The Sun.
London, England, 1866-03-12 00:00:00

This Company has been established for the purpose of
executing in the course of the present year the great enter-
rise of laying a submarine cable between Ireland and New-
foundland, so as to connect telegraphically the Old World
I.'" the New, and to raise the cable partially laid last year,
in order to complete a second line to America.
The circumstances attending the recent attempts to carry
131,11 t this work have greatly increased the confidence of all
those who have been engaged in it, and they are convinced
that this renewed effort will be attended with success.
fThe whole length of 1,12 nautical miles of cable laid
'°el the Great 'Eastern i2n July last, continues perfect,
Recording to the daily reports of the electricians in charge
at Valentia ; and the observations taken by Captain James
ititßierson, of the Great Eastern, and Staff-Commander
the 4. rbY A. Moriarty, R.N., have determined the position of
token end with the utmost accuracy. Mr. Canning
Red the other engineers engaged in the late expedition arc
confident that with the machinery and tackle now being
prepared they will be able to raise the cable, and complete
40liae to Newfoundland.
The 1,070 nautical miles of cable, which has remained on
:,card the Great Eastern since August last, is certified to be
111,48, Perfect condition as when it was shipped. • _
~..the Atlantic Telegraph Company had arranged for pro-
'-ung the funds necessary for resuming the work by an
rn. of new 12 per cent. First Preference Shares ; but hay-
11,1g been recentladvised that such issue is not authorised
Y their atof Parliament, the proposal has been with-
c s
WII and all the subscriptions are being returned.
, It has therefore been decided that, for the purpose of aid-
ing in the completion of tkis important undertaking, an
entirely distinct Company shall be formed, and this Com-
PattY is accordingly formed with valuable privileges, here-
rlAtlantic Specified, secured to them by agreements with tho
antic Telegraph Company, and the New York, New-
°R,adland, and London Telegraph Comp.any.
f` copy of the Memorandum of Association, which has
7en registered in accordance with the Companies Act,
4822, is annexed.
44,-ehe effect of the agreement entered into between the
'main Telegraph Company and this Company is that the
]utter undertake the construction for the former Company
of 1,660 nautical miles of new cable to be added tothat now
711 board the Great Eastern, and from that 'vessel, between
teiand and Newfoundland during the ensuing summer,
411(1 for the adoption of suitable measures for raising and
ecitapleting the broken cable of last year.
.;,1:1318 Com
case also engage to work both cables, or
i-Luer, as thep' may be, as the agents and on behalf of
ale
the
Telegraph Company during the continuance
(;) the agreement; and the agreement further provides that
"%eonsideration of the engagements so contracted by this
inpaay, there shall be an annual payment by the At-
e-Rtic Telegraph Company to this Company out of the
arnings from the working of the cables of £125,000, the
tathraagernent being that the receipts in each year from all
Atlantic Telegraph Company's lines are, after paying
11,„1'43,111 ses of repairs, management, working, and direction,
interestl,-( (not exceeding £5,000 per annum) on the de-
-7 priatltteared sthoufs :tll3_Atlantic Telegraph Company, to be appro-
First. In paying to this Company £125,000 per
annum.
Second. In paying £72,000 per annum (represent-
ing 8 per cent. on the Atlantic Company's exist-
ing Preference Stock and 4 per cent. on their
ordinary Stock) to the Atlantic Telegraph Com-
pany, and
Third. The entire balance of each year's receipts is
to be divided between this Company and the At-
lantic Telegraph Company in equal shares ; but
no deficiency in respect of the above annual pay-
ments in any one year is to be carried forward to
another year.
t tie right is rescrvedto the Atlantic Telegraph Company
184rniinating the agreement on or before the Ist January
Do. (c'n giving three months' notice to that effect) by
ddnYttlent to this Company of the sum of £1,200,000, being
ouble the amount of its capital. If, however, the 21.tlan-
, Telegraph Company exercise this option, the Anglo-
eriean Company will have the right to take payment of
halfAt £1,200 000, one
bha iresncasalp
ptl,l_ionwstilalf.ti
,;-fin
tinerd_wintius%
eis, the event of the Atlantic Telegraph Company exer-
un Ing their ht of redemption by payment of the aboye-
eLed sum 0ff£1,200,000 this Company will be forthwith
hi-'`aved and the funds distributed amongst the share-
elders.
02116 New York, Newfoundland, and London Telegraph
gr,7,13,,!'11y, with a view of securing the completion of tele-
tli;ire communication between Ireland and Newfoundland
40,21 g the present year, have by their Deputy-Chairman,
to 't.lll London, agreed to contribute £2s,ooper. annum
the 'la Company out of their share of then eceipts, for
oveftgla messages between Ireland and America, and passing
r their lines. This subsidy will terminate upon the pay-
t7, nt by the Atlantic Telegraph Company of the £1,200,000
bu°"ve-inentioned, or upon both cables ceasing after 31st
if,recereber 1866, to be in working order for twelve succes-
ll'oreltlle'atils• The agreement has been forwarded to New
for formal ratification there.
