Year: 1869

| WOrkiN8b Oh tho Teie8rhPn
Postal Telegraph tho Only Relief.
The suit brought few days ago in Cincin-


natl by II. l.. Davis against the Western Union


Telegraph Company exhibits in strong light


the bearing of this gigantic monopoly on the
commercial interests of the country, and the


manner in which the vast power they WELD is


used to force every enterprising merchant,
banker and broker in the country to contribute
| to its gains. From the statements before the


court it appears that the Cincinnati Stock Ex-


change Company, desiring to have frequent


and reliable reports of the condition of the


market in this city, arranged with Mr.. Davis


for the sending of the same in cipher by tele-
| graph The business was carried on for some


time with mutual satisfaction to the parties, until


the Western Union Telegraph Company deter


mined to monopolize the profits that might &C


crue from sending mercantile reports over the


country. Davis was then notified that If he


would surrender his list of customers to the


telegraph company they would pay him


stated weekly salary to attend to the business.


When he declined to do this they then threat


ened him, and signiGed that they would make


him understand that they controlled the mat


ter. Accordingly series Of annoyances COM


menced in his business, and delays in the
transmission of messages, which finally broke


up his arrangements and compelled him to


seek other employment.


This case is merely specimen of the sys-


tenn which has been pursued by the telegraph
aI1o ovJ hoe
abled them to obtain the exclusive and un-
checked transmission of market advices be-
tween all our great commercial centres. We
say unchecked, because their market reports


can only be verified by private kilograms
transmitted at great cost, and these serve only
chants subscribing for the regular report.
Every man in business knows how unr eliable


these market reports of the Western Union are,


and yet all are compelled to take them that


they may know what influences are working in


their market. We have frequently had to


refer to delays and suppressions of important
| changes in markets, and some plausible
| excuse is always found for an occurrence
| which may have enabled somebody to make
very profitable series Of operations. A case
of this kind occurred two days since in our
| own market A difference of two per cent in
| the quotation of bonds in the Frankfort market


on two consecutive days occurred in the
| Western Union reports which were delivered
| to subscribers in this city. This caused much
excitement on the street, and on examination
it turned out that the quotation given the day
previous was two per cent above the market


The excuse was that ga mistake had been


made in deciphering by the key" We are not
told if any one had operated in the meanwhile,
| and it only appears that powerful ''bull'
movement was in operation at the time.


We cite this case only to exemplify the dan


ger and temptation of monopoly in the trans


mission Of market advices. 1t will be said
| that the Western Union do not control the
European advices We admit this; but they
do control the advices between our own great
| commercial centres, which affect prices of all
our staples of production and trade, and the
feeling among the business community is that


reports of important changes in the market


slips must be verified by private advices.
This destroys the true object OF the merchant


in paying the monthly tax for the slip yet, as
we have already remarked, he must pay the
tax to the Western Union in order to know


what is going on.


There is but one remedy for this enormous
| evil and wrong. The postal telegraph will


render that instrument serviceable to every


merchant and greatly increase its use by them
| II will facilitate the sending Of competing


market reports and secure promptitude and
exactness in them. The merchants Of every
city in the country should take action, through


their respective chambers of commerce and


commercial boards, to enlighten public
opinion and urge upon the government the


early establishment of the postal telegraph.
We shall then be rid of vexatious monopoly in


transmission and its attendant errors and


taxation.


| Does.-The Mayor is Of opinion that the
/ Doord ,r uoaIth boo ;,,r; ;ad; of Jooa ard