The Sun.
London, England, 1867-03-09 00:00:00

Atlantic Telegraph Company.

The following are the principal parts of the report
of the directors of this company to be submitted to
the tenth ordinary annual meeting of the share-
holders, to be held at the London Tavern on Tues-
day next :

" The directors have to report that the two sub-
marine cables so successfully laid to America during
last summer remain in perfect order, having con-
tinued to work in the most efficient manner, at good
speed, and without the least interruption since they
w ere completed. _

" The land lines, chiefly on the American side,
have been frequently interrupted; they are now,
however, in much better condition, and as the
spring and summer advance they will be less liable
to injury from weather, and more easily repaired if
injured.
" The New York, Newfoundland, and London
Telegraph Company, who own the lines from the
terminus of the Atlantic cable to Port Hood, are
actively engaged in erecting a second wire between
those points, and with a further view to secure in-
dependent through communication they have con-
tracted for a submarine crble to be laid from Pla-
centia, Newfoundland, to Sidney, Cape Breton, on
the other side of the Gulf of St. Lawrence, thus
providing an alternative route, giving in all three
wires for business in case of interruption.

" On the Ist of November last, the directors, in
concurrence with the Anglo-American Telegraph
Company, reduced the price of admission from £2O
to £lO for each message of, 20 words, and the
revenue receipts under the reduced tariff compire
favourably with those :enjoyed under the higher
charge.
"The question of a still further reduction of
charges is still under discussion.

" The actual gross receipts from the working of
the cables from the opening of the communication
with America on the 28th of July last to the present
date have averaged £Bl3 per day including Sundays.
"At this rate of revenue, after deducting the
charges of other companies, working expenses, in-
terest on bonds, and dividend to the Anglo-American
Telegraph Company, there should remain at the end
of the financial year a surplus in favour of the
Atlantic Telegraph Company of about £35,000 ;
but as the revenue account cannot be made up until
the Anglo-American Telegraph Company have first
secured their profit for the year, amounting to
£125,000, the board have not been able to present
any detailed statement of earnings to the present
meeting.

" The directors while treating of this subject have
again to remind the shareholders that unless some
previous arrangement can be made, the liabilities at
present outstending on capital account will for the
time being absorb the whole of any balance that may
remain to the credit of revenue.

" The shareholders have already been informed by
circular of the unsuccessful attempts of the board to
obtain a renewal for a term of the mortgages held
by the contractors and now falling due, up to a total
of £lOO,OOO.
" These mortgage debentures bear on the face of
them an annual interest of 5 per cent., but the
directors, in order to make them more acceptable to
the purchasers, have undertaken to forego a sum
appropriated under the agreement with the Anglo-
American Telegraph Company, to the payment of
themselves and the office expenses, in order to raise
the per centago of interest to 7i per cent. per an-
num, at which latter rate, added to the fact of the
debentures being in themselves an excellent security,
the pirectors have offered them with confidence as
au eligible investment.

"In addition to these mortgages, the Telegraph
Construction and Maintenance Company have also
entered an attachment in the Lord Mayor's Court
of London for £19,594 10s. 4d., which has been
served upon the Anglo-American Company, re-
straining the latter from giving up possession of
any property of the Atlantic Telegraph Company
passing into their hands.

" The principal difficulty of the company, how-
ever, at the present moment consists in placing the
balance of overdue debentures not yet disposed of,
and this is a matter very much in the hands of the
shareholders, upon whom the directors again desire
to press the fact that their interests will be much
promoted by assisting them to dispose of the re-
mainder of these securities.

The interest on these bonds is a first charge upon
all the revenue from the two excellent cables now in
perfect working order, and the bondholders have a
lien for the principal upon the 1865 cable, as well as
against all revenue aecruing to the Atlantic Tele-
graph Company.

They will be conveyed by deed of assignment, free
of all expense forstamp and fees, to the new holders,
and will be accompanied by interest coupons at the
rate of 7i per cent. per annum, payable half-yearly
on presentation at the offices of the company.
In accordance with the authority granted by the
shareholders at the extraordinary meeting of Sep-
tember last, the directors have applied to Parlia-
ment for further capital and powers, for the purpose
of enabling the company to release the revenue from
the charges at present payable to the Anglo-
American Telegraph Company.

LIVERPOOL COTTON MARKET.
(This Day.)

The Market opens quiet. Sales probably 6,000
or 7,000 bales.

THE CLYDE PORTS.—The amount of Customs
revenue collected at Glasgow in February was £80,380, as
compared with £62,447 in February, 1866, and £60,431 in
February, 1865. The Customs' receipts at Greenock iu
February were £129,544, against £106,10.1 in February,
1866, and £87,284 in February, 180",

IVAYb.

