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

SECRETARY.
George Saward, Esq. .
OrmeEs-12, St. Helen's-place, E.C.

The distribution cf these shares will be made as nearly
14 Possible as follows :
400 Shares will be appropriated to applicants who are
Shareholders in the Credit Fonder and
Mobilier of England (Limited).
1000 Shares will be appropriated to applicants who are
Shareholders in the Imperial Mercantile
Credit Association (Limited).
11)1000 Shares will be appropriated to applicants who are
Shareholders in the Atlantic Telegraph
1 Company.
i)000 Shares will be appropriated to applicants who are
Shareholders in the Telegraph Construction
10 and Maintenance Company (Limited) ; and
)vA 00 Shares will be appropriated amongst the general

public. -
The above numbers are so far approximative as to be sub-
J 1 eet to reduction or increase according to the total number
„` aPplications made, it being the intention, however, that
'ell applicant shall receive an allotment.

BANKERS.
4,BBsrs. Glyn, Mills, Currie, & Co., Lombard-street, London.
The
Union Bank of London Princes-street, E.C.
';(3 Agra and Masterman's Bank (Limited), Nicholas-
Itess r e'ans. Smith,
Lodon.
Payne, and Smiths, Lombard-street, London.
The National Bank, London, Dublin, and its Branches in
Ireland.
'lle National Bank of Scotland, Edinburgh, and its
Tim'anches in Scotland.
I,.ee Consolidated Bank, London and Manchester.
g(essrs. J. Barned and Co., Liverpool.
BROKERS.
1488/.8. Laurence, Son, and Pearce, 9, Angel-court, E.C.,
utondon.
ileSSrs. Foster, Braithwaite, and Co. 27, Austinfriars.
Srs. Taunton and Co., Liverpool'.
Ilegsrs. Shore and Kirk, Manchester.
M,Ewen and Auld, Glasgow.

9f all the enterprises of a commercial character none has
'per excited so much attention and interest as that of the
Atlantic Telegraph Company.
The reason of this is perfectly obvious ; the immense
lblitical importanco of the Company, as well as the enor-
lc?us profit to be anticipated by its Shareholders, together
Oh the scientific interest attached to it, combining
b'gree not found in any enterprise having commercial
etofit for its legitimate end.
tail.in enterprise so important, and now become so rompft-
"rely easy to accomplish, appeals not only to the great
151amercial interests of Europe and America, but to the
?(3111pathies of all classes in both countries ; its benefits to
ace and civilisation it is impossible to estimate.
141. The near approach of the period when the cable is to be
1,,,`" is already the cause of much excitement amongst all
are aware of the fact.
Tho date for the Great Eastern steamship's departure
with tho cable is actually fixed for the Bth July, about a
Itliiiight from tho present date, and it is not too much to
4:7that from the hour of her leaving the whole continent
Europe and America will be intent upon watching her
'l'l3gress. His Royal Highness the Prince of Wales has
tr-itified his warm interest in the undertaking by personally
trPecting the cable on board the Great Eastein about
ree weeks ago.
The exceptional character of the undertaking is further
11°Nrn by her Majesty's Government granting the services
°f two of her Majesty's men-of-war steamers, the Terrible
it4(l the Sphynx, to accompanythe Great Eastern, and assist
,the operation of laying the cable.
._lll Calculating the rate of profit of this undertaking, of
rrse everything depends upon tho scaloof charges adopted
withthe transmission of messages; the first tariff agreed to
with her Majesty's Government was fixe4 at 2s. 6d. per
erd, subsequently increased to ss. per illird, but as the
44" arrived when the cable would be ready for actual use,
jWas seen that the mass of business this company would
TlTtediately find offered to it, would so far neutralise the bene-
fitfof it by completely choking the line, that a representa-
°ll to the Lords of the Treasury within the last few days
o 0 the subject, has led their lordships to consent to the
tiiliPany, until lst September next, experimentally
charging, without restriction, such rates for messages
as Company may, on full consideration, deem reason-
i and proper ;" and it is fully expected that by this
h„".angem.ent the net profits will reach one million sterling
4-,r 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 £600,000 Ordinary Shares.
" amount vequired to pay 5 per cent.
Nerest on £lOO,OOO Debentures is £.5,000 per annum.
" amount required to pay the Pre-
ference Dividend of 8 per cent. on
4600,000 (of which the present issue
forms the balance) 48,000 ~
• " amount required to pay4per cent,
£600,000 ordinary capital is

Making a total of £77,000 ~
tea
p
ttVing £923,000 annum surplus income. Half the
mount
of revenue abover the said £77,000 is available for
h of the said 8 per cent. Prefer-
Zlec Zrnees.e t Thereforeholders, on the above-mentioned calcula-
On, the total available dividend and bonus would amount
above 76 r cenatb.
opveer,annum, in addition to the 8 per
making an estimated total divi-
ge't_ preference as
fe of 84 per cent. per annum on these Preference Shares,
-,,vin after deduction of 20 per cent. for the formation of
.tii'e.negw'al fund for laying down a new cable, 64 per
atvldend, of which 8 per cent. would be preferential divi.-
,ero
„,..0 secured by Act of Parliament.
hat the price of tese Shares will be a moiith nce,
Itith
such prospects, it is difficult to say, especially a hes
the
o.Vres above given do not, in the opinion of persons cora- I
4rut to judge, at all represent the maximum probable re-
ccP ; but taking them as tehe basis for calculation, and
ea2lsdering the continued demand there must be for mes-
Nr , consequent upon the ever-increasing business be-
be een the Continent of Europe, England, and America, and
teiaeling in mind that this cable will complete. the line of
b4FraPll between San Francisco and India, it is not impro-
tw ta that b the time that telegraph communication be-
r3h6ell England and America is an accomplished fact, these
p es may be worth .£2O, or £l5. premium per Share.
virein the phalanx of talent existing in the scientific ad-
`'.l.B of the Atlantic Telegraph Company, and from the
O.;:et tltat the laying of the cable has been entrusted exclu-
elielY to the eminent Contracting Company who have had.
Ire` tge of the manufacture of it, and whose staff of Engt-
okZB. and Electricians have successfully laid most of the
re. lug cables, whether laid in deep or. shallow seas, it
to4Y; well be believed that every precaution.has.beenh.taken
the sure the successful laying of this cable : thislac achieved,
eve °lll3r bar to the Shares attaining the.highlva uethweinhi
at
r`i' one acquainted with the undertaking
.p c
No‘tenoved ; this risk, however,. may easilyabeee assessed
tcell it is mentioned that leading insurance.companies
risk
°feed's have underwritten Policies embracing eve-
111?ig, insulation, &a., at 25 guineas per cent., showing
fr confidence in the result anticipated.
111 italallY, the Directors of the several Companies interested
tiab•ila enterprise fully anticipate being able to
report each
quring the laying the favourable p ess all believe
ni044114 of the success of an undertaking
grwhich all look
us a national work.
that be seen from the proposed allotment of the Shares
as distribution of them is intended to be made upon
op ?.ee a basis as possible, so as to give the whole of the_
bspucants the assurance of receiving an allotment and of
fitalii Permitted to join an unexampled commercially pro-
sle as well as politically importa.nt undertaking.
.of Pectuses and Forms of Application can be obtained
6 Credit Foncier and Mobilier of England Limited)
ured Lowe, Esq , Secretary), at their Offices, 1 and 18,.
London • oithe Imperial Mercantile Credit
°elation cLimited) C. Winterbottom, Esq., Secre-
11% at their Qfficea, 27, LomDarti-otroot ; i 449 the