The Express.
London, England, 1865-06-27 00:00:00

HZ CREDIT FONCIER sod MOBILIXR of
ENGLAND (Ihnited) in coeitroottou with the IMPERIAL
CREDIT ASSOCIATION (Waked). are
to MLITT& AIIESCRIPTIONS to 60000 Prefersuarle
being the balance of the Ca. pi toof Obi LANTIC TELEGRAP
OOMPANY not yet issued the general public, MA, 80.000
Preference Shares of Lis each, bearing 8 per cent. per annum
Preference interest, authorbed by Speeds] Act of Parliament.
Deposit, Al par fatale ow Application.
L 4 on Allotment.
No further liability et any kind.,
Each Sulearlber's Liability being rpecielly limited by Act of
Parliament to thermostat (Aids Subsoription.
The following am the Directors of the Atlantic Telegraph

The Right How. JAMB 14=41011.TLICY, Governer of the
Quid Foodsraied Mobilise of inland (Limited), Chairman.
CURTIS M. LAMPOON, Roy (Mama C. IL Lampoon and Co.,
London, Vice-Clialiman.
George Peabeft, Htq., 22, Old Mead -West, London.
Francis la)lafon, Req. 21, Sumer-place, legeerepark.
JohnJohnPearaft, 5i,?.,, Manchester (Director of the British and
Irish Mopeds thlenpany).
Idward Maas, Bab.
Samuel Genet, Rag., 111, lambs]
Ovennad, Germ, and Co.)
Edward Cropper, Mee, Swaylands, near Pantheist (Director of
the Brltlah end Irish Magnetic Telegraph pao
SVIDA. T. Hamilton. lt, Bolton-row, Plowdl4
Sldder, Reg., 24, Great Georgeatreet, Weaminater (Direc-
tor of the ltimeric and International Company, and
late Proddent of the Institution of Civil neers,
Six Edward Cunard, Bart, Old BroadetreetrLondon.
BOHOL/IST DELIC2OII-21. H. Stephenson, laq late Official Di-
rector on this Bawd on behalf et her litiestre Government,
and now Chairman or the Board el Inland Itevenne.
Itsonuotts—Cremwell P. Vsrisy. Zee.

