New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-07-05
MRGOULD ON WESTERN UNION
NO COMPETING LINES WILL BE BOUGHT UP.
RATES BEING REDUCED ON GENERAL PRINCIPLES
NO SETTLEMENT PROPOSED.

RATES BEING REDUCED ON GENERAL PRINCIPLES
NO SETTLEMENT PROPOSED
An hours ride on the New-York Central
Railroad aud drive from the lrvingon station along
Broadway, past tho handsome country homes OF many
prominent New-Yorkers. brought reporter OF THE
TRIBUNE to Jay Goulds stately summer mousse yester'
day. The Object OF the secure an authorta
tive statement regarding the truth OF many rumors
respecting the estern Union Telegraph COMPANY
aud Its rivals which have been circulated OF late'
Mr.. Gould left the city on Saturday, accom-
paued by Russell Sage. who will be the formers
guest at Irvington until tomorrow. Both gentlemen
were seated in the cool and pleasant library which mas
fine Wow Of the Hudson and beautiful western Shores
when Mr. Gould invited his visitor in.
In reply 10 inquiries to the reported negotiations
for a telegraph settlement Mr. Gould said: u nave
not seen Dr. Green General Eokert since Friday put
up ito that tmo there was no truth In the stories
think we through with buying up competing lines
we have paid enough taxes In that way and are Wiling
to let some else pay them"
It said tpat the negotiations either started or
completed In Europe" was suggested.
There Is nothing whatever iu that" Mr.. Gould re-
joined. "There Is In Europe who is authorized
to act for the of Western Union. 1t would be
singular II thing should bo done there the prnc
pal owners and Interested persons are here In New
YORK. Mr. Garrett, am informed, has gone to Europe
81 the advice Of his physicians to seek the waters Oh
Carlsbad No, have obtained the control OF Batl-
more and OHIO and am not seeking it. thnk that any
increased value In Western Union stock moro probably
would from the fact that the officers
and directors have fully decided that they will
not buy up any competing lines. II we did so
1t would only encourage another crop OF competitors
that would want TO sell themselves out to u.s. Yes we
resolved 10 let tnem work out their own ends inde
peDdently OF course II the growth OF business should
demand enlargement OF our lines we would be will
ing buy other companies If could do so more
lv thau In lny nrW
would be tie sole consideration with us-a purely COM
merci outside OF the value that others m1ht put
upon their property. We have not made reduc'
tions IN with reference to other interests They
have been male as part OF our geherai "u'-
mess policy. Tho Western Union has never
advanced rates and there has been
for years a steady reduction IN them We have found
there has been heavy increase traffic with lower
Rates and business has heen encouraged py reductions
that receipts have made for the loss In
gross The reduction IN cable rates was an exper
ment. it early yet say whether the net re-
suits Will be a. large before the reduction.
We acting in this mltIer' added Mr.. Gould, on
the policy that governed tho elevated railroad
lines First extended the commission hours; then
took tho two outside lines 10 try the expert
ment OF hve-cent fares upon. and now we
running trains the Second Avenue
nne al five cents up midnight Our idea is to see
what cncouragement the puzzle VIII glye tue way "l
Increased business to lower CHARGES Yes, 50 lar tue
. Has any syndicate any capitalist bought your
Western Union stock made Offer for 1t, as soc oi
the rnlnOrs allege T.
"No, sir. am not prepared TO part with any or my
stock. nave sold bought "A share or western
Union since January for that matter. or any stock.
am out Of the street. and nothing whatever could a'
duce me 10 so hack inlo IT,
Mr. GOuil asked respecting the further reduction
saii cOntelp aei In land fee graph rt,es "Rates
pretty now he replied with smile. and tnere
ow t.rlf wherever think we can afford Ia
do and not month passes but what we make some
reductOns'
rates viii m many cases be radically lower tnan they
no~ /"
belrve the question has been discussed by the
officers do thiuk that any decision mas oeeu
| reached"
Alter brief pause Mr.. Gould continued at Is curious
that OF the OppOsitiVn nave been wearing out
50 much leather IL trying 10 get us
| 10 buy them ont. This suii oI tue BANK
| ers and Merchants for S2.O00.000 damages
that after had to head tle people BACK Of IL
were an XlOus take t1elr interest We were
of red The lawsuit along with the Unted states prop
erty only "A short time those prope wanted Us 70
propcrty-and thr awsut Ii was only two lays before
Mr. ugrrsolis great speech (Nr Could lali an OBJ
vIuu. en- phasls tho word great that he talked the
matter over with Mr.. sage aud General EoAert ahu
p1bcly about this but guess it will do no harm To
| mention H. Will II, Mr.. sagrI' --,. .
| "Oh, no." replied Mr. Sage. "lt IS an interesting
noiot "a TO how Jury will look suit for S20OOOOO
dnmages the or the property want 10 sen
IL out for 81 200 0OO goodwill, law SUIT aud all Aud
| Mr. sage was olned IN "A hearty laugh by Mr. Gould.
40 those OF VINO on the inside, added MT.
Gould ME- fngersOlrs speech had different sighlh
canoe the public. But we are not Duyiny any
more telegraph lines. you may Oe sure.