Northern Times.
Liverpool, Merseyside, England, 1859-08-11 00:00:00

at of view, -but peculiarly so as it concerned the trade

and commerce of Liverpool. Perhaps they won

him for saying that, in consequence of I

ig to vacate the

chair very shortly, he-ha

)n Mr. Wm. Evown

to preside.
• His Worship then left, t

and Mr. William

Brown took the chair

The CHAIRMAN opened the proceedings with a few brief

___vletion of the Atlantic Telegraph b,
and the United States would confer on the country stenc-

vations, remarkinfr on the immense advantages which
”d

LWCOII

, but more especially on the commerce-of Liverpool.
Brown spoke. in so low a tone that most of his remarks
~„

inaudible to, the reporters,

The Hon. JAMES. STUART WORTLI

on coming forward

I that his first

duty vas to off
his best than

to his Woiihip, and ti

of this, the first provincial port in the kingdom, on a
occasion when he believed they were about to d'scuss

subject of the greatest possible importance. :He thanked
all those who were present for their attendance, for
he was well aware that, to gentlemen engaged in mer-
cantile pursuits like themselves, it must be, in many
cases, at considerable personal inconvenience ; but he was
extremely anxious that gentlemen beyond the sphere of those
who had been personally interested in this undertaking
should be made acquainted with its present position. it Was

with that view that he had
present occasion, and it was

;ked them to Meet him Owi thc
rith that vie-vr that the diree-

{ors had put forward the statement whiei; _had Y

fished, in order that all matters in connection withtin,
undertaking, in every d9an
department; should be fully a.

ciated by the general public. Although the undertaking had
its origin in what might almost be called an aristocratic soil,
and was, in the first instance, set on foot by shares of £l,OOO

compan

public iii it, it had been determined to offer°t

New York, Newfoundland, and London Telegraph Company.
In continuation, the honourable gentleman remarked, that a
telegraphic communication with our brethren on toe Ameri-
can Continent would give us an immense political advantage;
and if France, Austria, and lluSsia, were ever to combine
against us, an instant communication might be made with
America, which country," under such circumstances, would,
he had no doubt, support us'. As had been already observed,
the eight per cent. guarantee
.by the Government was con-
tingent on the successful laying of the cable ; but there was
this condition, that if the cable beftme for some time out of
order, the Government would continue the guarantee, and
give the company a reasonable time for the resuscitation of
the cable—say twelve months, if necessary—during which
time they would pay the eight per cent., notwithstanding
that they would not be working. After dwellinc, for. some
time on the manifold national and local advantages which would
arise from the successful completion of the undertaking, he re-
marked that he hadperhaps now said enough to put the meeting
in possession of the views of the directors. He was sorry to
say that, now for more than a year they had been inactive ;
but the real history of it was the cause which had been
often attributed, viz., the, total want of funds and capital.
They had been obliged to act with the greatest caution, lest.
at the end of the year, when posting up their funds; they
should find their assets less than their expenditure. In
conclusion, he said that be did not pretend to lay the
project before them as a positively safe investment; for
whether it should eventually be so or not rested with
Providence to determine ' • but, if they did not succeed even
beyond what they had, done already, the attempt would
elevate Lae character of the British people, and encourage
them still to proceed; and the time would, he had no doubt,
come when those who now sneered at the effort to unite this
Country with America by means of the telegraph, would see
it effected, and admit.that they had been wrong. (Cheers.)
Mr. PILKINGTON then came forward, and moved the
followingresohaion

• That this meeting, having heard the statement of the Right Hon.
Jitmes Stuart Wortley, Chairman of the Atlantic Telegraph Com-
pany, as to the present position and future prospects of this impor-
tant, undertaking, is unanimously of opinion that this great
international project is worthy of the most general and zealous
•
support.

ile-ws firmly of opinioittbnt .fkq. untlertakina Would be
carnal oub, awl it, way TCSI,Co Inc puuki. w -burpOrL
and assist in completing the great work.
- Mr EDWARD MOON seconded the motion.

Mr. JAMES &trim, in a lengthened speech, drew attention
to the possibility of competition by other companies, in
which case the guaranteed dividend by government might
be effected. He contended that. government ought at once
to have subscribed one-half the capital, as a national under-
taking ; and he (Mr. Smith) confessed that if he took
shares, it would not be with a view to profit, but on national
grounds.

