New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-07-30
HISTORY OF THE ATLANTIC CABLE.
TEE ATLANTIC CABLE COMPANY.

ORGANIZATION OF TBE CoMPANY-TT OBrArI AN Acf %
INCORPORATION PROM NEWFOUNDLAND.
The New York Newfoundland and London Telegraph Com
pany but known TO the public generally tho Atlantic Cahe
Company organized in 1874 In March OF that Mr.
Cyrus W. Field his brother David Dudley Field and ME-
Chandler White we're commissioned TO proceed to Sewond
land to obtain Government Of the Province en- act Of
Incorporation On arriving at ST. JOINS they called upon the
Governor convoked the Executive Council the sane day.
The gave favorable answer to the Commissioners
then IN session recommending them pass act Of norpo.
ration with guaranty OF Interest on the Companys bono,
land on the ssnd Of be selected by the Conc
pany. These terDs were agreed upon
GRANTS EXTESDED TO THE Company.
Additional grants were subsequently, received from tse Gov
Of Prince EDWARD Island. Nova Scotia Cassda
Of Britain and the United Sta,ss The governmental
gratis extended 10 the Company are as folows:
NEWFOUNDLAND
Exclusive privileges my landing osbIes or New.
The exclusive ffes. sao Lheii asptIdsse
he snrance of Hndsons Straits south~ afdy sn
n lie coasts Of Labrador Newfoundland Prince Bdwa
I.and Cape Nova Sco and the State Oh maine anu
n II sSSare miles Of land completion Of the Tes
sr copcessions Of additional City square miles when the
cable shall have laid between Ireland and
usrany OF interest tor twenty years a. h'e per Gems On
Grant Of R5Oo iu money tOwcrl budng road along tie
I Remission Of duties on importation Of al wires aud materials
FOR the use Of the Company
Exclusive privilege for 50 Of landing cables.
Tree grant OF 1000 OF land.
grant of $500 currency Re, Snaum '0r zen 'sa"
Act suhozrg the building Of telegraph lines Throughout
Remission Of duties all and materials imported foo
the use Of the Company vow, SCOTT.
graphic cables NON Europe the shores Of this Province
Similar grant of exclusive privilege for like period Of
years
Animal subsidy Of sterling until the net profits Of
Company reach per cent per snnuI on ne Whole saPs
sterling per annum for q period Of rs years
The aid oxo Of The largest N the S0sn navy
Government steamship 70 take any mrhsf necessary
soundings a. d verify those already taken. :,
UNITED srATB- -
Annual subsidy Of eeooo until the net profits yield par
psrsoa Of years SUBJECT Of b. Css
gress after ten years. on giving one years notice
The United States steamship Arctic to make and verify
Steamships Niagara and susqushsnns to assist 10 laying the
steamer to make further soandings On the
coast OF Newfoundland.
ORIGINAL ORGANIZATION.
original organization Of The CSmpsny Va: 3 sSs.:1
-6.se.ss Ss:Ysis-f.;. Noes: Taylor: CIR:
F.:: 'i s:sr..s; Dudley ss
TrLras APaiC CoSSfcTos BETWEEN TIE UNITED STATES
sr. ,.O toward tbs gigantic Undertaking VS. now
fairly naHgursted and the telegraph oes IN opsrssin
Canada United States were connected vtn S1Qo -
made in 1855 but was ciowned with In lsos the
attempt was renowned. and was successful =
CYRUS W. FIELD IN ENGLAND
Mr. Cvrus W. Field. Ia sent to EaAano ~ Ia
for the purpose ensng the aid Of cspitesss
country He vas emaenay oa9na,s IN a 80 ~
The capital Of the Company was hxed al so"o $50 w
whole was subscribed for Is follows
In London. ......-..............s..l0 i sneIcs
In Amorica: .................--. C. snsNs
In Liverpool GO essNs
In Glasgow. " sssIeo'
In Mnnchester. .................... % shares,
and e In other parts Eng md In consequence
Of the vast expense In the v.seu; yea Pc " '"e
the capital was increased 10 1858 70 " oW.Vn
ACT or CONGRESS
Annexed Is the Act Of Congress relative to the cable wbe
| WAS approved March ;, 1857. NJ. II ~
a DILL" 0overnmsnt and liz Foreign is.reoose A.,
.usssd BY and Aos's Rspss's:s. s ~
s.,. in he d sston under the direction Of the
the United States ceais WIN any
or ,,s cns.cs existing Telegraph s cost q
Hewfouud.nd the CO.'S, Of rsaa ana =, -.
s aIss ss ssnd.a: :: :a: ss
Psp reasonable 90, ssSu .. sssossion
oss 70 Of six cent per snan n' Tssi he Govern
, %1es1o i:i 4 ssrs o. he enter int
sI for hoss purposes with q. sane
.pos ,s s,s ss'f fs sST The s
Snsn By zee paohe ss q
sses'fy or @ authorised PROVIDED t Iss sss
rsa ssts and thereof shall enjoy The ~s We f
ssS % Ss q u:
Great Britain, and the subjects r sssosn
ses ;Sst Governmsns Prssdd rs Tbs. the ,,ss
made BY British Government SHAH nc, e wIosS Nswispd
land aud Teegsph Company except h ,gsnsmioa
! be necessary to secure 10 each Govefn~e' ~
WV THE ENGLISH CHATTER ,.,.,.s p.,u.
tn, chsr,sr NJ the Company passed by the bguss Eypo
y -''-~-- .