Boston Globe, November 24, 1901, page 34:
It is a well-known fact, recognized by the newspapers, that the Federal Wireless Telephone and Telegraph Company furnished the most reliable reports of the America cup yacht races of 1901 that were published.
The immense strides made by the inventors of the company in their Philadelphia laboratories came upon the public as a revelation.
Few of those most interested in the discovery dreamed that the vision of wireless land lines from city to city and State to State, for the sending of ordinary messages at so much for every ten words, was so near realization. The time is here!
Wireless telegraphy for commercial purposes Is an accomplished fact. Next week will see the opening up of communication between Baltimore and Washington, between the stations of the Federal Wireless Telephone and Telegraph Company in those two cities.
It is appropriate that the first line of the newest electrical invention, and probably the greatest one of the age, should have Washington as its initial terminal. Several government bureaux have already asked Congress for appropriations to establish the system. The Signal Service needs it. The Lighthouse Board has asked for it. The Navy Department has petitioned Congress for an appropriation. The War Department sees untold advantages in its use in the field. The Postoffice Department regards it as the longest stride yet taken toward a practical postal telegraph.
Cabinet officers, United States Senators, Congressmen and Diplomatic Representatives have been invited to send the first messages over the Washington-Baltimore line. The occasion will create as much excitement there as did the experiments of Morse in the winter of 1843, when he made the astounding claim that he could send and receive a message a distance of ten miles through coiled insulated wire! After long effort he got $30,000 from Congress, and from that $30,000 grew up the millions of the Western Union and Postal Telegraph Companies, all the telegraph companies in foreign countries, and the cable systems that girdle the earth.
If some of the doubting Thomasses of that day had invested money with Morse, or had bought stock in the first companies, their descendants today would be rolling in wealth. Miss Annie Ellsworth, daughter of the Commissioner of Patents of that time, took more real interest in the mystic invention than any one else, and sent the first message over the line which the Federal Wireless Company is to span next week.
What changes the world has seen! Since then another mystic invention, the Bell Telephone had its doubters, its venturesome investors, and finally its multi-millionaires, composed of men who had been fortunate enough to hang on to the stock.
Federal Wireless Telegraph stock will doubtless have an exactly similar career. Now it is being sold at sixty cents a share. It will be quoted at one dollar a share, and sold by the company at that price, before January 1, or shortly thereafter. Indeed, the prospect is that the price may be driven up before that time, when the public has this first practical demonstration of the invention's unbounded usefulness.
The Federal Wireless Telephone and Telegraph Company controls the patents covering the system of the American Wireless Telephone and Telegraph Company for the States of New York, New Jersey, Pennsylvania, Delaware, Ohio, Maryland, District of Columbia, Virginia, North Carolina and South Carolina--a territory containing one-third of the entire population of the country, and more of the large cities, where electrical communication is a necessity, than all the rest of the country together. It has the exclusive right to use the system in this vast territory, containing the most important portion of the coast line of the United States.
L E. Pike & Co., whose offices are at No. 17 Milk street, Boston, will send prospectus, or will receive subscriptions to the stock at sixty cents a share, and it is probable that they will be overrun with orders between now and the opening of the line. Afterward it will be difficult to fill the orders. People who have seen Bell Telephone jump from a few cents a share to $4000 a share are not to be caught napping at this second opportunity. Persons who wish the stock of the only company that has the system, the patents and the instruments to commence business should lose no time.
Newspapers all over the country have acknowledged the superiority of the system. While the New York Herald had in use another system, it was fair enough only last Sunday to admit the excellence of the American patents, held for all this Eastern territory by the Federal Wireless Telephone and Telegraph Company.
It is the announced intention of the Federal Company to increase the price of the stock to Seventy-five Cents a share within the next thirty days. After that it may be expected to go upward at immense leaps, to end, who knows where? Many who looked forward to the present development bought the stock at forty cents a share, and many others at fifty cents a share. Their profits will be just that much greater. Subscriptions should be sent at once to L. E. Pike & Co., 17 Milk street, Boston.