The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-11
The Transatlantic T'oiegf~ph.
70 THE EDITOR OF THE HERALD.

dent Of this Cont
The Transatlantic Toiegf~ph.
70 THE EDITOR OF THE HERALD.
METROPOLITAN HcrEr, March 10, 1866.
see from IN editor..l IN Sundays HERALD tha.
yca in regard 70 the ranfatant, Telegraph, and
that You connect it with the Ne. York, Newfoundlsn
and London Telegraph Company represented by Messrs
Peter Cooper, Cyrus W. Field, and others.
The present Newfoundland Telegraph Company ia the
Of the crg,na Newfoundland Electric Tele
grsph Company, gotten up BY Mr.. Horace B. Tebbes, In
1862 This line partly constructed by the o:tgina
company. In tho spring Of 1854 the present New YORK;
Nswour dlsnd and London Telegraph Company char
tered in Newfoundland and succeeded the original
pany by purchase Of the lire completed fixtures pro
psrty, &c.
For seine Eve years my effort, have been directed to
the subject OF Atlantic telegraph. In 1S54-5, at
great serse, vsite Europe, having in view the fur
thesnce Of the enterpriso succeeded in getting
cessiops from Denmark, Norway, Sweden and Russia
in November, 1854, an associated company was made
by i'll Paris, under the Of the rcansatantic
Telegraph Company, in which Aessrs. j. w. Brett and
C. D. -irchitad, OF London became ny sole associates in
Europe Neither Of these gentlemen brought into the
sociaon any grants meney. Ny object in connecting
With them elevated consideration for the gentle
rep, notwithstanding it was q sacrifice to me.
After my return to An erica, negotiated, early IN
1856 With the New York Ne sfoundland and L ndon re
was ssed G sealed ~ Peter oaope as Free
sident c the ssid New York, Newtound nd aud Lond
Telegraph Company and BY me- a. era@ Of the Trans
antia 1eieg apk aforesaid America This contract
was Afterwards eaed also by John ". BEET the snl,
.sran: for Europe. These papers signed BY Mr.
Cox per aud myself az the residence Of Mr Cyrug W
Field. The contract has been respected In good fsita b.
It oblisates the Ttanssran.i, Telegraph AID tas
New York newfoundland AID London Telegraph to unta
in business 1elaticEf and vesting In the Transatlantic
eeg lph the monopoly Of landing Aan, cable, hello
by the Nc vic ndIana Company Such Is the substance
nv
companies. ! have reipquished my rights
under tbee contrscts mo- i, IT my purpose to do
The management Of he two companies indepen ent
OF each her
have inter fcrei with the New York. Ne Wound
rary, have aided it. have the evidence that the money
about s25 o00) procured from john W. Brett Of Lon
IL eaf Of loss No. Brett ms1 hSd Se
Dound TO share it vita him Iy arguments to Mr. BEET
we're; that the capital stock Of the Newfoundland
pary would be 81 oOO that the government of New
oundland would endorfe for the interest $3.50 900
the bonds Of the company, as the work progressed AND
the sale Of the bonds would bring money enough to
nish the teegrap and bride path per charter and
that $50 COO Of the stock supposed to BE- sufficient
to pay on the tcneholaers the old company, as con
sde sn for the money they had invested in the osg
pal company. These items would leave balance Of
1Co 600 to be divided between eight ten per-
b dir der the charter, after setting aside
$685. OF tock peces OF coiateras TO- the bon5s
By this srrana nen Asssrs. Peter Cooper. Cyrus W.
Field, W. Brett and others would get back Their money
temporary ad.snced TO the compsny and, besides,
have about 90 o00 OF stock, each without having
penCe5 dollar for otherwEe temporary
en With The losses sustained the cost Of the
line viii BE than estimated With lire across
the ocean as contemplated by the contract of
ton in the transmission Of eespaches &c. between The
Newfoundland and the Transatlantic telegraphs sgnea
by Mr.. Peter Cooper and myself the stock Of the Nes
There is pending sefcre the Legislature OF New York
At Albany, charter for a company, under the
OF the Transatlantic Telegraph" This company
net OF my getting up, have any understanding
contract with the directors Of tina. company Whether
or not they viii unite with me, carnot say The sub
Hath 7oo,. hatv
or indirect. They win be under Obligation to me, md
presume they will pursue such course AS will sao
My opinions to the impossibty Of operating tee-
graph line direct across the ocean be wrong think
the opy enc s Sea as IN is
may secure the working Of line as long as from New
ioundand to LELAND, and If the discoveries may
make 1t practical t. work lire fom Sandy Hook To any
oher part Of Europe. If this should bs the caso all the
money EXPENDED by sc and friends for the European
concessions will be lost also the Newfoundland ae
will he worthless These risks have to run aud II is
fair 70 calculate upon gains commensurate herewith in
You vii perceive, Mr. Editor the existencs Of the fol-
l. That the Now York, Newfoundland and London Tsle-
gspr Company ntee by Mr. Peter Cooper Cyrus
Field and Others is not the rransatanti, Telegraph
Company.
q The rrsnsstan,rc Telegraph was created by me IN
Paris IN 1854, based upon the Danish, Norwegian and
sxedish grants.
g. That as Sole 9erant Tor anager for America of the
Cooper the President Of the New York Newfoundland
and London Telegraph contract for recproc, business
relations, by which the exclusive privileges 70 land
cable in Newfoundland became vested in the Trausaan
ric Telegraph represented by me.
That In my opinion telegraph line cannot be work
ed direct the until discoveries are made
In science TO overcome the difficulties.
That in it should prove feasible to work tele
graph direct the Atlantic Sandy Hook would be
practical point from which to start q cable.
g. That have nothing to do with the present proposed
Transatlantic Telegraph applying for charter to the
legislature, win the company be under any obga-
tons to me- either direct Indirect that this com
pany viii DO free to start from Sandy Hook from any
other point.
With the hope that the efforts Of all friends of the en-
terpIie may be successful in the accomplishment of
good, beg the honor OF subscribing myself
TAI. r. sHAFFyFR