The Sun.
London, England, 1865-09-14 00:00:00

THIRD EDITION.

SUN OFFICE, 7 o'CLocK.

SPORTING INTELLIGENCE—This Day.

DONCASTER RACES--THIS DAY.
BY ELECTRIC TELEGRAPH.
SCARBOROUGH STAKES.

Cellerima..

Ny.o.
SWEEPSTAKES OF 10 SOVS.

Rustic
Sealskin
Nutrition

Thirteen ran.
ZETLAND STAKES.

La Fortune w.o.

PORTLAND PLATE.

1

Kilkenny
Lady Egidia
Thalassius 1

Twelve ran.
EGLINTON STAKES.

1
Chibisa.
Split the Difference
3
Raunds ....................................r 2

Seven ran.
SELLING STAKES.

Sweet Anne
2
Naide
Blue Belle filly
Six ran.
CLEVELAND HANDICAP.

Sundeelah 1
Elland
Windham
3
Ten ran.

ATLANTIC TELEGRAPH COMPANY.

MEETING THIS DAY.

An extraordinary meeting of the directors and share-
holders of the Atlantic Telegraph Company was held this
day, at the London Tavern, for the purpose of reporting
to the shareholders the present position of the undertak-
ing, and the measures recommended by the board for the
resuscitation of the Company's existing cable in connec-
tion with the manufacture and submersion of a second
cable.

The business commenced by the Secretary reading a
report from the directors detailing the present state of the
company, and the steps taken to ;attain the object of the
directors, viz., electric communication between England
and America. The failure of the attempt last month had
compelled them to enter into a fresh contract beneficial
to all parties. Under this contract the Telegraph Con-
struction Maintenance Company undertake for the sum of
£5OO, 000, which has been agreed on as the cost price, at
onee to commence the manufacture of, and during 1866 to
lay down, a now cable between Ireland and Newfoundland.
The contractors, if the said cable be successful, but not
otherwise, are to have in shares and cash a profit at the
rate of 20 per cent. upon such cost. The contractors also
undertake, 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 en-
tirely believe—to recover and repair and complete in
working order between Ireland and Newfoundland the pre-
sent broken cable.

The CHAIRMAN, in his opening remarks, referred to the
present position of the company, and said that the inten-
tion, in the first instance, was to raise certain capital
upon certain terms; but instead of that they intended
merely to ask the shareholders to receive the report
of the directors, and to leave the question of the
terms upon which the new capital should be raised
for further consideration of a meeting to be held next
month. All that was now sought to be done was to let the
public see that the directors were not idle, that they were
not beaten down, that they were not discouraged, and
that they were as earnest as ever in their desire to
see their great object accomplished. (Hear, hear.)
The company had surmounted many difficulties,
but now, he was happy to say, the greatest unanimity pre-
vailed, and that every person connected with the company
desired to complete the work which had the universal sup-
port of the English people. The failure of the last attempt
was now a matter of history, and he would let byegones
be byegones, and iu preference to dwelling upon that he
would say that the new contract entered into by the
company would prove as highly beneficial to them as it was
honourable and spirited to the company that had under-
taken its construction. The hon. chairman then went on
to state that the various objections against the lay-
ing of a telegraph had all been proved groundless.
They had showed that it was possible to lay a
cable the entire length. That was proved in 1838, yet
notwithstanding that he believed there were some who
still believed that no message over was transmitted from
end to end of the cable. He could only say he should be
happy to show such persons that at least 60 messages were
received before the communication ceased. The mode
of issue of the new capital no doubt had shocked some of
their old shareholders. They, no doubt, said—Are we to
be altogether sacrificed to a new class of proprietors ? He
could only say the course proposed was inevitable. He
did not think it could be said that the proposal
would be throwing good money after bad; on
ethat he the contrary, he thought it would be investing
a further sum of money which would revive and
tanyo cow
givedirectors
value to thatre advisedwhich was
u al
dt issue s udei 81er p etr.
cent. shares over the 8 per cent. shares. If they did
nothing their shares would further deteriorate ; if they
abandoned their prospect the property would become
almost valueless. With respect to the matter
of charge for messages on the completion of
the work, he had to say that the charge would not be .C 1
a word. The paper containing that statement had to be
put forward to prevent a great rush of business in the
event of success, but it was not issued with the view of
being the permanent charge of the company. If they
completed their work they would have two powerful arms
to embrace their American brethren with, and become
possessed of one of the grandest properties that ever
existed. (Cheers.)
Mr. LE BRETON seconded the adoption of the report.
Mr. TAYLOR thought it would be advisable, before fur-
ther money was laid out, to ascertain that they were in the
right groove. He thought a lighter cable might be more
easily laid than one of the weight which had proved un-
successful. One made of gutta percha and copper wire
alone might be easily manufactured and conveniently
stowed on board ship, and thus the great difficulty
of weight would be altogether got rid of. He
thought it was also advisable to think over another
route—the northern one, for instance, by the
Faroe Islands. There the greatest length of cable would
be required-400 miles—which was a circumstance greatly
in its favour. He had the greatest confidence in the hon.
chairman, and he hoped he might in a short time reap the
reward of his great exertion • •
to bring this company to a suc-
cessful issue.

