Difficulty arises between the Montreal Telegraph Company & the Great Northwestern Telegraph Company

[Trade Journal]

Publication: Electrical World

New York, NY, United States
vol. 9, no. 19, p. 217, col. 3

Telegraphy In Montreal. A special dispatch of April 29 from Montreal says: Another difficulty has arisen between the Montreal and the Great Northwestern telegraph companies. The directors of the Montreal Company sent Mr. Ross, their secretary, to Toronto to examine the books of the Great Northwestern, but the latter company refused to allow him to see the books until they had received advice from New York. Mr. Ross returned yesterday and served a protest upon the Great Northwestern, and if the directors of that company do not immediately comply with the provisions of their charter criminal proceedings are to be instituted against them. The capital of the Great Northwestern is $500,000. Of this only $50,000 has been paid up, whereas according to their charter 10 per cent. must be paid up every year and the whole capital at the expiration of 10 years. The company has now been in existence tor seven years, so that the directors are now liable for $300,000, their failure to pay it being a misdemeanor under the act. The directors are all moneyed men, including Erastus Wiman, president; H. Gooderham, vice-president, and O. S. Wood and H. B. Dwight. The Montreal Company having discovered that the Western Union, the guarantor of the dividends of the Great Northwestern, has over $1,500,000 of property in Canada, they will, if necessary, take proceedings in Canada.


Keywords:Montreal Telegraph Company : Great Northwestern Telegraph Company
Researcher notes: 
Supplemental information: 
Researcher:Bob Stahr
Date completed:July 15, 2009 by: Bob Stahr;