The statement that, after the consolidation of the American, United
States, and Western Union Telegraph Companies, in 1866, “the prices were
again raised, and this first caused a less ratio of increase, and
finally an actual decrease in the telegraphic business of the country,”
is without the least foundation in fact. In no instance has the tariff
been increased since the consolidation. On the contrary, there has been
a steady decrease, the rates to more than one thousand stations having
been lowered since the consolidation; and this course is still being
pursued as rapidly as a just regard to the rights of the stockholders
and the extremely complicated nature of adjustment to be made will
allow.
The impression which Mr. Hubbard attempts to give, that the
consolidation of the companies forming the Western Union Telegraph
Company, included all the lines, and gave this company a monopoly of the
business, is also incorrect. The Franklin Company, between Boston and
New York, the Insulated Company, between Boston and Washington, the
Bankers and Brokers’, between New York and Washington, and others, were
then in active operation, and are still.