12 F. N. CIISBOENE ON 



The receiving apparatus comprises a polarized relay, with an induction coil so arranged 

 that a single effect is produced by a given pulsation of current on the main circuit. 



Tweuty-four pulsations, alternating in polarity, per second, are ample for the fastest 

 practical speed of manipulation. 



The receiving apparatus is sufficiently sensitive to respond to currents of •003=1/333 

 of a second's duration on a No. 8 iron wire 300 miles in length ; thus (1/333-^1/24) ren- 

 dering thirteen distinct circuits available for operation. 



A reference to the diagram will explain how the important advantage is obtained of 

 operating way .stations without the necessity of equipping them with additional main 

 batteries. 



With the foregoing perfected apparatus at command, the cost and capabilities of the 

 combined systems may now be considered. 



A first class telegraph line, constructed with cedar poles 30 feet in length and 6 

 inches diameter at top, with cross-arm and oak pins IJ inches diameter, improved porce- 

 lain insulators, one No. 4 hard drawn copper wire and one No. 6 galvanized iron wire, 

 fully equipped with instruments, etc., would cost between $400 and $500 a mile, or say 

 for a through main line between New York and Chicago, or from Quebec via Montreal, 

 Ottawa and Toronto to the United States frontier 1,000 miles, $500,000 maximum. 



Such class of line would remain in good working condition for over thirty years, and 

 could be permanently maintained at an annual cost of not exceeding $15,000 per annum 

 for repair and renewals. 



The minimum capacity of transmission of intelligence during eight hours out of the 

 twenty-four would exceed 50,000,000 words=500,000 messages of 100 words each per 

 annum. 



To conduct such amount of business the salaries of operators, perforators and copyists 

 would not exceed $25,000 per annum ; rentals, management and incidentals, $20,000; to 

 which add maintenance and renewals, $15,000 — in all $60,000 per annum maximum. 



The revenue from 500,000 messages at 25 cents for 100 words, minus 3 cents for 

 delivery, would be $110,000, plus press news income ; thus the minimum net profit would 

 be $50,000^10 per cent, upon the capital expended, and this upon an estimate of 500,000 

 messages per annum only, whereas the certainty is that they would exceed 1,000,000, and 

 thus yield over 30 per cent, dividends. 



The foregoing estimates are based upon the knowledge acquired after forty years' 

 experience in practical telegraphy, and can be relied upon as substantially correct. 



The only question remaining for consideration is the present and prospective amount 

 of business available for the foregoing results. 



Between New York and Chicago over 2,500,000 telegrams and 10,000,000 letters are 

 now annually interchanged. At least one-eighth of the latter would, under a 25-cent 

 tariff for 100 words, be transmitted by wire ; thus any company conveying one-third of 

 the telegraph and one-eighth of the postal business would have four times the estimated 

 minimum number of 500,000 messages at immediate comnaand. 



Again, the dozen commercial through main wires between Quebec and the United 

 States frontier, via Montreal, Ottawa and Toronto, convey 1,000,000 telegrams per annum, 

 and the postal service over 6,000,000 letters ; thus, with one-third of the telegraph and 



