The Sun.
London, England, 1861-10-23 00:00:00

N°. 21,626

TELEGRAPH TO INDIA COMPANY
(Limited).
Capital, £lOO,OOO, in 50,000 Shares of £2 each, with power to
increase to £250,000. Deposit 105. per Share on application
and 10s. on allotment.
Registered under the Joint Stock Company's Act.
CHAIRMAN—Sir MACDONALD STEPHENSON.
DIRECTORS.
Philip Patton Blyth, Esq., late of the Mauritius.
Sir George Bonham, Bart., K.C.8., late Governor of Hong
Kong.
The Ilon. James Byng, Chairman of the South Eastern Rail-
way Company.
William Dent, Esq., late of the lion. E. I. Co.'s Civil Service,

Bengal.
Frederick Gaussen, Esq., 27, Chester-square.
Capt. W. H. Hall, R.N., C. 8., Director of the Peninsular and
oriental Company.
John Farley Leith, Esq., late of Calcutta, Chairman of the
Eastern Bengal Railway Company.
Alexander Wilson, Esq., V.R.S., late of the Hon. E. I. Co.'s
Civil Service, Madras.
(With power to add to their number.)
OFFICIAL AUDITOR—J. A. Franklyn, Esq.
SOLicrmus—Messrs. Freshfields and Newman.
BROKURS—Messrs. Knight and Coleman, 1, Royal Exchange-

buildings.
ENGINEERS—Sir Charles Bright and Latimer Clark, Esq.
BANKERS—The London and County Bank.
SECRETARY—C. L. Peel, Esq.
officts-62, Moorgate-street, E.C.

- -
A very brief explanation is alone required of the objects of
this Company.
1. The Red Sea and India Telegraph Company, upon the
guarantee of her Majesty's Government of 44 per cent. per an-
num for fifty years, have expended £BOO,OOO in laying a cable
between Suez and Kurrachee.
2. Every section of this line worked satisfactorily for a
period of several months, and the whole line carried through
messages between Kurrachee and Suez for several days.
Faults subsequently occurred in several of the sections, which
have never been repaired.
3. The Government have agreed to transfer the line, sta-
tions, and property of the Company to a new Company, to be
formed for the purpose, on very liberal terms. These are in
substance-
-Ist. That the cables, land-lines, instruments, stations,
concessions, &c., belonging to the old company shall
be made cr to the new Company, free from charge.
2d. That the new Company shall use their best endea-
vours to repair the line and to work it when completed,
beginning with the line between Aden and Kurrachee ;
and are to have possession so soon as two-thirds of the
capital is subscribed, and one-third paid up, and asuit- •
able vessel despatched with not less than 200 miles of
new cable on board
3d. That the new Company shall be entitled to a clear
dividend out of the profits to 25 per cent. per annum on
the money paid up. And the Government is to have
the power to repurchase the line on repaying the capital
expended, at the expiration of 30 years.
9th. That any surplus profits shall be applied to reim-
bui se the Government for the interest they have paid
and will have to pay annually upon the original capital
expended; after which any further profits whdch may
accrue will be applied to the creation of a reserve fund.
sth. The accounts of the Company will be audited at the
Treasury half-yearly. After the restoration of the line
any outlay of capital to be subject to the approval of
Government ; and the Government is to have the right
(subject to arbitration) of disallowing working expen-
diture which they may consider excessive.
Cth. In the event of the failure of the Company to restore
or maintain the line in working order the Government
are to have the power of taking' it into their hands again
on repaying the capital actually expended by the new
Company. Should the Government not exercise this
right the Company are to be at liberty to dispose of the
property to reimburse their outlay, the balance, after
defraying the actual expenditure, to be handed over to
the Government. Failure is to be defined to be the
non-working of the line from end to end alter reason-
able allowance of time for restoration.
7th. All differences between the Government and the
Company to be decided by arbitration.
Sth. This arrangement' presupposes the eoncu trove of
the Shareholders of the old Company in the terms pro •
posed to them by her Majesty's Government; any Par-
liamentary powers necessary to give effect to these
arrangements are to be obtained by her Majesty's Go-
vernment.

-...-.,—.
4. Of the vast importance, in a national point of view, of
telegraphic communication with the British dominions in
India, there can be but one opinion ; and now that the com-
munication is complete from London to Suez. and through-
out all India by Kurrachee, it is impossible that the matter
can be left in its present condition, and the wanting link
unsupplied.
5. The grounds which commend the subject as a specula-
tion are these :—XBOO,OOO has been expended in laying a line
which for a time was perfectly successful. This line will be
anded over to the Company, free of all charge or liability.
No attempt has as yet been made to restore the commu-
nication between Aden and Kurrachee. On the other
hand, the Company's suoerintendent, Mr. Brunton, has
expressed a confident opinion that the faults are many of
them very trifling, and all capable of repair. This view is
confirmed by the opinions of Sir Charles Bright and Mr.
Latimer Clark, who have been consulted on the subject. In
one of the sections, of nearly 500 miles, there has never been
any fault, and those which do exist in the other sections are
believed to be in shallow water. An estimate has been made
by Messrs. Bright and Clark of the cost of repairing, the line
between Aden and Kurrachee, which they consider can be
effected for a sum not exceeding £50,000. The venture is
small, while the returns will be on the scale of an original
expenditure of .CBOO,OOO.
6. It is proposed to limit the first operations to the repair
of the line between Aden and Kurrachee. When this is
effected the period of a message to all parts of India will be
abridged to five days. This will be not only a vast public
object, but there is no doubt, from the experience of the line,
when partially open, that the number of messages will be
very great.... . . .

7: iirhen this Eastern division has been completed there
will remain only that between Suez and Aden, which can un-
doubtedly be made good by restoration of the existing cable,
in whole or in part. If it should be decided to make any
part of it a land line, it can be done at comparatively small
op, t.

8. The intention is, as soon as the capital, or a sufficient
amount has been subscribed, to dispatch a steamer with 200
miles of new cable, so as to complete the communication up
to Aden early in 1862.
Forms of application for shares and information may be
obtained at the Offices, or from the Company's Brokers,
Messrs. Knight and Coleman, No. 1, Royal Exchange-build-
ings.