- The resolution was unanimously adopted.
Mr. JAMES AIKEN proposed the next resolution :
That the best thanks of this meeting are due, and are hereby
presented, to the Right lion. James Stuart Wortley for his lucid
statement.

He said, that atfbr the very clear and eloquent statement of
the right hon. gentleman he should not deem it his duty to
trespass on their patience. The great object here was to
listen to that statement. He had listened to it ; and although
he Was not one of the original shareholders, he must say
that the statement had carried conviction to his mind,
so much so that he was prepared to take a number of
shares. (Cheers.) He differed much from his friend Mr.
Smith, for he believed it was not only a great national
undertaking, but a great commercial and moral under-
taking ; and he boldly said that he subscribed in the
belief that it would be a profitable concern. He recom-
mended gentlemen who intended to subscribe, to do so
at Once' and lose no time in taking up their shares. lie
thought that such an undertaking ought mainly to be
carried out in Liverpool, and hope that it would find at
least two-thirds of the capital

The resolution having been seconded, was carried unani-
mously. _ _

Mr. WOUTLEY having briefly returned thanks,
A vote of thanks to the Mayor was carried unanimously,
which was acknowledged on the pact of the Mayor by Mr.
CnnisTornEn BUSHELL, who had now taken the chair, in
consequence of Mr. Brown being compelled
cal to leave. M
and
r.
Bushell observed that the commercial, politi, moral,
religious advantages involved in the completion of the tele-
graph rendered subscribing to it not only a duty, but a
privilege.
The proceedings were here brought to a close.
The following circular was distributed at the meeting

The laying of the first cable has demonstrated the almost certain
success which will attend all future well-directed efforts, to sub-
merge a telegraph across the Atlantic between Newfoundland and
Ireland.
The many important messages transmitted through the first
Atlantic cable,,serve to illustrate the great advantage of attempting
to restore communication, and show clearly the benefits to be
derived by the nation, and the large pecuniary results that may be
expected from its permanent establishment.
The success, therefore, though partial, which has attended the
company's first and most arduous step in their proceedings, must
be looked upon as a great scientific triumph, out of which, here-
after, the most valuable commercial results will arise.- Even the
disappointment which has at present overshadowed the original
enterprize, though due, in some degree, to the great novelty of the
work in its first stage, has chiefly arisen from the exceptional acci-
dents and Irons a combination of circumstances most untoward,
and unlikely to occur again; and the undertaking is in no respect
less worthy of support, either morally or as an
eagerlyinv estment
sought o f
capital, than when at its origin the shares were
after.
On the contrary, the high principles on which the company has
been conducted; its increased subsidies from government; the
guarantee of eight per cent.; the valuable traffic arrangements in
America ; the absolute certainty that messages can be telegraphed
at a fair speed across the Atlantic • the probability of obtaining a
policy of insurance to cover the risk Of submersion ; the willingness
of contractors to guarantee, under large penalties, even the due
and proper working of the cable, after it is laid down ;—all these
are elements of a new and valuable character, which raise the un-
dertaking from its originally kieculative position, and render it if
'Very fair and promising investment, Independent of its national
features.

No public undgrtaking of similar novelty and importance has
ever
been at once so rapidly and successfully developed as the
Atlantic Telegraph, and few have been brought into a similar posi-
tion at a smaller preliminary cost, in proportion to their magni-
tude. In the month of June, 1857, the enterprise was entirely un-.
tried, and its possibility generally disbelieved. In the month of
August, 1858, it had become a ecrikonstrated fact—unequalled in
the world's history.
The directors are striving to the utmost, to profit by the expe-
rience which constant attention to the business of tho cos
has
enabled, them to obtain. They have pledged themselves not to
spend any money in new works, until they have laid the informa-
tion at their disposal before the most eminent scientific authorities
of the age, and obtained their mature decision ; with this object thr,y
have secured the warm and cordial co-operation of the following
eminent gentlemen, who will form a Consulting CoriAnittee to in-
vestigate the whole question and advise the Directors and the re-
sponsible officers of the Company, ss to the best arraßgemelt of

,sporting iltettignyte.

