The Sun.
London, England, 1852-04-30 00:00:00

LONDON, FRIDAY E = ItTG

N°.18;598.]

THE SUBMARINE TELEGRAPH
COMPANY,
Securing Exclusive Communication between Great Britain and the
Continent of Europe, under Privileges from the.Frenea and Belgian
Governments.
Capital 150,0001., In 30,006sbares of W. each, to be paid in full.
Liability Of Shareholders Milted to the amount of Subscription.
Offices. 30, Cornhlll.

HONORARY DIRECTORS.
His Royal Highness the Duke oftambridge.
His Excellency the Count Colonno WaleWskl,-Arubassador of France
the Excellency M. S. Vali der Weyer, Envoy Extraordinary and
Minister Plenipotentiary of Belgium
His Excellency the Chevalier Bur Pen, Envoy Extraordinary and
Minister Plenipotentiary of Prussia
His Excellency the Baron rlenfinek, Envoy Extraordinary and Mi-
nister Plenipotentiary of the Netherlands
Ills Excellency the Marods D'Azeglio, Envoy Extraordinary and
Minister Plenipotentiary of Sardinia
His Excellency Signor Isturiz, Envoy Extraordinary
and Minister,
Plenipotentiary of Spain
His Excellency th Baron Koller, Envoy Extraordinary and Mlniatar
Plehipbtentiary from the Emperor of Au lung of tnestria to the
Belgians.

cnautatax.
The;Lord De Manley.
nxnacToad.
A. Andtrson, Esq., 3t.p Director of' the Deninsalar and Oriental
Company
•
John W.Brett, Esq., 2, Hanover-square
Ernest Bunsen, Esq, Abbey Lodge, Regent's-park
Sir James Carmichael, Bart., Sussex-gardens
The llon. Frederick Cadogan, Hertford-street, May Fair
W. J. citnpltri, Esq., M.P., Chairman of the London and Sonth-West.

_
ern Rail-way; Company
Le Chevalier Dronet, Belgian Embassy
T. C. Grangerj.sq.,,Q.Q., M.P., Temple
B. Laing, it sq., Ca:airman of the London and Brighton Railway Com-
• PanY-
John Jitasterman, Ida., Esq., Nicolas lane, Lombard-street.

BANKERS-LONDON.
ltersrs. Masbertuan, Peters, and Co., iiicolas-lake
^ . Sir Claude Scott and Co., Cavendish-square. •
SOLICITORS.
tressra. Davles, Son, Campbell, and Hand, 17, Warwick-street, Be-

gent-street
Messrs. Hughes, Kearsey, and Co., 17, Bueklersbury.

L. C. liertslet, Esq.

In August, 1851, the promoters of the Submarine Telegraph
formed themselves into a French Company (Soc fetk., en Comman-
datatard.vabpshed te}es'rapltic commanica,tis.it:blifeth,DVit siucl

workd wii

-t=reguta Ity

or interruption.

A Subniarine Telegraphic communication having been thus suc-
cessfully proved, the promoters consider that the time has now ar-
rived to invite the public to c ,-operate with them in developing the
resources, and extending the advantages of this important under-
taking.

The following brief statement will show the actual position and
prospects of the Submarine Telegraph:— •
A royal charter of incorporation was obtained in 1851, but it has
been determined to surrender the same for one of more extended
powers, enabling the Company to establish a Submarine Telegraphic
Communication with all parts of the Continent of Europe.
The draft of this charter is now before the Board of Trade, and It
is believed that it will be finally granted at the next Prmy Council.
The capital of the French Company consists of 75,000 shares of 1/.
each.

It is proposed to surrender these shares for shares of a corres-
ponding value in the Company now forming under the aforesaid
extended Royal Charter.

An exclusive concession has also been obtained from the Belgian
Government, and important privileges from other foreign Govern-
ments.

The Charter of Incorporation will unite these different conces-
sions and privileges, thus becuring to this Company the exclusive
right of telegraphic communication between Great Britain and the
Continent,

The receipts of the Submarine Telegraph have never been less
than 5 per cent., although it has been severely cramped in its
operations in consequence of its present position, forming, as it
does, only one link in the chain of continental communication ; but,
after allowing an outside margin for works and expenses, and for
laying down a distinct and most complete line from Dever to
London, the returns during the past month have been at the rate of
71. 18s. 31. per cent.

