New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-10-13
GREAT BRITAIN.

Hon j. Smart Rortley presided
The following report from the presented and
read by the Secretary tNr savardl;
The Directors have az length congratulate the share
holders OF the Atlantic Telegraph Company upon the
prosecution II which they have been engaged With unahaed
ronfenco during upward of nine years IL remains for
the Directors 10 invite the shareholders 70 Join with them
hearty thanks those gallant and pgsegerng men whose
aruous abors the three months In the nautical
the engineering and the electrical departments Of this
prise have the world most efficient communication
acres. tie Atlantic BY submarine cables BY the
OPERATORS OF the present year the position Of deepsea cables
investment has been placed basis never previously
attained practical proof has been Afforded Of the possibility
of rsnc and repairing them injured In depths Of
water they had previously been deemed 70 be naece
bewhe the facts which have been developed as 20 the in
proyement Of insulation and increase OF speed IN working
after submersiOn have greatly enhanced ter eOmefcA
value Some alloy however their otherwise full atsiac
lion t bv the directors having state that the Lines Of
the New York Newfoundland and London Telegraph Compa
nv with which this company connected have been found 70
be- in yery imperfect state preventing the reduction 10 the
present time Of the restrictive charge OF 40 per message
which the board are looking TO the prosperity OF
the undertaking 20 assist reducing early possible The
directors are however assured that eXerous being
made TO bring those lines into proper condition ana IN shg
American Telegraph Company VIII be plcucabe saey 70
effect a very material reduction Owing 70 the circumstances
above referred TO- the Of working the cables 10 this
time has been that the returns OF revenue though large oher
no criterion as the future value Of the property These
returns would greatly increased even under the
present tariff but for the existing uncertainty as 70 TIE state
doubt that with those lines In good order under reasonable
tariff such is the desire Of the Company 10 adopt az the
earliest moment every expectation OF the Directors as TO
yery large revenue win be fully realized The Direc-
tors looking 10 the large amount Of present
payable preerentialy 10 the AngoAmerioan Telegraph
COMPANY amounting 10 s 900 year and half the surplus
profits beyond the and per cent 70 the preferential and or
nar 'oes 81 s i he exneIon Of these payments
he their duty % the propretors 70 lose no time n
that steps be either under the contract
or by some mutual arran cement 20 effect object import
ant 10 their The balance OF this Company unssued
capta is at which under the powers already
posesed by the Company be issued either ordinary
stock second preferential stock bearing such interest as
may be deemed advisable The directors propose 10 ask
the Of the shareholders this stock ut such time
and on such terms either ordinary stock At such rate OF
ssTy Ne BOARD further desire the sanction Of the shaehod
ers application Parliament by the Company 70 increase
capital u the Company 20 total not exceeding
a5OOOOOO including the existing capital Although in the
notice Of the extraordinary general meeting when mas oeeh IS
sued BY the directors was 20 ask r power 20 ISSUE
$4,000 with first preferential dividends they have decided
further consideration to abandon tue saue oil scn STOCK az
unnecessary and simply 10 ask for the sanction OF the snare
holders the issue Of the balance OF capital and TO an appca
ton to Parliament for increased powers -,
resolution authorizing the issue OF the remaining capital
moved by the chairman who in doing so said that be
anticipated at very early moment great deduction o t9e
of July 20 September the cable earned t46O which
would make an syerage neqqng sunugys ana az
DAYS when the cable could not work at all the average would
is6O day The largest sum taken IN one Gay laa peea
e2 and the two most profitable messages the company had
transmitted had been the King Of Prussia speech and an &C
OF the fight between Mace and Ooss tLaagnterl
The resolution agreed TO- as was also resolution empow
erng the directors apply 70 Parliament next session ioT
power increase the nominal amount Of capital from 12
In reply to questions the Chairman stated that the object Of
the resolution was 70 gave the aSe,Os o~s T s ne
holders would he called together sanction any proposition
for raising additional capital Inc Two cables was ate
paed would be than equal 70 all the business that could
come 10 them for years The estimate was that thy
could transmit five words minute whereas tney actually
transmitted Is and sometimes % words minute The ins1a
Ton OF the gna cable found at present more complete
ta that the cable In the recent experiment IN which
tie cables joined and the electric spark produced y
piece and piece Of copper placed 10 silver hlmoe
signals we're pessed through the entire coil Of 3Oo miles in
The motion wa, carried and vote Of thanks to the chair
man and directors concluded the business
Mr. Adams American Minister TO the Court OF 81 James
has gone 10 the Continent FOR few weeks relaxation Mr.
