The Mercantile and Financial Times, May 21, 1910, page 8:

SEATTLE, WASH
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BIG  WIRELESS  MERGER
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THE

  VARIOUS  COMPANIES  USING  THE  SPARKLESS  WIRELESS  TELEGRAPH  AND  WIRELESS  TELEPHONE  SYSTEMS,  INVENTED  AND  PERFECTED  BY  DR.  LEE  DEFOREST,  HAVE  BEEN  AMALGAMATED  INTO  A  $10,000,000  COMPANY,  THE  NORTH  AMERICAN  WIRELESS  CORPORATION--WILL  GREATLY  FACILITATE  THE  SENDING  OF  LAND  AND  OCEAN  MESSAGES  AND  WILL  ADVANCE  THE  INTERESTS  OF  THE  SHAREHOLDERS  OF  ALL  THE  SUBSIDIARY  COMPANIES  ALONG  INTELLIGENT  AND  PRACTICAL  LINES.
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(Staff Correspondence.)
     Wireless telegraphy is now too well known to require any introduction to investors or to the general public. It has become firmly established as one of the great commercial institutions of the day; the long and costly experimental period having been passed, and it is now on a solid foundation and traveling rapidly forward to a wonderful commercial supremacy. Wireless telephony is not perhaps so well known and appreciated and has not advanced to such a stage of perfection as has wireless telegraphy, but that is only because it is an invention of more recent date and not because it is less practicable or more difficult of achievement. There are two systems of wireless telegraphy in use today and by far the best of these is the sparkless (overland) system invented by the well-known scientist, Dr. Lee DeForest. Dr. DeForest has also achieved distinction of no mean order by being the first to bring wireless telephony to a practical and money-making stage, and this system has been exhaustively tried out by the French Government, and it is in France that the record for the longest wireless telephone communication has been made; from Paris to Marseilles, a distance of 550 miles. Notable achievements have also been made in America with the DeForest, or Radio, system, as it is called, vessels on the Great Lakes which are equipped with this system being constantly in communication with stations on the shore and with each other. The company operating under the Radio patents have met with unqualified success in sending wireless messages across the land, stations in Philadelphia and New York being in constant communication with each other, the conversation being as easily distinguished as that over a wire 'phone, and the same is true of its stations located in Chicago and Milwaukee.
    There are now a dozen or more companies all over the United States and Canada licensed under the DeForest patents to engage in the receiving and transmitting of wireless telegraph and telephone messages. The outlook for the future is so bright that all these companies have been recently amalgamated into one parent company, the North American Wireless Corporation, with headquarters in New York and a capitalization of $10,000,000. Among the companies included are the Radio Telephone Co., the Commercial Radio Co., the Central Wireless Co., the Atlantic Radio Co., the Pacific Radio Co., the North American Radio Co., the DeForest Radio Telephone Co., the Universal Wireless Corporation, the Great Lakes Radio Telephone Co., the Continental Wireless Construction Co., and a number of other organizations.
    The North American Wireless Corporation was organized for the purpose of "unifying and standardizing the sending and receiving of commercial messages, as embodied in the Radio (wireless) telephone and sparkless (overland) wireless telegraph in the United States, Canada, Newfoundland, Great Britain, France, Germany, Russia, Italy, Sweden, Denmark, India, Cape Colony, New Zealand, Australia and other countries and upon the waters within and adjacent thereto. The company proposes to develop and utilize in a commercial manner throughout the world the generation and receiving of electrical impulses for the transmission and reproduction of sound signals, audible air vibrations and other intercommunications of human intelligence, including handwriting, pictures, diagrams and other forms of recorded messages. It is planned to eventually include in the corporation's activities a commercial transcontinental, transatlantic and transpacific service."
    It has been realized by the managements of the various companies that the best results would be reached if all of them were equipped with the same apparatus and under the same management, thus obviating traffic agreements and delays due to the different equipments of the several organizations. By this standardization and centralization better results will be achieved, the business can be conducted in a more economical manner, the service to the public will be of a higher character and more uniform, and all this will mean larger profits to the amalgamated companies which will be reflected in larger dividends to shareholders than would other wise be the case.
    The management of the merged interests, as in the case of the separate enterprises, is of the strongest and most conservative character, being composed of men who have the best interests of the shareholders at heart and who may be depended upon to advance the company to that position to which it is so well entitled by reason of the broad basic patents on the DeForest sparkless telegraphy and Radio wireless telephony systems which it owns and by virtue of which it exists, giving it practically a monopoly of the wireless field. The North American Wireless Corporation has extremely valuable assets, including 39 wireless stations, in operation or in course of erection and other equipment, to say nothing of the patents, and what was the parent Radio Company before the amalgamation for some time had been paying twelve per cent dividends per annum, besides spending much money in the perfection of the wireless 'phone.
    A Vancouver subscriber has forwarded us an inquiry relative to the Pacific Radio Company, one of those taken into the merger, and inquired as to the investment value of its stock. The shares of the Pacific company were placed on the market last August at $5 each, par $10, and successive advances have since taken place, owing to the rapidly approaching time when the company will be engaged in active operations, and just prior to the merger they were being sold at $12 per share, to which figure they were advanced on April 1st. We understand that the Pacific Radio shares have been withdrawn from the market and the only stock now being sold by any of the allied interests is that of the holding company, the North American Wireless Corporation, at $6 per share, par $10.
    It is not the intention of this article to enter into any lengthy discussion as to the merits of the wireless telegraph and telephone systems owned and controlled by the North American Wireless Corporation, or to make any extended reference to the bright future of that company, but merely to direct the attention of our readers to the fact that the amalgamation will greatly assist in the development of the systems which it owns, more so, in fact, than would be possible if left to individual companies. The North American company has a wonderfully bright future before it and we predict that the price of its shares will steadily and consistently advance as its field of operations continues to expand. At the present price per share we think highly of this issue for investment purposes and commend it strongly to the attention of our readers and the investing public.