In order to provide for the daily Increase of business, and to secure
the telegraphic communication with the Continent against any risk
of interruption, it is proposed to lay down a second cable between
France and England, and also one between Dover and Ostend, which
will give 16 Telegraphic, lines of communication between Great'
Britain and the Continent, and amply supply the various lines of
France, Belgium, Holland, and Germany.

Responsible parties have undertaken to lay down ihese lines with a
sufficient number of wires for any amount of traffic that can be
anticipated, for the slim of 70,0001., to include all patent rights,
and all preliminary and other expenses incidental to the Belgian
and other concessions, which will become vested in this Company.
The Charter will authorise the raising of a capital of 300,0001. ;
but under the arrangements above referred to, not more titan
75,0001. of new capital will be required to carry out the objects in
oontem

The European and American Electric Telegraph Company being
formed under the powers of the Act of Parliament in connection
with this Company, the arrangements for completing the extension
of the submarine Telegraph to London, Manchester, and Liverpool,
will be immediately concluded, when the French Government have
undertaken to provide independent wires for the exclusive use of
the Submarine Telegraph from Calais to the centre of Paris. In the
course of a few months, therefore, the Exchanges of London, Liver-
Pool, and Manchester, will be brought into instantaneous communi-
cation with that of Paris ? and the same principle may be carried
into effect with al! the other cities of commercial importance through-
out the Continent of Europe.
An estimate of the vast extension of business which must follow
such a deveLipment of Telegraphic Communication, under a system
of mo aerate charges, may be arrived at by a consideration of the
marvellous results which attended the introduction of the Penny
Postage. The day of experiment with the Submarine Telegraph has
passed, and all, therefore, which now remains is to afford every
facility to the public to avail themselves of an invention which is
evidently destined materially to affect the interests of the Commer-
cial and Political World.

Applications for the 1,500 Shares may be made to Messrs. Foster
and Braithwaite, Stock Brokers, 68, Old Broad-street, City.

PRICE'S PATENT CANDLE COMPANY.—
Notice is hereby given, that au EXTRAORDINARY
GENERAL MEETING of PRICE'S PATENT CANDLE COM-
PANY, will be held at the London. Tavern, Bishopegate-street,
Loudon, on TUESDAY, the 18th day of May next, at Two o'clock
precisely, fbr the purpose of considering the subjoined REPORT of
the DIRECTORS, proposing the formatlan of a new Company, by
the name of •• TILE NEW PRICE'S PATENT CANDLE COM-
PANY," arid of passing resolutions thereon.
By order of the Board,
CHA. RAN-KEN. Chairman,
J. P. WI LSON, Managing Director.
London, 2?th April, 1852. .

THE NEW PRICE'S PATENT CANDLE
COMPANY.

Registered Provisionally,
Proposed Capital, 260,0001., in 10,000 Shares of 26/. each, to be in-
creased to 520,000/., if required.
REPORT
from the Directors of rice's Patent Candle Company to the Special
General Meeting of Proprietors convened for the 18th day of May,
1852

" In their latt Annual Report to the Proprietors, the Directors
repeated an opinion expressed by them on several 'former occasions,
' that the true Interests of the Company would he best consulted
by serving the public continually on lower and lower terms ea in -
cres.4ed business and manufacturing power might render further re-
ductions consistent with the retention and security of the existing rate
of dividend. •

• " When this report was made, the Directors merely contemplated
a gradual redaction of prices during the currency of the patents, so
a 8 eventually, but gradually, to derive the Company's revenue from
the mere Manufacturing profits due to a combination of strong posi-
tion, large capital, and great experience in a highly -skilled trade. in-
dependently of patent rights altogether.
" Circumstances have, however, occurred since the meeting which
have led the Director* to the conclusion that the interests of the
.Proprietors will be advanced and secured by placing the Company in
such a,position ai, enableit at any moment to bring down its
prices to the minimum. - • - •
" Large importations of French Candles have been inside into
this market. They have 'tibia. frusilufrAdttired at a comparatively
high cost, yet. being in many Cases stAct avewedly without profit, for
the mere object of lightening, by this increase'et make, the manu-
facturing charges of the French factories amen .that• part of their
produce which is sold in France, they have interfered• to some ex-
tent with the export sale of the Company's Candles. at their present
prices, carrying as these prices still do a considerable patent profit
upon them.

