The Sun.
London, England, 1865-08-10 00:00:00

SCHOONERS.

H. M. S. H. M. S.
Circa
I
Intriguo

Wind, W.S.W., mdderate ; tide running strong east-
ward.

When our parcel was despatched the leading boats were
off Ryde-pier, making for the west buoy of the middle,
their relative positions unchanged from the Nab, and the
wind continuing moderate from W.S.W., with every pro-
bability of the race being concluded within the prescribed
time, 8 30 p.m., if the wind did not entirely drop.
The time allowance, according to Ackers' scale, is as
follows :—Hirondolle gives—Marina, lmin. 15soc. ; Vo-
lante, 2min. 45sec. ; Christabel, smin. 7isec. ; Amulet,
Gmin. ssec. Circe gives—Intrigue, 3min. 28soc. ; Flying
Fish, smin. 42sec. Intrigue gives—Flying Fish, 2min.
18sec.

SCULLERS' RACE FOR £5O.
A scullors' race for £25 a-side took place yesterday iron!
Putney to Mortlake between John Biffen, of Hammersmith,
and James Dore, of Wapping, both young watormen, one
of whom is not yet out of his apprenticeship. Betting was
guineas to pounds on Dove. Both, although in early life,
have rowed previous matches with much credit to them-
selves, and a good race was anticipated. Citizen M accom-
panied, with a large number of speCtators on board. Harry
lielry, now champion of the Thames, showed Biffen his
course up, and Stephen Salter did the same kind office for
Dove. Mr. Ireland, of the London Rowing Club, was
umpire. Biffen won the choice of station, and took the
Middlesex side. They went away together, and Biffen,
with a great sweep, drew half his length clear at the Star
and Garter, but Dove, settling well to his work, came on a
line with him at the London Boathouse. There Biffen
again drew slightly in advance, but was unable to retain
it, and at the Point Dove had not only rowed level, but
headed him slightly. Biffen again burst away, ani, be-
coming nearly a length clear, took his opponent's water so
precipitately as near to cause a foul, but Dove was too
weak in the handnecessary to bo pulled hard to avail him-
self of the advantage. Fiom this point Biffen continued
the lead, but with the utmost difficulty, and won by only
half a clear length, after being at ono time three lengths
ahead. Time, 24 min. 7 sec. Both men were much dis-
tressed.

The Atlantic Telegraph Company.

An extraordinary general meeting of the share-

holders of the Atlantic Telegraph Company was
held at the London Tavern yesterday afternoon.
The Right Hon. J. S. Wortley, chairman of the
company, presided, and there were about 60 share-
holders present. The business had been arranged
previous to the recent interruption of the enterprise,
and was solely of a financial character.

The CHAIRMAN said :—Gentlemen, before pro-
ceeding to submit to you the resolutions necessary
to carry out the objects which are indicated in the
notice of the meeting. I feel that some explana-
tion is perhapedue from us relative to the circum-
stances under which the meeting was called. I will
confess to you 'at once that the notice was drawn
and the resolutions I am about to submit to you
were framed under very different circumstances
from those that at present exist. We resolved some
time ago, under the prospect and immediate hope
of laying the cable, that no time should be lost in
occupying the ground which otherwise would be
quickly taken by others, and making such arrange-
ments for capital or money power as would enable
us to enter the field with competitors, and to in-
- crease the means of communication by telegraph
with the continent of America. I need not tell you
in what respect circumstances are now altered ;
but we still feel that, while many think the
case is desperate—l shall not intrude my opinion
on that subject—while many would deem the success
of the present cable almost hopeless, yet even in that
condition we believe it would be for
the benefit of
the Company to render the capital more divisible
and more manageable by converting it into stock.
That is one of the main objects for which this
meeting is called. There is one other thing which
may sound as a mere fiction at the present time,
namely, to ask you for power to issue fresh shares,
to raise new capital to the full extent of our parlia-
mentary powers. The original powers were for
£2,000,000. Of this £1,200,000 has been raised at
different times. I will not enter into detail as to
how that has been applied, but you have given your
confidence to your directors, and you have approved
of the course taken. We cannot tell, unpromising
as our present condition is as regards this cable—
we cannot tell what 24 hours may bring forth, and
I can give you no information. We are expecting
every hour to receive some more detailed and satis-
factory statement. No one can tell what our posi-

tion may be a week hence ; but, supposing our hopes
are gone for this year, yet these resolutions, if car-
ried out, will enable us to struggle against those
difficulties, and, I hope, to revive this great under-
taking. (Hear, hear.) Now, gentlemen, I have
often met you and received your indulgence under
circumstances of great difficulty and discourage-
ment, and, during the seven years I have had the
honour of presiding at these meetings, I have
never been deserted by the shareholders. I did
think, at the meeting which took place a week
to-day, that I should now have to congratulate
you upon your success. Providence has ordered it
otherwise. Still I would advise courage and perse-
verance. It is universally admitted that this is one
of the greatest undertakings the world has ever
known. It is universally admitted that if com-
pleted the benefits will be beyond description. It
is almost universally admitted that this great enter-
prise
will at some time be 'accomplished. Let us,
then, relying on the commercial energy of the Eng-
lish people, let us persevere, and hope for a better
turn of fortune. (Hear.) There are at the present
time some circumstances calculated to give us en-
couragement; for although we take it as a fact that,
this expedition for the present has failed, we know