London tSleasra

/to. Douglas Galton, RR. iesepiiWlthwortli.
Professor Wheatstone, F.I.S.
William Fairimins, Esq..T.E.S., Professor W. Thomson, I.R.L,
late President erg the British ofilisegow.
Association.
SniMmrslT—Guege !award. Req.
thnose-12, Si. Halen'oplaen &C.
171 e distribution of these shares will DO made as nearly as pos-
sible u follows :
10,000 shares will be appropriated to applicants who are
abareholders in the Credit /render and Mobilise of England
;Limited),
10,000 shares will be appropriated to applicants who are
shareholders in the Imperial Mercantile Credit Association
(Limited).
leooo shares will be appropriated to applicant. who are
shareholders in the Atingle- T Company.
10,000 shares will be appropriated to applicant
shareholders in the Telegraph Construction and MO
Company (Limited), and
10,000 Shares will be appropriated amongst the general public.
The above numbers are so for approximative as to be &abject
to reduction or increase according to the total number of appli-
cations rut's, it being the intention, however. that each ap-
plicant shall receive an hint
Maws. Glyn. Mills, Carrie, and Co., lombard-street London.
The Union Bank of London, Prineenetreet, LC.
The Agra and Maaterman's Bank (Limited), Nicholas-lane,
Louden.
Mean. Smith, Payne, and Smiths. Lombard-direst, London.
The National Bank, London, Dubbin, and its branches in
Thelin National Bank of Scotland, Edinburgh, and dr branches
in Scotland.
7he Consolidated Bank, Loudon and Manchester.
Messrs. J. Barred and Co., LiverpooL
Mean.
Mews. Laurence, Sou, and Pearce, 9, Angel court, LC., London,
Messrs. Foster, Braithwaite, and Co., 27, Austintrlare.
Mews. Taunton and Co.. LiverpooL
Mum dhore and Kirk. Manchester.
Messrs. McZwen and Auld, fibtapw.
Of all the enterprises of a commercial characW, none has ever
excited so much attention and interest as that of the Atlantic
TelegranhOstua
The reason o this I. perfectly obviate, the immense political
Importance of the Company, as well as the enormousprogt to be
anticipated by its shareholders, together with the scientific In-
terest attached to it, combining to a degree not found to any en-
terprise hq.commercial profit for its legitimate end.
An en so important, and now become so ounpars-
Healy easy accomplish. appeals not only great commer-
cial brevets of Europe and America, but to the sympathies of
all classes in both countries; its benefits to pess and civilization
it la imposirible to estimate.
The near approach cf theetiod when the cable la to be laid
is already the canoe of mu excitement amongst all who are
aware of the fact.
The date for the Great Eastern steam ship's departure with the
cable is actually fixed for the Bth July, about a fethWt from
the present date, and it is not too muck to wry that from the
hour of her besting the whole continent of Europe and America
will be intent upon watching her program His Royal Highness
the Prince of it ales has testified his warm Interest in the under-
taking by personally inspecting the cable on board the Great
Eastern about three weeks ago.
The exceptional character of the undertaking is further shown
by her Majesty's government granting the service of two of her
Majesty's men of war steamers, the Terrible and the Sphynx, to
accompany the Great Learn, and assist in the °poen= of lay-
trig the cable.
In calculating the rate of profit of this undertaking. of course
everything depends upon the scale of charges adopted for the
trananisnou of messages ; the first tariff agreed to with ber
Majesty's government was fixed at Si ed. per weed. subsequently
increased to in. per word, but as the time arrived when the cable
would be ready for actual use, it was seenthat the rues of bud.
nee this Company would immediately find offered to it would
so ter sentralise the benefit of it by completely choking the line,
thus representation to the Lords of the Treasury within the
last few days on the subject has led their lordships to consent to
the Company. until Ist September next, esperimentally " charg-
ing, without restriclon, such rates for messages as the Company
may,on fell consideration, deem reasonable and proper:" and It
, Ia fully expected that by this arrangement the net profits will
reach one million Meeting per annum.
The capital of the Company is compared as follows, viz..
£lOO,OOO five per cent. debentures.
£OOO.OOO eight per cent. preference shares (of which the pre-
, met Mine forms the balancC.
£BOO,OOO ordinary shares.
The amount required to pay S pee out. bite-
rest on 100,000 debentures is £5,000 per annum
I The amount required to pay the preference
dividend of 8 per cen ZeOO,OOO tot
which the present issue forma the balance) £48,000 „
The amount required to pay 4 per cent on
LOOO,OOO ordinary capital is
Making a total of
Leaving £923.000 per annum supine income. Half the amount
of any revenue above the said £77,000 Is available for yearly
boons to the holders of the said 8 per cent. preference shares.
Therefore, on the above-mentioned calculation the total avail-
able dividend and bonus would amount to above 76 per cent. per
annum, la addition to the 8 per cent. preference as above,
making an estimated total dividend of 84 per cent per annum
on these preference shares, leaving, after deduction of even leper
cent. for the formation of a reuwal bind for laying down anew
cable, 64 dividend, cent. dividend, of which S par cent. would be pre-
ferential secured by act of parliament.
What the price of these shares will be a month hence, with
such prospects, it is difficult to say, especially as the l
above given do not in the opinion of persons competent to judge
at all represent the maximum probable receipts ; but taking them
as the basis for calculation, and considering the continued de-
mand there must be for messages, consequent upon the ever
increasing Dulness between the Continent of Europe, England,
and America, and bearing le mind that this cable will complete
the line of telegraph between San Francisco and India, it is not
improbable that, by the time that telegraphic communication
bets een Rimier:id and America Is an accomplished fact, these
shares may be worth eXe, or All premium per share.
From the phalanx of talent existing in the scientific advisers
of the Atlantic Telegraph Company, and from the tact that the
laying of the cable has been entrusted exclusively to the eminent
contracting company who have bad charge of the manufacture
et it, and whose staff of engineers and electricians have success
full, laid most of the existing elflike, whether laid in deep or
shallow NIL it may well be believed that every precaution has
been taken to ensure the successful laying of this cable. This
achieved, the only her to the shares attaining the high value
which every one acquainted with the undertaking places them
at is removed. This risk, however, may easily be assessed when
I
is mentioned that leading Disarmed Companies and Lloyd's
have underwritten policies embracing every risk of laying, in-
sulation, de, at 25 guineas per cent., showing their confidence
in the result anticheited.
Finally, the Directors of pate several Companies interested in
the enterprise fully anticip being able to report each day
during the laying the favour able progress all believe in, and of
the events& of an undertaking which all look upon as • national

