The Express.
London, England, 1856-11-13 00:00:00

THE ATLANTIC TELEGRAPH COMPANY.

The great project which has for some time past
been idlest for connecting the continents of Europe
and America by a submarine electric cable, to be laid
down from England or Ireland to Newfoundland,
seems at length to ba assuming a more tangible shape.
An rssociation hearing the title of the Atlantic Tele-
graph Company, Limited, is in course of formation,
with a proposed capital of 350,000 i., in 'bares of
1,0001. each. This capital teems very moderate, con-
sidering the magnitude and importance of the enter-
price but it is stated that
Ite;possible panics offer to manufacture the whole ceble
a sum so fee within the limits of the prof teed cepit i se
to leave an ample margin to cover the espeose of lab-
morphia, as well as iceidental expenses; and it is determined
to complete sod have the telegraph in cperstion dozing the
ensuing summer.

We make the following extract from the pre.
liminary prospectus :
The favourable nature of the soundings of the Atlectic
which have been so liberally made fur this object by the
United States goverment, at the instance of Mr. Cyrus W.
Fuld—the proof that depths are no impediment to the enter.
mite, a, densonetrated by the recent effurts of Mr. Jobb W.
Brett in the Medit DDDDDD an—end the conclusive esperi-
ments recently made by Mews. Whitehouse end Bright,
corj unction with Fro'essor Morse, on a length of over 2,000
miles of subterracean wire—orablish beyond a doubt
practicability of laying the cable, and of working efficiently
the through it when submerged. Profeesor Morse, the
inventor et this American system of telegraphs, and Lieat.
Maury, U.S.N , who is well known for his investigations of
ocean deptbe and currents, ere active supporters of
the undertaking, and are confident of its successfrl
accomplishment indeedtbelattarortiting uponithe subject,
says As to its precticebility and surer.,, I em willing to
tisk my reputation. I see no difficulty in the way what-
ever." The same opinion is shared by all the officers who
hese been termed in making the soundings.
It is mentioned that a charter, conferring the
exclusive right, for fifty years, of larding telegraph
cables on the shores of Newfoundland and other parts
of North America, has been obtained by the New
York, Newfoundland, and London Telegraph Com-
pany. This privilege, as well as all the ooncersions
bearing on this undertaking which may hereafter be
obtained, together with the patent rights of Messrs.
Whitehouse and Bright, will be made over to the
company.
The remuneration of the projectors, Messrs. Brett
and Field, in conjunction with Meters. Whitehouse
and Bright, is to be entirely dependent on the suc-
cessful result of the enterprise. The promoters and
their friends also subscribe 100,0001. of the cepitel
required. As regards the probable pecuniary results
to the shareholders, the highest anticipations ere
expressed. It is proposed that an instalment of 20
per cent, shall be payable on allotment, and the re-
mainder by eight monthly instalments of 10 per cent.
each. We would suggest that a reduction of the
nominal amount of each share would be calculated to
facilitate the floating of this great speculation.
Shares of 1,0001. each, we fear, are too heavy to en-
list the support of the general public.