New-York tribune., 1867-09-18

per cent preferential stock on the 5 Of August the At
lantic Telegraph Company wrote TO the AnglOAmerican
Company setting forth the proposed reduction of tariff,
and strongly recommending its adoption The directors
sorry however TO state that those concessions TO
the public were ncgalved by the Board OF the Ango-
American Company: The Atlantic Company had also
subsequently, failed IN her renewed endeaVos TO induce
the AngO-Amcrcan Company tO unite with them IN the
adoption either Of tie proposed or any other practicable
The Chairman, in movingthe adoption Of the report,
apoogzed for the absence OF the Chairman OF the Com
pany who, he said unwel and for the absence OF
the other directors, who away in the country where
he said he should also like to be. "a laugh He re-
minded the meeting Of the proposal made at the last
meeting that thore shOud be reduction In the tariff for
rectors OF this Company had used every endeavOr TO
give effect to that recommendation, but had been
unable to come TO terms with the Anglo-Amer-
lean Company. with respect to the financial
That the net earnings lad been si5s1 after dedueng
&7O4 for back interest on bonds issued IN 1864, which
would not again; al53OoO would pay interest of
per cent on 924OoO00 (Which would be the cOmpanys
capital if the Anglo American paid OH, and leave
amount charged for the two accidents aud the for
back interest the net earnings, without these deductions,
would have beenahout would have PAID per
cent on &200OO0 leaving for rescryol fund al4O ard
had company been possesson OF nc cables even me
&6000O first preference stock and the second
the 100000 Of old shares The result Of last years busi
showed the benefit Of having two cables in fact,
business could not be done wei without the two cables,
and though having the second cable had been great
expense yet it of ncaculable advantage. The acc
Relative 10 the proposed alteration in the tariff he called
upon the Secretary 10 read the correspondence which had
American from which ii appeared that the Anglo Amer
lean Board desired that the charges should be at the rate
Of Is word for message, while the Board of this Con
pany proposed that message OF 10 words Sould ne hN
guincas the name and address words being given IN ana
press messages be hapice. The charge now so
for 20 words and the chairman complained OF the wrong
that had been done the company py what was was
sons sending several messages for one fee, by
concerted arrangements. and robbing the company
The plan OF the American Company for the roduc
of the tariff would entail great loss upon the com
pany anc At was too great step TO take to come down
from ,aT of &l0 for message 10 taru by Which one
word could be sent FOR IS The traiac receipts varied
amazingly, he said the average rate OF te hSst ioHr
weeks being el9O day and the lowcstio io weeks daly
Mr. FarsoH after receiving an explanation from the
chairman that the policy proposed by tins company was
to nave message lower than i've guneas, very cor
Mr. cater reefeitcd to lid that there tlat
dial cooperation between the two companies which
should exist flor the successful Woikns OF G!,t COM
pauy. In his opinion, the cable Woud never DE WoIkcd
ing ina opposite ways With regard % the taIh hc WAS 81
opinion Int If il had been reduced there would haNe
been five TO ten messages where there was Only one
several shareholders, who stated they held shares IN
both companies urged the dcsapcncss oi buying Up Ae
AnglO-Amcrican Company. 80
Mr. Harris seconded the adoption oi the report
The Chairman said the question oi bay ing up the An
goAmorcan should before the directors 40 au early
date and attention would also De given 20 Tie other points
was then adopted and the proceedings closed
with vote OF thanks 10 the Chairman.
TIE BANK OF ENGLAND-ENCLes OF EVLLoN
The London Times says the Bank Of England account
sG1 Gftccn Vcars aro nc amount Of bullion held OK
cccds the amount Of the note circulation in the hands Of
the public On the Goth Of june 1852, when cousos were
about lOi ox div, a similar circumstance took place.
The excess Of bullion over circulation was thcn ANl4s;
of the month from tile absorption OF notes that takes
place at the bank Oh account OF revenue payments,
much larger difference is likely to be witnessed Al pres
en the bullion held by the bank Is nearly s2WOo above
the extraordinary total temporarily reached IN lsJ1 ana
there is every symptom OF furthtr Tapd aushehia-
'OD HEAVY MERcAxruE FAILURE.
of Moscow consequence Of large Transaction in cotton
They had four cotton mills ana ther liabilities are es'i-
mated at about a quarter OF million stcl4lhg.
TIM HARVEST AID TUE cShN IT, IHhbE. ,..,,,,
Advces from Frankfort IN The TINES state That Whcdt
Is continuously bought up at firm prices ioI FRANCE ana
Switzerland, While barley Is dull the orders from Holland
4 Correspondent Of The Ti"cs notices as waTlike
ynptom that large arrivals OF oats from the north Of
FnTdpe were beng ranshppcd from the poI Of London
TO France The total quantity 10 me present hc i estl-
nua report estimates the wheat crop IN England and
Scotland be under the average harley 10 per cent
Yuv average and peas much below average. Jhe potato
crop il producing an average ie' Dut ,ilc Pu9y " "oi
be vccSfcr and southwestern counties Of England tl9
disease is very general Ihe tgrGiP GoR genfraly G G
bctter'yicld Of hay was never secured in England.
ADvANCENUNT 0F sCENCE AssoClIloE. .,.
The annual meeting Of the British Association Tor INC
under i the Fr(sideucy Of the Duke Of Bucclcuch
A NIW TRANrAILANIiC STEAMER.
Tho now steamer France Of the National iEo, had made
very satisfactory trial trP ana wouJ sHoIy IVY t
taken tp bv the Government for tho Ably sslah cNpe
diton She IS said 10 be the largest merchant steamer
next TO the Great Eastern.
QUICK PASSAGE FROM AMERICA.
The Royal Mail steamer Java aTlFcd OH pu'oiis =,
on Thursday evening, at p ~, RON bo''ph anu M a.
fax having accomplished Tue fastest llssls, ~,
Atlantic on record The homcwaTd voyage oi thc Java
1,rcvious This, made between 1ataN ana queens
tcn i days II hours which considered at tho time
the fastest up that period, but her last mp oven sur
passes this She left Boston on the 10Th uit at g25 p m
aud arrived al Halifax at 3:3l D. in the following day
Having DELAYED six hours here TO take passengers ana
ils Lo left at $50 D. NJ and arrived on Rochespont at
: o'clock on Thursday evening ms makes inc tihle
S,uic0 ON tle VOYAGE between Boston ana tluccnsOWn
Ii, 10 hours Tor difference Of time ana the delay al
,r former pacc) days 2t hours. Her running was as
fn0s lgt $40 miles 30ih 2l0 3Is 1928 let sept, Jl7;
"a 3l9 sd, 33G 4th. 3l6 ; 9TH, 35O.
IHE JOHN I. FORD.
tclegrauliic dspatch from Wexford. sept. G, says
rio Anorrau boat John T. Ford has come ashore al Ia
cumshanc IN good order; papers saved.