New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-06-22
THE ATLANTIC TELEGRAPH.


The extraordinary general meeting of the Atlantic
T.l.oraoh Company w=s Leld in London, pursuan. TO
call on the Sh inst. The Right Hon. ). y Wortey,
the Chairman Of the Company, presided, and, after
.he reading of the Directors report the particulars OF
which have already been published he exp aned the
preseut position and prospects, Of the Company. lie
stated that they had obtained the best terms 'hsy
c,uld from Government. but thought that IN we" o.
the national import Of the undertaking. the sup.
port vouchsafed by Government far from liberal:
All Is 70 obtain UNCONDITIONAL guaranty ha1
tailed md the condition imposed II order 70 obi am the
guaranteed eight per cent on the EoOO OD OF capltai
TO be raited that the cable should be worked tor
thirty days consecu,vey at the rate of hundred
woIds Der hOuI-he test OF the working condition 10
lie the same either for the old or the new cable MI.
WOrey stated that II they succeeded, he had reason
to believe the American Government would increase
their subsidy 10 I2GDIO per 6nnum lie Thought
that the most equitable way TO carry out the under
takrg was TO allow egh. per cent the new prefer
elce capital % 1850 000 then TO allow four per cent
OF the old capital and, should any surplus prons re-
plhin 10 divide them rStaby between the old ana new
shares. He concluded by moving the aiopuoh % '"c
report.
Pref Thcmpsop, in second:rg the motion, expressed
the utmost confidence IN the o the undeftak-
ltg ard in the possibility of transmitting words more
rapidly than specified in the contract.
An snebdIp. nj was proposed 10 the effect thst, IN
the absence Of full information as 20 the rights ct the
Company on the North American coast the meeting
he aGiourped ut.ii the 12d inst. 4 debate ensued.
III. u
that be represented the York, Newfoundland aud
L,ndon Telegraph Company, who mad obtained 10
1854 the Pit of landing AMI maintaining cables OF
the coas: Of British Moth America. They had done
everything they could 70 aid the Atlantic Telegraph
Company ard had extended the time for IL months to
com e,e their cable, and subsequently for two years
10 come.
The amendment was rejected by a large majority,
and the roper. WIS adopted unanimously.
The Direction, requested ~ remain IN Office, ana
net 10 resign, Is they had proposed MI DaSle.sh,
~ p was added to the Directors. The number o.
Directors WAS reduced 20 H. and there beng but IN
Office tie Board was authorized TO I'LL up the yacan-
cies when convenient
The Directors authorized To carry ont the
acIeemeLt entered into with the Government, and q
Ioma resolution passed authorizing the raising OF
G6OO OC0 erence shares Of to each, on the terms
above recommended by the Chairman.
The meeting passed IF in the best manner, and the
Directors wer confident Of being able to get al the
money they require 10 have manufactured and laid q
new cable If the best kind The prospects OF the Com
psny were believed 10 be improving daily.
TIE Red Sea Gable successfully laid to Alden on
the .Stf of May.
The Br,i.h Channel feet was TO anchor at SpiLhesi
on the 24th june and by additions TO that date would
comprise 30 Notwithstanding 10 sail OF the hoe.
Tie remaIus Of Sir Thomas Plcfon, at waterloo
memory, had been removed to st. Pauls Catheora''
The ship southampton, Capt. Anderson, from Lon
don for New York, into aud sunk ID Tue t'hg,,sh
channel the Norwegian schooner Emmanuel. The
crew of The schooner succeeded in getting board the
southampton. which sustained no damage.
A dispatch from Malta announces that the Candia
.4legrsutic cable broke and was lost on the lst Of
June, SIXTY miles from Cape Sdero.