The Sun.
London, England, 1868-08-15 00:00:00

ABRIDGED PROSPECTUS

The ol•ject of the Company is to establish and work a
direct line of Telegraph between the Continent of Europe
and the United States of America, in accordance with the
concession granted by the Imperial French Government
to Baron Emile d'Erlanger, of Paris, and Mr. Julius
Reuter, of London.
This concession bears date 6th July, 1868, and confers
the privilege of laying and:/korking Submarine Telegraphs
between France and the United States. The French Go-
vernment binds itself not to grant any other concession
for lines between France and North America during the
period of twenty years from the Ist September, 1869.
A concession granted by the State Legislature of New
York, for landing and working cables between that State
and France, has been secured.
Arrangements have been made with the Submarine
Telegraph Company for the exclusive use of one of their
wires between England and Dieppe, from which place the
French Government will construct a special wire to Brest
direct for the Company. By this means, the valuable co-
operation of the Submarine Telegraph Company has been
secured, and an uninterrupted route from England to the
United States will be established.
The French Government has promised its support and
as,istance to the undertakiug, and an honorary committee
of the highest position has been formed in Paris.
It has been generally acknowledged that., both for poli-
tical and commercial reasons, the laying of a direct and
independent cable from the Continent of Europe to the
United States was only a question of time, and consider-
in; the extraordinary increase of telegraphic messages
wherever new facilities are afforded, it is to be expected
that the new undertaking will create fresh traffic, inde-
pendent of that of the old companies, sufficient to insure
earnings of equal if not greater amount.
It will be the object of the new Company to fix such
rates for messages as will secure the largest possible traffic.
The price to be charged is intended to be £2 for a mes-
sage of 10 words, and it seems not too sanguine an expec-
tation that at this rat) the line will find constant em-
ployment.
The power of transmission of the new cable is estimated,
according to the report of the engineers and electricians,
at a minimum of twelve words per minute, which, allow-
ing 14 hours a-day for waste titne, and consequently only
ten 1 ours a-day for actual work, and taking sOO woi king
days in the year, gives, at the rate of £2 per message, an
annual income of £132,000. Practically, the proportion of
days and hours lost would in all probability be less than
is assumed in this estimate. •The working expenses of the
new line may be calculated to amount at the utmost to
£30,000 per annum.
The proposed cable will be laid in two sections—the first
from Brest, in France, to :the French island of St. Pierre,
off Newfoundland ; the second from St. Pierre either to
New York direct or io a point between Boston and New
York, with a special line to the last-named city.
The length of the cable is as follows:-
Ist section, from Brest to St. Pierre 2,323 miles.
2nd section, from St. Pierre to the United
States, about 722 „

3,047 miles.
To this length an amply sufficient amount of slack will
be added.

A contract has been entered into with the Telegraph
Construction and Maintenance Company to manufacture
and lay the cable for the sum of £920,000, of which
£BlO,OOO is payable in cash by agreed instalments during
the manufacture and shipment of the cable. The remain-
ing £llO,OOO will be payable in the following manner, viz.,
£60,000 in fully paid-up Shares, after the section from
Brest to St. Pierre shall have been laid and tested satis-
factorily for thirty successive days ; £lO,OOO in cash after
the section from St. Pierre to the United States shall have
been laid and tested for thirty days, and the final payment
of £20,000 in fully paid-up Shares after the entire cable
shall have been six months in satisfactory operation.
Allowing £lOO,OOO for the construction of the land lines,
engineers' charges, supervision, and all expenses up to the
opening of the line, and deducting the consideration here-
after stated to be given for the concession upon success,
there will remain a balance, by way of reserve, of £BO,OOO.
The Great Eastern will be employed in laying the deep
sea portion. Sir Samuel Canning with a competent staff
will ha re charge of the submersion of the cable. Sir James
Anderson will act on behalf of, and watch over, the in-
terests of the Company.
The cable is contracted to be shipped in June next, and
the line is expected to be open for traffic in the course of
next year.
The cable will be of the best construction, and generally
of the same description as those manufactured by the Tele-
graph Construction Company for the Atlantic and Anglo-
American Telegraph Companies. The cable will be pro-
tected by tar like the 1865 cable, and advantage has been
taken of all the experience since gained. In accordance
with the unanimous recommendation of the engineers and
electricians, the weight of copper in the conuctor has
been increased from 3001 b. to 4001 b. per, knot. By this
means greater rapidity of transmission is obtained.
In tracing the route a detour has been made to avoid the
risk of icebergs and anchorage on the banks of Newfound-
land. It is on these banks that all accidents to the exist-
ing cables have occurred.
Sir James Anderson has recorded his opinion that the
object thus sought for will be fully attained.
The Concessionaires, by an agreement dated 3d August,
1868, and scheduled to the Articles of Association, have
agreed to transfer to the Company their concession from
the Imperial Government of France, together with all
their rights under the concession from the State of New
York, and the benefit of the undermentioned agreements,
and to defray all expenses up to the registration of the
Company in consideration of 5,000 fully paid Shares, to
be allotted to them whenever the Cable shall have been
successfully laid, and shall have continued to work satis-
factorily for 30 days. They will also be entitled to receive
one-fifth part of the surplus net profits in each year, after
setting aside a reserve fund, equal to 5 per cent. of the net
profits, and after payment of a dividend of 10 per cent. to
the Shareholders. These contingent profits will, for con-
venience, be attached to a portion of the fully paid shares.
It will be seen from this that the Concessionaires look only
to the success of the undertaking for their remuneration,
and for the repayment of the expenses they have already
incurred.'
Copies of the Agreements and of the Memorandum and
Articles of Association, and of the Concessions, lie for in-
spection at the Offices of the Solicitors of the Company,
Messrs. Bischoff, Coxe, and Bompas, 19, Coleman-street.
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House, and at the Union Bank of London, Princes- street,
and their various branches.

