The Sun.
London, England, 1865-10-13 00:00:00

ATLAINTITC TELEGRAPH COMPANY.
Five Pound Shares entitled to a first preferential
Dividend of 12 per bent. per annum in priority over all the
other Capital of the Company.
Issue of 120,000 Shares of £5 each. Convertible into Con-
solidated Stock on payment in full.
First light to Dividend in priority over all the existing
Capital of the Company, and equal participation pro rata
in all other Dividends or Bonuses after payment of 8 per
cent, to Second Preference and 4 per cent. to Old Stock.
£1 Per Share payable on, Application, and a further sum of
30s, per Share on Allotment. No further call in less
than three months after the allotment.
No further liability, each subscriber's liability being spe-
cially limited to the amount of his subscription.
DIRECTORS.
The Right Hon. JAMES STUART WORTLEY, Wortley
Lodge, Upper Sheen,
E Chairman.
Curtis M. Laznpson, sq., 64, Queen-streets Cheapside,
Vice-Chairman.
G. P. Bidder, Esq., C.E., 24, Great George-street, West-
minster.
Francis Le Breton, Esq., 21, Susseir-place, Regent's Park.
Edward Cropper, Esq., Swaylands Penshurst.
Sir Edward Cunard, Bart., 52, Old' Broad-street.
Samuel Gurney, Esq., M.P., 25, Princes-gate, Hyde Park.
Captain A. T. Hamilton, 12, Bolton-row, Piccadilly. ..•
George Peabody, Esq., 22, Old Broad-street.
John Pender, Esq., M.P., Manchester.
HONORARY DIRECTOR.
W. H. Stephenson, Esq., Chairman of the Board of Inland
Revenue.
HONORARY DIRECTORS LN THE UNITED STATES AND BRITISH
NORTH AMERICA.
E. M. Archibald, Esq., C. 8., H.M. Consul, New York.
Peter Cooper, Esq., New York.
William E. Dodge, Esq., New York.
Cyrus W. Field, Esq„ New York.
Wilson G. Hunt, Esq., New York.
A. A. Low Esq., New York.
Howard POtter Esq., New York.
Hugh Allan, isq., Montreal, Canada.
William Cunard, Esq., Halifax, Nova Scotia. Walter Grieve, Esq., St. John's, Newfoundland.
Thomas C. Kinnear, Esq., Halifax, Nova Scotia.
HONORARY CONSULTING ENGINEER IN AMERICA.
Gen. Marshall Lefferts, New York.
SECRETARY AND GENERAL SUPERINTENDENT.
George Seward, Esq.

SOLICITORS.
Ntessrs. Fresh&lds and Newman, 5, Bank-buildings,
London.
AUDITOR.
IL W. Blackburn, Esq., Bradford, Yorkshire, Public
Accountant.

