The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-08-07

,h Atlantic Ocean In 1858 the enterprise projected
by small company of American capitalists in Now York
CITY In face all the objections that were urged against
a thew persevered with determination that proof
against all discourag ament. 1t supposed by
that the laying a able the bed OF the Atlantic
was an utter mpossbiity, and that any attempt must
end IN discontinue and disastrous pecunay loss those
who should engage in the attempt But the New York,
Newfoundland and London Telegraph Company was COM
posed OF who be deferred by such Fears
md being convinced of the practicablity of tho
undertaking. they entered upon it with will and an
earnestness that obstacles could overcome They
contonded that if it possible lay submarine
telegraph between England and France with proper
means and facilities the could he done btween
America and Europe and those means and facilities they
asserted were at their disposal The task which they
attempted was, 1t must be confessed, stupcndous
The company consisted of the following gentlemen
all OF whom had been connected with the enterprise
from its interpretations
OFFICERS or THE TELEGRAPH COMPANY.
PRESIDENT .......................Pe Peter Cooper
VICE President. Cyrus w. Field
IisEAsU'Ek, ......-..-. Moses Taylor:
n HcIElciAN. samuel r. b. Morsc
Moses Taylor
Wilson G. Hunt
CYRUS W. Field
Marshall 0. Roberts.
pn1se gentlemen IN 1854, obtained charter from
he colonial government Of Newfoundland, granting
them ;he exclusive privilege for fifty years OF running
a
the adjacent waters They also obtained an approprla-
ton of twenty ave thousand dollars for the construction
OF bride path the southern portion OF tho country,
which was considered indispensable for the regulation
and repair OF the telegraph. In addition 10 TINS they
secured the interest two hundred ana nIV
thousand dollars for twenty years. and present OF nIty
square miles land which the company were allowed
the liberty of selecting in any part OF the saiu Inese
with other substantial marks Of The favor Win whcn
Newio Midland government regarded the enterprise,
were willingly bestowed upon the company, with the
best wishes for their success charter having been
previously granted by the government OF Prince Edward
Island and BrGnswic the clegraIrlic connection
or rahr the OF the propos ,dt egraph connection
the United States and St Johns, the extreme
western point of Newfoundland, established. In
tho latter part Of 1886 complete communication was es-
tabshcd between those points by the successful laying
OF "a submarine cable the Gulf of ST. Lawrence,
from Cape Ray Cape North, the land lines having
been completed two or three years previously.
Thas far tho company had been successful; but till
the connection completed between Europe and
America, the work for which they had organized could
not be said to have been accomplished Through the
agency OF Sr Cyrus w. Field, the whole amount of
being $1,000 each The proportions in which
these shaics taken were one hundred ana
in London, eghty-eight in America, eighty
six In Liverpool thirty seven in Glasgow, tweny-eight
land The capital however lad to be subsequently, in
creased to 81 800 000 to meet the failures that occurred
In the various attcpps 10 submcrge the cable
During the CONGRESS OF 1878 subsidy OF 10000 per
fer twenty-five years granted to the Atlantic
Telegraph Company aud the Secretary OF the Navy
also supply national vessels to assist in
laying the cable. The British Parliament showed itself
equally bcrIl In compliance with the INSTRUCTIONS OF
Congress- the Niagara and Suqcchanna were deputcd TO
in the undertaking; but after the first failure in
1867, tho latter vessel withdrawn and the Niagara
the only OF national vessels that shared IN
the second attempt at laying the cable.