The Sun.
London, England, 1865-06-21 00:00:00

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The distribution cf these shares will be made as nearly
44 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
10,000 Credit Association (Limited). .
Shares will be appropriated to applicants who are
Shareholders in the Atlantic Telegraph
n Company.
Ivoo Shares will be appropriated to applicants wh6 are
Shareholders in the Telegraph Construction
10 n and Maintenance Company (Limited) ; and
,-00 Shares will be appropriated amongst the general

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

BANKERS.
Messrs. Glyn, Mills, Currie, & Co., Lombard-street, London.
,t,he Union Bank of London, Princes-street, E.C.
'he 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
ri,,o'ranches in Scotland.
1,.143 Consolidated Bank, London and Manchester.
Messrs. J. Barned and Co., Liverpool.

BROKERS.
Messrs. Laurence, Son, and Pearce, 9, Angel-court, E.C.,
,London.
Z,.etsars. Foster, Braithwaite, and Co., 27, Austinfriars.
;rears. Taunton and Co., Liverpool.
Viessrs. Shorn and Kirk, Manchester.
'essrs. M'Ewen and Auld, Glasgow.

Of all the enterprises of a commercial character none has
r,4er excited so much attention and interest as that of the
.Atlantic Telegraph Company.
i.The reason of this is perfectly obvious ; the immense
political importance of the Company, as well as the enor-
Tla profit to ba anticipated by its Shareholders, together
/4/11t1 the scientific interest attached to it, combining to a
profit
not found in any enterprise having commercial
vl'ofit for its legitimate end.
4-11 enterprise so important, and now become so compa-
, lvely easy to accomplish, appeals not only to the great
~,-"elnercial interests of Europe and America, but to the
„ "tpathies of all classes in both countries ; its benefits to
vea
ee and civilisation it is impossible to estimate.
near approach of the period when the cable is to be
fa already the cause of much excitement amongst all
';e, are aware of the fact.
1,,i-tuahe date for the Great Eastern steamship's departure
fr,„ the cable is actually fixed for the Bth July, about a
ti"efght from the present date, and it is not too much to
°fY that from the hour of her leaving the whole continent
D, 4irope and America will be intent upon watching her
Seas. His Royal Highness the Prince of Wales h
as
ed his warm interest in the undertaking by personally
irPectin the cable on board the Great Estero about
The
Weeks ago.
rs' he exceptional charaCter of the undertaking is further
ohf;m11. by her Majesty's Government granting the services
ht.ftine ;:t of her Majesty's men-of-war steamers, the Terrihle
Sphynx, to accompany the Great Eastern, and assist
v"3 operation of laying the cable.
,'•l3. calculating the rate of profit of this undertaking, of
jultrse everything depends upon the scale of charges adopted
1%,°., the transmission of messages; the first tariff agreed to
‘Thi'll,ber Majesty's Government was fixed at 2s. 6d. par
ti.-1.", subsequently increased to ss. per word, but as the
it arrived when the cable would be ready for actual use,
was seen that the mass of business this company would
At nlediately find offered to it, would so far neutralise the be ne-
ef it by completely choking the line, that a representa-
n°ll„to the Lords of the Treasury within the last few days
61,13 the subject, has led their lordships to consent to the
(4 lePaoy, until Ist September next, experimentally
atiet_argig, without restriction, such rates for messages
abl ee Company may, on full consideration, deem reason-
aud proper ;" and it is fully expected that by this
pe',.llgement the net profits will reach one million sterling
- annum.
The capital of the Company is composed as follows :-
4100,000 Five per Cent. Debentures.
£600,000 Eight per Cent. Preference Shares (of which
the present issue forms the balance).
1,1,
e 4600,000 Ordinary Shares.
'l amount required to pay 5 per cent.
Til,aterest on £lOO,OOO Debentures is £5,000 per annum.
Ferr amount required to pay the Pre-
once Dividend of 8 per cent. on
00,000 (of which the present issue
formsT the balance) 48,000
amount required to pay4per cent.
°lt £600,000 ordinary capital is

