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Show ISSUES STATEMENT TO STOCKHOLDERS President Vail of Western Union Discusses Government Govern-ment Ownership. NEW YORK, April S. Pursuant to the agreement with the department of Justice Jus-tice disintegrating the Western Union Telegraph company and the American Telephone & Telegraph company, directors direc-tors of the American Telephone & Telegraph Tele-graph company, who wero likewise directors direc-tors of the Western Union, resigned from the Western Union board today. Those who resigned are Edward J. Jcffory. Charles lanler, Ecwis Casa Lcd-yard, Lcd-yard, John J. Mitchell. Harry B. Thayer, Theodore N. Vail. John I. Walcrbury and Robert Winsor. The other directors were re-elected and the following were added to tho board: William H. Baker. Henry W. DoForrest. William Fahnestock, Percv A. Rockefeller, Rockefel-ler, Mortimer L. Kchlff and William H. Truesdale. A meeting of tho new board has been called for April 15, when, it Is expected, Ncwcomb Carlton will be elected president. presi-dent. In a statement to the stockholders, President Vail took occasion to discuss the possibility of the government control of the telegraph linea. "The property of the company," he said, "cannot be taken unless a full and proper equivalent Is returned to tbe owners. In such a case, the stockholders should receive re-ceive as a minimum a sum far In excess of the present market value of the shares. "The other alternative which has been advanced, to take over the long-distance telephone lines and enter Into competition with the existing telegraph lines for tho purpose of destroying their business, Is not only of so questionable a character as to be repudiated whon Its full slgnlfl-I slgnlfl-I cancc Is realized, but is so utterly Impossible Im-possible and unworkable from a practical I point of view as to make it negligible. The owners of the securities of the Western West-ern Union may rest quietly and not be scared Into the sacrifice of their property." |