Resolved, That in receiving the letter of J. H. Wade, Esq., declining re-election to the presidency of this company, we cannot pass it to the officiai files without recording our testimony to the distinguished service he has rendered to the general system of American Telegraphs, and especially to the company whose management he now resigns.
Connecting himself with it in its earliest introduction to public use, and interesting himself in its construction, he was the first to see that the ultimate triumph of the telegraph, both as a grand system of public utility, and of secure investment, would be by some absorbing process, which would prevent the embarrassments of separate organizations.
To the foresight, perseverance and tact of Mr. Wade, we believe is largely due the fact of the existence of one great company to-day with its thousand arms, grasping the extremities of the continent, instead of a series of weak, unreliable lines, unsuited to public wants, and, as property, precarious and insecure.
Resolved, That we tender to Mr. Wade our congratulations on the great fruition of his work, signalized and cemented by this day's election of a Board representing the now united leading telegraph interests of the nation, accompanied with regrets that he is not with us to receive our personal acknowledgements, and to join us in the election of a successor to the position he has so usefully filled.
Office of the Western Union Telegraph Company, New York, July 10th, 1867.
William Orton, President. O. H. Palmer, Secretary.
As before mentioned, Mr. Wade remains a director and leading spirit in the Board, where his suggestions are listened to with respect and acted on without unnecessary delay. In addition to his connection with the telegraph Company, Mr. Wade is heavily interested in several of the most important manufactories, in the railroads, and in the leading banks of Cleveland. The wealth he has accumulated is mostly invested in such a manner as to largely aid in building up the property of Cleveland, a city in which he feels a strong interest, not only from the fact that it has been for the past twenty years his place of residence, but that the wealth enabling him to enjoy the beautiful home he has secured there, was made in Cleveland.
It has already been noted that Mr. Wade, when a painter, took the first daguerreotype west of New York. Soon after his entering upon the business of telegraphy, he put into practice, for the first time, the plan of enclosing a submarine cable in iron armor. It was applied to the cable across the Mississippi, at St. Louis, in 1850. Weights had been applied to the previous cables, at regular distances, on account of the sand, change of bottom, drifts, and other difficulties that interfered with the safety of the cable. Mr. Wade conceived the idea of combining weight and protection in the cable itself. He constructed it with eighteen pieces of wire, placed lengthwise around the cable, and bound together with soft iron wire at intervals. While the spiral cordage of hemp, such as was used at that time on the cable from Dover to Calais, would stretch, and allow the strain to come on the cable itself. This invention caused the strain to come on the armor. It was a complete success, and lasted until the line was abandoned. Mr. Wade also invented, in 1852, what is now known as the Wade insulator, which has been used more extensively, perhaps, than any other.
Among the strong points in Mr. Wade's character, is his readiness and ability to adapt himself to whatever he undertakes to do. The evidence of his common sense, business foresight and indomitable perseverance, has been proved by the success attending the various pursuits in which circumstances have placed him. Finding, in early manhood, his mechanical labor undermining his health, he turned his attention to portrait and miniature painting, to which he applied himself so close that after a dozen years or more at the easel, he was compelled to abandon it and seek more active and less sedentary pursuits. Having so long applied himself to painting--the business of all others the most calculated to disqualify a man for everything else--but few men would have had the courage to enter so different a field, but Mr. Wade seemed equal to the task, and with appropriate courage and renewed energy grappled with the difficulties and mystories of the telegraph business, then entirely new, having no books or rules to refer to, and without the experience of others to guide him, and having, as it were, to climb a ladder, every round of which had to be invented as he progressed. But nothing daunted him. Through perseverance and system he succeeded, not only in supplying the United States in the most rapid manner with better and cheaper telegraphic facilities than has been afforded any other country on the globe, but in making for himself the ample fortune to which his ability and energy so justly entitle him. And when care and over-work in the telegraph business had made such an impression upon his health as to induce him to retire from its management, and give more attention to his private affairs, he was again found equal to the emergency, and has proved himself equally successful as a financier and business man generally, as he had before shown himself in organizing and building up the telegraph speciality.