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

ABRIDGED PROSPECTUS.

The oiled ofythe 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 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 promised its 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 new undertaking will create fresh traffic, inde-
pendent of that of the old companies, sufficient to insure
earningA of equal if not greater amount.
It will be the object of the now 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 rate 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 twAve words per minute, which, allow-
ing 14 hours a-duy for waste time, and consequently only
ten hours a-day fur actwil work, and taking 000 working
days in the year, gives, at the rate of £2 per message, au
annual income of £432,000. Practically, the proportion of
days and hours lest 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 isl,tud 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 last-named city.
The length of the table is as follows:

Ist scam, front Brest to St. Pierre
2nd section, from St. Pierre to the United
Statts, about 722 „

3,047 miles.
To this length an amply suflUent amount of slack will
bo adled.

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
£310,000 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 alter
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 montus 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 iu 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 ba 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 1863 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 300 lb. to 4001 b. per lad. 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 Franca, together with all
their rights under the concession from the State of New
York, and the benefit of the undermentioned agreement;
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 cont. 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.
Prospectuses and Forms of Application for Shares may
bo 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 JENKIN.
London, 3d August, 1868.
Baron Emile d'Erlar.ger, 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 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 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 ico,
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 be a matter of certainty ; and we are justified,
from the Ovundings which already exist, iA giftruling teat

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THE RESCUE SOCIETY'S HOMES
F‘rore as
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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 throe homes for servants of good
character, in which are admitted about 1,000 friendless
servants annually.
The home at Great 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
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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 au American Minister with the
capacity and experience of Mr. Jo:lssoN would find
ittic difficulty in settling these with a Lord
STANLEY if they were lei; simply to ground that
settle:ll,lA on erptity, sound reuse, and intern t-
tional law. The obstructions lie in the people on
either side the Atlantic, and it is in their
prejudices and interests that both will fiud
the difficulties of the task. To a greater or lesser
extent these will continue to exist, and like a
fanner who seizes on fine weather to hou:e his
crop, these statssinen should avail themselves of
lulls in national passions, . hatred and malice, to
get such questions safely stowel 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.
CIIAIILES FRANCIS ADAMS left the States in dis-
ruption, to take his place in a- society openly advo-
eating 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
offendtd 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 he 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 Jollsssost enters the vacant place,
the representative almost of a Continent, of a
nation the world have learned to respect from the
great physical power shown, and 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
many others on both sidess 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 American• Minister is to appear at
Court. We cannot complain of the sarcasm in this
instance, knowing the proneness of our contem-
porary thus to discuss most questions, and. Con-
gress really deserves what it gets for making a fuss
on such a subject. To give paint to its remarks,
the Pall Hall relates the following absurd story :
--" There was, for just-a:see, the case of. the
Minister at Paris same years ago, which is
often related in American circles. Ile hal to be
presented to Louis PuturrE, and pondered much
what manner of costu:nc he should wear. IThile
still distracted by th,:-? doubts of a girl who is pre-
paring for her first ball, he happened to see in a
tailor's shop a dress which seamed expressly in.t le
for such an occasion. Ile had the presence of mind
to order it at once. The appOinted day arrived,
and the Minister nude his appearance before the
KING, clad in a uniform well calculated to surprise
the head of an tamest ' 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 Majt sty 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
has 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 thelissiG."
After describing what Mr. YEAMAN did at Copen-
hagen, what Mr. ALVIN P. HOVEY did at Peru, and
bow 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, stationed 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 Atnei ican gentleman goes dressed in
plain clothes ?" Of course, General BUTLER could
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 Gets. 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."
Tile 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 iu 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 largo
scale. Ile has put in about 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 banes 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 dimo. Ile sheds his
hard shell but once a year, and then remains a soft crab
but a few hours, when a new shell is again formed. But
few soft crabs are seen, owing to the difficulty
of finding and papturing them in the " nick
of time." This difficulty it is proposed to obviate
by the herding process, where the stack can
be examined every day; and as fast as a crab is found
with his coat off, ho is caught as a soft crab and marketed
accordingly. The location of the crab pasture is at a poiut
whore the tide regularly ebbs and flows, giving the crabs
a plentiful .supply of their natural clement.
WORTHY THE CIRCUMLOCUTION 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.
Ile looked at the little sufferer very attentively, and then de-
livered this oracular opinion :---" This hyar babe's got the
smallpox, and I ain't posted up to postules. We 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. Wo
commence work at eight o'clock in the morning, and close
at eight iii tlat) crolairs."

