New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-08-23

Tot.l s,bct had cauia IL
The above capital had covered everything TO the failure
OF last years cable and the Atlantic Telegraph Company PAD
arranged for providing the fuds necessary Tor esumg ne
work y an IL per cent first preference shae
which they were advised entirely within their powers
An adverse legal opinion Ssen os.a Ss ~
per cen, stock and returned the TO the applicants
d 4 %G a nae nde Ssn s9PS Wy % he
WAS therefore decided that DO purpose Of aiding u TIE
company should be formed and endued with such prneges
would induce the public to subscribe 20 ~ Inc ~,
with capital 5000 600 all OF which has been taken up
Tae effect Of the agreement entered INTO between u
Atlantic Telegraph Company that the ormeF UNDERTOOK
the for the latter Company OF new eaos anu
for its submeon between Ireland and duIs
present SUMNER and for the adoption ofsntaDe measures
for raising and completing the broken cable Of last year
cab or either as the case may be- as agents aod be-
halt If the Atlantic Telegraph Company during the
that in consideration Of these services Of
e0O shall be made by tho Atlantic Telegraph Company
the Anglo Company out OF the earnings from the
WoLns Of the cables the infringement being the receipts
in each year all the Atlantic Telegraph conpanys lines
and directors and interest mot exceeding per annu
debnturs Of the Atahtc Telegraph Company 10 DO
First in paying the AngloAmerican Company al2aooo per
annum. ... ~.
the AtlaOtc Complnys existing preference stock
per their ordinary stock to the Atlantic ana
Third the entire balance OF each years receipts W oe o
yded the Company and te Auah.
tic Telegraph Company equal shares but deficiency In
respect the above annual payments In any one year Is =
be carried forward TO another year. =, o..
termnaug tie agreement before the LIST OF January,
Go ION giving three months notice tina. eeeD BY pay
coo being double the Of its capital H. however, the
Atlantic Telegraph Company exercise this option tie Anglo,
American Company will the right TO take payment OF the
~ 200 co., onehaf in and onehaf in ordinary Atlantic
Telegraph shares par, instead of the whole amount in
Ia the event Atlantic TELEGRAPH Company exercising
the right OF redemption by payment Of the above named sun
dissolved and the funds distributed among the shareholders
graph Company the York. Newfoundland and London
Telegraph Company have agreed 10 contribute 4Sooo per
annum 10 tie AugoAmcrcan Company Il their share OF
the receipts Tor through between Ireland and Amer
lea This subsidy wll terminate upon the payment by the
Atlantic Telegraph Company Ct the 81 200 900 above menI
toned or nvOn both cables censng after the 3t Of December
1865 to be in working order for u successive months.
Thus shareholders in the AOgo American Company VIII
be entitled e25OO year Of the earnings Of 'be Attain
tic Telegraph Conpany lines and a2 year ost Il tbosa
the Newfoundland Company for through business together
with $50 year upon capital Of f60o making % yen
been stated that The Anglo American Telegraph Cou
PAW are about Jay down cable between Cape Nay
and Cape Breton, the 20 miles forming At present ne Ynr
break in the telegraph connection between London ana rev"
York. -
the Atlantic Gable AZ Hearts Content TO Port Hood IA
scotia is the property tue New YORK. Newfoundland an
LONDON i aaP SeePan onuanv Uurehased he escu-
right Of landing cables in Newtonndald ana eeWbee.
Their lines in order for the service OF business
Atlantic Telegraph Company have repeatedly nouhed 70
that Company great desraby Of the restoration OF
nes which have for heightened period continued IN E
eoadision -, =, ...., ,.... houor.r mfr.
unable TO and repair the broken cable and therefore,
Mr. CYRUS W Field their vlcc.charman durie his visit 20
country gaze order for new one 20 the Teleg graph
Construction and Maintenance Gem ANY which was com
peed aud in order to save sense was the
time as and IN one 81 the ships belonging TO the present
Atlantic expedition.
There Is er probability that this entire line Of eommnn
CATION III he complete in few days. A.,
srecards the graduated scale OF first second and tntu
class the Gea OF which been started It must %
stated that the general law Of this country or o. sne
United states the special Act OF Parliament OF he Aan
lie Telegraph Company would permit Of such an arrangemen
as It specially provided in all these that all s' ~
transmitted without favor preference III the oruer " "h"
g. SAwARD. See . ary and General Superintendent
No. IL s. HsieEs PLGe aug TO-