The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-08-03
FRANCE.
The Franco-American Telegraph Line te &c
Built Before September, 1SSO-COnditiOns OF
the Grant.

The Franco-Amcrican Telegraph Line to &c
Built Before September, 1S3O-COnditions OF
the Grant.
The telegraph has already informed you OF the final
signing by the imperial government of liberal con-
cession to the Franco-American Telegraph Company
for the term OF twenty years. 1t Ia probable too,
that the outlines Of the proposed franchise have
reached you but the final arrangements are
different In some details from The proposed plan and
there has been 30 complete change in the company
ITSELF that brief sketch of the conditions under
which the company must work may not be out Of
place.
The pioneers in and the real workers OF the new
scheme are Mr.. George Sauer, OF New York. and Mr..
Ritso for many years connected with biography in
the United States and now agent Of the Western
Union Telegraph Company In London. These gem
temen have been earnestly engaged for more than
year past in securing the moneyed assistance ncces-
sary TO properly carry out their plans 1t not
until last week that they found parties possessing
capital willing to invest IL In the great enterprise OF
connecting the European Continent with the Western
| world by submarine cable. English capitalists
were exceedingly anxious to take stock, and so were
| the Americans but they were not willing to pay
| down one million francs a guarantee to the
French government Of their good faith Ia carrying
out any contract they might make with y. Through
threatened to prove the death OF the enterprise.
Finally Baron Emil ErlanGcr became Interested In
the matter and when he had satisfied himself OF the
practicability OF the scheme he signied lis
Willingness 10 deposit the necessary guarantee and
take heavy stock In the company. Three days after
Wis cunt de Vongy, Inspector OF Telegraphs and the
enterprise Is at once placed III fair way Of success
| ful issue.
| Tue concession, which was signed July Q, pro-
| vides that telegraphic cable shall be hid
on the t Coast poGi the sate Of New PORK.
that 1t shall not touch at any foreign or inter
St. Pierre, in the Cuff OF 81, Lawrence. French
possession at the option Of the company. The line
must be laid and ut work before the ist day OF sep
tember 1862 and the government agrees to give che
| company the sole privilege TO work TRANSATLANTIC
lines for period Of twenty years and binds Itself
not to grant any other concession. The company
agrees that one hundred francs shall be the maxi
| mum charge for twenty words, and binds itself 10
observe tue rules and regulations prescribed by the
the Geographic companies in seventeen governments
of Europe. The United states government by virtue
| OF the act OF Incorporation granted 10y the safe
! OF New YORK to G. c. Leigh and coaJreres,
is TO have fun possession of the cable
thirty minutes each twentyfour hours fer the free
transm ssion OF ia dispatches The French govern
ment is by the terms OF the concession to have the
| privilege OF sending Its communications nj nalf
price. The company is restrained from uniting with
any other Atlantic cable company, nor can the orgi-
nal stockholders sell or transfer their Interests WITH
out first obtaining the consent OF the French govern
ment. Paragraph eight stpulates that II single
BILE shall prove insufficient FOR the proper transmission
| OF sagcs du ing the twenty years the company
| is bound to lay another cable on receiving noace
from the governn nj, and this second cable NUT be
| laid and IN working order wit.iin tie period OF
eighteen months after such notice been eceived.
In case OF accident, by whilh communication - in-
terrupted eighteen consecutive molths, the govern
| IN nj may foreclose the Franchise.
Tue company must show To the government on or
before september Is. 1865. that Is legally Organized
| and that It's capital % I'VE a7d hail millions Of
dollars is fully subscribed on its books. failure 10
fulfil this proviso cancels the concession and the
caution money to guarantee the funlment OF the
contract, TO the amount OF two hundred thousand
dollars Ia gold will b. forfeited. government In
spector shall have the right az Gil tnes TO Inspect
the cable while In process OF construction. The
ton money viii be returned when the cable ia manu-
featured and placed on board ship ready Tor Inner
sion. The non.obscr 'ance or any or these conditions
VIII forfeit the privileges granted BY the imperial
snrn are the conditions Of q contract TIA; pro
ruises within eighteen months 10 pace subhal 20
] caue between France aud the United STATES. fhe
! men Who now have II IN hand are capitalists anu
| full ~ enterprise and ygor. Baron Erlanger WI
aided uy Mr. julius Reuter-, OF London IL is htcly
| that English capitalists viii furnish more thai
third OF The working capital, whilc the frencn VIII
nod halt aAd the balance VIII be taken up III New
! York
The cable Itself will be NJ cnce contracted FOR in
| England, aLd u VIII embody al the improvements
! yet produced IL viii be much lighter than tic
| present Atlantic cable and quite a. strong ana
more ieNibe. The work VIII be soon commenced
| ana ~ midsummer next year you may expect 10
hear Of the departure OF the Great Eastern on her
third mission 10 The United states % lay cord Olnd-
| ng the New to the Od World. All the beat engineer
ing talent' emhOdying the profoundest experience,
Nus Already uecn secured In England, aud there
seems every reason to hope that New York VIII be IN
direct cOmmun cation with Paris before The first day
0l me year 1910. TO The newspaper press OF the
INT ~ Sttles u VIII prove great boon. Nc ssa2 IS
VIII be sent .hout rope,ions; the rate Of charges
WIN be low. The New YORK press VIII be able 10 pre-
seat rerex OF en- The news Of the world fully and
AZ