The Sun.
London, England, 1865-06-23 00:00:00

itr.,,rinnunt, YOU WILL SEE YOLT
FRIENDS at " E VANS'. " After the Opera we
I'l/411 Sup there I

I(INAHAN'S
BRANDY. KY v. COGNAC
Juts °tie m'ated Old. IEI6II WHISKY rivals the finest
R RNCIT BRANDY, •
It is Pure, Mild, Mellow, Delioious, and very Wholesome.
, gold in Bottles, 3s. Bd., at the Retail Houses in London; by
il'3 Agents in the principal towns in England ; or wholesale
at

8, GREAT WINDMILL-STREET, LONDON, W.
Observe the Red Seal, Pink Label, and Cork branded
"Kinahan's LL Whisky."

VE YOUR POOR TEETH, and 1?,,-rmomi33
your cie-are. —BUTCHER'S PATENT KEY-ItING
'IGAIt NIPPERS are sold everywhere. Price ld.

NIUTUAL LOAN FUND ASSOCIATION
(Incorporated by Act of Pariiam nt, IS 0),
_ 11, RUSE: L-STREET, COVE T-GARDEN,

LENDS MONEY on Personal and other Security, in sums
Ot £2O to £5OO, to be repaid by instalments extending► over
one, two. or three years. The la. ge C ipital of this Associa-
tion enables it to complete its transactions without delay.
oc ,nquiry or office fees. and strict secrecy observe I. Hills
Discounted at short notice. Form sent free on receipt of a
d:reeted stamped envelope.
The Association also lands Money for the purchase of a
'house by a ter ant, or for the liquidation or mortgages, on
'‘erMs most advantageous to the bot rower.

EDWARD HARPER, Secretary.

the CREDIT FONCIER and MOBILIER of ENGLAND (Limited)
in conjunction with the IMPERIAL MERCANTILE CREDIT
ASSOCIATION (Limited), are prepared to RECErvE SUB-
SCRIPTIONS for £50,000 PREFERENCE SHARES, being the
BALANCE of the CAPITAL Of
THE ATLANTIC TELEGRAPH COMPANY
Not yet issued to the general eublie, viz.: -
54,000 Preference Shares of £5 each, bearing 8 per Cent.
per Annum.
'reference Interest authorised by 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 Foncier and 31obilier of England
(Limited), Chairman.
Curtis M. Lampson, Esq. (Messrs. C. M. Lampson and Co.)
London, Vice-Chairman.
George Peabody, 22, Old Broad-street, London.
Francis Le Breton, Esq., 21, Sussex-place, Regent's-park.
John Pender, 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
Uo., and late President of the Institution of Civil
Engineers).
air Edward Cunard, Bart., Old Broad-street, London.
HONORARY DIRECTOR.
W. H. Stephensbn, Esq., 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 COMMITTEE.
Captain Douglas Galion, R.E., F.R.S.
William Fairbairn, Esq., F.R.S., late President of the
British Association.
Joseph 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. Helen's-place, B.C.
•

The distribution cf these shares will be made as nearly
11,3 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
• 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

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

BANKERS.
Messrs. Glyn, Mills, Currie, & Co., Lombard-street, London.
4The Union Bank of London, Princes-street, E.G.
The Agra and Masterman's Bank (Limited), Nicholas-
lane, London.
ttessrs. 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.
kessrs. J. Barned and Co.; Liverpool.

