The Sun.
London, England, 1865-06-20 00:00:00

The Catnrt Fon= and MORIL/ER of ENGLAND (Limited),
in conjunction with the IMPERIAL MERCANTILE CREDIT
ASSOCIATION (Limited), are prepared to RECEIVE S ÜB-
seRIPTioNs for £50,000 PREFERENCE SHARES, being the
BALANCE of the CAPITAL of
fIE ATLANTIC TELEGRAPH COMPANY
, Not et issued to the eeneral eublie.
Prefereynce Shares of £5 each, bearing 8 per Cent.
per Annum.
Preference Interest authorised by Special Act of Parliament.
Deposit £1 per Share on Application, and £4 on Allotmen`.
No further Liability of any kind.
Each Subscriber's Liability being specially limited by Act
of Parliament to the Amount of his Subscription.
DIRECTORS.
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.)
Londe; Vice-Chairman.
Freorge Peabody, 22, Old Broad-street, London.
aneis 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
liamnel Gurney, Esq., M.P., 65, Lombard-street, London
z(llessrs. Overend, Gurney, and Co.).
dward' Cropper, E sq., S waylan ds, nearPenshurst (Director
of the British and Irish Magnetic Telegraph Co., and of
the London and North-Western Railway Co.).
Captain A. T. Hamilton 12, Bolton-row, Piccadilly.
f,
P. Bidier, Esq., 24, 'Great George-street, Westminster
Pirector of the Electric and International Telegraph
Uo., and late President of • the Institution of Civil
~Engineers).
*ir Edward Cunard, Bart., Old Broad-street, London, of
the British and North American Royal Mail Steam
Packet
Company, and Deputy-Chairman of the Ocean
Marine insurance Company.
HONORARY DIRECTOR.
W* Ir. Stephenson, Esq., late Official Director on this Board
on behalf of her Majesty's Government, and now Chair-
Alin of the Board of Inland Revenue.
ELECTRICIAN.
Cromwell F. Varley, Esq.
CONSULTING COMMITTEE.
Captain Douglas Galton, RE., F.R.S.
Gilliam Fairbairn, Esq., F.R.S., late President of the
J British Association.
seph Whitworth, Esq., F.R.S.
professor Wheatstone, F.R.S.
professor W. Thomson, F.R.S., of Glasgow.
SECRETARY.
George Saward, Esq.
OFFICES-12, St. llelen's-place, E.C.

The distribution cf these shares will be made as nearly
as Possible as follows :
v)000 Shares will be appropriated to applicants who are
Shareholders in the Credit Foncier and
10 A Mobilier of England (Limited).
)-00 Shares will be .appropliated to applicants who are
Shareholders in the Imperial Mercantile
Credit Association (Limited).
I°,ooo Shares will bo appropriated to applicants who are
Shareholders m the Atlantic Telegraph
Company.
10,000 Shares will 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
uic.
• The above numbers are so far approximativo as to be sub-
)ect to reduction or increase according to the total number
4 6'l
aPplrcations made, it being the intention, however, that
applicant shall receive an allotment.

BANKERS.
4jessrs. Glyn, Mills, Currie, & Co., Lombard-street, London.
The Union Bank of London, Princes-street, E.C.
4n,e Agra and Masterman's Bank (Limited), Nicholas-
lane,l London.
tessrs. Smith, Payne, and Smiths, Lombard-street, London.
The National Bank, London, Dublin, and its Branches in
Ireland.
411 e National Bank of Scotland, Edinburgh, and its
~,-iiranches in Scotland.
Consolidated Bank, London and Manchester.
giessrs. J. Barned and Co., Liverpool.
BROKERS.
Itessrs. Laurence, Son, and Pearce, 9, Angel-court, V.C.,

VessrMessrs.
s. Foster, Braithwaite, and Co., 27, Austinfriars.
Messrs. Taunton and Co., Liverpool.
glessrs Shore and Messrs. M'Ewen and Auld,anc Glahsgower.

Of all the enterises of a commercial character none has
-ver excited so mrpuch attention and interest as that of the
4t,lautic Telegraph Company.
13°,.ge reason of this is perfectly obvious; the immense
letical importance of the Company, as well as the enor-
t,,,ls profit to be anticipated by its Shareholders, together
4.4 the scientific interest attached to it, combining to ea
Ngree not,found in any enterprise having commercial
'4.0 fit for its legitimate end.
enterprise so important, and now become so compa-
ively easy to accomplish, appeals not only to the great
t-ceaMtercial interests of Europa and America, but to the
dace of all classes in both countries; its benefits to
'tee and civilisation it is impossible to estimate.
h
1 .Te near approach of tho period when the cable is to be
51d. is already the cause of much excitement amongst all
o are aware of the fact.
\,,,Yhe date for the Great Eastern steamshi's departure
lth the cable is actually fixed for the Bth. July, about a
,(41/light from the present date, and it is not too much to
Of "13 that from the hour of her leaving the whole continent
II
i)ro-,,urope and America will bo intent upon watching her
te.g,,ress. Ms Royal Highness the Prince of Wales has
"aed his warm interest in the undertaking by personally
elieetha'' the cable on board the Great Eastean about
n'nee weeks ago.
ql-ehe exceptional character of the undertaking is further
f?wil by her Majesty's Government granting the services
c:,,,:;w0 of her Majesty's men-of-war steamers, the Terrible
Sphy, to accompanythe Great Eastern, and assist
operali nxon of laying the cable.
-'ll calculating the rate of profit of this undertaking, of
wjerse everything depends upon the scale of charges adopted
ithe transmission of messages; the first tariff agreed to
with her Majesty's Government was fixed at 2s. 6d. per
Ord, subsequently increased to ss. per word, but as the
it'ele arrived when the cable would be ready for actual use,
as seen that the mass of business this company would
fj}nlediately find offered to it, would so far neutralise the bene-
t' of it by completely choking the line, that a represents,-
to the Lords of the Treasury within the last few days
oil the subject, has led their lordships to consent to the
I>any, until Ist September next, experimentally
k,enarging, without restriction,, such rates for messages
kiptile Company may, on full consideration, deem reason-
,,,3 and proper ;" and it is fully expected that by this
D'e aligement the net profits will reach ono million sterling
!atinum.
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).
'£GOO,OOO Ordinary Shares.
.13 amount I•equired to pay 5 per cent.
Tinnerest on £lOO,OOO Debentures is £5,000 per annum.
r amount required to pay the Pre-
Irence Dividend of 8 per cent. on
600,000 (of which the present issuo
fo
rais the balance) 48,000 „
"e amount required to pay4per cent,
°ll £600,000 ordinary capital is

