The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-08-26
ENGLAND.
FROM our LONDON CORRESPONDENT.
Transatlantic and Local MISUNDERSTANDING
Of Enterprise and BENEFIT TO the Public.

Of Enterprise and Rcneff to the Public.
LONDON, August IL, 1868.
To-day the prospectus OF the new Atlantic Tele-
graph Company from Brest TO New York, has been
Issued, and enclose a copy The managers ask for
81 0oo 600 capital In shares OF E2o EACH and propose
10 lay a cable, from the Great Eastern steamship
with one extremity at Brest, France the other at the
French island OF st. Pierre near Newfoundland,
with connecting line to some point on the Atlantic
coast OF the United subsequently, Plymouth,
Mass. Mr.. Robert Lowe, NJ p Is the chairman Of the
London board OF directors and Sir James Anderson Is
the general superintendent. The French concession
has been granted to Mr.. DEranger, the Paris banker,
well known from his connection with the rebel loan,
and Mr. julius Reuter-, who supplies the London
press with their news te'ograms Thomson, Marley,
Clark, Forde ana Fleming jenkins undertake the
practical electrician department There IL no doubt
that the cable will be laid; but whether the company
VIII succeed or not l. a matter OF opinion.
OtCourse the present Atlantic Cable Company regard
the new enterprise with considerable suspicion, and
have taken every means TO guard against It's compet
ton But II has already had one good effect in the
ducton ofte tari FOR messages At present the cable
company charge i've guineas for ten words or less:
but on the first OF september this will be reduced 10
tnree pounds seven shlllugs aud siXpence. The new
company promises TO send ten words for two pounds
and as the stock Is subscribed for you may expect 70
see the present company come down 20 the same
rate. Moreover, the present company allows only
i've letters TO word: the new company Will have no
such restriction. This five letter Arrangement IA
also doomed The Associated Press OF New York
stands In the way OF Its immediate abolitlon for the
managers profess 10 be afraid that the press will in.
vent cipher to take advantage Of the new arrange.
ment FMS Is al best childish fear. The present
company have calculated that their messages from
France and the Continent now average 1--WE and one.
elghth each way per day-that is TO say ten and
quarter messagesand they argue from this that the
new company VIII not pay. This is an allar Of opin.
lon aso
In order 70 prevent the new company from oht ain.
my any EnElish messages the present company has
MADE contract with the British government by
when me government agrees TO give II all the trans.
audnuc messages That come over the lines In Enc.
land, ireland, scotland and Wales 40 soon az tho
pending measures TO transfer these lines 10 the gov
eminent are completed. Al first sight this IL an i'm.
poftant concession but the French COMPANY win
have an once IN London at which messages cal he
received, ana almost all the cable now come
from London and Liverpool. on the whole the pro.
bablty ~ that the contract with the English govern
meD will amount 20 very little and that The
by the competition. II has lust been Announced
here that the cable OF 1856 has stopped working and
the fact that the present company II dependent
upon The old cable alone Will give the stock OF the
new company an impetus. what is really nee led H.
an American cable company 10 beat both the English
and French IN lOwness OF tarr and rapdty Of com.
uunicatiOn. a direct cable from New York To IlVrr.
pool or Falmouth would defy competition and ought
10 be laid, either by private enterprise the Amer
can government
The purchase 10y the English authorities " al the
local lines VA the Kingdom rs an event The import
ancc OF which seems TO be appreciated by Amcri.
can Journal except the HERALD, and the HERALD IL
the only paper which advocates similar purchase by
the American government ~ the lines IN the United
State. hut undyubtc " the effects OF this purchase
wal be something wonderful tae government pro.