The Sun.
London, England, 1866-03-17 00:00:00

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
leas:than three months. It is not expected that it will
s are
be necessary to call up for the present more than £5 per

1, DIRECTORS.
.''
--11 Dent, Esq. (of Messrs. Dent and Co. China).
coloneln. ,-ray,
n Bart., Chairman of Millwall Ironworks.
J. Holland, Deputy Chairman of the South African
Bank.
J• R
Julius ,--- Stopford, Esq., Director of the Agra and Masterman's
Bank.
Reuter, Esq., Managing Director.

Th BANICERS.
ie
m Agra and Masterman's Bank (Limited), 35, Nicholas-
oe.

lIROKERS.
Messrs. Walker and Lumsden, 25, Austinfriars.
SOLICITORS.
Messrs. Bischoff, Coxe, and Bopas, 19, Coleman-street.

AUDITORS.
Uessrs. Quilter, Ball, and Co., 3, Moorgate-sf root.
Messrs. ford© and Fleennomins.n,
ki Duke-street, Ade]phi.

Frederick J. Griffiths, Esq.
Offices-1, Royal Exchange-buildings.
PROSPECTUS.
jr,T„he Directors invite applications for the unissued shares
" this Company, numbering 5,000, for the purposes here-
after mentioned.
has lar• Reuter, by his personal influence on the Continent,
obtaMed, and has handed over to this Company, a con-
08ton from the Hanoverian Government, giving an exclu-
tele right for 30 years to lay down and work submarine
cographic cables between the English and Hanoverian
te,ts, and the same exclusive right to lay land wires to
,'"'tfin important places in Germany, besides other contin-
gent advantages of a very valuable character.
t,Ofacial statistics in the possession of the Directors show
n'llat the number of messages between England and Ger-
v,e4„ll4Y in the four years ending 1864 had increased 130 per
and in the last two years alone 80 per cant. ; and it
matter of notoriety that the existing lines are unable to
et?),ll,llßa desirll'637 messaes with the expedition which is above all
desirable in telemra phy.
Directors are in 'a
position to state that under the
i°lllcession obtained, end the arrangernenth they have con-
9'4d for warking it, they will be able to transmit mes-
PS from England to the places named below within afew
°utes from the time of despatch.
00'1-trangements have been made with the well-known
ractors, te Telegraph Construction and Maintennce
r°,113, Pany, forcenstructing and laying down the requisite
a`",,e by which the actual cost of all the work to be done
been accurately determined.
mead
Electric and International Telegraph Companyhave
number to an arranement by which the use of a certain
'Aber of wires b dd to them for a term of five
is to e ce e
3'ears, ti„that company guaranteeing the transmission over
le,7,24anoverian cable of the whole of the messages col-
atl4l'eti their different stations in the United Kingdom,
Hanover, Bremen, Hamburg, Schleswig-Holstein,
ibenillark, Sweden, Norway, &c., and further guarantee-
dig a nainimum amount of business which, under the con-
tentnB of the concession, and under normal circumstances,
een,.on Produce a minimum annual revenue equal to 15 per
the total amount of capital required.
this estimate is based having been placed in the hands of
4V•08.1vell-lmown accountants,:Messrs. Quilter, Ball, and Co.,
ir certificate of the correctness thereof, annexed :
" No. 3, Moorgate-street, Feb. 23, 1866.
mentioned." Sir— Having perused and considered the documents
t,o in the subjoined note relating to the subject of
Proposed Submarine Telegraph between England and
~__lziover, we are enabled from the data therein contained
and other information supplied to us, to state the follow-
tt-l.g facts and conclusions respecting the profit results of
the undertaking.
requisite amount of capital will be £150,000 ; that
ntit)o say, .£130,175 for manufacturing and laying down the
'4 le, leaving the sum of £19,825 to provide for contim-
teacies and working capital.
," Estimating the revenue to be derived under the agree-
ment with the Telegraph Company upon the basis of the
by
number of messages guaranteed to be forwarded
nY that Company, we find, after paying or reserving to the
°lbPany their proportion of the net receipts, that the net
to will amount to at least 15 per cent. per annum on the
"al amount of the capital required—namely, £150,000.
:.1‘ }laving regard, however, to the probability that them
,7,o.ltraffic of the cable will greatly exceed the secured
eetatura, there is reasonable ground for expecting that
ee actual rate of profit will considerably exceed 15 per
ant' Per annum.
"We remain, Sirs, yours faithfully,
" QUILTER, BALL, and CO.

xi." ll_ 0 Julius Reuter, Esq.
""le of Documents referred to—
L Translation of concession granted by the King of
Hanover to Mr. Julius Reuter.
-* Copy of agreement with the Electric Telegraph
UOMpany.
specification for the manufacture of the cable from
Cromer to Norderney by Messrs. Forde and Fleem-
4.
Jenkin.
Contract with the Telegraph Construction and
Maintenance Company for the manufacture and
laying of the cable in terms of the foregoing spe-
lt cification.
the Will thus be seen that the directors have indicated only
hoir4linium of profit virtually guaranteed to the share-
the -11; and that there is every reason to anticipate, from
arn PldlY-increasing extension of the traffic, that this
,°upt will be largely exceeded.
d lus minimum is, moreover, entirely exclusive and in-
13:Pendent of the continually increasing profits of the busi-
cl rnsahrrehased from Mr. Reuter, which will be very consi-
eo— 37. augmented by the use of tho wire retained by the
ferny for the purposes of that business.
l‘z e durability of cables inlahallow waters, such as the
PrOct,ll'a Sea, where the Company's cable will be laid, is
pain experience. They are as safe, and can be re-
to tr almost as easily, as land wires. The existing cables
bov°lland have been laid several years, and that between
sent. ti and Calais 15 years, and they continue at the pre-
-11:113 in good working order.
pre-
me Cablo will probably be ready for the transmission of
TTges by the end of August next.
114,,,,Z? Telegraph Construction and Maintenance Company
Filial; Laken one-fourth of the amount of their contract in
lap, 80f the Company; but the contract with them is based
, karrilca Dena fide cash price, the lowest obtainable in the
kfe et for first-rate work, they considering the investment
e01),e414 profitable, and looking to the future profits of the
Thern Mr remuneration.
far %bil. Is no promotion money, nor any commission paid
Per to he the concession, Mr. Reuter having handed it
4,0 ale Company gratis.
ittoPPlicat ion s for shares to be made in the annexed form,
lettl:Panied by a deposit of £1 per share. Should no al-
tinetiollht be made the amount will be returned without de-
Lllros"'
ebtareluses, with forms of applications for shares, may
er of the at the offices of the Company, of the Brokers,
‘kt Solicitos.
P

,1866,