The Sun.
London, England, 1866-03-19 00:00:00

INAHAN'S LL WHISKY. - DUBLIN
EXHIBITION, 1865.
This celebrated OLD IRISH WHISKY gained the
Dublin Prize Medal.
It is Pure, Mild, Mellow, Delicious, and very Whole-
some.
, Sold in Bottles, 3s. Bd., at the Retail Houses in Loudon ;
by the 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."

REUTER'S TELEGRAM COMPANY
(Limited).
SECOND ISSUE.
Capital £950,000 in 10,000 shares of £25 each.
Issue of the remaining 5,000 shares.
£1 payable on application, and £1 on allotment. Further
calls not to exceed £5 per share, and at intervals of not
less than three months. It is not expected that it will
be necessary to call up for the present more than £5 per
share.

• DIRECTORS.
John Dent, Esq. (of Messrs. Dent and Co., China).
Sir John Hay, Bart, Chairman of Miliwall Ironworks.
Colonel J. Holland, Deputy Chairman of the South African
Bank.
J. S. Stopford, Esq., Director of the Agra and Masterman's
Bank.
Julius Reuter, Esq., Managing Director.
BANKERS.
The
la Agra and Masterman's Bank (Limited), 35, Nicholas-
ne.

BROKERS.
Messrs. Walker and Lumsden, 25, Austinfriars.
SOLICITORS.
Messrs. Bischoff, Cox°, and Bompas, 19, Coleman-street.
AUDITORS.
Messrs. Quilter, Ball, and Co., 3, Moorgate-street.
ENGINEERS.
Messrs. Fordo and Fleeming Jonkin, Duke-street, Adelphi.
SECRETARY.
Frederick J. Griffiths, Esq.
Offices-1, Royal Exchange-buildings.
PROSPECTUS.
The Directors invite applications for the unissued shares
!ri this Company, numbering 5,000, for the purposes here-
inafter mentioned.
Mr. Reuter, by his personal influence on the Continent,
has obtained,' and has handed over to this Company, a con-
cession from the Hanoverian Government, giving an exclu-
sive right for 30 years to lay down and work submarine
telegraphic cables between the English and Hanoverian
coasts, and the same exclusive right to lay land wires to
ecttain important places in Germany, besides other contin-
gent advantages of a very valuable character.
Official statistics in the possession of the Directors show
that the number of messages between England and Ger-
ntny in tree four years ending 1861 had increased 130 per
cent., and in the last two years alone 80 per cont. ; and it
matter of notoriety that the existing lines are unable to
it)nrreY messages with the expedition which is above all
Ilings desirable in telegraphy.
The Directors are in a position to state that under the
concession obtained, and the arrangements they have con-
cluded for working it, they will be able to transmit mes-
Sages from England to the places named below within afew
minutes from the time of despatch.
arrangements have been made with the well-known
contractors, the Telegraph Construction and Maintenance
n,nlPariy, for constructing and laving down the requisite
?la"le, by which the actual cost of- all the work to be done
as been accurately determined.
The Electric and International Telegraph Companybave
agreed to an arrangement by which the use of a certain
number of wires is to be ceded to them for a term of five
I,!ars, that company guaranteeing the transmission over
,ue Hanoverian cable of the whole of the messages col-
lected at their different stations in the United Kingdom,
for,, Hanover, Bremen, Hamburg, Schleswig-Holstein,
Denmark, Sweden, Norway, &c., and further guarantee-
ing a minimum amount of business which, under the
_con-
ditions of the concession, and under normal circumstances,
Will produce a minimum annual revenue equal to 15 per
c
vr
ent. on the total amount of capital required.
The agreements, concessions, and other data on which
this
estimate is based having been placed in the hands of
I!'re well-known accountant Messrs. Quilter, Ball, and Co.,
their certificate of the correctness thereof, annexed :
" No. 3, Moorgate-street, Feb. 23, 1866.
Sir, _ Having perused and considered the documents
4nt,„entioneci in the subjoined note relating to the subject of
1,..'"0 proposed Submarine Telegraph between England and
4anover we are enabled from the data therein contained
and other information supplied to us, to state the follow-
-1411,g facts and conclusions respecting the profit results of
Lae undertaking.
. " The requisite amount of capital will be .£150,000 ; that
is t° say, £130,175 for manufacturing and laying down the
cable, leaving the sum of £19,825 to provide for contin-
gencies and working capital.
" Estimating the revenue to be derived under the agree-
fent with the Telegraph Company upon the basis of the
minimum number of messages guaranteed to be forwarded
Fn that Company, we find, after paying or reserving to the
snlPany their proportion of the net receipts, that the net
Profit will amount to at least 15 per cent. per annum on the
atal amount of the capital required—namely, £150,000.
" Raving regard, however, to the probability • that the
actual traffic of the cable will greatly exceed the secured
uitlium there •is reasonable ground for expecting-that
the actual rate of profit will considerably exceed 15 per
Cent per annum.
"We remain, Sirs, yours faithfully,
" QUILTER, BALL, and CO.

