New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-02-06
THE ATLANTIC TELEGRdPH

rnR PROPOSED OBSERVATION-DISCLOSURES OF THE
CABLE.
The journal Of The Telegraph gives the fol-
lowing interesting information:
"A project is understood be In course OF arrangement
on the part OF the Atlantic Telegraph Company for the
purposf Of paving of the holders of the
stock who have the first charge OF rs per cent interest on
At lanc Telegraph Company. and onesixh by the New
York. Newfoundland and London Telegraph Company.
formed to provide capital for laying the cable OF 1865
after tho failures of 1858 and 1885. the allowance re-
would that under the tariff. which. how
ever. into operation only i've or six weeks ago, the
Company calculate that their income, after payment
Of ali expenses, about R25oOco year After pro
vidng fl2JOOo for the Anglo American holders, this
leaves sl2J 900 year be divided between the Atlantic
8per cent preference shares and the original Atlantic
sockeach 1900 900 also in amount The arrangement is
after the former their per cent the original
shall the residue up per cent and that
the balance shall be divided and above that proper
tion equally between them Thus s72.OOO year would
be required to per cent the preference and the
per cent the original and the balance OF $4,000 would
represent another cent or more on either stock and
~ the business OF the Company increases those figures
ought to increase also.
The most important qeustioD in the economies OF the
Company relates TO the paying of Of the Anglo Ameri
shareholders. who may be dealt with at double
the nominal amount of their shares 1t DO
ngned that either by government help the hand
or by system Of assurances the other. tho amount
may be obtained at about eight per cent all included.
This 81 800 would be 100000 year, thus leaving
addition say of e5ooooa year OF net revenue to
the Company ator the Anglo American shares and the
proposed debentures have succeeded them In this way
furtheri per cent for each OF the remaining stocks
would be obtained AngloAmerican telegraph shares
quoted under these arrangements at Ss to and
Atlantic Telegraph. to 5t-the par value OF the first
being 10 and the atter5 Old original Atlantic stock IL
quoted at 80.
There is before the stockholders offer OF
fl000 OF preferential capital drawing with
An interest In any surplus FUNDS that may The
success OF this arrangement will consolidate the
agement, relieve the Atlantic Telegraph Company of q
charge OF $4,000 payable annually the Anglo mer
can Company before the Atlantic Telegraph Company
becomes entitled TO interest OF any kind and secure
economy and increased efficiency
80 IL will Also TO use the language OF the Atlantic
C0mpanys circular, just received as had thus far
progressed with this article eatngush the further right
at present Possessed by the AngoAmerican Company
retain as additional profit half Of any surplus that
may remain after receiving this Rl2JoOo and paying
At2yc 10 the Atlantic shareholders.
" This AIfVlo- American Company is composed wholly,
with the exception OF Mr Field Of citizens of England,
ana wi by this scheme become extinct by this ABSORB
ton, also, the American Company OF which Peter Cooper
u President. who with Moses Taylor Wilson g. Hunt.
yrs W. Field and Others own the lines In Newfonnd
lsnd become relieved OF an annual Subsidy OF SIS 900,
when under existing arrangements the Newfoundland
Company pays to the Anglo American Telegraph Com
paly ahd otherwise enhancing the value of their pro.
perry No American will Grudge them their success
Today February |, the Newfoundland Company have
&isaSa aNsttsTH dlydep9 u twp per cent u gold"