Northern Times.
Liverpool, Merseyside, England, 1859-08-15 00:00:00

Engineer.—LATliEß CLARK, C.E.
Consulting Electrician.—C. F. VARLET

Secretary
Bankers
Solicitors

-GEORGE SAWARD.
PRE BANK CF ENGLAND.
FRESIIFIELDS AND NEWMA

The following gentlemen of the highest eminence in their sewn a;
departments of practical science have consented to aid the company
by acting as a consulting and advising committee, to suggest an
regulate the preliminay experiments by which the choice of a cable
and the mode of laying it will be determined, and to assist win-
their counsels the future operations of the responsible officers
the company :

ROBERT STEPHENSON, M.P., F.R.S., &c
ISAMBARD K. BRUNEL, F.R.S., &c.
EDWIN CLARK, C.E.
G. P. BIDDER, C.E.
JOHN HAWKSHAW, C.E. F.R.S.
JAMES A. LONGRIDOE,
A WHEATSTONE, F.R.S.

Professor WILLIAM ALLEN MILLER, M.D., F.R.S
Professor 'PrrtnALL, F.R.S.
.1. P. Jotax, F.R.S.

Conimunicaion by electric telegraph between Great Britain and
America is no longer a theoretical proposition, but an accomplished

The development of this enterprise—one of the g
times—is entirely due to the Atlantic Telegraph Company
In consequence, however, of the accidents and injuries to which
the first cable was'subjected before its final and successful submer-
gence, a considerable loss, and still greater disappointment, have
resulted to the original shareholders ; but the directors are sanguine
as to the permanent success which awaits their future exertions.
The subscribers to the preferential capital now about to be issued
will not be affected by the losses of the first proprietors.
The tbtal preferential capital will consist of £600,000, in 120,000
shares of £5 per share, and of this amount not less than £300,000
will be required for the new cable; £2 102. will be required to be
paid on allotment._

,est of modern

These shares tail have all the privileges of guaranteed Preferen-
tial shares in the Atlantic Telegraph Company, under the following
resolution of the extraordinary general shareholders' meeting of
June 8, l 8 9

Resolved" That the said capital of £600,000, or so much
thereof as may from time to time be issued, shall be and is
hereby constituted preferential capital of The Atlantic Tele-
grakh Company, and the shares therein shall be ,entitled to
receive upon the amounts from time to time paid up, a
dividend of 8 per cent. per annum, payable half-yearly, out
of the balance of profit in each half-year.
" That after 8 per cent. shall have been paid on such prefe-
rential shares, all the old capital of the company shall nest
become entitled to a dividend of 4 per cent.
" That after such 8 and 4 per cent. shall have been respect-
ively provided for, the whole capital of the company shall

participat6 equally, pro rata, in iny additional protits."

for 2i
gua-
rantee of the British Government ofanBd
per
rmeploved not exceeding
The"dividen'd on the preferential share's iseenntsupreerd
annum
ntrahe ,
years, on all amounts called up
suspension of working, from injury to the
successfully.
In condition being thatthe cable shall be laid and work
In case of 'temp
time they w continue
its restoration,
cable or othercausdone"sr,inrtyghe
whGovernmentch will allowilla libealtimtehfecrr
guarantee.
The dividend during the time the cable is successfully at work is
further secured by subsidies amounting to £20,000 a-year from her
Majesty's Government, and $17,000, or more than £14,000 a-year, .
from the Government of the United States.
The company's minimum secured or absolute revenue, therefore,
without taking into account the great receipts that may be expected
from commercial and other messages, will be £34,000 a-year, com-
mencing from the day when the cable is successfully laid.
The connexion which has already been established between this
company and the New York, Newfoundland, and London Telegraph
Company, secures a full participation in the valuable privileges
and traffic arrangements possessed by them over all the telegraphic
systems in. British North America and in the United States.
In addition to the fixed annual subsidies already spoken of, the
Atlantic Telegraph Company will, by means of this connexion,
enjoy special advantages with reference to reductions in tariff, and
special facilities for the transmission of " through " messages over
the whole Continent of America, enabling them to serve the public
in a manner that cannot be competed with, and at a profit to them-
selves which could not be attained by any other company.
The construction of the next and future cables will, in many
essential particulars, differ from that of the first.
The experience now possessed by the company of the course
along which the cable has been laid, and which is the only line
across the Atlantic Ocean hitherto demonstrated to be practicable
for submerging a telegraph cable, is of the greatest value.
The further experience of this company in the electrical and
other phenomena developed by them on the longest of all tele-
graphic cables, will, it is believed, result in the working of mes-
sages at twice the rate that has lately been expected from an
Atlantic . cable. .
The directors will enter into no engagemen or contract without
seeking the mature advice of the highest scientific end
willp
form . andr
uden t .
raecnable
cal
authorities whose names are herewith published. This
them to decide with confidence upon the external
size of its conductor.
fimarpferstsantchea no ft
that tp
con-
struction of the cable; its specific gravity, its insulation, and the
alive to the The directors are fully
economy, and it is expected that a
he ample to cover the which f
the cable ; but the first obje of
manufac-
ture, ac-
the most perfect and the best
t poweru
re , i insurance, abne ce en,
b t can be constructed.
tanakdeisiatbornraiirssser wuilrloef
manufacturedo fthedirectorsca
from respectable
, will ensure the maxufacture of the newcable'
Proposals have already been received contractors
which,
These
, would ensure, under the protection of effective
offers are such
hagsubmergence and its efficient working for one
at the smtfaalclecsertedcostconsistent with efficiency and durability.
allthae t
its carefuls
penalties,
month.
Asa further precaution, the directors contemplate being able to
take out a policy of insurance to cover the risk of the successful
submersion of the cable from shore to shore.
The directors will not commenctpeheerayncenuynwtaoeprrrktikeneroetrnhtacitao:ni
stock
tl
ou
thead e
sub-"
1 anyu. , ,
scribedeo n contracts tfso tillr
reachesthe
300 amount,
000
of newand
d 8
the s
scriptions do not
the amount to that sum at least, they will return to
subscribers deposits advanced by them,
Itiosnbteteevtuebyofththise
diiireewetcoarspittalht,
untie
trifling sum per share incurred in the deducting only the
preliminary expenses atten-
dantr
theforegoing PrePosisik
arrangements, a very promising investment is offered to the origi-
nal shareholders and to the public
the great work is thereby rendered to a large extent secure an
certain.
Applications Mr tihares Will. be received, addressed to the secre-
tary
of the company, at the offices, 22, Old Broad-street, E.G.,
Lon.

lir rder, GEORGE SAWARD, SeeretOry,
22, Old Broad-street London, 1869.