The Sun.
London, England, 1868-08-20 00:00:00

ABRIDGED PROSPECTUS.

The oiled 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; 9f Paris, and Mr. Julius
Reuter, of London.
This concession bears date 6th July, 1868, and confers
the privilege of laying,and working 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 promisedits support and
assistance to the undertaking, 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-
ing the extraordinary increase of telegraphic messages
wherever new facilities are afforded, it is to be expected
that the uew 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 willsecure 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 rato the lino 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 time, and consequently only
ten hours a-day for actual work, and taking 300 working
days in the year, gives, at the rate of £2 per message, an
annual income of £432,000. 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 to a point between Boston and New
York, with a special line to the lastrnamed city.
The length of the cable is as follows:-
Ist section, from Brest to St. Pierre 2,325 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.,
£BO,OOO 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 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 conductor has
been increased from 3001 b. to 4001 b. por 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 adividend 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 th?,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.
Prospectuses and Forms of Application for Shares may
be obtained at the Offices of the Company, Bartholomew
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 JENK IN.
London, 3d August, 1868.
Baron Emile d'Erlanger, 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 auy 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 times in 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 tho 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 Milno bank and from tho Grand
bank to St. Pierre, and thence to America (upwards of
1,200 miles), will bo laid in water of such easy depth that
repairs will be a matter of certainty ; and we are justified,
from 1419 gotuidiDge which already jia {again that

NATIONAL ORPHAN HOME, Ham-common,
Richmond, Surrey. Founded 1849. Enlarged 1861.
Under the patronage of H.R.U. the Duke of CAMBRIDGE, 8.G.,
whereby a home has been afforded for 280 Destitute Orphan
Girls of all ages, classes, and denominations, from all parts of
the kingdom.
The object of the Charity is to give orphan girls a plain Eng-
lish education, and practical instruction in the kitchen, house,
and laundry, to fit them for domestic service; and, if not other
wise provided for when they attain 15 years of age, to obtain
suitable situations for them.
The Committee esrnostly appeal for support. The Charity is
entirely sustained by donations and subscriptions.
HENRY KINGBCOTE, Treasurer.
W Q. WARWICK Secretary.

Once, 121, Pall-mall, S W

THE RESCUE SOCIETY'S HOMES
are as follows :
For Fallen Women.
28, Church-row, 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, Renstridge-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.
Tho home at Groat Portland-street is for young fallen
girls from 10 to 16. The committee aie 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's Report (of which a contributor writes, "I
never read a report of any charitable institution which so
entirely commended itself to my mind and awoke ray
sympathy") may be had on application.
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. MPER, On,
_

Qinopside.