OCR Text |
Show NEW TELEGRAPH COMPANY. JBIjr Plan of a. Mcll-Known New York Journalist. "William F. G. Shanks, the well-known New York journalist, has arranged with Senator Conger, of Michigan, chairman of the committe, for an early hearing for his new telegraph scheme. Mr. Shanks says that a company with a capital of $5,000,000 is being formed, including New York and San Francisco capitalists and journalists, and that the company controls all the patents for the wires and-machin-ery for this country and England. The company will build two wires to San Francisco within the next two years capable of accommodating the entire commercial correspondence between the two coasts, including English and Australian Austra-lian communications, practically shortening shorten-ing mail communication with the East and West by seven days' time at a cost of not more than half a cent per word. I The lowest present rates between San Francisco and New York are seven and a third cents per word. The preparation pre-paration of dispatches for rapid transmission trans-mission is so much simplified by new machinery that merchants may prepare their telegraphic letters in their own ciphers at their offices, so that the privacy of communication will be as absolute as it is by mail. The great difficulty heretofore here-tofore in machine telegraphy has been the securing of. low resistance wires impervious im-pervious to. heat or cold and to galvanic action between the steel and copper of which they were made. This is entirely obviated by the new wire. ' |