The Express.
London, England, 1859-06-27 00:00:00

(Stamped Id. Additional.) [TWOPENC.E.

THB ATLIN7IO TELBOILIPH COMPAAY.

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The Atlantic Telegraph Company have issued
their advertisement inviting subscriptions for the
600,0001. of preferential 8 per cent. capital, in shares
of 51. each, the creation of which was authorised at
the last meeting. This capital will be entitled to
the whole of the profits np to 8 per cent. The ori-
ginal share capital is then to receive! per cent., and
any profits beyond will be equally distributed
between the two classes. The points pressed upon
the public attention may be summarised as follows :
3. That on the former occasion the cable had been
decided on and contracted for before the present
directors came into office.
2. That, though now known by experience to
have been somewhat too heavy as to its specific
gravity, it was then a great innovation in the direc-
tion of lightness, and was censured on that gr,und.
3. That a board of directors, like other bodies, has
to learn its business, and that men who have bad
nearly three years' training, and who during that
time have paid close attention to the subject, are
naturally in possession of experience which a raw
set of directors might have to leara by losses and
failures.

4. That the board have shown themselves fully
alive to the necessities of their position, and have
wisely preserved and extended their connexion with
successive governments.
b. That the company has been managed in the
spirit of a great public institution, and not u a job-
bing speculation.
8. That no public undertaking of similar novelty
and importance bas been wore rapidly developed,
considering that in the month of June, 1867, the
whole project was an untried and doubtful theorem,
whilst in the mouth of August, 1868, it had become
an accomplished fact.
7. That the subsequent failure of the cable may be
fairly attributed to the rough handling which it
underwent after the first failure, having to be re-
coiled, stored in tanks, re-coiled into the ships, and
afterwards subjected to the severest series of gales
that have happened in the Atlantic for many years.
8. That the directors are doing all they can to
profit by the put; they pledge themselves not to
spend any money on another cable till they have
consulted the first scientific men of the age, whose
names will shortly be published.
9. That the jfovernment privileges and the traffic
arrangements in America are highly valuable in
themselves, and will ensure a permanent basis of
success when the cable is laid, the guaranteed income,
without a shilling from public, mercantile, shipping,
or commercial messages, being 34,0001. a year, be-
sides the guarantee of 8 per cent. on 800,0001.
10. That the directors will effect policies of insur-
ance, guaranteeing the successful submersion of the
able; therefore that question (the most serious of
the whole) will this time rest on a perfectly safe
basis.

11. But beyond this, contractors are ready to
make, and lay, and work successfully for 30 days
after it is laid, a cable such as men of the highest
scientific character shall recommend.

The contractors will take part of their money out
of pocket in shares. They will postpone all their
profit until after the cable has worked at a defined
commercial speed for at least thirty dap. Their
profit will be reckoned in the form of a commission
upon the whole coat as ascertained by a public ac-
countant ; and if they fail in working the cable dur-
ing thirty days complete, they will forfeit the whole
of their large profit, and a further sum of 10,0001.
in hard cash, to be held back out of the cost price of
the cable until full completion of the contract.

The annual meeting of the members of the
Society for Promoting the Amendment of the Law, for the
reception of a report from the council and the election of the
officers, was held on Saturday last, under the presidency of
Lord Brougham. On the motion of 81r F. Goldsatid, Lord
13mugbam was re•eleated president.
LONDON SOCIETY FOR TEACHING THE BLIND
TO READ.---A meeting of the friend, of this institution was
held on Friday, at the office,, &divine-street. Piccadilly,
for the purpose of electing four children, two boys and two
girl., from a list of eleven candidetse ;, Mr. H. Harwood
Harwood in the chair. The proceedings were of a purely
formal character, the following, however, woe submitted to
the meeting " The committee take this opportunity of
earnestly pleading with their subscribers for fresh efforts to
aid them is their labour of love, continued for years., for this
stSictsd class of their fellow-matures, of whom there are
18,000 in England. They specially salt for 1,400 f. to pure
eb ass the Ira.. of the premises at Regent's-park, thereby to
rave rental amounting to 754 per annum, and to enable
them by the resources thus saved to eupport four more free
pap Is each year ; at present they can only elect four can-
didates at this election. They are very anxious oleo to re-
erotoss several volumes of the Holy Scripteres (tome of
which have paused into • thirt edition), for which constantly
increasing demands are made. These channel. of bounty
they again prayerfully press on their old friends, and be-
rm& theca in the liberality of Christian love to exert them-
selves to enlist fresh soppotters." At the elms of the poll
the names of the auserodul candidates were announced.

