United States. Congress
Published: 2017-10-29
Total Pages: 362
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Excerpt from Report on Postal Telegraph: In the Senate of the United States, May 27, 1884 In 1881 the Western Union paid of its stock for the stock and bonds of the American Union Telegraph Company, and of its stock for all of the stock which it did not already own of the At lantic and Pacific Telegraph Company. From a comparison of the an nual reports of the Western Union it appears that the addition to its property was greater in 1881, when these purchases were made, than in 1882, when no purchases were made, by only miles of pole, miles 01 wire, and 329 otlices. This excess of addition to the equipment in 1881 seems to be a tolerably correct measure of the tangible property which the Western Union acquired by issuing of stock in 1881, and if it is, the actual cost value of the property must have been about on the estimated cost of constructing telegraph lines per mile of wire at $70. The purchases of new lines made in 1881 did not cause any accessions to the business of the Western Union, inas much as the subsequent increase iii the number of messages was no greater than the normal growth without the addition of new lines. It is evident, without pursuing this branch of the subject further, that the price which the Western Union paid in its stock for competing lines was vastly in excess of either the cost or carnin g capacity of the prop erty acquired. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