" Processes, in some respects resembling those of the Company,
were patented some years ago in France, but have not yet been car 7
ried out there on a large scale. The French patents are now. pas.ST
• 'tiler hands- They Were offered to. the Ctunpany, and 41.
''' • • thatinesemattl.. ith a *leer merely to titer pro.-
- 's
.151' t English interbseeOtthe CoMP any ; but
.ulthriafelY de-
upon declining it, at any rate-- for the present, partly on the
grounds of general prudence, too obvious to require explanation,
.ancPpartly on account of the short period which the French patents
have Still to, run, while• any prolongation.of their original term is at
present doubtful.
" The proprietors are, of course, aware that candles manufac-
tured according to the Company's patent processes in France; can-
not be legally imported into this country, but the expense and diffi-
culty of litigation would be so much increased by the necessity of
obtaining evidence in a foreign country, that the Directors would be
glad to remove the temptation import by a reduction of prices, if
at
the reduction can be effected, they believe it may, with advan-
tage rather than injury to the Company's income.
Besides the annoyance from France, the Directors have had
within the last few weeks notice from various quarters of much likely
to arise at home. More than one company has been, or is being at-
tempted to be formed, avowedly upon the profits divided by this
Company. Any new company would, of course, have considerable
capital, and would he prepared to spend it in litigation, involving
(however satisfactory the result) a large expenditure by our Com-
pany.
" The Directors, while ready to maintain by law the rights of the
proprietors, are yet very anxious to avoid so unpleasant a necessity,
by removing the inducement to infringe their patents. The pro-
prietors will feel with them, that the many thousand pounds which a
really determined encroachment, upon the Company's patents would
soon run away with, Will be far better expended as part of the ca-
pital peaceably employed in fully developing the processes, so as to
bring the products down to a point of cheapness, such as to
make the fact of their being patent cease to be any element in their
price.
Under these circumstances the Directors, after a careful review
of all their past experience of the effects upon their trade produced
by reduction of prices, have unanimously resolved that it is expedient
to anticipate and remove the risk of interference and consequent li-
tigation in the following manner.
" The great value of the Company's patent processes consists, as
ga-rucch ilin
cheaper
into
per
aa
most of the Proprietors are aware, in their transforming almost any
fatty
bard, material,
white,
ahnodwe
purever soft,e aa d
material,r k -colo ed
produced, a n dstraotn
rate than that at which any other 'equally good material can be pro-
duced.

" Of all the inferior fatty materials to which the processes have
been applied, that of which there is the largest and most constant
supply, at a low price,is palm oil, of which about 25,080 tons are now
being annually imported • into this country from the coast of Africa.
The value of this material is so very greatly increased by its passing
through the Company's processes, that these cannot be considered
adequately developed while any considerable part of the impor-
tation is otherwise treated. But the whole power of the Company's
present factories is sufficient for only about a fourth part of the
importation.
The Battersea and Belmont I. actorles are now nearly perfect,
with all their parts duly proportioned to each other, and in excel-
lent working order. There is scarcely room for considerable addi-
tion without more or less • ditarrangement. Moreover, they are
already more than sufficiently large for the whole London importa-
tion of palm oil. • All additional supplies required must be brought,
as In fact much of the present Supply is, from Liverpool, the head-
quarters of the palm oil trade.
" The Directors are therefore of opinion, that any. further consi-
derable extension ought to be at Liverpool, and they recommend
the erection thete of works on a large scale, equalling, perhaps or
exceeding, that of the London works. Such works in the cheapest
market fur the raw material, and constructed with the full benefit of
past experience, and with abundant capital, will enable the Com-
pany to manufacture more cheaply than any possible competitor,
" The candle trade of Liverpool itself and its neighbourhood, and
of much of the North and of Ireland, would be supplied from these
new works, while the London factories would continue to work up
the London importation of palm oil, and to supply the candles used
in London and the South.

