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

Ff • LONDON FRIDAY rtf ~M3
e

N°.18,598.]

THE SUBMARINE TELEGRAPH
COMPANY,
Securing Exclusive Communication betivien Great Britain and the
Continent of Europe, under Privileges from the prench and Belgian
Governments.
Capital 150,0001., in 30,000 shares of 51. each, to be paid in full.
Liability of Shareholders limited to the•amount of Subscription.
Offices, 30, Cornhill.

HONORAY DIRECTORS
• nis Boyal Highnessß
of. the Duke Cambridge.
His Excellency the Count Colonno Walewskl, Ambassador of France
His Excellency M.' S. Van der Weyer, Envoy Extraordinary and.
Minister Plenipotentiary of Belgium
His Excellency 'the Chevalier Bunten, Envoy Extraordinary and
Minister Plenipotentiary of Prussia
His Excellency the Baron Bentinch, Envoy Extraordinary and Mi-
nister Plenipotentiary of the Netherlands
His Excellency the Diann's D'Azeglio, Envoy Extraordinary and
Minister Plenipotentiary of Sardinia
His Excellency Signor Isturii, Envoy Extraordinary and Ministet
Plenipotentiary of Spain
His Excellency the Baron Koller, Envoy Extraordinary and Minister
Plenipotentiary front the Enaperer.of Austria to the. King of the
Belgians.

_CHAIRMAN.
The Lord De Manley.
DIRECTORS.
A. AndfrsOn, ESq., 11. P Director. of the Peninsular end Oriental
'Company
John W. Brett, Esq., 2, Hanover-square •
Ernest Bunsen, Esq., Abbey Lodge, Regent's-paxk
,Sir James Carmichael, Bart., Sussex-gardens
The Hon. Frederick Cadogan, Hertford-street, May Fair
W. J. Chaplin, Esq., M. P., Chairman of the London and Sonth-West-
ern Railway Company
Le Chevalier Drouet, Belgian Embassy
T. C. Granger, Esq., Q.C., M.P., Temple
S. Laing, Esq., Chaitman of the London and Brighton Railway Com-

parry_
John Masterman, Jun., Esq., Nicolas•lane, Lombard-street.

BANKERS-LONDON.
Messrs. Masterman, Peters, 'and Co., Nicolas-lane
Sir Claude Scott and Co., Ca+endish•square.
Messrs. Davies, Son, Campbell, and Hand, 17, Warwick-sfreet, Re-
gent-street
Messrs. Hughes, Kearsey, and Co., 17, Bucklersbury.

BECICETART. .
3.4. L.. C.,

In August, 1851, the promoters of the Submarine Telegraph
formed themselves into .a French Company (societe en Comman,.
elite), and established telegraphic communication between Dover and
Calais.

On the 13th November last the telegraph was opened to the public,
since which time it has worked without the slightest irregularity
or interruption.

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

The following britif statement will show the actual position and
prospects of the Submarine Telegraph:— . •
A royal charttr 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 a!l parts of the Continent of Europe.
The draft of this charter is now before the Board of Trade, ant it
is belieted that it will be finally granted at the next Prfvy Council.
The capital or the French Company consists of 75,000 shares of 1/.
each:

It is proposed to surrender these shares for shares of a cones-
pondin,, value in the Company now forming under the aforesaid
extendedb 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 ponces•
dons and privilege's, 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 gaily 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 amply the various lines of
France, Belgium, Holland, and Germany.

Responsible parties have undertaken to lay down these lines with a
Sufficient number of wires for any amount of traffic that can be
anticipated, for the sum of 70,0001, to include all patent rights,
and all prelitidnary 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 arrangemeets , above referred to, not more than
75,000/. of new capital will be required to carry out the objects in
contemplation.

•
The Lutopean 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,poncluded, when the French Govern Went have
undertaken to prfpvide independent wires for the exclusive use of
the Submarine Telegraph from Calais to the centre Of Paris. In the
coarse of a fevinionths, 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 all the other cities of commercial importance through-
out the Continent of Europe.
An estitnate of the vast extension of business which must follow
such a develipment of Telegraphic Communication, under a system
of mo lerate 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 nor 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.

