New-York daily tribune., 1857-10-03

rsisry e. much e. rcssbie 81 the &c susnergef osb's
ard ,ke vcrh is 10 be immediately ccmmsace1-
In oide- 70 soufm the vsrcSs ss'.sfs. cryrepofts
&. n III engineers ind c.hors cnsaeec in he eI'e!-
Tr.e which have been aire.dy polish e, he Direct:
OTs of tie Company recently coLlmiss ored tree o'
the mos: eminent engineers in Engand sTeiy' Ar:
Penn Of the frrn of John Penr 4 SON. Mr.. tle:d, "s
MsadsIey, Son & Field; and M: Lloyd; che nt eng
Admiralty, 10 Mske thorough eIs'n'nsH,n
cf the csble ard all tie appliances Boz
sAbmorgre it, and TO report the result with stcn rec
omner rds.iors for future guidance a. they nis &c
sdyitabe. These gentlemen, in company With h
Eyere,, The CHE. Er gneer of 'he NiaS.rs, per Jed
the duty entrusted 10 them in tbe most thorough hsp
ner, ard came 10 TIE unanimous concInsi'n tah'; VIZ
with tie substitution OF Rs'.nt 'el,s ts avn,
out can be broken for that previous used aai - he
modification in the psying.out machinery mere - 10
ason 20 doubt that the next attempt 10 isy t'e c"oe
will be crowned with triumphant succes'. ~,
AIcther ircidert has s.o served fc stfenS Zen stl
further The increased confidence which this repor'
naturally established in the minds OF the Directors
large engineering iira Of high ft"f dins ana
wealth hsve expressed their readiness To an ierake !"
lay the cable on the following conditions Inaf, for
stated price they will, with the aid OF Governmen nt
vessels take eli the trouble and risk out OF the
hands Of tine Company, and have the cable laid nom
Ireland TO Newfoundland by June or July next; or,
but win pay to the Company the entire cost OF the
cable. In the event cable being laid before June
the stipulated price t5 be increased at much per
N nonh for each month gained. IL is understood tnat
this offer is bbAQ Gde one and that the firm IN ques
ton stand ready TO furnish undoubted security for the
performance of the undertaking.
In regard to the report that telegraphc connunca-
ton between the Niagara AID the shore was suspend
ed for several hours prior TO the breaking of ne cable
we have al authoritative contradiction. II seems that
for short time the evening befole the accident the
operators at the shore end OF the line thought II uhne
ctssary having nothing 70 say t. send any mssageto
.tly M ~
patches from il, hence the impression prevailed on
board ths the line had ceased to work; whereas 8
subse quent comparison of the records kept or shore
and on the ship showed concusvely that the insu'a
,cn was quite perfect until the cable broke
Nothing further had been done in regard 10 tine sale
of the cable for the projected telegrsphc line to India
the Indian Company not being prepared az YET with
the necessary funds to 90 on with the negotiation.
TIE Atlantic Company would certainly not part with
the cable unless they could contract for the delivery
of another in the Spring.
The panic in NewYork had most conclusivey
demonstrated 10 many the necessity for the competitor
of the Transatlantic telegraph and the following Well
authenticated cdote apty illustrates this necessity
AT dinner-party in London, one Of the Oldest mer
chants in the city whose business connections with
the United States are on an extensive scale expressed
that the Atlantic Telegraph would not be
advantageous to the commercial community,
giving utterance at the same time to sundry
other old fogy sentiments in reference to the enter
prise of the age. The Director endeavored bat failed
TO convince the merchant that he in error. Afe@
days afterward, however the Canada having arrived
in the interim with account of the financial disaster
in New.York, the same parties met, and the merchant
had 80 completely chSnged his mind that he declared
his readiness to give any amount of money II tele-
graphic communication could be at once opened Win
the States having as he confessed accepted bills to
the extent of e2 600 account Of large institution
which had previously to the date Of acceptance sus
pended payment and which, of course, he would not
have done had the telegraph been in operation, "a he
would have had instant advices of the failure.