The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-08-06


the age and perhaps the greatest event of any other age
the nyng of the great Atlantic cable Most people were
10 thoroughly taken by surprise that they startled
and could not realize the fast after the despatch
from Mr.. Field known; others exclaimed that they
were successfully disappointed, and had small doubt OF
The complete OF the whole enterprise and every
seemed to DO elAtedqui.e ~ much a. ossbIe
70 be under any circumstances. Many of opinion
that something should be Immediately done by the city
authorities, and went 80 far as To sugges, to
the Mayor that public demonstration should be made
without delay. His Honor however, Of opinion that
It yet too to make any public demonstration Of
rejoi,ng the Agsmemnon had not yet arrived of the
Irish coast It was argued that the complete SUCCESS
which attended the Niagara and the laying Of the cable
this side OF the Atlantic sufficient why
something unequal should be done; but Mayor nemann
still held in favor Of his own views, alleging that the in
teigence IS was then received did not warrant any
officially public display Of rejoicing. Alderman Adams
in favor Of having meeting Of the Common oounci
called nsAnter but After some deliberston IL wa, con-
sidered that any action they would take might b. prems
ture and, consequently, nothing Was DONE During The
tinued 70 spread far and vide beyond the city limits
the SUCCESS Of the Atlantic telegraph enterprise vss the
nrst Last and universally absorbing topic which engaged
he attention and commanded the admiration OF every one,
in every situation, till this morning dawned
THS NEWS AMONG THE MERCHANTS ON CHANGE.
The nows sen. the telegraph line yesterday from
Newtord lspd announcing the successful laying Of the
telegraph cable The atlantic oSean, produced great
excitement and conversation among the merchants both
on the Corn Exchange and Merchanis Exchange in
Wall street
From the failures OF previous attempts they pretty
much given up all idea Of s success, and hence ths
came upon them q most sudden and unexpected man
spread like lightning from to another, and in
deed, had in a few hours spread ever the city.
,rtho or
and catechised reporters connected with the press
about 1t. Some, who had been doubling its success
from the first, said, admitting all Mr.. Field had
said 10 be true, IL was not conclusive Of SUCCESS.
Others, again, gave their opinion that II ii even
worked the start would fail to transmit regular
messages, or stop altogether Again. the question was
asked, where was the AgamemnoDS' "In shallow wa
Of the coast Of Ireland" said Another said thst
abe had reached within seventy miles OF the land and
was progressing, with favorable wind. The whole in
erest seemed become conferred In the wish w hear
from the Agamemnon.
The effect Of the telegraph successful, upon CONNER
cial affairs was discussed. Some said that IL would
prove luxurious, because before they could GIL orders
from the other side they would be, in many cases,
speedily countermsnded Others again, considered that
messages would, at five dollars word, prove very ex
peusve merchants, that only wealthy houses could
Jake advantage of IL to get early news.
Qualification was, however, expressed thd the Amer
can frgate Niagara had performed her part well
To test the utility OF the telegraph successful
| ly worked, will require some experience.
The te!egraphs between New York and distaut COM
mercal points the interior not only failed 70 in
jure business, but, as were, have given new wingsto
commercial pursuits Immense transactions made al
VAT saving OF time Flour and gram are sold in New
York by telegraph TO before they leave Chicago,
huff III nd nj ~ tha
| the owners telsgraphed TO draw for It, BY the
slme process a cargo Of cotton tic way from New Or
leans or Mobile Liverpool is sold trs1stu
or three tines before IL reaches ITS destination. The
owner IN me ars. ns'apes rs' Ling may De- Nss
h cotton has been sold o. IL cents per To-, with freight
at I'd, which may net him &c &c: per 10 profit de
Immediately draws NJ signG dis factor In NeS York,
cashes the b pockets h gains aud Is ready torn
his money AGAIN All THIS is the work OF few days
or hours which before consumed months OF tne
The system will extend by telegraph all
the civilized world me head OF large airy goods house
ip New York may Hnd his STOCK silly goods
exhausted He sends his despatch 70 Lyons and two
weeks sixteen or eighteen days, ne receives them oy
| steamer. This would De ono case OF thousand
The deasrs in domestic and foreign bills of exchsuge
compelled resort aims daily 10 the Telegraph.
This nJw oonstxItly done betseen this city AMI Ne~
Orleans well with uterine late places su cess
fully lad 10 Europe they also be compelled cost
what il WILL tn communicate daily WITH their houses In
the principal cities Of Europe.
No wonder thar when such vast commercial and hnan-
chl Interests 10 be Affected by the successful laying OF
the Atlantic CABLE that the news Of lis successful accom-
plshmen should have produced unusual excitement and
conversation among our merchants ana bankers. Up 70
the close OF Change, however, doubts and hopes were
noary equally divided Some OF those whose faith had
been strong lead them 70 make bets with those
who had dsbeeved In the possible Of the enter
pse began count up their outstanding wagers and get
ready claim them favorable result Many VINO I'd
ardeny desired the OF the undertaking had yet
| been led 20 make small bets against it, success.
After Change hours had passed, many persons called at
the editorial rooms OF the newspaper offices 70 ASCERTAIN,
possible whether the Agamemnon bad landed her end OF
l the cable
The Also produced considerable excitement aud
discussion the Board OF Stock Exchange brokers' Per-
Of all pursuits aud all shades OF opuisn seemed 70
agree upon point and that the enterprise proved
successful would be the event Of the nineteenth century