Making a total of £77,000
kbg £923,000 per annum surplus income. Hlf the
y-ps°llllt of revenue above the said £77,000 is available for
e, Vl3- bonus to the holders of the said 8 per cent. Prefer-
e° Shares. Therefore, on the above-men .1)
to MI the total available dividend and bonuswould amount
o,,a,beve 76 per cent. per annum, in addition to the 8 per
Preference as above, making an estimated total divi-
le-8.7‘;1 of 84 per cent. per annum on these Preference Shares,
a innewalafter deduction of 20 per cent. for the formation of
fund for laying down a new cable, 64 per cent.
de'clend, of which 8 per cent. would be preferential divi-
Ld secured by Act of Parliament.
s 4"/ hat the price of these Shares will be a month hence,
,ih. such prospects, it is difficult to say, especially as the
1)0"r,_ es above given do not, in the opinion of persons com-
%.'ent to judge, at all represent the maximum probable re-
cele.B.,; but taking them as the basis for calculation, and.
4:inering the continued demand there must be for mes-
tly", consequent upon the ever-increasing business be-
-1),°°11 the Continent of Europe, EnFland, and Americ.a, and
ttf,„l.l2g in mind that this cable will complete the line of
haf,'ra, Ph between San Francisco and India, it is not impro-
tw 's that, by the time that telegraph communication be-
fiheen England and America is an accomplished fact, these
P' es may be worth X2O, or £l5 premium per ShaFe. _
Di,„,r(nn the phalanx of talent existing in the scientific ad
of the Atlantic Telegraph Company, and from the
tibo. ,inat the laying of the cable has been entrusted exclu-
th:iY to the eminent Contracting Company who have had
iie„s`tge of the manufacture of it, and whose staff of Engi-
,,,:4:B: and Electricians have successfully laid most of the
ka-„"tilg cables, whether laid in deep or shallow seas, it
1,0 4 Well be believed that every precaution has been taken
the'innare the successful laying of this cable : this achieved,
eye only bar to the Shares attaining the high value which
one acquainted with the undertaking places them at
1111,724eved ; this risk, however, may easily be assessed
1,10;:i ft is mentioned that leading insurance companies and
have underwritten policies embracing every risk
ihei,Jing, insulation, &c., at 25 guineas per cent., showing
confidence in the result anticipated.
tIIIIIMIY, the Directors of the several Companies interested
day, enterprise fully anticipate being able to report each
14, a",n,,ring the laying the favourable progress all believe
bpo-' of the success of an undertaking which all look
It asa national work.
that v,,1•11 be seen from the proposed allotment of the Shares
Its the distribution of them is intended to be made upon
;tPic a basis as possible, so as to give the whole of the
Nib -r4cents the assurance of receiving an allotment and of
eta 11erinitted to join an unexampled commercially pro-
pro as well as politically important undertaking. _
of thßectuses and Forms of Application can be obtained
Alf,e'e,uredit Foncier and Mobilier of England (Limited)
Assoc: Esq., secretary), at their Offices, 17. and 18,
"' 8.0., London ; of the Imperial Mercantile Credit
tar„,iation (Limited) CW. C. Winterbottom, Esq., Secre-
Itattbr;i a,rtLetiheeir Offices, 27, Lombard-street ; also of the At-
graph Company (George Sward, Esq., Secre-
(3f th a' their Offices, 12, St. Helen's-place, E.C., London ;
(14Itti. ;fl:P,legraph Construction and Maintenance Company
51, 011,C) OV. Shuter, Esq., Secretary), at their Offices,
110 a, , Broad-street ;or of,
the Brokers or Bankers ; but
cip,t,ePolifation.will be entertaMed. unless the sum of £1 per
receives atlket4 application has been paid to one of the Company's
on the number applied for. Every applicant will
"iaa jan allotme t, but should a less number be allotted
the 4,1 4eited for, tnhe amount paid will be applied towards
tem°ll3 er Share due on those allotted.
' 19th June, 1865.

PER CE PREFERENCE SHARES
4T LAN N.
TICT ANY.
TELEGRAPHIC COMNY. OF
Issue of 50,000 Shares, £5 each.
tiTocltc,hzetibe irectors of the Credit Fonder and Mobilier of
England (Limited).
et the paid to the (insert bankers' name)
Itht ha - sum of £ , being 11 per Share on
ticir,r Cent. Preference Shares of £5 each in the At-
Zlll liotaph Company
themabove-entioned, I request you
Ns e Shares in said Company upon the
414 ')f the P
to Ruch c„,Prospectus issued by you, and I agree to ae-
due a,
I:nmaerenst. or any less number that may be allotted
04altild to Pay the further sum of £4 per Share thereon
Gentlemen, your obedient Servant,
Usual signature
Name and surname in full
Profession, trade, or occupation
Residence
Date June, 1865

A.D. 1720.
ROYAL EXCHANGE ASSURANCE
CORPORATION
(.Established by Charter of his Majesty George the First)
FOR SEA, FIRE, LIFE, AND ANNUITIES...,
Offices, Royal Exchange, London.
Branch Office, 29, Pall-malL •
OCTAVIUS WIGRAM, Esq., Governor.
JAMES STEWART HODGSON, Esq., Sub-Governor.
CHARLES JOHN MANNING, Esq., Deputy-Governor.
DIRECTORS.