FOREIGN RAIL
ottoman (Smyrna to Aidtn), 31
Sambre and Meuse, 54 per cent. pf., 9
San Paulo, lim., gua. 6 per cent., 11
Sauth Austrian acid Lombardo Venetian, It 4
BAN/ib.

Alliance, lim.. I
Anglo-Italian, lim., •
Caartered •4er. of Inuia, London, and China, 32
onsolidated Bank, lim., 42
Imperial Ottoman, lim.
Land Mortgage Bank of India, Ilm., 2j •
London and County, 551 5
London Joint Stock, 44
London and %1 eatminater, 94 3j
Merchant Bank, lim , 151
National Provincial of England.

Ditto, d and Id issue, 39$
Oriental Bank Corporation, 43
Provincial Banking Corporation, lim.,
Unio.► of Australia, 47

DOCKF.
London and St. Katharine, 61
MISCELLANNOUS.
Anglo-American Telegraph, 15
Atlantic Telegraph, 21/
Dit o, 8 per cent., 471 31
80,, bay Gas. lim., 41
City Offices, lim., 81
credit r'oncier of Wngland. Jim . 2 3
Credit Fonder of Mauritius, lira. 61 7
Ngyptian Corn. and Trading, lire.. 3
Fore-street Warehouse, lim.. 121
Imperial Land Company or Marseilles, Jim., 101:d
London Financial Association, lira 71
London General Omnibus Company, lim. 3 1
M idras Irrigation and Canal (guaranterd 5 per cent. byln
than Government), 191 20
Nt Mona! Discount lompany, 121
Rhymney Iron, 251
Scottish Australian Investment. lim., 121
Tee rapti Cons' rue. and Mainten., lim, --
Ditto, ditto, 1:1 4
1 rust and Loau Company c f Upper Canada, 41

M. Achille Fould, late Minister of Finance, and
Adolphe Fould, Deputy, have arrived at Marseilles.
The Salut Public of Lyons says :—" The winter
quarter, through which we are at present passing,
appears to be doing its best to prove worthy of its
name., After the eclipse yesterday the snow twice
menaced recommencing. To-day also some few flakes
may be seen flying about in the air, but without
appearing likely to increase. The same weather
also prevails in the Saone-et-Loire and in the Cote-
d'Or. With the exception to the damage done to
the early blossom on the trees agriculturists have
no reason to complain.

The Meuse publishes the subjoined :—" General
Chasal arrived at Brussels on Saturday, and was the
next day received by the King. The ex-Minister
of War had spent some time in Paris, and was much
pleased with the reception given him by the Em-
peror and high diguitnie§ of the Empire."

SPORTING INTELLIGENCE.

LIVERPOOL SPRING MEETING.—FRIDAY.
The attendance to-day fell short of yesterday, many of
the professionals and others having taken their departure,
for the weather was very uninviting, and there was not a
particularly promising prospect of sport. The Handicap
Plate of 40 soya resulting in a dead heat helped to relieve
the dulness of the day. The remaining events do not
demand any further notice than the appended details fur-
nish. Tiger, who ran second yesterday in the Grand
Military Gold Cup, and against whom an objection was
lodged for having gone on the wrong side of the post,
was this day disqualified by the stewards.-

A Handicap Plato of 80 nova., for 3 yr-olds and upwards

• winners extra. One mile. 13 subs. -
Lord Westmoreland's Th 3 Hoek, 3 yrs, sst 71b.(Kenyon) 1
Mr. Alexander's Merry Harp, 5 yrs, 7st 21b (Butler) 2
Mr. Saxon's Peggy, 3 yrs, öit, 71b (Barnard) 3

Four others also ran.
Betting-5 to 2on The Rock, 6to 1 agst Wave, and 100
to 8 bar two.

Challenge Cup, the gift of Sir Humphrey Do Trafforl,
Bart., with 100 sovs added, for horses the property of
offieer3; 12st 7lb each ; certain penalties. Three
miles.

Captain P. Yates's Bandy Coote, aged, 12st 71b
(Capt. Ricardo) 1
Lord Poulett's Genievre, aged, 13st 71b (Mr. Lawrence) 2
Betting —9 to 2 on Genievre.
Handicap Plate of 40 sous for 3-34-olds and upwards;
winners extra ; Canal point in. About six furlongs.
Lord Poulett's Wellesley, by Arthur Wellesley—Mitid
of Dement, 4 yrs, 6st 41b (Goodwin) f 1
Mr. Burke's Despair, aged, Bst 101 b ..... Doyle) t 2
Mr. Topham's King Charles, 3 yrs, sst 71b ...(Butler) 3

Two others also ran.

