk on y Recent Law Suit.

NEw YoRK, July 6.-An hours ride on
the New York Central brought a reporter
TO Jay Gould's summer house to-day, The
object Of the visit was to secure an author
itatiye statement regarding the rumor re.
specting the truth Of the many rumors as
to the Western Union Telegraph and its
rivals which have been circulated Of late.
Mr.. Gould left the city on Saturday, aC-
companied by Russell Sage, who will be
the formers guest ut Irvipgton until Tues.
day. Both gentlemen were seated in the
cool and pleasant library, which has ine
view Of the Hudson and It's beautiful west.
ern shores, when Mr.. Gould invited his
visitor in,
In reply to inquiries as to the reported
negotiations for telegraph settlement,
Mr.. Gould said: " have not seen DR..
Green or General Eckert since Friday, but
up TO that time there was no truth In tine
stories. Think We are through with buy.
ing up competitive lines; we have paid
enough taxes in that way, and are willing
to let some one else pay them"
ut is said that the nego iatioas are
either started or completed In Europe"
was suggested,
"There Is nothing whatever In that"
said Mr.. Gould, "rhere Is no one In
Europe who Is authorised 10 act for the
owners Of the Western Union, II would
be singular II anything should be done
there, as the principal owners and inter-
ested persons are here IN New York. Mr.,
Garrett, | am informed, has gone TO Eu.
rope at the advice OF his phyalClans to seek
the waters Of Carlsbad, No. have not
obtained the control OF the Baltimore &
Ohio, and am not seeking it. Think that
any increased value in Western Union
stock more probably would come from the
fear that the officers and Directors have
fully decided that they will not buy up
competing lines, II we did 80 II would
only encourage another crop OF competi.
tors that would want to sell themselves
out to US. Yes, we are resolved to let
them work out their own ends indepen-
IDENTIFY.
GROWTH OF BUsINEss
"of course II the growth of business
should demand an enlargement Of our
lines We would be willing to buy out
other companies, II we could do so more |
cheaply than to buy and string new wires.
But that would be the solo consideration |
with us-a purely commercial one, outside |
Of the value that others might put upon
their own property. We have not made |
reductions In rates with reference to other |
interests. They have been made as part |
OF our general business policy. The West
ern Union has never advanced its rates,
and there has been for years steady re.
duction. We have found that there has
been heavy increase in traffic with lower
rates, and business has been encouraged
by reductions, and our increased receipts |
have made up for the loss in gross rates. |
The reduction In cable rates was an ex. |
pertinent, but 1t Is too early yet to say |
whether the net results will be as large as
before the reduction.
We are acting In this matter,n added |
MIR. Gould, "on the same policy that has
governed the elevated railroad lines, First
we extended the commission hours, then
we took the two outside lines to try the |
experiment OF 6.cent fares upon, and now
we are running trains on the Second |
avenue line for 5 cents up to midnight.
Our idea is TO see what encouragement
the public will giyein the way OF increased
business to lower charges. So far the 5.
cent experiment has been favorable"
HAS any syndicate or any capitalist
bought yonr Western Union stock or
made an offer for it as some Of the rumors
allege2'
"No, sir. I am not prepared to part
with any Of my stock. l have not sold or
bought share Of Western Union since
January !, or, for that matter, OF any
stock. am out Of the street, and noth.
ing whatever could induce me to 60 back
into It."