RICE'S PATEIT CANDLE COMPANY.—
Nbtice is hereby given, that an ,:EXTRAORDINARY
GENERAL MEETING of MICE'S
__PATENT.. CANDLE' COM-
PANY, will be held at the London Tavern,- ilishopsgate-street,
London, on TUESDAY, the 18th day, of May next, at Two o'clock
preeLsely, for the purpose of Considering, the subjoihed REPORT..-of
the DIRECTORS, proposing the -formatian of a new-Company, :by
the name of. ‘-‘ THE NJ W.PRICE'S PATENT CANDLE COM,
PANY," and of passing resolutions thereon, - •
By order of the Board, . . • , '
CIIA. VANKEN; Chairman?' •
'J. P. WILSON, ManaeniDireetor.

London,
,29t11,A6/11, 1852.

- •
THE NEW PRICES PATENT CANDLE
COMPANY.
Registereil_Provisionally.
Proposed Capital, 269,0001., in 10,000 Shares of 261. each,' to be in
_creased t 0520,0001., if required.
. .

;7-
from the Dire -of Friea's Patent :Candle Company to thd Special
General Meeting of Proprietors convened for the 18th clay of May,
1852:

" In their last Amine Tleport _to the Proprietors, the Direetors
repeated an opinion expressed by them; on several former occasions.
' that the true interests' of the Company *Quid be best consulted
by serving the public continually-On loWer and lower terms, as,
creased btisiness and manugliCturinir poWeri,inight render father re-
dactions Consistent with the retention:42ld security of the existing rate
of dividend.

When this report was made,,the Directors m„erOy contemplated
a gradual reduction of priceS during the currency ef' the patents, so
as 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 altogethg. •
".Circumstances hate, however, occurred since, the meeting which
have led the Directors to tire coriclitsion that the interests of the
Proprietors will be advanced and secured by placing the Company In
such A position as will enable it at any moment to bring down its
prices to the minimurn.

_ ,
"Large importations of French_ Candles have been made into
this market. They, have beeil manufactured at a ;comparatively
high cost, yet being in many cases sold avowedly without profit, for
the mere object of lightening, by this increase of make, the manu-
facturing 'charges of the French factories upon that part of their
produce which is sold in France, they have interfered to some ex-
tent with the export sale of the Cotnphy's Candles at their present
pricp, carrying as thcSe prie,es,Boll do- 4 cansirtrabte putent'proflt
upon them.

" Processes, In some respects resembling those of the Company,
were patented some years ago in France, but have not yet been car-
ried out there on a large scale. The French patents are now pass-
ing into other hands. They were offered to the Company, ani the
Directors entertained the proposal, with a view merely to the pro-
tection of the English interests of the Company ; but ultimately de-
cided upon declining it, at any rate for the present, partly on the
groulds of general prudence, too obvious to require explanation,
and partly on'account of-the short period which the French patents
have still to run, while any prolongation of their original term is at
present doubtflil.

" The proprietors are, of course, aware that candles manufac-
tured according to, the Company's patent processes in France, can-
Lot be legally imported into, this country, but the expense and eilii-
culty of litigation would Le so pa,-ch increased by the necessity of
obtaining evidence in a foreign country, that the Directors would be
gl d to remove the temptation to import by a reduction of prices, if
the reduction can be effected, as they believe it may, with advan-
tage rather thin injfiry 'to the COmpany'A income.
" Besides, the annoyance from France, the Directors have hart
within the last fe vi weeks notice from various quarters amen likely
to arise at home. More than ono company has been, or is being at
tempted to be formed, avowedly upon the profits divided by thia
Company. Any no y company would, of course, have considerable
capital, and Would be prepared to spend it in litigation, involving,
• (however satisfactory the result) a large expend4ure by our Com.
pany.

