The Sun.
London, England, 1865-06-24 00:00:00

REMEMBER, YOU WILL SEE YOUR
FRIENDS at " EVANS'. " After 'the Opera we
%bull Sup there!

IeTAHAN'S "
BRA W
NDH
YISKY v. COGNAC
Tuts ode crated Old IRISH WHISKY rivals the tinest
FRENCH BRANDY,
It is Pure, Mild, Mellow, Delicious, and very Wholesome.
Sold in Bottles, 3s. Bd., at the Retail Houses in London ; by
the Agents in the principal towns in England ; or wholesale
8, GREAT WINDMILL-STREET, LONDON, W.
Observe the Red Seal, Pink Label, and Cork branded
"SMahan's LL Whisky."

SA VE YOUR POOR TEETH, and Economise
your Ci„otre. —BUTCHER'S PATENT KEY-RING
NIPPERS are sold everywhere. Price ld.

VUTUAL LOAN FUND ASSOCIATION
JIL (Incorporated by Act of Parliament, WO)

14, RUSSELL-STREET, COVE NT-GAR DEN,
LENDS MONEY on Personal and other Security, in sums
of £2O to £5OO, to be repaid by instalments extending over
one, two, or three years. The large Capital of this Associa-
tion enables it to complete its transactions without delay.
No inquiry or office fees, and strict secrecy observed. Bills
Discounted at short notice. Form sent free on receipt of a
directed stamped envelope.
'the Association also lends Money for the purchase of a
house by a tenant, or tor the liquidation of mortgages, on
terms most advantageous to the borrower.
EDWARD HARPER, Secretary.

The CREDIT FONCIER and MomLrEit of ENGLAND (Limited)
in conjunction with the IMPERIAL MERCANTILE CREDIT
ASSOCIATION (Limited), are prepared to RECEIVE SUB-
SCRIPTIONS for £50,000 PREFERENCE SHARES, being the
BALANCE of the CAPITAL of
THE ATLANTIC TELEGRAPH COMPANY
Not yet issued to the general rublic, viz.: -
50,000 Preference Shares of £5 each, bearing 8 per Cent.
per Annum.
Preference Interest authorisedby Special Act of Parliament.
Deposit £1 per Share on Application, and £4 on Allotment.
No further Liability of any kind.
each Subscriber's Liability being specially limited by Act
of Parliament to the Amount of his Subscription.
THE FOLLOWING ARE THE DIRECTORS OF THE ATLANTIC
TELEGRAPH COMPANY.
The Right Hon. JAMES STUART WORTLEY, Gover-
nor of the Credit Fonder and Mobilier of England
(Limited), Chairman.
Curtis M. Lampson, Esq. (Messrs. C. M. Lampson and Co.)
London, Vice-Chairman.
3._eorge Peabody, 22, Old Broad-street, London.
Francis Le Breton, Esq., 21, Sussex-place, Regent's-park.
John Ponder, Esq., M.P., Manchester (Director of the Bri-
tish and Irish Magnetic Telegraph Co.).
Edward Moon, Esq., Liverpool
Samuel Gurney, Esq., M.P., 65, Lombard-street, London
(Messrs. Overend, Gurney, and Co.).
Edward Cropper, Esq., Swaylands, nearPenshurst (Director
of the British and Irish Magnetic Telegraph Co.)
Captain A. T. Hamilton, 12, Bolton-row, Piccadilly.
G. P. Bidder, Esq., 24, Great George-street, Westminster
(Director of the Electric and International Telegraph
Co., and late President of the Institution of Civil
Engineers).
Sir Edward Cunard, Bart., Old Broad-street, London.
HONORARY DIRECTOR.
W. H. Stephenson, Esti., late Official Director on this Board
on behalf of her Majesty's Government, and now Chair-
man of the Board of Inland Revenue.
ELECTRICIAN.
Cromwell F. Varley, 'Esq.
CONSULTING COMMITTES.
Captain Douglas Galton, R.E., F.R.S.
William Fairbairn, Esq., F.R.S., late President of the
British Association.
Joseph Whitworth, Esq., P.R.S.
Professor Wheatstone, F.R.S.
Professor W. Thomson, F.R.S., of Glasgow.
SECRETARY.
George Saward, Esq.
OFFICES-12, St. Helen's-plum, E.C.

The distribution of these shares will be made as nearly
as possible as follows :-
10,000 Shares will be appropriated to applicants who are
Shareholders in the Credit Foncier and
Mobilier of England (Limited).
10,000 Shares will be appropriated to applicants who are
Shareholders in the Imperial Mercantile
Credit Association (Limited).
10,000 Shares will be appropriated to applicants who are
Shareholders in the Atlantic Telegraph

Comany.
10,000 Shares will p
be appropriated to applicants who are
Shareholders in the Telegraph Construction
and Maintenance Company (Limited) ; and
10,000 Shares will be appropriated amongst the general

public. -
The above numbers are so far approximative as to be sub-
ject to reduction or increase according to the total number
of applications made, it being the intention, however, that
each applicant shall receive an allotment.

BANKERS.
Messrs. Glyn, Mills, Currie, & Co., Lombard-street, London.
The Union Bank of London, Princes-street, E.C.
The Agra and Masterman's Bank (Limited), Nicholas-
lane, London.
Messrs. Smith, Payne, and Smiths, Lombard-street, London.
The National Bank, London, Dublin, and its Branches in
Ireland.
The National Bank of Scotland, Edinburgh, and its

Branches in Scotland.
The Consolidated Bank, London and Manchester.
Messrs. J. Barned and Co., Liverpool.

BROKERS.
Uessrs. Laurence, Son, and Pearce, 9, Angel-court, E.C.,
London.
Ntessrs. Foster, Braithwaite, and Co., 27, Austinfriars.
ISl,_essrs. Taunton and Co., Liverpool.
Messrs. Shore and Kirk, Manchester.
e&essrs. M'Ewen and Auld, Glasgow.