COPIES OF REPORTS OF SIR JAMES ANDERSON,
SIR WILLIAM THOMSON, MESSRS. VARLEY,
CLARKE, FORDE, AND JENKIN.
London, 3d August, 1868.
Baron Emile d'Erlauger, Julius Reuter, Esq.
Dear Sirs,—With reference to the route projected for
the cable between Brest and America, I have recommended
it for the following reasons :
By keeping in the 500 fathom line upon Milne bank and
around the southern edge of the Grand bank there is no
possibility of ice, or of any other agency that can be sug-
gested, injuring the cable. The northern edge of the
Grand bank was avoided, because it is uncertain at what
depth the icebergs ground. They are said, upon good
authority, to ground at tim i es n 90 fathoms.
It is not certain at what depth the vessels employed in
the seal trade may sometimes choose to drop an anchor
for the purpose of keeping their station in the track of ice
floes.
These dangers are avoided by the track chosen for the
proposed cable, and I am justified by my own experience
in saying that the track from the southern edge of the
Grand bank to St. Pierre, and thence to the place of land-
ing in America, is entirely free from any danger from ice,
and does not cross any anchorage resorted to by the fleet
of fishing vessels.
The cable upon the Milne bank and from the Grand
bank to St. Pierre, and thence to America (upwards of
1,200 miles), will be laid in water of such easy depth that
repairs will bo a matter of certainty ; and we aro justified,
from the soundings which already exist, in affirming that

SCIENTIFIC AND ORNAMENTAL PRESENTS.
ORNAMENTS for the Drawing-room, Library,
and Dining-room, consisting of a new and elegant as-
sortment of VASES, Figures, Groups, Candlesticks, Obe-
lisks, Inkstands, beautiful inlaid Tables, Paper Weights,
&c., in Italian, Alabaster, Parian, Marble, Bronze, Derby-
shire Spar, &c. Imported and manufactured by JAMES
TENNANT, Mineralogist to her Majesty, 149, Strand,
W.C., London.
Mr. Tennant arranges elementary collections of ROCKS,
MINERALS, and FOSSILS to illustrate the new edition
of Lyell's Elements of Geology ; they will greatly facili-
tate the interesting: study of MINERALOGY and
GEOLOGY, and can be had at 2,5, 10, 20, 50, to 500
guineas each.
PRACTICAL INSTRUCTION in GEOLOGY and
MINERALOGY is given by Mr. TENNANT, F.G.S., at
149, Strand.

