The Express.
London, England, 1868-01-16 00:00:00

ATLANTIC TELEGRAPH COMPANY.

The report of the directors to the extraordinary
meeting of shareholders, on the 24th inst.. has been issued.
It states—At the extraordinary meeting of the company
held on the 2nd Deoember, 1867, several gentlemen were ap
pointed by the shareholders to advise the directors with
reference to the position of the Atlantic Company in rela-
tion to the Anglo-American Company. After giving much
careful attention to the matter, the committee so ap-
pointed have made the following report to the board:
The committee first directed their attention to ascer-
tain the possibility of effecting an amalgamation with the
Angio-American Telegraph Company, believing that a union
of interests, even at the cost of mutual concession, would
have been an advantage to both companies, if a suitable
basis for such an arrangement could be discovered. They
liooordingly sought and obtained several interviews with
the directors of the Anglo-American Company, in pur-
suance of this object, and finally submitted to that board
a proposal which appeared to the committee to be a fair
aujustment of the question. The directors of the Anglo-
American Company did not, however, concur with them in
that view, and after some further nevi:dation they found
themselves unable to agree with that company they fund
basis which they could recommend for the acceptance of
the shareholders in the Atlantic Telegraph Company. In
the course of the negotiation, however, they became deeply
impressed with the great desirability of obtaining for this
valuable property a single and united management. Look-
ing, therefore, to the huge revenue now being received by
the oonipany, to the great improvement in the returns
sines the reduction of the tariff, and to the prospects
opening out fur the company when commerceand
non shall have resumed their ordinary condition,
com-
mittee are unanimously of opinion that the =lt
the company are such as should induce the shareholders
in the Atlantic: Company and the public to subscribe with
readiness, under a proper statement of affairs, the necite-
mry capital for extinguishing the rights and privileges of
the Anglo-Ameriese Telegraph Company, as provided
under the heads of agreement between the two companies
dated March 1, 1866, thus concentrating the management
in the hands of the owners of the cables, and avoiding the
expense and inconvenience inevitable in a divided n
ment. They, therefore, recommend the directorslrre
Atlantic Telegraph Company to take the necessary mea-
sure for netting forthwith a capital of 1,300,000/., to be
applied to the above object, and to the paying off the
outstanding =miaow of the employ. They recommend
that this capitalshould be raised in shares of U. each,
bearing a preferential dividend at the rate of 10 per cent.
per annum, to rank after the charge of 51,3481- per annum.
payable upon the Eight par Cent. Preference stocks of
the company. They also recommend that the new Ten
per Cent Stook should be allowed to prutieipate 'stably
in all dividends that may bed eclared out of surplus profits
after the purchase of the AneArCerican Company's pri-
vileges has been completed. (ftarid)--J. C. PlegillbOlLir
CUNLIF7/4 ALLMILD Haws, Jun., J. G. Mau:LC
W. IL Basrainisos."
In this report
!he directors imaelmom.
nay bare woo/dangly. issued • prospectus
to their report copies of the rein.--
"whiehafers intended to propose for adoption at the waning
meeting, with a view to carry oat the proposed arrange-
meat. The advantages to the 8 per act- shareholders
are too obvious to require none,. By the issue of the
proposed stock they will be at ones placed at the head of
the capital, instead of having as at present a oh=
125,0001. upon the swam before they motive an
The ordinary stork ales, besides benefiting by the unity of
intermits arising from a comiondated management, will be
nearer to dividend by 5,0001. a year than at present, and
byectutaa=ted
eg increase in the receipts and the gradasi
a mem fund, would have every hope of
ins wee plead is a sound dividend-paving posi-
tion. The resets al the new tariff has been highly estio
factory, the ranges for the coneut financial year baby
very imply SZON4IIId, le be doe prawn time, those of the
preceding year. 4

oosear sad
ued Caroni,

ROYAL ALBS= ORPHAN ASYLUM FOR DISTITOTS
COMMIX, N. CHUM/DZ.—no following 000kibulkos
Sr. Kimletal acknowledged L., sassally, U. Is.; M
r.
& K. Hehese, snanally, U. le.; Mrs. Howson, le.;
John J. Jenkins. annually, U. Is.; Bdith (Pembroke),
10a. ed.; Klee &B. Davey, assualy, 10s. ed.; Le-
man, Is.; Mrs. Beeping, =is Jervoks ;
B. saasally„ 11. Is.; Xis' O. Book Besse, ed.• O. C.
U.Ziya. 4., usually, U. Is.; Mr. J. *Mask
soa „U. Is.; N. IL, ss. • It. L. 8., 111.;
Bolgva•11. U. le.; B. 8., sormalty, ICUs.; B. 8.,
U. Is.; Kn. Iskereoil, 54.• Mrt Holborn, mo:s111 1271:
B. W. NI. W. P., sawaab&strls.) K. B. IL, astaway,
lb. ed.; Mai Mks A. , 1001.