Of all the enterprises of a commercial character none has
ever excited so much attention and interest as that of the
Atlantic Telegraph Company.
The reason of this is perfectly obvious ; the immense
Political importance of the Company, as well as the enor-
111°118 profit to be anticipated by its Shareholders, together
with the scientific interest attached to it, combining to a
degree not found in any enterprise having commercial
Profit for its legitimate end.
An enterprise so important, and now become so compa-
ratively easy to accomplish, appeals not only to the great
commercial interests of Europe and America, but to the
BYmpathies of all classes in both countries ; its benefits to
Peace and civilisation it is impossible to estimate.
The near approach of the period when the cable is to be
laid is already the cause of much excitement amongst all
Who are aware of the fact.
The date for the Great Eastern steamship's departure
with the cable is actually fixed for the Bth July, about a
fortnight from the present date, and it is not too much to
say that from the hour of her leaving the whole continent
of Europe and America will be intent upon watching her
Progress. His Royal Highness the Prince of Wales has
testified his warm interest in the undertaking by personally
inspecting the cable on board the Great Eastein about
three weeks ago.
The exceptional character of the undertaking is further
shown by her Majesty's Government granting the services
of two of her Majesty's men-of-war steamers, the Terrible
and the
Sphynx, to accompany the Great Eastern, and assist
In the operation of laying the cable.
In calculating the rate of profit of this undertaking, of
Course everything depends upon the scale of charges adopted
for the transmission of messages; the first tariff agreed to
With her Majesty's Government was fixed at 2s. 6d. per
Word, subsequently increased to ss. per word, but as the
time arrived when the cable would be ready for actual use,
it was seen that the mass of business this company would
oamediately find offered to it, would so far neutralise the bene-
fit of it by completely choking the line, that a representa-
tion to the Lords of the Treasury within the last few days
the subject, has led their lordships to consent to the
u°lllPahy, until Ist September next, experimentally
charging, without restriction, such rates for messages
a
8 the Company may, on full consideration, deem reason-
able and proper ;" and it is fully expected that by this
arrangement the net profits will reach one million sterling
Per annum.
The capital of the Company is composed as follows :
£lOO,OOO Five per Cent. Debentures.
£600,000 Eight per Cent. Preference Shares (of which
the present issue forms the balance).
,„ £600,000 Ordinary Shares.
4:110 amount required to pay 5 per cent.
Interest on £lOO,OOO Debentures is £5,000 per annum.
The amount required to pay the Pre-
ference Dividend of 8 per cent. on
£600,000 (of which the present issue
forms the balance) 48,000 ~
The amount required to pay4per cent
£600,000 ordinary capital is

Making a total of £77,000 ,
Leaving £923,000 per annum surplus income. Half for
Yearly of revenue above the said £77,000 is available for
Yearly bonus to the holders of the said 8 per cent. Prefer-
'Pee Shares. Therefore, on the above-mentioned calcula-
en, the total available dividend and bonus would amount
+l
"" above 76 per cent. per annum, in addition to the 8 per
ant. preference as above, making an estimated total divi-
dend of 84 per cent. per annum on these Preference Shares,
aVing, after deduction of 20 per cent. for the formation of
ntiil'enewal fund for laying down a new cable, 64 per cent.
vidend, of which 8 per cent. would be preferential divi-
dend secured by Act of Parliament.
What the price of these Shares will be a month hence,
kith such prospects, it is difficult to say, especially as the
potent to judge, at all represent the maximum probable re-
'elPtf4; but taking them as the basis for calculation, and
considering the continued demand there must be for mes-
t-ges, consequent uon the businss be-
:een the Continent p
of Europe, l
and England, America, and
telegrapharinin mind that this cable will complete the line of
~t is between San Francisco and India, i not impro-
tQe that, by the time that telegraph communication be-
6i,een England and America is an
premiumsaccomplihed fact, these
area may be worth £2O, or £l5 per Share.
N.Cnu the phalanx of talent existing in the scientific ad-
facteere of
heel Atlantic Telegraph Company, and from the
ti that t aying of the cable has been entrusted exclu-
e;Y:elY to the eminent Contracting Company who have had
)learge of the manufacture of it, and whose staff of Engi-
ere and Electricians have successfully laid most of the
mating cables, whether laid in deep or shallow seas, it
to-aY, well be believed that every precaution has been taken
shetneure the successful laying of this cable : this achieved,
only bar to the Shares attaining the high value which
is rY one acquainted with the undertaking places them at
Ivbx.ernoved ; this risk, howeVer, may easily be assessed
Li en it is mentioned that leading insurance companies and
of 7Yd's have underwritten policies embracing every risk
the confide insulation, Sze., at 25 guineas per cent., showing
nce in the result anticipated.
faVnally, the Directors of the several Companies interested
tlit'ne enterprise fully anticipate being able to report each
d'ing the laying the favourable progress all believe
oboand of the success of an undertaking which all look
as a national work.
that Übe seen from the proposed allotment of the Shares
ae lids
distribution of them is intended to be made upon
ap liue a basis as possible, so as to give the whole of the
heti cants the assurance of receiving an allotment and of
ilta,bVermitted to join an unexampled commercially pro-
ofpro" well as politically important undertaking.
, spectiises and Forms of Application can be obtained
(4ifuree_predit Foncier and Mobilier of England (Lumted)
Corlag,inwe, Esq., Secretary), at their Offices, 17 and 18,
htseoc" E.C. London • of the Imperial Mercantile Credit
lation W. C. Winterbottom, Esq., Secre-
-"I at their Office, 2 , Lombard-14mA ; goo of the At.