t „„! Making a total of £77,000 ,
tithe— ing £923,000 per annum surplus inco. lialf the
1.-"`,, lint of revenue above the said £77,000 ismvailable for
eti4,,rlY, bonus to the holders of the said 8 per cent. Prefer-
ares. Therefore, on the above-mentioned calcula-
lo-11 the total available dividend and bonus would amount
t,h`toove 76 per cent. per annum, in addition to the 8 1)(5
"ht,' Preference as above, making an estimated total divi-
leea-: of 84 per cent. per annum on these Preference Shares,
4,"ng, after deduction of 20 per cent. for the formation of
C.llewal fund for laying down a new cable, 64 per cent.
tie'idend, of which 8 per cent. would be preferential divi-
Ld secured by Act of Parliament.
*:',/ hat the price of these Shares will be a month hence,
fi "4 such prospects, it is difficult to say, especially as the
iltree above given do not, in the opinion of persons com-
tei nt to judge, at all represent the maximum probable re-
c 0,14,8; but taking them as the basis for calculation, and
sa;sidering the continued demand there must be for mes-
tiv.°6B, consequent upon the ever-increasing business be-
-I],,a6e.n the Continent of Europe, England, and America, and
kl hilt' in mind that this cable will complete the line of
tateikrapli between San Francisco and India, it is not impro-
twv'e that,
land
the time that telegraph communication be-
tugland and America is an accomplished fact, these
fres may be worth £2O, or £l5 premium per Share.
ie,,,r°M. the phalanx of talent existing in the scientific ad-
fat'r,s, of the Atlantic Telegraph Company, and from the
ti that the laying of the cable has been entrusted exclu,
clin''Y to the eminent Contracting Company who have had
lie;,,rZe of the manufacture of it, and whose staff of Engi-
egig`fa,!ind Electricians have successfully laid most of the
/4,1,7 tug cables, whether laid in deep or shallow seas, it
tvrwell be believed that every precaution has been taken
th,'6sure the successful laying of this cable : this achieved,
eire,,,c6llY bar to the Shares attaining the high value which
is one acquainted with the undertaking places them at
11,bretuoved ; this risk, however, may easily be assessed
tloeblia it fs mentioned that leading insurance companies and
of 1 have underwritten policies embracing every risk
tliE,,g, insulation, &c., at 25 guineas per cent., showing
fi Confidence in the result anticipated.
in 0,4101 y, the Directors of the several Companies interested
day
r? enterprise fully anticipate being able to report each
finting the laying the favourable progress all believe
iltoZ`t of the success of an undertaking which all look
It as a national work.
that:Ml be seen from the proposed allotment of the Shares
as
`he distribution of them is intended to be made upon
Illibl,•"° a basis as possible, so as to give the whole of the
tet,l`eants the assurance of receiving an allotment and of
fltabV Permitted to join an unexampled commercially pro-
Pro as well as politically important undertaking.
ti6sPectuses and Forms of Application can be obtained
NI 6 Credit Foncier and Mobilier of England (Limited)
k, I'6'l Lowe Esq., Secretary), at their Offices, 17 and 18,
. London ; of the Imperial Mercantile Credit
!ary°)eiation (Limited) (W. C. Winterbottom, Esq., Secre-
kilt.' at their Offices, 27, Lombard-street; also of the At-
kr,ll)6 Telegraph Company (George &ward, Esq., Secre-
of t 4!, at their Offices, 12, St. Helen's-p!ace, E.C., London ;
Nl,,T,Telegraph Construction and Maintenance Company
olin (W. Shuter, Esq., Secretary), at their Offices,
ho' `" broad-street •or of,
the Brokers or Bankers ; but
libliepolication will be entertained the sum of £1 per
application has been mid to one of the Company's
tha :Nei-rs on the number applied for. Every applicant will
;6 an allotment, but should a less number be allotted
the asked for, the amount paid will be applied towards
tom Per Share due on those allotted.
'6l'll 19th June, 1865.

TEL PER CENT. PREFERENCE SHARES OF
ATLANTIC TELEGRAPHIC COMPANY.
Issue of 50,000 Shares, £5 each.
tli No.—
-(1 Directors of the Credit Foncier and Mobilier of
England (Limited).
I,NIII- bealen —Having paid to the (insert bankers' name)
igh'tt-e B'lll'l of , being £1 per Share on
Ll4ltie ~,ar Cent. Preference Shares of £5 each in the At-
t:111 alloTegraPh Company .t:.ove-mentioned, I request you
ePtla of In° Shares in the said Compnny upon the
rah Pt- the Prop t s issued by you, and I agree to ac-
tT!itie7,„Shoares Oreauny less
sumnumbr that may be allotted
oti atiroirillea the further of per Share thereon
I am, Gentlemen, your obedient Servant,
Usual signature
Name and surname in full
Profession, trade, or occupation
Residence
Date June, 1865