"Supposing the present state of things to be changed,
some of us have thought of two alternative expedients.
The one would be to substitute for subscription to the
Thirty-nine Articles an acknowledgment of the faith ac-
cording to the Nicene Creed. This would admit to all the
privileges and the fellowships of the university any mem-
bers of Dissenting bodies who hold the common creed of
Christendom, such as you hold, and such as, at least, the
Particular Baptists and the Independents hold all
Dissenters, in fact, who have not lapsed into Socinianism.
The other plan which has been publicly advocated by Mr.
Liddon and myself would, I should think, be more accept-
able to the religious Dissenting bodies—viz., that we should
each teach according to our own belief until God bring us
to one mind, and that out of the funds of the college pro-
vision should be made for those Dissenting bodies who
wish to be represented in the university. In a word,
that new colleges should be founded out of the revenues
of the old ones for the different bodies who hold the
faith in our Lord Jesus Christ. Better, indeed, even to
decide that Socinianism should be endowed than to allow
that all colleges should become Socinian, sceptical, deistic,
athicstic.

" Either of these ways would be religious ways, and how-
ever unacceptable such plans might be to the Liberals at
Oxford—because they both of them presuppose the con-
tinued recognition of a definite faith—they would, I am
sure, be to the vast majority of the members of the
university far preferable to Mr. Coleridge's bill, which
would intrust the education of our youth to (as it may be)
deist or atheist.

"Tor ourselves, I have always observed that proximity
and intercourse lead to a better understanding, and that
the only hopeless alienation comes from absolute sever-
ance.

"Allow me to commend this subject to your considera-
tion and your prayers, and forgive me if I also beg you to
pray, as we do, that all these unhappy breaches may be
healed, and we may be all one fold, under one shepherd.
If we pray, God will hear us in His own way.
" Yours, very faithfully, in Christ Jesus,
"E. B. Puny."

In the discussion which followed the reading of the
letter Dr. Waddy objected that Dr. Posey had no locus
standi in the Conference; thought they had better take no
official notice of the letter, and moved the order of the
day.—Mr. crest sympathised with what Dr. Waddy had
said ; there v al an idea in the letter which he did not
like, and they were not to be caught by the golden bait.
—Mr. Arthur said they would, of course, chew Dr. Posey
every respectful courtesy, but other letters had been
received by that Conference from persons qUite as honour-
able as Dr. Tusey. Some said the universities must
be national, and not denominational ; but Dr.
Posey seemed to think that such a change would
lead to pantheism. No wonder he thought eo,
for Socinianism must get the better of mere forms and
ceremonies ; but Meth4,dism, he believed, had nothing to
fear from Puseyisra or anything else, and all they asked
for themselves was fair play and no favour. The Bishop
of Oxford had established a small college of his own
where young men spent some time in preparing for the
ministry after they had finished their university course,
and did not that establishment recognise the fact that the
Church had work to do apart from the university ?
He hoped the Committee of Privileges would not
allow themselves to be played upon by any extraneous
influences so as to prevent them from availing themselves
of openings in the nation.—Dr. Rigg said the letter proved
the party of exclusiveness to be in extrentis with regard to
the universities. He did not take the letter as any great
compliment to the Wesleyans. He (Dr. Iligg) would be
no party to endowing colleges of all denominations what-
ever might be their respective creeds.—Mr. Shaw sug-
gested that a respectful acknowledgment of Dr. Pusey's
letter should be sent to Lim, and that he should be in-
formed that his letter had been read to the Conference.—
Mr. Arthur sustained Mr. Shaw ; and, finally, it was
agreed that the ex• President should acknowledge Dr.
Pusey's letter, as it had been originally addressed to him.

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