THE RESCUE SOCIETY'S HOMES
9.re as follows :
For Fallen Women.
28, Church-rovr, Hamp- 150, New Kent-road.
stead. 48, Church-street, Stoke
13, Camden-street, Camden- Newington.
town. Maize-hill Cottage, Green-
-205, Great Portland- street. wich.
For Young Girls in Danger.
27, Church-row, Hampstead.
9, Henstridge-villas, St. John s-wood.
St. Mary's Lodge, Buckhurst-hill.
Country Home—St. James's- street, Dover.
Temporary Home-85, Queen-street, Cheapside.
In addition to the above-named homes, the Committee
have under their charge three homes for servants of good
character, in which aro admitted about 1,000 friendless
servants annually.
The homo at Groat Portland-street is for young fallen
girls from 10 to 16. The committee ale deeply anxious to
open another house for this pitiable class.
The Society admitted to its homes last year 687 young
women and girls. It was compelled to refuse 524 appli-
cants, whose histories are recorded in the applicant's book.
The Society is under the presidency of the Earl of
Shaftesbury. Its bankers are Messrs. Barclay and Co.
The Committee very earnestly commend its work to the
benevolent. DANL. COMB, Sec.
85 Queen-street, Cheapside.

" PAINLESS DENTISTRY 1"
A NEW PAMPHLET, •
Free by post for four stamps.
NIESSRS. GA.BRIEL,
(Established 1815.)
London 56, Harley-street, Cavendish-square, W.
it
Liverpool 134, Duke-street, and
Brighton
ATTENDANCE DAILY.

PILICE 4d.
STAMPED . 53)

THE 11EIV AMERICAN AMBASSADOR.

(From the Anglo-American 2 inles.)

His Excellency the American Minister is now
due at St. James's, and will, we hope, immediately
take his place among the Representatives of
Foreign Powers. Knotty questions have still to be
unravelled, but an American Minister with the
capacity and experience of Mr. JOHNSON would find
little difficulty in settling these with a Lord
STANLEY if they were lefc simply to ground that
settlemont on equity, sound sense, and interna-
tional law. The obstructions lie in the people on
either side the Atlantic, and it is in their
prejudices and interests that both will find
the difficulties of the task. To a greater or lesser
extent these will continue to exist, and like a
farmer who seizes on fine weather to house his
crop, these statesmen should avail themselves of
lulls in national passions, hatred and malice, to
get such questions safely stowed away. The time
is propitious, and we desire to see the chief actor
on the stage. Contrasting the present with the
state of things which met his predecessor, Mr.
JOHNSON has every cause to congratulate himself.
CHARLES FRANCIS ADAMS left the States in dis-
ruption, to take his place in a society openly advo-
cating the severance. An ambassador moves in
the very class wherein the feeling most strongly
ran in favour of the South, and a good Union man
like the late Minister could scarcely fail to be
offended wherever -he went with the ostentatious
display, however unintentional as regards himself,
of sympathy with those who were trying to break
up the Union. Though the heart of the general
mass of the English people had a truer in-
stinct, yet the high rank of an ambassador
militated against his mixing in a society
which could scarcely fail to be more congenial.
Those alone who have lived in a circle in antago-
nism to the opinions with which they are imbued
can tell how disagreeable the contact is. It is a
perpetual state of irritation, a surrounding depres-
sion, something added to the hope deferred which
makes the heart sick. Mr. ADAMS had to witness
from this side the terrible struggle, which, to the
people here among whom be mixed, seemed so cer-
tain to end in Southern success. A man's faith
must be built on a rock to withstand the influence
accompanied by such adverse circumstances as
characterised the first years of the war. He had
to represent a country in the throes of a revolution,
at a Court little less than hostile to his Government.
But REVERDY JOHNSON enters the vacant place,
the representative almost of a Continent, of a
nation the world have learned to raspect from the
great physical power shown, an-I accredited to a
Court which desires, above all things, to con-
ciliate the young giant. As one of the leaders
in the Senate, as a great constitutional lawyer,
as a Conservative statesman, Mr. JOHNSON will be
welcomed. Many questions have to be settled ;
foremost among which is the subject of naturaliza-
tion and the claims left by the strife. There are
m mny others on both sides got up by the Fenians,
and more dangerous cases may yet be created by that
organization. But the time is propitious, and in
the present temper of both sections of the Anglo-
Saxon race we do not think it would be easy, how-
ever unscrupulous the acts of the Fenians to disturb
the harmony. One of the questions was discussed
by the Pall Mall Gazette last Thursday—the costume
in which the Aineriean Minister is to appear at
Court. IVe cannot complain of the sarcasm in this
instance, knowing the proneness of our contemL
porary thus to discuss most questions, and Con-
gress really deserves what it gets for making a fuss
on such a subject. To give point to its remarks,
the Pull Mall relates the following absurd story :
—" There was, for instance, the case of the
Minister at Paris SOM.; years ago, which is
often related iu American cireles. hl,l to be
presented to Louis PHILIPPE, and pondered much
what manner of costume he should wear. While
still distracted by the doubts of a girl who is pre-
paring for her first ball, he happc ied to see in a
tailor's shop a dress which seemed expressly made
for such an occasion. He had the presence of mind
to order it at once. The appointed day arrived,
and the Minister made his appearance before the
KING, clad in a uniform well calculated to surprise
the head of an almost ' effete monarchy.' But he
was amazed and disappointed to find that his
Majesty wore the dress of a simple citizen. ' If,'
said the Minister, I had known your Majesty was
going to be so plainly dressed I would not have put
on this'—pointing with a rueful air to his finery.
Sir,' replied Louis PHILIPPE, lam too happy
to think that there is any costume in France which
bas attracted your approbation. You have done
our field marshals much honour.' For it was as a
field marshal that he had paid his respects to theKiNG."
After describing what Mr. YEA3IA.N did at Copen-
hagen, what Mr. ALVIN P. HOVEY did at Peru, and
how he was made a Major-General, the Gazette
goes on to say—" There were other Ministers who
wisely threw themselves into the humour of Con-
gress with enthusiasm. Mr. HALE, statioaied at
Madrid, wrote a glowing account to Mr. Seward of
the elegant appearance he had made before the
QUEEN, dressed as an American gentleman should
be, and not ' decked out with the silly parapher-
nalia common in Europe.' There, ' the lacquey of
the palace will, as a matter of course, be more gor-
geously dressed than himself.' Is not that the case
also when the American gentleman goes dressed in
plain clothes ?" Of course, General BUTLER could
li not expect to escape scot free when Americans are
discussed. The Gazette says :—" That hero might
have shown his contempt for the despots of the old
world by arraying himself in a drapery of the flag of
his country, or in a suit of trappings made of the
scalps of his slaughtered foes. But Gen. BUTLER
is not coming. We are to have a simple gentle-
man instead, and we have no doubt that he might
go to Court in a shooting-coat if Congress decided
that such attire was necessary to show the world
that America is a free and independent nation."
The public will wait with curiosity for the appear-
ance of the American Minister at Court, and as
Mr. JOHNSON'S portly figure will require ample
cloth, and give scope for braiding,, Congress has a
good block on which to try the new costume. It is,
however, a gratifying sign when such questions
obtain prominence, for the less a Minister has to do
the better. We hourly hope to hear of his Excel-
lency's arrival, though we fear London in its ex-
tremity of dullness, as at present, will not prove a
lively city for several weeks to come.