Tililliffalle DRAINAGE SellEMS.—Considerable
Crhas been made, under the direction of the Metropo-
Board of Works, in carrying out the plan for the main
drainage of the metropolis north end south of the Themes.
On the north bide of the Thames, for some time
pest, • number of men under the instruction of the
engineers of the board, have, in various parts coonteted
with the lines of the upper and lower main sewer., been en-
gaged in sinking shafts, for the purpose of finding the strata
in which the arch of the sewers should be erected. Various
moils of sand, earth, and clay, here been pawed through,
and, at a depth of about 50 feet, 'firm. clayey soil, of a straw
colour, wee met with. This was of • considerable extent.
Every exertion his been made to obtain a solid foundation
In which to build the mein upper and lower sewers,
and considerable progress has been made on the north side of
the Thames, in that which • few weeks ago woe commenced
at Hackney to pees through the marches to Barking Creek.
On the south side of the '1 lames, en application will be made,
in • few days, to commence the upper and lower south main
drainage scheme., each of which will join et Deptford Cr(ek.
One line will commence at Putney, and will go easterly
through Lambeth perish, the pariah of Camberwell, &c., to
Deptford. The other line will ocionnesee in the High-street,
Clapham; in connexion with this will be a branch sewer,
wider Dulwich. This will be serried through the parish of
St. George, Southwark, the various parishes of the borough
of Southwark and Bennonds'y to Deptford Creek. Here
wall be erected, on the estate of Mr. Smiler, which will be
purchased, a pumping station, for the purposes of ratting the
sewage from the lower into the upper line of the main
drainage sewer.
METROPOLITAN Tou.S.—The metropolitan toll
gates were put up to auction on Friday. The competition
was brisk, end some passed from their late holders. They
bare almost ell risen in value More last year—come con-
siderably. Lest year the Kensiegtoo, Brantford. and Isle-
worth roads produce' 14,9801. They were ►knociel down on
Friday for 15.4901. The Tyburn gad Uxbridge reeds this
year realised 10,8101.; lest year they produced 10,1801. Last
year the Highgate and Hempecerd roads produced 13,4101. ;
this year they produced 14,020/. The Marylebobe and
Finebley reed. realised lest year 1.6001., and on Friday
1.8001. The tolls were sold for 61,2001. i hust year they pro-
dead 118.8101., bring an exceeds this year of 4,590/.
A Nam' PUBLIC CORNAMEXT.—A correspondent of
the Vases, writing on Saturday, ee ye :—.. For SOW* little
time past a Pell hoarding in the middle of the road at Hyde-
park-corner has indicated and lakewise concealed the progresa
of same rivet, nines work behind. Yesterday morning found
the veil removed, and there stands a clock, which, even
if It was not mounted in the most gimcrack manner, is
loarcely needed, as there Is already one over the por-
ter's lodge, about thirty yards distant; but I complain
not so mach of the clock es of its substructure. Ridi-
cule and indignation were the alternate sensations of
every passenger along Piccadilly at beholding a square
glared pedestal, fitted with glass frames, contaMinr, in
types of different hem such advertimmente ea Dr. Baba's
Anatomical Museum and Tmellit's Hair-entaing Rooms,
Jet ; • vacant slab is probably waiting for Moses sod goes.
By whose authority can this classic ornament have been
pi/wed in the prMdpel approach to London ? A clock was
oboe oa the point of being plead 'in the Marble Arch, end
is this one Load John Manners's lest legacy to his ungrateful
country?"
THE COINAGE.—The total value of the gold
maned last year was 1,231,023/.,—vis , 803.234 eowereigas.
sad 427,789 half.soversigna. The silver pieces coined in-
cluded 2,239.380 form, 3,108,800 *billing., 1,932,480 id:-
pewee, 4,168 foorpenoy pees. 1.445,928 Omegans. piers..
4.762 teroapeany pieces, sad 7.920 ,twee. The total Talus
of the silver coined was 446.8981., and the real oast or value
'of the Foetal 432,6781. We Aware' that cravens, half-
crown*, and great. have not been coined for several years,
although Lord O,eratene, in hie Berri on Decimal Coinage.
recommends the withdrawal of the 2e. (" ilotla / Fle e. and
the restoration of the mown end half-crown piece.. The
total velar of the copper coinage of lee' year was 13,4401. ;
the ;deem coined Included 6,196 pence, 5,162 Wipers" end
1,745 farthings. Halt-tart imp have sot hem opined since
11168.

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