The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-04-05
Prospects of thc Atlantic Gable Ex.
peditiOn.

petition.
| Some interesting statements were
made before q numerous and influen.
tial meeting held, on the 14th ultimo,
In the Common Hall, Liverpool, by
MI. Cyrus w. Field, Mr.. Cannine.
engineer, and Mr.. Varley, electrician
to the Atlantic Telegraph Company,
and Captain Anderson, Of the Great
Eastern. Mr.. Field first explained
that it had been positively necessary
to form the new company, (the Anglo
American, us the Attorney General
of England had decided against the
legality Of the issue by the Atlantic
Telegraph Company of twelve per
cent. preference stock. The new
company would supply all the money
for the expedition of laying the new
cable this summer, and, when COM
pleted, it would be delivered to the
Atlantic Company, the agreement
being that the Anglo-American should
receive a certain amount per annum
of future earnings, and hand over the
balance to the original company. This
was fair and just arrangement, and
the Atlantic shareholders would have
certain preferential rights in the pur-
chase of Anglo-American stock.
Mr.. Canning said that should any
''fanlts" occur in the laying opera
ton they would, by improved ma
chinery, be able to repair them at a
minutes notice. Capt. Anderson,
who was heartily cheered, expressed
his fullest confidence as to the success
OF the future operations. Mr.. Varley
was equally confident. The expert
ments Of Professor Thompson, of
Glasgow, showed that during the
operation of laying, the cable was
nearly three hours in falling to the
bottom of the sea, and that after al
lowing for the greater slowness at
| tending the operation Of picking up,
the amount of strain to which the
cable would be exposed would be in
creased only by two cwt. above it's
own weight. The new cable which it
was proposed to adopt IA sample was
shown would lift above eight tuns,
and would bear great deal more
twisting and handling than the old
cable. 1t was intended to have the
plcking-np machinery i'll future at
| the stern and not at the bow. Hear.
hear
Mr.. Willoughby Smith had invent
ed most delicate and perfect instru-
ment for testing the insulation dur
ing the whole process of laying,
splicing, etc. Mr.. Varley did not
think that 4 revenue Of E1, 900, 600
sterling per annum would be at all
an unreasonable anticipation, particu-
larly as the Persian Gulf cable with
all it's imperfections of management
and its delays, yielded eos, 900 year.
The instruments to be used in con-
nection with the Atlantic cable would
work eight times as rapidly as those
employed on the Persian Gulf cable.
Mr.. Field further explained that the
Anglo-American Company had of ne
cessity been SO rapidly formed that
at present the directors were London
men, but that it was intended to unite
the interests of Liverpool, Manches-
ter, Glasgow, and other large cities
on the board The scheme was cos
mopolitan, and the company would
receive messages from all other tele-
graph companies and transmit them
in the order of reception.
With regard to capital, he stated
that of the s6OO,0 900 required, 94OO,-
600 was subscribed before. he left
London, and that it was intended to
close the lists fol London on Mon
day, and for the country on Tuesday.
Eight gentlemen connected with the
Telegraph Construction and Mainte-
nance Company had, at one sitting,
subscribed 100000 each. Mr. Var
ley Illustrated, by experiments, the
splicing process, aud subsequent
insulation by gutta percha. He also
stated lin reply to qnestions) that the
electric condition of the submerged
cable was perfect, and that the insu-
latlon, owing to the depth and the
cold, was much greater than near the
surface. Mr.. Canning and Captain
Anderson expressed confident belief
that the old cable would be recovered.
If the Great Eastern could pick ND
the "bight" it would be spliced, and
the operations of laying both cables
would go on simultaneously. If not,
one of the smaller vessels would be
detached to pick up. Mr.. Rawlins
called attention to the fact that three
or four miles of the last cable had
actually been recovered. Votes of
thanks to the gentlemen who had
made the explanations were adopted.
" Il lNnG<