The Birmingham age-herald., 1914-02-17

the fact that cents a word is an un-
remunerative rate. The Commercial ca
Die company considers 1t only just 10
the business community that its cables
during the busy hours should be de-
voted to the rapid transmission of reg
ular commercial cablegrams. The COM
mercial Cable company gives a de-
ferred press rate at cents a word
On the other hand, the report con-
tinues, in Mexico, whore the Western
Union has monopoly, the telegraph
rates are exorbitant The Western
Union rate between New York and Mex
leo City is s1.75s for a message of 10
words. The distance is 1857 miles. the
Postal company's rate between New
York and San Francisco is 81. This dis
tance Is 3400 miles. That telegraph
communication between the United
States and Mexico should be under the
Icontrol of single telegraph system in
the present condition of affairs in Mex
leo is a serious matter. since the whole
press of the country and the public
have no alternative channel OF trans
mission. 1t is serious matter for any
country that the means of communica-
tion be under one private control. If
Mexico had the benefit of the Postal
eompany's competition, 1t would enjoy
lower rates and faster service to this
country This condition between the
United States and Mexico is the result
OF a bargain between the Western
Union Telegraph company and the gov
eminent of Diaz. Eminent Mexican
lawyers have declared this Western
Union Mexican monopoly a violation of
the constitution of Mexico The Postal
telegraph system reaches FL Paso on
the border Just opposite ciudad Iuarez
in Mexico, where a connection could be
made with the Mexican railroad tele-
graph system within an hours notice.
More than 10 years ago the Postal
Telegraph company, at great expense,
built a telegraph line between Alber-
querque. ~ NJ, south through New
Mexico and Texas to FL Paso. where il
had arranged to connect with railroad
telegraph lines running from FL Paso
to Mexico City. The Postal company
began giving competitive telegraph
service between the United States and
Mexico, but the Mexican Railroad COM
panies were soon ordered to cease ex-
changing telegraph business with the
Postal and have never since been per-
mitted to resume.
Has No Debts
The Aackay company has no debts.
Its outstanding preferred shares (s5o,-
100000 have not been increased dur
ing the past seven years Its outstand-
ing common shares ($41. ,4o0) have
not been increased in the past nine
years. No bonds, notes or stock have
been issued, and no debts incurred dur
ing the year.
The shares of the Mackay companies
continue to be an attractive investment
for the employees of the Commercial Ca
BILE and Postal Telegraph systems, and
their holdings are constantly increas-
ing, especially as to the preferred
shares. The cooperation resulting from
such investment is gratifying to the
trustees.
panies are audited monthly by Messrs
Barrow, Wade. Guthrie & Co., chartered
accountants of New York and London.
AT the annual meeting of the Mackay
companies, held in Boston yesterday,
the number of trustees was Increased
from eight to nine, and Sir Thomas
Skinned, Bart, of London was elected as
the additional trustee by unanimous
vote. Sir Thomas Skinner was close
associate of Lord Strathcona, who was
a director in the Commercial Cable
company, which is controlled by the
Mackay companies, and his selection as
trustee of the Mackay companies IS
particularly appropriate, especially as
the Mackay companies have never be-
fore had a representative In England
The other trustees of the Mackay COM
panies include Sir Edmund B. Osler of
Toronto and Mr.. Henry V. Meredith, the
president of the Bank of Montreal. The
Canadians and English are large hold
ers of both the preferred and common
shares of the Mackay companies