OFFICE.
12, St. Ilelen's-place, Bishopsgat RSe-street Within, London.
BANKERS.
In London' The Bank of England
In
In Man che
Li;erpool .ster The Bank of En The Consolidated glandßank.
In Ireland
In Scotland
Branches.
In Canada and Nova
In New York Messes. Duncan, Sherman, and Co.
Scotia....,, The Bank of British North America.
In Newfoundland
Priority in the Allotment to the extent of one-half of
these Shares will be given to present Shareholders apply-
ing for the same.on or before Thursday, the 26th inst.
PROSPECTUS.
In issuing proposals for a further amount of capital, the
Directors are strengthened by the circumstances attend-
ing the late expedition, in their conviction that the enter-
prise, though postponed for this year, is yet on the eve. of
success.
The Great Eastern has proved herself admirablyadapted
to the work of laying deep-sea cables, and it has been
practically shown that, in the event of the insulation being
injured during submersion, the electricians are enabled to
calculate minutely the exact distance of the injured spot
from the ship, though it be sunk in the deepest water.
It has further been proved that many miles of a cable
like that selected by the Atlantic, elegraph Company can,
if so injured, be hauled in and repaired during the heaviest
weather, from a depth of 2,000 fathoms ; and still more,
that even when a cable is absolutely fractured, and the
broken end lies 2,000 fathoms deep at the bottom of the
tc,ean, it is perfectly poasible to find and to raise it rind
,!
in the recent expedition are unanimous in
the opinion that it is equally possible thus to raise the end
of the Atlantic Cable, which is in that situation, and to
splice it to the cable on board the Great Eastern, so as to
caomplete the communication with Newfoundland, so soon s apparatus of
ilance
manufactured. suitable strength and convenience can be
~.eAtefrtmeritic
in th
eadreto
he great
the ful consideration, therefore, the Directors have
_ ere
entreated to their chargchargeand guided by
ght of experience they trust to bring it to a success-
.
hTheywhic 1,
-ave be
ney in h they have been met by the with.
ho they have entered into a contract forContractorrenewed opera-
tions.
__Under this contract the Telegraph Construction and
Maintenance Company, in consideration of the sum of
400,000 which has been agreed on as the cost price of the
cable if paid for in cash, have already commenced the ma-
nufacture of a new cable,_to be laid down during 1866 be-
tween Ireland and Newfoundland.
The Contractors, if the said Cable be successful, but not
otherwise, are to have in Shares and cash a profit of at the
rate of 20 per cont. upon the cost.
The Contractors also undertake during 1866, without any
further charge whatever, to go to sea with sufficient Cable,
including that now left on board the Great Eastern, and all
proper appliances and apparatus such as experience has
shown to be necessary, and to use their best endeavours—
in the success of which they express entire belief—to re-
cover, repair, and complete in working order between Ire-
land and Newfoundland the present broken Cable, which
has been ascertained by recent careful electrical tests to be
in perfect order throughout its entire length.
It will be seen that circumstances have thus enabled the
Board to effect a very considerable economy in the Coin-
Pany's present operations, for in the event of success the
Company will be in possession of two efficient Cables for a
considerably less amount than would have been expended
if the Cable of this year had been successfully laid, and
another had been purchased separately.
Under these circumstances subscriptions are now invited
for the sum of £600,000, in £120,000 Shares of £5 each.
Applications from existing Shareholders will have
priority in the allotment to the extent of 60,000 Shares,
.or one-half the above capital, provided their applications
are received on or before the 26th inst.
The remaining 60,000 Shares are offered to the general
public.
This new capital will not only create fresh property, but
probably resuscitate the old, and the experience of the pre-
sent year shows that by these means the existing Eight per
Cent. Preference Stock will, in all probability, be again
placed at par in the market before the sailing of the ship
next year.
The Directors have therefore resolved at once to offer a
substantial inducement to the general public as well as to
the Shareholders to join them in this fresh effort.
These new Shares will accordingly be entitled to take
precedence as to dividend over all the other existing stock
of the Company, and to participate pro rata in all subse-
quent dividends, bonuses, or benefits, after 8 per cent.
shall have been paid upon the second Preference Stock
and 4 per cent, upon the Ordinary Stock.
The profits to be expected on the completion of this
work can be ascertained by any one who will take the
trouble to make a small car
culation by which it will be
seen that if each of the two proposed Cables can be worked
at the very low rate of only five words per minute upon
each Cable for sixteen hours a day at five shillings per
Word, the traffic, after paying the dividend charges of 12,
8, and 4 per cent. respectively, amounting together to
X 144,000 upon the capital comprised in those different
stocks, and after also paying the very large sum of £50,000
a-year for working expenses, would leave a very large
balance for paying further dividends or bonuses on the
Company's total capital, both ordinary and preferential, or
for reserve fund if preferred.
of Onot
he aPoomupandnpye,rmSuhsatrb,oe payable to either of the bankers
sum of Thirty Shillings ppearisdhoarn
eAopnplAiclaltoitomn,enant.d a further
Twenty-one days' notice of any further call will be given,
and no further call will be payable in less than three
months from the date of the allotment.
„ -(E:rospectuses and Forms of Application may be had of
14 Secretary, at the Office of the Atlantic Telegraph Com-
iitli?7, 12, St. Helen's-place, Bishopsgate-street, London ;
etst Company's Bankers, viz., the Bank of England and
1E01,17 G1.3q1, Mills, and Co., in London; the Bank of Eng-
th 11 Liverpool ; the Consolidated Bank, Manchester ;
'1611418h Linen
It astable Company Bank, Glasgow ; or of any re-
zebri obroker. Applications
the
Secretary, or to the
PanY's Bankers.

Secretary GEORGE
General SuWperintendent.

14
cr, Ate ANTIC TELEGRAPH COMPANY.
-113 orated by Act of Parliament. Liability limited to
rfl
the amount of Subscription.
/..._-,vrelve per Cent. First Preference Shares.
04 1.76 of 120,000 Shares, Five Pounds per Share. _
~, -11,14zPor Share payable on Application, and a further
.40 the -.°' Thirty Shillings per Share on Allotment.
12
d)Cruelors of the Atlantic Telegraph Company„
No. eton's-place Bishopsgate-street, London.
Oeutlern
the ba,k7sur--llaving paid to the Bank (name
pbertzlin:as
oi
,:earweshich the money is paid), the sum of £
feren-ez4Per Share on Twelve per Cent. First of £5 each in the Atlantic Telegraph Cora-
Sharee mentioned, I request you will allot me
Pectu;•lu the said Company upon the terms of the Pros-
or ell; Issued by you, and r agree to accept such Shares,
Pros-
ore
f ' less nub you,
that may be allotted to me, and to pay
urther sum of Thirty Shillings per Share thereon, due
Oh allotment.
erliarlten.—lf Previously Shareholder in the Atlantic Tele-
c-- Company please state the fact.
Usual signature ...........................
Name and surname in full Profession or trade ...... —... .......................
Residence ....................................
Date , 1865 ..................... . .....