A CRAB FACTORY.—A gentleman at Annapolis,
Maryland, fenced in a cove near the mouth of the Severn
river, and commenced the cultivation of crabs on a large
scale. He has put in aboat 4,000 and feeds them on a
coarse fish and any kind of refuse meat. A squad of them
will attack a catfish and devour it in one night, picking
the bones as clean as a pack of wolves pick a deer. The
soft crab is only the hard crab with his coat or shell off.
Before shedding his shell he is worth only half a cent in
the market ; without it he is worth a dime. He sheds his
hard shell but once a year, and then remains a soft c►ab
but a few hours, when a new shell is again formed. But
few soft crabs are seen, owing to the difficulty
of finding and capturing them in the " nick
of time." This difficulty it is proposed to obviate
by the hording process, whore the stack can
be examined every day, and as fast as a crab is found
with his coat off, he is caught as a soft crab and mirkoted
accordingly. The location of the crab pasture is at a point
where the tide regularly ebbs and flows, giving the crabs
a plentiful supply of their natural element.
WORTHY TIIE CIRCU3ILOCUTION OFFICE.—A doc-
tor who went to settle in a village out West, on the first
night of his arrival was summoned to attend a sick child.
He looked at the lit tlesufferer very attentively, and then do-
livered this oracular opinion :—" This byar babe's got the
smallpox, and I ain't posted up to postules. Wo must
approach this case by circular treatment. You give the
little cus this draught. That'll send him into fits. Then
send for me. I'm a stunner on fits."

The editor of an Eastern paper says:--" We
have adopted the eight-hour system in this office. We
commence work at eight o'clock in the morning, and close
at eight in the evening."