The Express.
London, England, 1865-06-21 00:00:00

HE CREDIT FONCIER and MOBILIER of
'NOLAND (Lintited),l coelenotioa with the I SIPMRLAL
AN I IL% CRLDIT ASSOCIATION (Limited), are premed
JUICSITS SUBSCRIPTIONS for 60,000 Preference Bhtrea,
beimthe Wean of the Capital of the ATLANTIC TILBORAPH
COMPANY not yet honed to the gained public, Tin, 60.000
Preference Shares of ib each, bearing 8 per ,enL pperr annum
Preference iii!!reet.euthorteelby Rpeclal Act of Perftment.

Deposit, Li pet Blum on Application.
44 on Allotment.
No further , et any kind,
Each Solsortber's Liability being specially limited by Act of
Parliament to the Amount of kis dubecription.
The following nre the Directors of the Atlantic Telegraph

Company :
The Eight Hoe. JAMES STUART WORTLEY, Governer of the
Credit Yonder and liobiller of England (Limited), Chairman.
CURT'S M. LA UPSON, Esq. (Messrs C. Lampoon and Co.),
London, Vice-Chairman.
Wore Peabody, Era, 22, Old Broadatreet, London.
Francis Le Breton, 21. Sussex-place, Regent's.ork.
John Ponder, Lg., M.P., Manchester (Director of the British and
Irish Maguelia Telegraph Company).
Edward Moon, Seq., LiverpooL
Samuel (honey, Esq., M.P., 65, Lombard-street, London (Messrs.
°mend, °won, and Ca)
Edward &Isomer keg. Swaylands, near Penchant (Director of
a the British aad BUB Magmatic Telegraph Campany).
Caplan A. T. Hamilton, 12 Boltoarovr. Picas- dilly.
G. P. Bidder, Dm , 24, Great Georgs-street, Westminster (Direc-
tor of the Electric and international Telegraph Company, and
late President of the institution of Civil Engineers).
Sir Edward Canard, Hari. Old Srosdatreet, Lando*.
iionoataY Dissent—W. H. Stephenson, Esq.. late Official Di-
rector on this /Mara no behalf of her Majesty's Government,
and now Chairman of the Board of Inland Esvenue.

FTVAriei,A;.44:-
00111101X11113 coinurnue.
Captain Douala& °Alton, ILL, Joseph Whitworth, 1aq.,1./L9.
LS. Proleaaor Wheatstone, Y. 6.9.
William Fairbalin, Profess), VI Thossoo,
late President of the Mil& el Ohioans.

..'"•.••••••••••
SEC.AITART-00e110 Saward, Esq.
licea—l!, St. lie Y.C.
The diatributioo of these shares will be made as nearly as pos-
sible as follows :
10,000 shares will be appropriated to applicants who are
shareholders in the Credit Fender and Mobilise of England
10,000 shares will be spproprtated to applicants who are
shareiolders in the Imperial Mercantile Credit Association
(ilnittecli.
10,000 shares will be appropriated to applicants who are
sharer olden, in the Atlant'e Telegraph Company.
10,000 shares will he appropriated to appliesots who are
shareholders la the Telegraph Construction and Maintenance
Company (Limited). and
10,000 Shares will be appropriated amongst the general public.
The above numbers are so far approalmative as to be sublext
to reduetiou or increase according to the total number of appli-
cations it being the Intention, however, that each ap-
plicant shall receive an allotment.
RAMILIO.9.
" "

Mews. Olyn, Mills. Canis, and Co., Loinhardegreet, London.
The Union bank of London, Princesatrort, E.C.
The Agra and Motorman's Bank klangted), Nicholas-lane,
London.
Messrs. Smith, Payne, and Smiths, Lombard street, London.
She National Bank, London, Dublin, and its branches in
Ireland.
The National Bank of Scotland, Edinburgh, and its branches
in Scotland.
he Consolidated Bank, London and Manchester.
Messrs. J. Borneo and (.0., LiverpooL
BROWS.

Maws. Laurence, Son, andTe; roe, S. Ani,vl-conrt, KC., London.
Maws. Poeta:, Braithwaite, and Co , Y 7, AustinLdara.
Nem& Taunton and Co. U LiverpooL
Yearn. nbore and Kist, Manchester.
Yews. Marian and Auld, GLARaow.