The CHArßivasT said he had no faith in the route men-
tioued by the hon. proprietor. Ho thought the country
altogether impracticable for such a purpose.
Alter a short discussion the report was adopted.
The CHAIRMAN said he would not detain them any fur-
ther on that occasion, but he hoped to have the pleasure
of seeing them at the next meeting to bo held next
month.
The proceedings then terminated.

Bank of England Return.•—Thil Evening.

An Account, pursuant to ti
cap. 82, for the week ending
ISSUE DSO

otes issued

he Act 7th and Bth Victoria,
Wednesday, Sept. 13, 1865.
P AIRTMEN T.

£27 950,400!

Government Debt £11,015,1C0
Other Securities .. 3.634"0
Gold Coin & Bullion 13,300,103
Silver Bullion

BANIELLNQ D.

toprietors' Capi-
tal .E 14.553,000
(test
Public Deposits (in-
cluding Exche-
quer, Savings'
Banks, Commis-
mi of Na-
tional Debt, and
Dividend

A 27,950,400

counts) 6,321,640
Other Deposits.— 13,86J079
Seven Day and
other Bala 654,695

tPARTDMIT. -
Government Secu-
rities ((including
Dead W eigh tAn-
unity) £10,384.200
Other Securities 21,213,5t. 9
Notes
Gold and Silver 665,179
Coin

Sept. 14, 1865.

£39,038,237 J £39,038, 31
O. FORBES, Deputy Cashier.

SHIPPING INTELLIGENCE—This day.

LONDON, Sept. 14.—Wind this day at noon—South-
Westerly; moderate breeze and fine weather, but rather
cloudy.

CLYDE, Sept. 13.—Wind SM.—Arrived—Canadian
Lass, from Huelva.

SOUTHAMPTON, Sept. 13.—Wind S.W.—Sailed—Nov
York, steamer, for Bremen.
LIVERPOOL, Sept. 12.—Wind S.W.—Sailed—Ann, for
Rio Janeiro ; Fatima, for Jamaica.
PLYMOUTH, Sept. 13.—Wind W.—Arrived—St. Vincent,
from London for Adelaide.

LBY ELECTRIC TELEGRAPH.]

GRAVESEND, Thutsday Morning.

Arrived, Sept. 14—Countess of Lonsdale, steamer, front
Hamburg ; Earl of Auckland, steamer, from Rotterdam ;
Baron Osy, steamer, from Antwerp ; Britannia, steamer,
from Cadiz.

DEAL, Thursday Morning.
Passed—Clothilda, screw steamer, from London, for
Donis; Catharina Agatha, from London, for the West.