Moran remains at the Legation as Charge dAhaires
THE CONFEDERATE COTTON LOAN.
TO ae Editor If Ta1 DadV SeWa
Sin: The attention Of the committee appointed to
watch over the the holders Of the above has
been the following paragraph which appeared your
For some time past the supporters OF Mr. Johnsons policy
have assuring the public that great change was taxing
hs side OF the water has been taken and has
been so confidently assumed that change had come over the
koLf,r, Of uoss Confederate bonds haze aersd Themselves
that s val srsn vet belonged to tie RsSs PT''s
the part Of Ii. Committee beg leave to say that they
bays the Greatest confidence the Rebel promises TO pay pro
sdsd hsy were e MI bey receive from The South
bat the testimony given By Gen Robert T. Lee be
Gore Ils se. skeS the following qae.iions
Q What is the feeling OF that portion Of me people o. VIZ
debit A believe lar opinion goesI have no facts
20 20 upon merely base my opinion on the khowedge
have Of the peophat they would be willing 10 pay the Con
o Won think they would A. ! think they would they
had the power and ability 10 do nave never hearu any one
State with whom have eonYssed speak OF rp"dasn9
trust Sir your sense Of Justice and faJ play win induce
fbsr ada thar no such political blunder
mttea any who had the estoatlon OF the Union
A. heart compelling the South 10 repudate their aeot ana
especially this psy foreign debt Of ~ iOf TGa GDC "a
prosperity 10 the South and TO annhate their credit In En
zone They required and still require money for the cultivation
~ tbe- estates 20 enable grow cotton tobacco
,urar and repair their railways they offered any terms Oat
that fatal word reputation although forced on the mas oeen
the stumbling block 20 their obtaining shiing.
TIE Committee believe that this fatal word 50 far a, the cot
ton loan Is concerned destined shortly 10 De plotted ou ana
then the money markets Of Europe E De again open o e
prumo,on Of Southern enterprise aud aTenesed era u pros
PeIi! VIZ t"s an sent Sear ~ VIM MORGAN
I'VE do gather the purpose OF NJ Aorgahs
southern States would pay the int est On e war DEBT az
lowed the North II 20 be thought tnht tAey soo
much would not De taken 20 p.sSsnl pI ~ sI
their debt public charge tney EoH " s ' =.
history 70 do So But. in truth no ntesen Peson e *
aed t when he lent money the South The oan Ike tae
- -. s,.c1l.oB and IL failed The statement in our
article 70 which Mr. Morgan has called ATTENTION 10
Gssly the confederate bond good Tor nothing n Ias
notu on il mako lucid DAILY News
BEEg FRoM THE RIVER PLATE
Prom The LouSOa Dtiy Nos' sep; ~
A very interesting reunion vas held yesterday st
- Tsvsrn ne obieci o. which the important one
- sirin whether our present very deficient supply Of
snal foI mi ,ht no, be supplemented rom tae LlAlaoie
P-Tss al So7b America The object Of tie meeting was
-, ~ NJ paris who explained that az previous social
meeting he'd In the London Tavern IN NoenDer ast the al
vant OF an invention for preserving meat irsA vas tsee
aud was pronounced 20 be successful Ihs nsehtos VIE
~ NC,u and Sloper aud the process was TIE
Introduction u certain gas TIE nature Of NHtn = s VIC
Of tie pateniee BY means o. slca tas mss ~