Of all the enterprises of a commercial character, none has ever
excited so much attention and interest as that of the Atlantic
Telegraph
The reasoCrthL to perfectly obvious the Immense political
Importance of the Company, as well as die enormous profit to be
anticipated by tta shareholders, together with the scientific in-
terest attached to it, combining to a degree not found in any en-
terprise haring commercial profit for its legitimate end.
An enterprise so important, and now become so compare-
tirely easy to accomplish, appeals not only to the great roamer-
dal Intel este of Europe and America. but to the sympathies of
a I classes in both conntries: its benefits to peace and civilization
it Is impossible to estimate.
The near approach cf the pniod when the cable Is to be laid
Is already the came of much excitement amongst all who are
11.1•••0 of the feet
The date for the Great Eastern steam ship's departure with the
cable Is actually fixed for the Bth July, about a fortnight from
the present date, and it is not too much to Pay that from the
hour of her tearing the • hole continent of Europe and America
will be intent upon watching her pro,reas. Ills Royal Highness
the Prince of Wales has testified his warm lute est in the under-
taking by personally Inspecting the cable on board the Great
PAatern about three weeks ago.
The exceptional character of the undertaking Is further shown
by her Majesty's 'events's:4 granting the service of two of her
▪ idesty's men of war stammers, the Iltrrible and the Bphynx, to
accompany the Great Restart, and wise ha the operation of lay-
Lug the cable.
In calculating the rate of profit of this undertaking, of coons
everything depends upon 'the scale of charges adopted for the
transmission of messages the first tariff agreed to with her
Majesty's government was fixed at 8 ed. per woe d, subsequently
increased to is. per word, but as the time arrived when %liveable
would be ready for actual use, it was seen that the mass of bust
use this Company would Immediately find offered to it world
so far neutralise the benefit of it by completely choking the tine,
thus representation, to the Lords of the Treasury within the
lut few days on the subject his led their lordships to consent to
the Company, until let September next, eaperinientalle • charg-
ing, without restric ion, such rates for messages as the Company
ms y,OO full consideration, deem reasonable and proper and it
Is lolly expected that by this arrangement the net profits will
reach one million starling per annum.
The capital of the Coss any Is composed as Miura,
1180,000 fire per cent debentures.
£BOO,OOO eight per cent preference shares (of which the per-
sist issue forms the balance).
6000,000 ordinary shares.
The amount required to pay 6 per cent. Inte-
rest on ElOO,OOO debentures is OOO per annum
The amount required to pay the preference
dividend of 8 per cent. on £OOO 000 (of
which the present issue forms the balanUl L 48,000 „
The amount required to pay 4 per cent, on
£BOO,OOO ordinary capital is

Making a total of
leaving OEI,OOO per annum surplus income. Half the amount
of any revenue above the said E 77,000 Is available for yearly
bonus to the holders of the said 8 per cent. preference shares.
Therefore, on the abovednentioned calculation the total avail-
able dividend and bonus would amount to above 76 per cent per
annum, to addition to tle, 8 per cent, preference as above,
making an estimated total dividend of 84 per cent per annum
on these ',reference shares, leaving, after deduction of even 20 per
cent. for the formation of a renewal fund fur laying down a new
cable, ei per cent. dividend, of winch 8 per cent would be pre-
ferential dividend, secured by act of parliament
What the price of these shares will be a month hence, with
each prospects, It Is difficult to say, especially as the figures
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 continue t de-
mand there must be for menages, consequent upon the ever
increasing business between the Continent of Europe. England,
and America, and bearing in mind that this cable will complete
the line of telegraph between San Francisco and India, it is not
Improbable that, by the time th it t. leeraphle communication
between Newland and America is an accomplished feet, these
shares may be worth £2O, or £ls premium per share.
From the phalanx of talent wasting in the scientific advisers
of the Atlantic Telegraph Company, and from the fact that the
laying of the cable has been entrusted exclusively to the eminent
contracring company who have had charge of the manufacture
of it, and whose staff of engineers and electricians have success
telly laid meet of the iodating cabies, whether laid in deep or
'hallow seas, it may well be believed that every precaution has
been taken to ensure the succeseltil laying of this cable. This
achieved, the only bar to the shores attaining the high value
which every one acquainted with the undertaking pia es them
at Is removed. This risk, however, may sully re assessed when
It is mentioned that leading Ineuraace Companies and Lloyd's
have uuder written policies embracing every risk of laying, in-
sulation.
fic., at 25 guineas per cent., showing their confidence
in the result anticipated.
Finally, the Derecton of the several Companies interested in
the enterprise fully anticipate being able to report each day
during the laying the farm, able progress all believe in, and of
thesuctem Man undertaking which all look upon as a national
work.
It will be seen from the proposed allotment of the shares that
the distribution of them is intended to be made upon as wide a
beldam posaible, so ante give the whole of the applicants the
John
of receiving an allotment, and of being permitted to
Join an unexampled commercially profitable as well as politi-
cally important undertakln:
Prospectuses and forma olapplicalkis can be obtained of the
Credit Fonder and Mobiller of England Limited) (Alfred Lowe,
Faq..Seeretar)). at their offices, 17 and 18, Cm nblll, EC, Loudon ;
of the Imperial Mercantile Credit Assodation (Limited) (W. C.
Winterbottoni, Fag., Secreted I, at their offices, 27, Lmberd-
street ; also of the Atlantic Telegraph Company (George Silward.
Esq., Secretary)), at
_then Mims, 12, St Be en's-place. EC.. Lon-
don of the Telwoi Construction and Maintenance Company
(Limited) (W. Shutter. Esq., Secretary), at their offices, 54, Old
Broadetreet or of the Brokers or Bankers ; but no application
will be entertained unless the sum of £1 per share on 1114/11Ca1011
has been paid to OW of the Compel:Ws Bankers on the number
applied for. Eve y applicant will receive an allotment, but
Amid • less number be aliened than Is asked for, the amount
paid will be applied towards the £4 per share due on those
allotted.
London, June 19, 1886.

EIt.HT PEE CENT. PRIWIRENCE MARV; of the ATLANTIC
THLIIORAPII COMPANY.
Lease of 60,000 Shares, Ed each.

No
To the Directors of the Credit Fourier and Mobflier
of Bogle:id (Limited).
Gentlaman,—Bavhig paid to the. Bank the seen
of C being el per share on 8 per mat
preference shams of L 5 each in the Atlantic Telegraph Coen
any
above mentioned, I request you will allot Me shares In
the said Company upon the terms of the prospectus issued by
you, and I agree to accept such shares or any less number that
may be allotted to me, and to pay the further sum of Z 4 per
share thereon due on allotment.— I am, Gentlemen. year
obedient servant,
Usual signature
Name and surname In full
Profell6oo, trade, or occupation
Residence
Data June, 1865