The times. [volume] (Richmond, Va.) 1890-1903, 1892-11-09
IS NOT YET ABSORBED.
rgx POSTAL TELEGRAPH oOMPASr
HAS NOT, ~ RUMORED, SOLD OUT.
Mr.. sydner, the Richmond Manager Bays
There 10 NO Truth Whatever In the
Reported Consolidation.

Rumors have been rife OF late concern
ing a consolidation of the Postal Tele-
graph Cable Company with the western
Union Telegraph Company. Such rumors
have broken out from time to time with
out any color Of probability, but when II
became known that the board OF direc-
tors OF the Western Union has author
lied an increase OF its capital stock to
the extent OF sl3,SO0,OOO, 1t was thought
to be for the purpose Of buying THE
Postal"
This swells the aggregate capital STOCK
OF the Western Union TO an even nun
dred millions of dollars. The charter
OF the Western Union stlpulates that new
lines and acquired lines shall be paid
for out OF the sale of capital stock, and
not otherwise; hence the belief referred
to.
The stock OF the Postal Telegraph Com
pany and Of the Commercial Cable Com
pany, which is a part OF IL, Is owned
principally by Mr.. John w. Mackay and
Mr.. James Gordon Bennett. These two
gentlemen having arrived in New YORK
from Europe-Mr. Mackay, several weeks
ago. and Mr.. Bennett, about two weeks
ago gave still further color to the
rumors being circulated by stock brokers
and others, evidently for speculative pur-
poses.
The Postal has been one OF the most
powerful competitors Of the western
Union since the absorption by the latter
of the American Union in 1881 and the
Baltimore and Ohio a few years ago.
Since 1879 the Western Union has abb
sorbed these telegraph companies: the
Atlantic and Pacific, the Continental, the
American Rapid, the Bankers and Mer-
chants and the Baltimore and Ohio.
The Postal Telegraph Gable Company
was organized in 1882 and reorganzed in
1885 by John w. Mackay and James Cor
don Bennett. The total wire mileage OF
the Postal Telegraph Cable Company in
the United States is $4,000 miles, with a
route mileage of 81 500 miles. The Gable
was completed in 1856. The present Gable
mileage is 6,935 miles (nauticaD, with two
conductors. The main sections are from
Nova Scotia TO Waterville, Ireland, one
being 1850 miles and the other 2,3SS miles
long. There are two shore sections, the
first consisting OF $40 miles from New
York TO Nova Scotia and 523 miles from
Rockport TO Nova Scotia. The second
shore section Is from Ireland 10 Eng
land, S2S miles. and from Ireland to
France, sos miles. The company also has
connections with every country In the
world where the telegraph system Is in
use.
In this country 1t has Offices in the fol-
lowing States: Alabama, California, Col
orado. Connecticut, Delaware, Georgia,
Illinois, Indiana, Iowa, Kansas, Ken
lucky, Louisiana. Maine, Maryland. Mas
sachusetts, Michigan, Minnesota, Missis-
sippi Missouri, Montana, Nebraska. New
HAMPSHIRE New Jersey. New York. North
Carolina. North Dakota, Ohio, Oregon,
PENNSYLVANIA, Rhode Island South Caro-
lima, Tennessee, Vermont, Virginia Wash
ingtOn, West Virginia. Wisconsin. It's
remaining territory in North America IN
Guides the District Of Columbia, British
Columbia, Manitoba, New Brunswick,
Northwest Territory Nova Scotia, on
tario, Prince Edward Island, Quebec.
The Commercial Gable is the ocean
cable part of The system, and, therefore,
one with it,
The Postal has a well-equpped Office
I'm this city, under the efficient charge OF
MANAGER Carroll T. Sydnor, and the ser
vice has been OF the most satisfactory
character to the business men Of Rich
mond l saw Afr. Sydnor to-day, and
asked him about the reported consolida-
ton He said: You may assure our pa
irons and the public that no consolidation,
purchase, or any other arrangement, by
which the Postal Telegraph Gable Com
pany ceases 10 be an absolutely indepen-
dent and competing telegraph system, has
been made or is contemplated"
Being asked as 10 the condition Of the
Postal, he said:
1.-The Postal Company has during the
past five years had an unprecedented
growth. 1t has pursued a buslness-like
and straightforward policy. 1t has not
only greatly improved the handling of It's
own business, in speed, accuracy and
form. but II has made it necessary for its
great and only competitor, the western
Union Company. to adopt similar methods,
in order 10 hold business. All this Is
greatly in the interest Of the public, when
has hitherto recognized these facts, and
has favored us with a liberal patronage.
We are striving 10 retain and 10 increase
this by the merit Of our work, not by
tricks. I'm rates and rebates. which mean
certain ruin, and we rely upon our iriends
of the past, and the public In an us
branches for its continued support
The Richmond public will be glad 10
know that this popular company Is not
food for the Western Union octopus.
The Times cordially Acknowledges the
valuable service of the Postal on more
than one occasion, and is indebted TO this
company for its splendid special election
returns from all parts OF the Union In
this Issue