Henry Bainbridge, Esq. Wm. Tetlow Hibbert, Esq.'
Robert Barclay, Esq. Wilmot Holland, Esq.
John Garratt Cattley, Esq. Nevile Lubbock, Esq.
Mark Currie Close, Esq. Geo. F. Malcolmson, Esq.
Edward James Daniell, Esq. Henry Nelson. Esq.
William Davidson, Esq. Lord Josceline W. Percy.
Thomas Dent, Esq. Charles Robinson, EsQ
Alexander Druce, Esq. Samuel Leo Schuster, sq.
Fredk. Jos. Edlmann, Esq. Eric Carrington Smith, Esq.
Charles H. Goschen, Esg, Joseph Somes, Esq., M.P.
RiversdaleW. Grenfell, Esq. Wilhatn Wallace, Esq.
tiobc. Amadeus Heath, Esq. Chas. Baring Young, Esq.
Medical Referee, SAMUEL SOLLY, Esq., F.R.S.
NOTICE.—The usual fifteen days allowed for payment of
FIRE PREMIUMS falling due at Midsummer will expire
on 9th July.
FIRE and LIFE ASSURANCES may be effected with this
Corporation on advantageous terms.
The Duty on Fire Assurances has been reduced to the uni-
form rate of ls. 6d. per cent. per annum, from Midsummer,
1865,
No charge is now made by this Corporation for Fire Policy
or Stamp, however small the Asenrance may be.
FARMING-STOCK.—No e•ctra charge is made for the use
of Steam Thrashing Machines.
The Reversionary Bonus on British LIFE POLICIES has
averaged nearly 2 per cent. per annum on the sum assured.
Equivalent reductions have been made in the Premiums
payable by persons who preferred that form of Bonus.
The divisions of Profit take place every Five years.
Any sum not exceeding £15,000 may be insured on one
Life.
This Corporation affords to the Assured—
Liberal participation in Profits—with the guarantee of
a large invested Capital Stock, and exemption, under
Royal Charter, from the liabilities of partnership.
The advantages of modern practice,—with the security
of an Office whose resources have been tested by the ex-
perience of nearly a CENTURY AND A HALF.
ROYAL EXCHANGE, LONDON.
ROBT. P. STEELE, Secretary.

THE LONDON MERCHANTS COMPANY
(Limited,.
Incorporated under the Companies Act of 1862, with
Limited Liability.
Capital £1,500,000, in 15,000 Shares of £lOO each.
£2 per Share to be paid on Application, and £8 on Allot-
ment.
No further Call will exceed £5 per Share, nor be made at
intervals of less than Three Months.
It is not intended to call up more than £5O upon each Share.
DIRECTORS.

W. R. Robinson, Esq.,
John Fleming, Esq.,
George Fleming, Esq.,
James Alexander, Esq.,
Philip Vanderbyl, Esq.,
R. Stuart Lane, Esq.,
Horace E. Chapman, Esq.,
F. H. Helbert, Esq.,

Messrs Robinson and Fleming,

Messrs Redfern, Alexander,
and Co.

Messrs Lane, Hankey, and Co.

BANKERS.
London and County Bank, Lombard-street.
National Bank, Old Broad-street, and all its Branches.
Messrs. Prescott, Grove, Cave, and Cave, Threadneedle-
street.

SOLICITORS.
Messrs. Newbon, Evans, and Co., Nicholas-lane.
Messrs. Cotterill and Sons, Throgmorton-street.
BROKERS.

Messrs. Seymour and Co., Throgmorton-street.
Messrs. "lichens, "larrison, and Co., Threadneedle-stree
SECRETARY (pro tem.)
• J. D. O'Brien, Esq.
Temporary Offices-21, Austinfriars.