Betting-2 to lon Lady Pam, 3to 1 agst Wellesley, and
10 to 1 bar two. After one ineffectualattempt King Charles
got away in front, and made play, attended by Wellesley,
Lady Pam, who got badly off, bringing up the rear, and
they ran in this order to the distance, where Despair joined
the leaders, and heading Wellesley opposite the enclosure,
the pair finished a close race home, resulting in a dead heat.
King Charles was a bad third, the favourite fourth, and
Queen Mary last.
Deciding Beat.—Betting-2 to 1 pn Wellesley, who
made all the running, and won cleverly by a length.
Kenyon rode Wellesley in this heat.

A Sweepstakes of 10 sous each, h ft,. with. 150 added,

Three miles.
Captain Pigott's The Scrub, list (Mr. Pritchard) 1
Lord C. Ker's Clarina, 11st 71b
Captain Tempest's Bird of Passage, Ust (Mr. Lawrence) 3

Three others also ran.

Betting-5 to 2 agst Bird of Passage, 100 to 30 agst
Clarina, 5 to 1 agst The Scrub, and 10 to 1 agst any other.
Won by three lengths.
The Ladies' Purse of 5 soya each, with 25 added; weight
for age; penalties and allowances; winner to be sold,

Half a mile.
Captain Machell's Isabel, by Flyaway, 2 yrs, Est 121 b

(Kenyon) 1
(X2O) ...(Sayers) 3
(Morris) 2
iiiMrrE'lv2tr).)eniciohp'shalnida,s,
C3lyarras: 82sytr9s,lbtis(-Zt
9210 b)
Betting-4 to lon Isabel. Wen easily by two lengths.
The Grand Military Hurdle Race Plate of 75 sovs, weight
for age ; penalties and allowances. One mile and a half,
over four flights of hurdles.
Capt. p oleman's Sorceress, 3 yrs, lOst (Capt. Harford) 1
Mr. Douglas's Maharajah, 12st ............(Mr. Lawrence) 2
Mr. Mence's Newcastle, 12st 101 b .........(Capt. Ricardo) 3

Betting-9 to 4on Sorceress, and 4to 1 each agst Ma.
haraajti and Newcastle.

OBJECTION TO TIGER.

March 7, 1867.

I object to Tiger as second for "Grand Military," Col.
Knox having ridden him to the right of white flag before
coming to the up jump out of the plough.

CHARLES INNES KER, Scots Fusilier Guards.

HORSES STRUCK OUT OF THEIR
ENGAGEMENTS.

February 28, at 2.45 p.m., Discretion, out of the Annual
and Handicap Hurdle Racesat Liverpool.

March 1, after 6 p.m., Plover, out of Grand National
Steeple Chase, Liverpool.

March 1, after 6 p.m., Caithness, out of Liverpoo;
Spring Cup.
__

March 1, after 6 p.m., Exceller and Ornament, out o:
Flying Stakes and Sefton Handicap, at Liverpool.
March 4, at 9 a.m., Flyfisher, out of Chertsey handi.
caps. _ _

March 4, at 9 a.m., Miltown and Limerick, out of Grand
National Steeplechase, at Liverpool.
March 4, at 9 a.m., Grace Darling, Sweet Home, and
Charley, out of Liverpool engagements.
March 4, at 1 p.m., Merrimac, out of Liverpool Grand
National Steeplechase.

March 4, at 4.55 p.m., Columbia, out of the Liverpool
Grand National Steeplechase.
March 5, at 9 a.m., First Blood, Maggie, and Wiseman,
out of Liverpool engagements:
March 5, at 9 a.m., Dr. 4olloway, out of Liverpool
Grand National Steeplechase.
March 7, at 9 a.m., Thomastown, mat of Croydon, Chel-
tenham, and Warwick engagements.

amounting in value to 601
extra (penalties not accumt
30 sous out of the stakes :
subs.

Ago st lb
Saccharometer ... a 910
Redan ... 4 8 9
Vandervelde (inc.
101 b extra) ... 6 8 6
Sweet Anne ... 4 7 13
Cadiz ... a 7 12

Impostor o 7 11
llopvine 4 7 1
Musician ... 4 6 12
Clatford 4 6 11
F by North Lincoln
out of Molly ... 3 611
Gretna ... 4 6 10

IVEDx

10 sovs 101 b, 400 71b, 200 slb
alative); the second to receive
; about one mile straight. 24

Slender
Nailor
Dannebrog
Pinchbeck...
Python
Barrington

Age st lb
... 4 6 10
... 4 6 10
... 4 6 7
... 4 6 7
... 3 6 5
... 3 6 5

Airel v ... 3 6 4
Court Card ... 3 6 4
Leases 3 6 4
Numa Pompilius ... 3 6 2
Dutch Admiral ... 3 6 1
Knight of Downe... 3 6 0
Bretolino ... 3 5 10

:ESDAY.

