| Show CONSOLIDA CONSOLIDATION TION SA YES S I Boston Nov long IonS stride to toward toward ward the tho complete control hy by one cor COl of all wire communication In tho United States was mado today In Inthe Inthe the b by the tle American Tele Iele Telephone phone and Telegraph company of the control or of the Western Union Tele Telegraph Telegraph graph To make the tho absorption tion lot complete the Incorporation or of a anew now new billion dollar company It Is said will be necessary to Include tho I or of bond bont and nd stok of the lie Amer Amerlean I Ilean lean Telephone nn and c Co known as the Bell and Lie tho i outstanding o bonds and I stock of the Western Union company I The Tho of the Western I Union stock by the Bell company compau has been In progress for six months and I only n a sufficient amount to insure can tro sail said to be 61 51 per ent was ovo r OffIcers of oC the tho telephone company that the tho merger will SIL save 0 the B Boll ll compan In now new con construction while it also olao will enable the utilization of for both telegraph telegraphIng Ing in and Some associated ed cd In the telephone business s a majority Of whose stock rests In the tho treasury I I of the parent concern are Now York Telephone company campan Now Telephone and Telegraph company Bell Telephone i of Potion New pw tv W JrP T corn com TI Bell Tr h hI I F u l 21 lI I nur I Ion land Telephone and Telegraph corn com pany Chicago Western Tele Tebe and Telegraph company lG 16 Boll Telephone company compan of Canada The Iho telephone system annually transmits J messages while the Union handles Tho Th telephone system has bias S 5 miles s or of wire and the Western Un Union Ion The total property value alue of oC the tho telephone company Is and that or of the Western Union New York No Nov or of the Telegraph company passed toda today to the American Tele Tebe phone and Telegraph company and a along along long stop step was taken toward the mergIng Ing of the telephone and telegraph companies Into a corporatIon with a capitalization or of nearly a billion do del lars bars Announcement of the acquirement of the tho We estein eD years ears known as a Gould the tho American Telephone Telegraph company came today from Boston Doston rho Phe acquisItion or of the tho Western Vestern Union and the recent absorption of the lie various arlous Bell telephone companies In various parts of the country Indicates a large increase in inthe the tho present capitalization of the par ent company the American Telephone Telegraph company Th present capital or of the Telephone Telegraph company Is In stock and aud In bonds bends Tho rho Union has a capitalization of In stock and In bonds Officials of the Postal Telegraph stilted stated that their company would remain on an independent basis Stocks of the Western Vestern Union fell rell 3 points on the stock exchange on the news or of the passing of lie tho control I Boston No Nov American I I Telephone Telegraph has secured a substantial amount of the minority stock oi of the Western Union Telegraph company and sufficient vot ot log Ing rights of other stock to give gle the telephone ne company compan control of the tele telegraph telegraph graph corporation according to an an anI here today I The action or of the present American Telephone Telegraph company did I not como come as a surprise here The nee no for the purchase o or of the tho I Western Union stock have hao been In InI progress The contracts between the Amen Amerl I can Bell Telephone and the Union tInted November 10 provided for the mutual ex cx exI I change or of business and cooperation I the Bell com company pan to do the tho collecting I and delivering as far Cur as possible over oer Its lines but under the present move moo I and stockholding tl have hare prevented nn any measurable degree delTee of cooperation For more than years cars hero thero has been litigation between the telephone company compan and th Union f Now Nov York Nor o S SN X N Vail of oC the American Telegraph comp n said today r r t Fro Front ni the vary en of the b business It has been I thought that a close ll making or of one busineSs the auxiliary to the lie other othe ld give ad public service as well as rt re unit Hult in equal economicS economic both to the tho thoI I and the Th I li p Lt ii much to h g gained by the and maintenance of amid b by its Itz common use to the tho i greatest possible extent but the great greatest est ost advantage would follow the tho pine pac pacIng lug Ing of the lie millions or of telephone sub subscribers subscribers scribers In close and rella reliable le with the tho receiving and dispatch lug of the telegraph companies While Whilo some provision for this af after after ter a manner exists toda today a lack of harmony and n cooperation between tho ho companies and an Inability to toa I a agree on methods or of fixing has limited Its utilization to cases of absolute necessity The liar har harmon mon mony and cooperation no necessary It Is believed can now ho bo established and the resulting advantage made abail able for or the lie public |
