Publication: Electrical World
New York, NY, United States
PHILADELPHIA, Sept. 5, 1887.
The sale of the Baltimore & Ohio express system, and the deal by which the railroad itself will pass into the control of other hands, has made it almost a certainty in the minds of well-informed people in this city that the telegraph line will soon be leased, thus doing away with a, formidable rival of the Western Union. It is asserted that the telegraph department cost the road over $50,000 a month for some time after the low rates were established, and for this reason many of the stockholders desired either to lease the system or pool the business, so that instead of losing money the business might be placed on a basis that would, at least, make both ends meet. Nothing definite is known, although a positive and seeming official statement has been made that if favorable terms could be secured, both the telegraph and sleeping car privileges would be handed over to other parties. It is said, too, that before Mr. Garrett sailed for Europe, he gave to John W. Mackay, an option on the telegraph system which will not expire until Sept. 10, and the delay in announcing a disposition of it gives considerable color to this rumor. Developments are awaited with anxiety, but it is very probable that the suspense will not last long, as it is more than likely that before another week rolls by we will know the full details of the deal now in progress.
|Keywords:||Baltimore and Ohio Telegraph Company|
|Date completed:||July 16, 2009 by: Bob Stahr;|