The Epping Forest Stakes of 3 sovs each, with 25 added,
for two year olds ; colts Bst 121 b, fillies Bst 7lb ; the
winner to be sold for 150 snvs ; five furlongs.

The Hyde Plate of 30 sovs, for two year olds; colts Bst
101 b, fillies, Bst 71b; the winner to be sold for 100 sovs;
if entered for 50 sovs allowed 71b; five furlongs.

The Gentlemen Riders' Plate of 25 soya (handicap), for
three year olds and upwards ; winners of any handicap
after the publication of the weights Sib extra; profes-,
sionals 71b extra ; five furlongs.

The Springfield Selling Stakes of 3 sovs each, with 25
added ; two year olds 7st 31b, three 9st 31b, four 10st,
five, six, and aged lOst 31b; mares and geldings
allowed 31b ; three year old maidens allowed 51b, four
and upwards 101 b: the winner to be sold for 150 sovs ;
if entered for 100 sove allowed 71b, 50 141 b, 30 211 b
half a mile. To close and name on or before seven

o'clock on Tuesday evening.
The Fairlands Handicap of 5 sovs each, with 30 added, for
all ages ; the winner to be sold for 100 sous; three guar_

ters of a mile.
The Essex Stakes (Handicap) of 10 sous each, h ft, with
50 added; winners once after Feb. 28 (at ton a.m.) 51b,
twice 71b extra ;' about 7 furlongs ; 8 subs.
• Age st lb • Age st lb
Lytham ... 6 812 Puebla ... 5 7 2
Roden 4' 8 7 Aurora ... 4 6 7
Confederate ... 6 7 13 Pinchbeck... ... 4 6 7
Musician ... ... 47 2 NUM& Pumpilins ... 36 5
The Borebani Plato of 40 soya, for.two year olds; colts Bst
101 b, fillies Bst 71b.p*winners once 51b, twice 71b extra ;
beaten horses allowed slb half a mile.
Constance, Maturity,;, Alice Bray filly, Glen Morriston,
colt by Newcastle, Colsterdale, The Gentle Shepherd,
Valentine's Day colt, Tutelina filly, and Tura Out.

PROGRAMME OF CHERTSEY ROYAL HUNT,
MILITARY, AND OPEN STEEPLECHASES.
TUESDAY, March 12.
The Hunters' Stakes of 3 sovs, with 20 added, for horses
that have been hunted with any established pack of
hounds during the season of 1866-67 ; 12st each ; the
winner to be sold for 100 sovs ; if entered for 50 sovs
allowed 71b, 40 141 b; qualified gentlemen riders that
have never won a race value 50 sovs allowed 71b ; a
winner of 30 sovs 51b extra : about three miles.
The Woburn Park Plate (Handicap) of 50 sovs ; winners
of 100 •soya after March 2 (at teu a.m.) 101 b, any other
"'winner 71b extra ; about two miles and a quarter.
Age st lb Age at lb
Sir Bobby ... a 12 10 Lisette 5 10 7
Benazet a 12 5 Cutler ... a 10 7
Flyfisher (dr) ... al2 5 Miss Dodson (dr)... 610 4
Ibex a 12 0 Orontes ... 5 10 4
Comberton 11 7 Ballet Girl... ... 6 10 4
Siuite .. a 11 5 Ace of Spades (dr) a 10 4
Pearl Diver ... a 11 4 St. Maximum a 10 4
Stiff ... ... 6 11 2 Pearl ... 4 10 0
Triumpher (dr) 6 11 0 Confusion ... ... a 10 0
Clementi ... 611 0 Bandolino (dr) ... alO 0
Brahma ... ... 510 12 Hecate ... ... 510 0
Palermo ... a 10 7 Over the Sea a 10 0
Wedding Peal ... 510 7 Vindicator (dr) ... alO 0
The Chertsey Open Handicap of 10 sovs each, h ft, with
100 added ; winners of any steeplechase value 100 sovs
after March 2 (at ten a.m.)lolb extra; the second in the'
Liverpool Steeplechase 71b, any other winner 71b extra;
the second to save his stake; about three miles and a
half ; 12 subs. The highest weight accepting being list
101 b, it has been raised to 12st 71b, and the others in
proportion.

Age st lb
a 12 7

Gamecock ...

Age st II)
... a 11 1