" SUM up the financial arrangements, the effect will be
S follows .
The *--
tp,_ shareholders in this Company will be entitled to
i„,,,.0,000 a-year out of the earnings of the Atlantic Tele-
Zah Company's lines, and £25,000 a-year out of those
e,`',°o Newfoundland Company for through business, to-
-- luer £150,000 n-year upon a capital of £600,000, making
Per cent. per annum. But this b no' means represents
all the advantages which may accruey , as, according to the
114W:diens that have been made, it is confidently belies:ed
that even with a single cable and a low tariff the revenue
will afford a large additional sum for division. An esti-
oili,,e, drawn
probablep üby practical and experienced telegraphists,
returns is annexed.
tt:t ae Directors have great confidence in recommending
It undertaking to the public.
h.,410 Telegraph Construction and Maintenance Com-
a's.ll3' will manufacture the new cable and undertake the
I,e:lW execution of the -work contracted for by this Corn-
ifell3'l as above stated (up to the opening of the Atlantic
f6O graph lines for public business), for a total sum of
Teles"'"o, with a bonus, to be provided by the Atlantic
graPli Company, undertheiragreement with this Com-
grjei £137,140 in ordinary shares of the Atlantic Tele-
-14 g" Company, payable by instalments, extending over
Plet alttba, in case the cable of last year is successfully com-
em, and continues in working order during that period.
ialoe the Possible contingency of the new cable not being
grti Niully laid, X. 500,000 only will be paid to the Tele-
Cor,P,4 Construction and Maintenance Company, and this
th;"Patly will in that event be entitled to the value of all
c..er-t:.°llsed and recovered cable (subject to the payment of
this specified charges thereon), and it is estimated that
turbo trrangement will provide, in case of failure, for a re-
° the shareholders of this Company of at least one-
thelf their paid-up capital.
of the deposits on shares will be returned to
are i;"')scribers if two-thirds of the capital of the company
No: subscribed, or if the agreement with the New York,
rat•R`cmadland and London Telegraph Company is not
bY
c„l4 Pies of the Memorandum and Articles of Association
ko:' inaPected at the counting-house of Messrs. J. S.
tire:, and Co., and Contracts at the offices of Messrs.
and Co., 46, Parliament-street.

IGLO-AMERICAN TELEGRAPH COMPANY
. (Limited).
sent:': Directors cannot of course bind themselves at pre-
will any tariff for messages. The amount to be charged
Eild 1,7 a matter for consideration hereafter. But it may be
V,,t,agsumed that it will not be less than ss. per word.
hoeb-,:"l'g at 5s per word, only five words a minute, 24
them Per day, and allowing 300 working days for the year,
t Aw,,„011.1d be a gross revenue of £l,BOO a day, or
11;,u a-year. This is for one cable only.
as
their' atgliest authorities in electrical science give.'
°Phaton that eight words a minute could easily be
re,,sltled through the Atlantic Cable. And there is every
Ivo , to anticipate that at a tariff of anything like ss. a
p.,„!'' there would be more messages offered than the Cora-
-Irha could transmit. •
esti,eundersigned append their names as considering this
-te of the probable result a reasonable one.
LATIMER CLARK, M.1.C.E.,
Consulting Engineer to tho Electric and In-
national Telegraph Company.
RENRy C. FORDS, M.I.C.E.
FLEEMING JENKIN, F.R.S.
WILLIAM THOMSON, LL.D., F.R.S.,
Professor of Natural Philosophy in the Uni-
versity of Glasgow.
CROMWELL F. YARLEY, M.1.C.E.,
M.R.1., &c., &c.,
Electrician to the Electric and International
The Telegraph Company.
realisation of this estimate (allowing £25,000 per
the '6ll
for working expenses) would make the income of
°TPany over £300,000 per annum.
Pplieations for shares are to be made, and the deposit of
It (Pe! share paid, to Messrs. J. S. Morgan and Co., 22, Old
from whom Prospectuses, with Forms of
vie:loon fpr Shares, may be obtained.
plied a less number of shares be allotted than is ap.-
itied,l°r, the deposit will, so far as required, be appropri-
Ne4L?lvards the payment due on allotment. If no allot-
made, the amount deposited will be at once re-
Gtha‘without deduction.
1-4 3-tarch, 1866.
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confirmed cases of asthms, and incipient con-
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I,,ovorce incurable, admirably allays the tickling %Inch
ltB eft em irequent coughing. In approaching consumption
!=voo"itnt!iyi truly beneficial. l'ersons deprived of sleep, or
In down for fear of suffocation, may depend on relief
tewA ralt!utes after taking it Prepareo °my and solo by
cress CIART, (.;bemlbt. 8, King-W Warn-street, c;haring-
thr,e ohdon, and by all dru,gists in , and
for Ullantities in one, 2s 9d each. Beparticular, and ask
enott-vi•iedbeoiltstila Ast,uniatic Balsam,'
The ;apple and address are
e tamp.