READING RACES

WEDNESDAY.
The FastharnOstead Park States of 5 sous each, with 50:uttle&
One mile and a quarter.
5 6 Mr. Jaeoh's Eltham Beauty
9 0 Mr. Hare's Misty Morn 2
Nine ran..
Balmershe Plate of £lOO. Five furlongs.
Clemanthe
Chere Arnie

After a dead heat. Twelve ran.
The Abbey Stakes of £lO each : 50 added. Five furlongs'.
Mr. J. Day's Cherie Arnie
Mr. Saxon's White Rose

Four mu..
The Berkshire Stakes of £2O each, with 100 added. About two
miles. ,

8 12 Mr. Shelley's Lifeboat
7 9 Mr. Wlliam's York...

Six ran.
Ladies' Purse

Miss Eleanor
Little P 011....

.........
Borough plate'

Brenhilda
Chantress

NO BETTING

CRICKET

NORTII V. Gurrrunlitr.N OP 'r m. SotrTn._
Gswr"--- match. commences to-da
This, tile return. ,
t fail to produce an e • ' - -
nd and "um) xeltulT Contest, as both.
Y, OA the Edge hill
grOu 'ip very strong. The match Will omuspy three days, the
'uilietts being pitchqd each day at twelve cie.loek. The respective
sides OW, :—Nortli : .D. Bleackly, Esq., . s.
F. Branch, Esq., D., Buchanan, Esq., G. Hampshire, Esq
Lockhart, }]s(l•, Jos. M A
akinson, Esq., :A• Horner, Esq„ W. P.
thur F. Payne, Esq., Wm.
\.
Prest, Esq., F. It Price, Esq. A. IL Rowley, Esq. ' Sputh : E.
Dowson, Esq., G. T. Estridge, Esq.,
H. Freer°, E1:41., J. II- ll'd
Esq., C. 11. Hoare, Eq.,s H. Marshall, Esq. F. 11, Miller, Esq., E;,
Napper, Esq., J. Walker F.sq 3 A. H. Walker, t;sq„ V. E. Walkers
Esq. Umpires, Perry and Atimson.

A Welsh main • a Bowls was played yesterday, Tio the Aintree
Sube,eription Ground, for a handsoruo alive: cup, presented by the
proprietqr, M. Joseph Wilkins. Darkness put an end to the game.,
Porter and Iluckley at tl% time having to play oft.

TOWN COUNCII

YESTERDAY

An adjourned meeting of the Town Council was held
yesterday, William Preston, Esq., Mayor, in the chair.
Mr. JEFFERY rose on a question of privilege. lie said,
before the council proceeded with the regular business,
he had to ask their indulgence on a Question of Drivi-

member

on the last day of t
ho believed it his

rerafive to
Parliamen

r personal to themselves

le:rccollection of the counqil that,
incidental to a debate, in which

1 in London, when a bill was before

porate &ellequer to that of ti

Board, it T

truth in what he sait

erroneous,

Rir.se ti-

granted a millior. 'an

If compen.sa

a for the town

In reference to lii
Ridge, and bragg,c
man present on I
moray of .11r. Turner
name of the gentlen
oeeathon referred to, but who N

liter.) There was 'a, gentle:
ivho corrsborated the testi-
Ile (Mr. Jeffery) mentioned the
Nhom he had acted on the
FRS not in his place when he
on the last day. That gentleman
was now in his place, and he would ask him, by the per-
mission of the council; to state to the council what took
hlace on that occasion, to which he was a party as well as
imself. It would then be for the council to say whether
the remarks he made were torrect or not. He would there-
fore ask Mr. Gladstone to state what took place.
The MAYOR IRA it to the council whether they would
hear Mr. Gladstone ; and the council assenting,
Mr. GLADSTONE presumed that on the present occasion
his duty would be to confine himself strictly to those matters
which the newspapers had reported. as a " scene" between
31r. Jeffery and the chairman of the Dock Board, Mr.
Turner, and not attempt to digress into any general remarks
having a reference to observations made by either of the two
speakers on the occasion of the last meeting.of that council.
With reference' to the first point of which he believed he
was to offer a remark upon,—the proceedings of the Birken-

made the observatioi