BROKERS.
Messrs. Laurence, Son, and Pearce, 9, Angel-court, E.C.,
~London.
essrs. Foster, Braithwaite, and Co., 27, Austinfriars.
essrs. Taunton and Co., Liverpool.
Messrs. Shore and Kirk, Manchester.
kessrs. 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-
mous 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
e°ramercial interests of Europe and America, but to the
eYrapathies 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
,
is already the cause of much excitement amongst all
Who are aware of the fact.
The date for the Great Eastern steamship's departure
'fith the cable is actually fixed for the Bth July, about a
fortnight from the present date. and it is not too much to
eaY that from the hour of her leaving the whole continent
?' 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
148Pecting the cable on board the Great Eastern about
three weeks ago.
The exceptional character of the undertaking is further
shown by her Majesty's Government granting the services
• ef 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
!curse everything depends upon the scale of charges adopted
for the transmission of messages; the first tariff agreed to
I:,,hh her Majesty's Government was fixed at 2s. 6d. per
iyerd, subsequently increased to ss. per word, but as the
;Pie arrived when the cable would be ready for actual use,
was seen that the mass of business this company would
immediately 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
Zll the subject, has led their lordships to consent to the
Company, until Ist September next, experimentally
charging, without restriction, such rates for messages
a.,14 the Company may, on full consideration, deem reason-
able and proper ;" and ft 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 presenrissue forms the balance).
£600,000 Ordinary Shares.
The amount vequired to pay 5 per cent.
The amount
on £lOO,OOO Debentures is £5,000 per annum.
amount required to pay the Pre-
. Jerence Dividend of 8 per cent. on
4600,000 (of which the present issue
~forms the balance) 48,000 ~
"ne amount required to pay 4per cent
911 £600,000 ordinary capital is

Making a total of £77,000 ,
Leaving £923,000 per annum surplus income. Hialf e
alnount of revenue above the said £77,000 is available th
for
Yearly bonus to the holders of the said 8 per cent. Prefer-
, Vito Shares. Therefore, on the above-mentioned calcula-
f,Tl, the total available dividend and bonus would amount
above 76 per cent. per annum, in addition to the 8 per
cent. preference as above, making an estimated total divi-
dend of 84 per cent. per annum on these Preference Shares,
,eaving, after deduction of 20 per cent. for the formation of
elrenewal fund for laying down a new cable, 64 per cent.
trr idend, of which 8 per cent. would be preferential divi-
"nd secured by Act of Parliament.
What the price of these Shares will be a month hence,
ritil such prospects, it is difficult to say, especially as the
KR:llres above given do not, in the opinion of persons cora-
vvent to judge, at all represent the maximum probable re-
CeiPts i
; but taking them as the basis for calculation, and
"usidering the continued demand there must be for mes-
Qges, consequent upon the ever-increasing business be-
En the Continent of Europe, England, and America, and
bearing in mind that this cable will complete the line of
impro-
bable between San Francisco and India, it is not impro-
t„"'e that, by the time that telegraph communication be-
k3Leen England and America is an accomplished fact, these
'''„,res may be worth £2O, or £l5 premium per Share.
vier roni the phalanx of talent existing in the scientific ad-
ers of the Atlantic Telegraph Company, and from the
wet that the laying of the cable has been entrusted exclu-
ZSly to te einent Contractin Company who have ha.d
hearge oft hem manufacture of itg pa
, and whose staff of Engi-
eltn and Electricians have successfully laid most of the
lat,'lng cables, whether laid in deep or shallow seas, it
tz,Y Well be believed that every precaution has been taken
th insure fhe successful laying of this cable : this achieved,
eveA, Only bar to the Shares attaining the high value which
18 'l9 one acquainted with the undertaking places them at
Lb
removed ; this risk, however, may easily be assessed
cten it is mentioned that leading insurance companies and
of eiYd.'s have underwritten policies. embracing every risk
tla„,n/ng, insulation, &c., at 25 guineas per cent., showing
i fr confidence in the result
pa anticipated.
lly, the Dire ctors of the several Companies interested
the.,,, enterprise fully anticipate being able to report each
4
during the laying the favourable progress all believe
n,
and of the success of an undertaking which all look
111)04
It a national work.
that 4"'d be seen from the proposed allotment of the Shares
as .110 distribution of them is intended to be made upon
op;;" a basis as possible, so as to give the whole of the
• bebileants the assurance of receiving an allotment and of
4tail permitted to join an unexampled commercially pro-
pr_u_ as well as politically important undertaking.
of th7Reetuses and Forms of Application can be obtained
~Alfruredit Foncier and Mobilier of England (Limited)
,d T,
rtatilCulvel Esq., Secretary); at their Offices, 17 and 18.
4°680 RC., London ;of the Imperial Mercantile Credit
ciaattitcialle&LQimilacteods? CW. C. Winterbottom, Esq., Secre-
-27, L9mbardittott atm i 4 tho At-