The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-06

length the operations Of the military but there nothing
Of striking importance additional TO the already
autographed
Tantia Topee and his followers were making towards
Guzerat, where feared they might do mischief
An extraordinary meeting Of this company held at
the London Tavern, on the 18th Of December the Right
Hon. Stuart Wortley NJ p. in the chair.
MI SAwARD, the Secretary read the report which
stated that the present position Of the companys affairs
and the unsatisfactory state Of the cable had determined
Board call the shareholders together By the SUBJ
scrpon among the existing shareholders Of f37 $780, in
shares Of eco each the directors enabled to order
400 miles Of cable by which its length increased
1858 miles. The capital account shows that 1887 479
had been received The share account shows that free
shares 10 the value Of s7 600 have been issued 10 the
projectors in purchase Of the release Of their original
rights and privileges On the other side Of the account
the cable had cost E324 the engineering department
f2O 399 the electrical department f15,71 and the
farys department f3 7e3-maSng total expenditure OF
3S4 04e The total expenditure to the Both of November
379 029 and the balance hand TO IS 449
against which there are various liabilities outstanding.
The then proceeded nj great length and In the
most lucid manner TO detail the presen, position Of the
recommended the proprieors 10 adopt reference 10 the
future proceedings Of the company lie said the directors
had been most anxious TO have the opportunity OF
quainng the shareholders as TO the real position which
the company now stood Their condition, financially
speak ing, certainly not upon which he could
graduate them but the other hand there
stan surrounding the undertaking which justified him
IN stating that If the board were supported by the gene
prospect OF even greater success than contem-
plated at the beginning Of this great undertaking. 1t
true that there was at present amount OF funds
IN the hands Of the directors 10 enable them carry
this great project in fact since his connection
with the Board, their bands had been tied for want
Of funds with which TO undertake any great opera.
ton; and from the same cause the proceedings With
view 10 recusitae, If possible the present cable, had
been suspended The operation Of undermining the
bic, which had been performed by Captain Ke 10 the
ent Of eleven miles from the west coast Of ireland, had
demonstrated that the injury to the cable by attraction
nj "a nc
osed and the directors unable from Of funds
10 undertake further operations to ascertain where the in
Jury exsted Under these circumstances IL was thought
by the directors that the best plan for them adopt
10 appear 10 the shareholders TO obtain their sanction TO
the course they had taken asking for the assistance Of
capital which II was proposed 10 for the construction
and laying or another cable, and without which
assistance he felt II would be useless 20 attemft
10 raise the money. In fact, he knew OF no
other open TO them than 10 to place them
selves upon similar footing with the government 10 that
which bad been obtained by the Red Sea Telegraph Com
pany He could state that the opinion OF the rrea,
body OF persons, scientific and practical who gy
their attention 10 the sub cct that the prospects OF The
company were infinitely encouraging than at
any previous period Of it's existence The operations Of
this company had clearly demonstrate that electric con
nccton between the two great continents was possible
The great scientific problem had been solved that electric
could be transmitted through 500 miles OF sub
maine cable Professor Faraday Professor owen Pro.
tcssor Wbeatsone, and other scientific gentlemen had
placed upon record their opinion 10 the perfect pract
cablty Of the project and IN addition the memorials
which had emanatcd from the great mercantile aud com
Eoercal bodies Of tie country the great professors OF
science had given their important aid BY add ng memorial
from themselves urging toe supporter government %
shsgre national enterprise He tben acsor bed the m