New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-14
". Z. BARS RACING NEWS.
Board of Directors adopts Recon-
mendation of ErecutiUc Committee.

The board Of directors Of the Western Union
Telegraph Company yesterday approved recon-
mendation. made on-July y last by the executive
committee OF the board. that the company entirely
discontinue the collection and distribution OF horse
racing news.
The action taken yesterday provides that mes
sages containing horse racing shall be handled
by the Western Union company only when fled
at regular office Of the company, and is aimed to
put an end the special racetrack wires,
which news for in the promotion Of gambling
might he obtained by poolrooms
The recommendation of July 70 follows:
Whereas This company under an order issued
by its president on May is. 1904 has directed the
cessation OF the collection Of horse race reports.
whereas It is claimed that the distribution of
horse race reports still continues. Notwithstanding
Resolved That it is recommended to the board
of directors that the Offices of the Western Union
telegraph Company be directed TO cease the trans
mission Of any messages containing horse re-
to a reEuiar once f the company for transmis-
the company or for delivery in such other man
ner as the president Of the company shall authorize
over his signature
The resolution adopted yesterday was:
Resolved That the minutes of the executive COM
ittee he approved and that the resolution Of July
Z De carried into effect.
President C1owry presented the following state
nent of the condition of the company at the close
of the quarter ended June so, 1905:
Surplus April /, 1905, per last quarterly
Net revenues quarter ended June 80 1908 i70loos s.
Total S17.522 $50 so
From which. appropriating for
Dividend Of X per cent. paid
aIs 9lg % On i 56S5sa 'lS5is6 %
Left surplus June 30. 1905 ....... S15e74 200 IS
me net revenues Of the quarter ending Sep
ten1ber 30 inst based on nearly completed
r rs and 5'r g PeFsi BUSINESS GsfqFs for sep
tenber. viii be about. 10000 90
Total ST. s74 2o8 .
From which. appropriatne for
Interest on bonded observation-disclosures. sss1.3OO 90
s17,542 500 %
capital stock issued 1'I'o-I 70
Dedueng ysiee leaves surplus after .,s 30, sss 90
In view of the preceding statements the board
adopted the following resolutions:
Resolved That dividend of II per cent on the
payahie on and after October 16 next stockhold-
ers Of record the close OF the transfer books on
Resolved. That for the purpose of the. annual
meeting Of stockholders: to be held on Wednes9ay,
declared the stock books OF the company he closed
Al o'clock on the afternoon OF september ~ ana
Ue raopened the morning Of october Is next
The racetrack news syndtcates which are owned
and controlled by several individuals. will continue
10 supply the pooIroos Of this city and elsewhere
with news about the racetracks. The decision Of
the Western Union will not affect it is thought, the
business OF the syndicates The syndicates lease
wires collect and distribute their news service. and
they are not likely TO go out Of business so long
as they can get wires for sending their news 10
For about the last two years the syndicates have
practically been strengthening themselves by per
letting their news service and adding to their list
Of subscribers