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

RINAHAN'S LL WHISKY. - DUBLIN
EXHIBITION, 1865.
This EXHIBITION,
OLD IRISH WHISKY gained the
Dublin Prize Medal.
It is Pure, Mild, Mellow, Delicious, and very Whole-
EMIG.
, Sold in Bottles, 3s. Bd., at the Retail Houses in London ;
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
limahan'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.
Payable on application, and £4 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 Millwall Ironworks.
Colonel J. Holland, Deputy Chairman of the South African
Bank.
J. S. Stopford, Esq., Director of the Agra and Masterman's
Bank.
Julius Router, Esq., Managing Director.
BANKERS.
Thlaneo Agra and Masterman's Bank (Limited), 35, Nicholas-

BROKERS.
Messrs. Walker and Lumsden, 25, Austinfriars.

SOLICITORS.
Messrs. Bischoff, Coxe, and Bompas, 19, Coleman-street.

AUDITORS.
Messrs. Quilter, Ball, and Co., 3, Moorgate-street.

•
ENGINEERS.
/leisrs. Fordo and Fleeming Jenkin, Duke-street, Adelphi.

SECRETARY.
Frederick J. Griffiths, Esq.
Offices-1, Royal Exchange-buildings.
PROSPECTUS.
The Directors invite applications for the unissued shares
Pl this Company, numbering 5,000, for the purposes here-
%after mentioned.
fir. 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 exelu-
81v right for 30 years to lay down and work submarine
telegraphic cables between the English and Hanoverian
cslats; and the same exclusive right to lay land wires to
certain 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-
many in the four years ending 1864 had increased 130 per
cent., and in the last two years alone 80 per cent. ; and it
le Matter of notoriety that the existing lines are unable to
eeveY messages with the expedition which is above all
lags desirable in telegraphy.
ejhe Directors arA in a uosition to state that under the
,Ileession obtained, and the arrangements they nave con-
cluded for working it, they will be able to' transmit mes-
sages from England to the places named below within afew
minutesfrom the time of despatch.
Arrangements have been made with the well-known
contractors, the Telegraph Construction and Maintenance
"ran, for constructin and lavine• down the ruisite ep
by
hcablewhich the actual cost of all work to be done
as been accurately determined.
The Electric and International Telegraph Companyhave
agreed to an arrangement by which the use of a certain
1111raber of wires is to be ceded to them for a term of five
?"ears, that company guaranteeing the transmission over
fle Hanoverian cable of the whole of the messages col-
lected at their different stations in the United Kingdom,
irHanover, Bremen, Hamburg, Schleswig-Holstein,
samark, Sweden, Norway, &c., and further guarantee-
g a minimum amount of business which, under the con-
!lltions of the concession, and under normal circumstances,
7111 produce a minimum annual revenue equal to 15 per
cent• on the total amount of capital required.
tv.he agreements, concessions, and othor data on which
estimate is based having been placed in the hands of
ttheir
well-known accountant Messrs. Quilter, Ball, and Co.,
certificate of the correctness thereof, annexed :
" No. 3, Moorgate-street, Feb. 23, 1866.
" Sir,—Having perused and considered the documents
mentioned in the subjoined note relating to the subject of
-p.dla Proposed Submarine Telraph between England and
,7411°ver, we are enabled from the data therein contained
sad other information supplied to us, to state the follow-
lag„ facts and conclusions respecting the profit results of
the undertaking.
tThe requisite amount of capital will be £150,000 ; that
la o 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-
ment with the Telegraph Company upon the basis of the
roimum number of messages guaranteed to be forwarded
c,,,V that Company, we find, after paying or reserving to the
PrsslPany their proportion of the net receipts, that the net
will amount to at least 15 per cent. per annum on the
total amount of the capital required—namely, £150,000.
" Having regard, however, to the probability that the
actual traffic of the cable will greatly exceed the secured
minimum, there is reasonable ground for expecting that
the actual rate of profit will considerably exceed 15 per
"rat per annum.
"We remain, Sirs, yours faithfully,
" QUILTER, BALL,, and CO.
" To Julius Reuter, Esq.
Note 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
Comny.
3. Specification for the manufacture of the cable from
Cromer to NorderneybyMessrs. 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 spe-
cification.
the It will th be seen that the directors have indicated only
us
minimum of profit virtually guaranteed to the hare
and that there is every reason to anticipate, from
-us rapidly-increasing extension of the traffic, that this
*Mount will be largely exceeded.
This minimum is, moreover, entirely exclusive and in-
Pendent of the continually increasing gprofits of the busi-
dsa Purchased from Mr. Reuter, which will be very consi-
derably augmented by the use of the wire retained by the
TiPany for the purposes of that business.
he durability of cables inlshallow waters, such as the
orth Sea, where the Compauy'. cable will be laid, in
Proved by experience. They are as safe, and can be re-
paired almost as easily, as land wires. The existing cables
Y; Rolland have been laid several years, and that between
'over and Calais 15 years, and they continue at the pre-
seat time in good working order.
The cable will probably be ready for the transmission of
Messages by the end of August next.
1, The Telegraph Construction and Maintenance Company
'Lave taken one-fourth of the amount of their contract in
shares of the Company; but the contract with them is based
upon a bona fide cash price, the lowest obtainable in the
market for first-rate work, they considering the investment
safe and profitable, and looking to the future profits cf the
concern for remuneration.
There is no promotion money, nor any commission paid
/or obtaining the concession, Mr. Reuter having handed it
over to the Company gratis.
Applications for shares to be made in the annexed form,
,accompanied by a deposit of £1 per share. Should no al-
lotment be made the amount will be returned without de-
duction.

Prospectuses, with forms of applications for shares, may
be obtained at the officos of the Company, of the Brokers,
or of the Solicitors.

FORM OF APPLICATION FOR SHARES.
(To be left with the Bankers.)
To the Directors of Reuter's Telegram Company
(Limited).
Gentlemen,—Having paid to your credit with the Agra
and Masterman's Bank the sum of being a deposit
X 1 per share on shares in the above Company, I
request that you will allot me shares of £25 each in
wee
Telegram Company (Limited)," and I hereby
to accept the same, or any smaller number which you
• Y allot to me, and I request you to place my name on the
glister 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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