• "To Julius Reuter, Esq.
ITO.° of Documents referred to-
1. Translation of concession granted by the King of
Hanover to Mr. Julius Reuter.
2. Copy of agreement with the Electric Telegraph
Company.
on 8. Specificati for the manufacture of the cable from
Cromer to Norderneyby Messrs. Fordo and Fleem-
ing Jenkin.
4. Contract with the Telegraph Construction and
Maintenance Company for the manufacture and
laying of the cable in terms of the foregoing spa-
ciflcation.
4 it will thus be seen that the directors have indicated only
the minimum of profit virtually guaranteed to the share-
olders; and that there is every reason to anticipate, from
the rapidly-increasing extension of the traffic, that this
amount will be largely exceeded.
This minimum is, moreover, entirely exclusive and in-
d 'Pendent of the continually increasing profits of the busi-
rassbpirhased from Mr. Reuter, which will be very cowl-
augmented by the use of the wire retained by the
CO
ZaPany for the purposes of that business.
he durability of cables in'shallow waters, such as the
p.°l.th Sea, where the Company's cable will be laid, is
paTed by experience. They are as safe, and can be re-
to ,-,.red almost as easily, as land wires. The existing cables
h Oland have been laid several years, and that between
''_L'oyer and Calais 15 years, and they continue at the pre-
sent time in good working order.
ti The cable will probably be ready for the transmission of
(rages by the end of August next.
The Telegraph Construction and Maintenance Company
e taken one-fourth of the amount of their contract in
s.shares of the Company; but the contract with them is based
;Ton a bona fide cash price, the lowest obtainable in the
Market for first-rate work, they considering the investment
'`me and profitable, and looking to the future profits cf the
„
"leern for remuneration.
-chore is no promotion money, nor any commission paid
for obtaining the concession, Mr. Reuter having handed it
over to the Company gratis.
Applications for shares to bo made in the annexed form,
.t.companied by a deposit of £1 per share. Should no al-
lotment be made the amount will be returned without de-
duction.
Prospectuses, with fonds of applications for shares, may
lie obtained at the offices of the Company, of the Brokers,
cit of the Solicitors.

FORM OF APPLICATION FOR SHARES.
(To bo left with the Bankers.)
To the Directors of Reuter's Telegram Company
(Limited).
Gentlemen--Having paid to your credit with the Agra
and
mof aster man's Bank the sum of , being a deposit
rn!l- per share on shares in the above Company, I
that you will allot me shares of £25 each in
a'ter, s Telegram Company (Limited)," and I hereby
gree -`vu
e accept the same, or any smaller number which you
y allot to me and I request you to place my name on the
may
of members in respect of the shares allotted to me.
I am, gentlemen, your obedient servant,
Name in full
Address in full
Profession
Usual signature
Date 1866.

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