Its who are

work.
It will be seen front the proposed allotment of the shares that
the distribution of them is intended to be made upon as wide a
beets as possible, so as to p.m the whole of tbe applicanta the
assurance of receiving an allotment, and being permitted to
loin an unexampled commercially profitable as well as politi-
cally important uncle
Prospectuses and forms Dodd can be obtained of the
Credit Fonder and Mobilier of England (Limited) (Alfred Lowe,
Eaq.,Secretart), at their oilices.ll7 and IS, Cortihi(giO. London.
of the Imperial Mercantile Credit Maceration tad) (W. C.
Winterbottom, Rao Secretary), at their offices, L.mbard-
street ; also of the Atlantic TMwaph Company (Oecege Reward,
Secretary), at their °facer, IR St. He Lo-
don;d of the Telwaph Conetruction and Maintenance Company
=mad) (W. Shafer, Seeretary), at their Ofikell. Se, Old
t ; or of the Brokers or Bankers but no application
will be entertained unless the min of Li per share on application
has been paid. to one of the Company's Blinkers on the number
applied tor. Ives), applicant will receive an ellotesent, but
'Mould a less number be allotted than is asked for, the amount
paid will be applied towards the Et per share due on those
allotte.
London, June 19,1866.
SIGHT PERCENT. PILEYRRENCE SHAMES ot,the ATLANTIC
TELEGRAPH COMPANY.
lane of 60,000 Shares, /.3 melt.

No
To the DiMAWS of the Credit Fourier and Whiter
of II:Boland (Limited).
Gentlemen.—Havlng paid to the* Bank the sum
of t per sham on 8 per cent.
l
preference share' esci bln the Atlantic Telegraph Company
above Mienttoued, I request you will allot me shams to
the said Company upon the terms of the prospectus limed by
you, and I agree to accept such shares or any less imestor that
maybe allotted to me, and to pay the further sea of 114 per
share thereon due on allotment.-1 am. Gettlions• Fist
obedient servant,
rsual signature
Name and surname In full
Profesdon, trade, or occupation
Retithatce
Deis Jape MS

• Talbert Unbars' maw

Tssus of 50,000 EIGHT PER CENT.
il.uxuarcz BRAM in the ATLANTLC TILSOBAPH

iliwiLIFT7--
The yawn. TONCIZA and NOBILIZZ et 'ROUND
(Lotted) HI EZBY 01Y1 NOTIOZ that the SUBSCRIPTION
LIST for the above Pares will CLOS% THIS DAY (Meek*
the Mat last., at 4 o'clock, lee Imam appliaaannta. and w-
MIXON (Wednesday), the Boa last., at At o'clock, tor coautry
effilcatlona.—By order at Use ceettamm
taws, secretary.
li sad 18, ConOCIL Lentil" hoes ST, VW