"The Directors, while ready to maintain by law the rights of the
proprietors, are yet yell 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 thestompany'e 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

Under these circumstances the -Directors, after a careful revieW'
of all their past experience of the effects upow their trade produced
by reduction of prices, hive 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
most of the Proprietors are aware, in their transforming almost any
fatty material, however soft, dark-coloured, and strong =smelling, into -
a bard, white, and pure candle material, produced at a much cheaper
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
abort Sll tons
f' are
Africa.
o
been applied, that of which there is the largest and most constant
supply, at a lowprpicoidtt intoPaini this country frO. coast ooll,et'
which
Tw
pehienWvalue of annuallythisim Material is Very greatlyincreased 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
.stillicient for only about a, . fourth part of the
importation. • -
" The .11attersea and Belmont Factories are now nearly perfect,
with all their parts' Auly proportioned to each other; and in excel—
lent working order. -There is scarcely room for considerable addi-
tion without more or less disarrangetnent. 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.Pirectors are therefore of opinion, that any further consi-
derable extension- ought to be at Liverpool.' and they recommend
the erection there of works on a large scale, equalling, • perhaps or
exceeding, that, of the. London works, < Such_ works in the cheapest
market for 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 ita 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 importatioh of palin oil; and to supply the candles used
in London and the South.

"The saving effected in the carriage of the raw material first, and
of the manufactured produce afterwards, by the erection of works of
the contemplated magnitude at Liverpool, would, as compared with
a similar extension near London, exceed 10,0001. a-year.
'-••Tttelltrectors'tlo not connne their' plans ror extension to the
erection of Ulla one set of Liverpool works, but they think that this
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 25,000 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.
.. I he two Companies will be amalgamated by Act of Pcarolmiapmenyt,
next year, on which the 20/. shares of the new Company.will be
treated as equivalent to the 201. shares of the original an
which at present bear a premium of 6/. each.
d Se
ruse, hwvirl
not
tl
be t premiumatenoouft 60/f. perthec
oeninto
shareer paid byt the new Share-
holders, 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 large share of the premium
paid by them.
" The two Companies will enter into an immediate contract for
the proposed amalgamation, and the Directors do not entertain the
slightest doubt of o3taining, without difficulty, the requisite Parlia-
mentary sanction to the contract ; bat provisions will be made for
an equitable arrangement 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 they
bind themselves to take their share
" A deposit of 51. will be paid on very new share, and two months'
every
notice will be given of any iurther call
" Power would be given to the Directors, subject to the c3ntrol 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 order of the Board,
CHA. RANKEN, Chairman.
" London, April 29, 1852."

AUSTRALIAN GOLD.
From the vast gold fields of Australia, said to extend over two
hundred miles of country, millions sterling are now pouring into this
country: the question is, what will be the effect of this mighty influx
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 fund SON. They constantly em-
ploy thousands of British and Foreign artizans in the manufacture
of every variety of materials for fa.thimiable dress, and thousands are
daily working these into countless styles and patterns, designed for
elegance, use, and comfort : these artizans all honourably remu-
nerated for their skill, talent, and ladustry, 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 (foods in their Wholesale Department offers to
the capitalist the most decided opportunities, if he intends to accu-
mulate wealth by legitimate commerce, to send to other countries an
article which will soon be sold, and leave him an amazing proportion
of profit. _

On 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 fabrics, 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.

PUBLICA TIONS.

• •
NEW NOVEL BY THE. AUTHOR. OF MARGARI G' r mArrarm.
-Now ready.at-all th 6 Libraries; in 3 v. 3l 5.:
,ADAM E E of .M OSSGRAY.
A Stork- of -Scottishlife.
By the Author or.
"Passaies in the Li le of Mrs: -litaraVet Afnitla: l," " Merklaud,"
and' "Caleb. Field;"
cLA story'awikenhfig genhinee emotions oP. inter, 3; it and delight by
its admirable pictures of-Scottish life and scenery. —2llorn;ng Post.
." Adam Graeme' is full of.,eliquent writing a: u I description. It
is an uncommon work—not only in the power of • the. style, ,in the
interest of the narrative, and in the dblineation of charade'', but in
the lessons it teacheSr".—Stm:. •