(2) To pay the Western Union a royalty of twenty per cent on all telephone rentals.
The Western Union had lost its case, for several very simple reasons: It had tried to operate a telephone system on telegraphic lines, a plan that has invariably been unsuccessful, it had a low idea of the possibilities of the telephone business; and its already busy agents had little time or knowledge or enthusiasm to give to the new enterprise.
But, as may be imagined, when the news of the Western Union agreement became known, the story of the telephone became a fairy tale of success.
The main object of these companies was not, like that of the Western Union, to do a legitimate telephone business, but to sell stock to the public.
At first, having held their own against the Western Union, they expected to make short work of the stock-jobbers.
But Gray could never forget that he had seemed to be, for a time, so close to the golden prize; and seven years after he had been set aside by the Western Union agreement, he reappeared with claims that had grown larger and more definite.
By 1878, when he came in to defend the little Bell Company against the towering Western Union, Smith had become the most noted patent lawyer in Boston.
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