" The saving effected in the carriage of the raw material first, and
t htaot thisthe
of the manufactured produce afterwards, by the erection of works
the contemplated magnitude at Liverpool, would, as compared of
"The
of Directorstnisoned
set
fc
Liverpool
epotohleiwr
extension,nsbuftorthey orpitlas
a similar extension near London, exceed 10,0001. a-year:
with
erection think
much at least ought to be done by the winter of 1853.
" It remains to be explained how the proposed extensions are to
be effected. •
" The capital of the present Company consists of 2--J Odo shares of ,
201. each, on which 171. 10s. per share has been paid up.
" This capital being already fully employed, the Directors propose
to form a new company, with a further capital of 260,0001. (to be
doubled if required), divided into shares of 201. each.
" ahe two Companies will be amalgamated by Act of Parliament
next year, on which the 201. shares of the new Company will he
treated as equivalent to the 201. shares of the original Company,
which at present bear a premium of 6/. each.
" Such virtual premium of 61. per share paid by the new Share-
holders; will not he taken out of the concern into the pockets of the
old Shareholders, but will be written off from the patent and plant
accounts. As the writing down of these accounts will be for the
benefit of the new as much as of the old Proprietors, this will be
a virtual return to the new ones of a larie share of the premium
paid by them.
" The two Companies wit enter into an immediate contract for
the proposed amalgamation, and the Directors do not entertain the-
slightest doubt of oOtaining, without difficulty, the requisite Parlia-
mentary sanction to the contract; but provisions will be made for
an equitable
—rrangement between the two Companies, In the barely
possible event of the Act being refused, and the exact terms of such
arrangement will be communicated • to the Proprietors before sue
bind themselves to take their shares.
" A deposit of 51. will be paid on every new share, and two months'
notice will be given of any further call.
" Power would be given to the Directors, subject to the control of
the Proprietors, to carry out at Liverpool educational arrangements
similar to those which have been recently sanctioned by the Pro-
prietors, for the London factories.
(Signed) " By ord
Oer oAf theAßoar ,
" R. NL
',MEN, Chairman.
" London, April 29, 1852."

USTRALIAN GOLD.
A From the vast gold fields of Australia, said to extend over
to two
his
hundred miles of country, millions sterling are now
hty influx
country; the question is, what will be the effect of this Mig
on our currency ? An over quantity of wealth in a great commer-
cial country is a contradiction, and the way in which it may be ad-
vantageously employed is best illustrated by the magnificent and
spirited enterprises of E. MOSES and SON. They constantly em-
ploy thousands of British and Foreign artisans• in the • manufacture
of every variety of materials for fashionable dress, and thousands aro
daily working these into countless styles and patterns, designed for
elegance, use, and comfort : these artisans all henourably remu-
nerated fot their skill, talent, and industry, are convincing proofs of
how Australian gold may be advantageously employed in this coun-
try. E. MOSES and SON'S gigantic trade affords the most im-
mense advantages in the investment of gold. The magnificent and
unparalleled stock of Goods in their Wholesale Department offers to
the capitalist the most decided opportunities, if be intends to accu-
mulate wealth by legitimate commerce, to send teother, countries an
article which will Soon be sold, and leaVe hint an amazing propottion
of profit.
Un the other hand, the splendid styles, and the interminable va-
riety of their Spring and Summer Stock furnishes equal advantages
in smaller investments of the precious metal. Clothing, surpassing
in novelty of fabries, neatness, colour, and strength of material, dis-
playing the power of art and the march of improvement manifested
In every description of Spring and Summer styles of Dress, suitable
for all ages and every class in society, now more conspicuously dis-
played at E. MOSES and SON'S than at any previous season.

E. MOSES AND SON. •
lOndon City Establishment, 154, 155, 156, and 157, bilnories, 83,
84, 85, and 86, Aldgate, opposite the Church, all communicating.
7. mtlOn Wost-end Branch, 506, 507, 508, New Oxford-street, 1,2,
and 3, Ilartatieet, all communicating•
B eadford (Yorkshire) Branch, 19, Bridge-street.

S iefftela Branch, 36, Fargate.
Merchant T-dlors, Clothiers, Hatters, Hosiers, Furriers, Boc t
and Shoemakers, and General Outfitters for Ladles and Gentlemen.
The gstiblishments are closed from sunset Friday to sunset on
Saturdays, when business is resumed till Twelve o'clock.
A new Book, entitled " The Library of Elegance," containing a
Hill list of prices, and directions for self-meastrement can be had,
gratis, on application, er forwarded, post-free, to any part of the
kingdom. •

A handsome Almanac fbr the year ending 1862 can be had, gratis
on application. -

lei l'on parie Francais. I Qui stparla Italian.
Hier sprieht man Deutsch. Aqua se habla Espanol.

PUBLICATIONS.