The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-07-15

the beginning. That would have been ,
very reasonable answer 70 s,, pr n,b Tno%' =
called on government 10 take the whole response
billy or the examination before the Lord Mayor OF
his hands. We should IN that case have recognized
II az perfectly Just that government should choose tt
make Its own investigation, and to exercise its own
dis reon as TO taking proceedings or not. And had
DR.. Thorn applied to 1t at that stage no doubt nc
| would have received just such an answer. But he
anticipated the answer Al his own risk and ex-
pense carried on the investigation for many days
and he makes no application for aid TILL the proper
tribunal has declared his proceedings NOT only usti
fable ont necessary. When this has been done It is
preposterous In government TO complain that n IL
had had the opton II perhaps would not have nsti-
n ins ~ at a Inc PROPHECY o, sncr
Wine lt exists must be held as OF higher authority
than the Home once or the Attorney General. The
Only question now Is whether after such an autho
-ity has declared the proceedings 10 be essential the
Pubc ought not TO pay for their being conducted TO
tell us that the whole OF the shareholders were
greedy fools and that there are some OF them rich
enough to prosecute II they choose. the motives OF
the shareholders not the point in question: and
the quit or innocence OF the directors 10 III no way
affected by the readiness OF the pubic TO take
doubtful securities. That some shareholders are rich
enough TO prosecute but 40 not choose 10 do so Is
as litte reason for not supporting the gentleman
In whose person 1t has been established that t is
outy 10 prosecute. The fact remains tbat the LORD
Mayor Is the judge on whom The constitution has
imposed the Junction OF saying whether such duty
should be performed or not III he ~ a competent
officer TO have such function entrusted MN the
government Is bound To insure its being carried
lntO erect, III ne Is not competent Olncer tue 60
vernment should say SO plainly, ana, az conse-
quence, abolish his Jurisdiction Since tue partners In
the arm OF Overend a Quincy have been committed
FOR trial the presumption Is that they are guilty. III
IL now for them 10 prove their innocence. II they
erred only through want OF judgment cruel wrong
would be inflicted upon them II they were deprived
OF pubic opportunity of rebuttng the evidence on
which they have been crlminally committed. III,
being guilty, they were allowed TO go scot Tree
wrong would be done tOs0clety st large. Inc snare
holders IN the company which they launched nave
no interest IN their prosecution which is not shared
in by every other individual. III they are convicted
those who have lost their money vii. not regain
It, Thai the trial should be burked because DR..
10 carry it on according TO the rules of the Queens
Bench Is no rejection either upon Dr. Thorn or upon
his brother shareholders, but upon the misplaced
parsmony of the Home Office In urging that the
prosecution should not al through the public press
Is nOt, some members OF Parliament seem TO
imagine, influenced either by vndictive feelings to-
wards The defendants or by any special sympathy
for persons who have not taken to heart the Duke
OF Wellingtons advice TO remember that '.hign
interest generally means bad security Our COM
plant is, that government refuses to eXpend
comparatively insignificant sum in order
to prevent scandalous failure of justice In matter
OF pubic interest," That 1t is OF vital Importance to
every unit In society Of civilized human beings
that crime should not go unpublished, and that the
proper and impartial administration OF the law
should not be defeated by technicanties, or be de-
pendent upon the financial means OF Individual,
we presume no person Win deny. With the result of
the trial we have nothing to 90. We heartily wish
that the defendants may be able TO prove their inno-
cence OF everything except errors OF judgment. All
VIC CoHtCuu tilhL Tue uldl SHOuIu TAKE place.
Atlantic Telegraph C0mpany-General Meet.
ing of the Shareholders-Repor Of the hi.
rectOrs.
The general meeting Of the shareholders in the
Atlantic Telegraph Company was neld in London on
Friday, the I'd inst. The following Is the report OF
the drectors:-
The directors have the honor of submitting the
holders the accounts made up April last being
ne eed Of me financial year. These show balance OF
hand I pS Of e a. rha
balance Of s rs 3D.
eTed IL 1s s which S the u
the time The later months considerably improved the
tn, tn Necessity Of dealing with two three items
Woa s open Ss
balance available Tor the holders OF the ordinary stock. 1t
on the and furnishing st.tions and buildings
ing of the telegraph both at Hearts Content
This sum viii be further increased as the directors are
peted These buildings were principally ordered by the
before the second agreement which RENTED the mana se
men to JOINT committee formed from the two boards The
The only means available them for raising
OF that portion Of the e0oOoo debcn,ues which remains in
giving the sanction Of The sharehoders to such issue The
ffa M Hsa bs Sir
the or0R S STUART
he Hon Robert Grnston elected in the place Of Captain
Mr. lie Breton retire By rotation aSo and being eligible
burn, also Offers himself for reelection.
After the reading OF the report was concluded the
Chairman said that his remarks in adjudication of
PLANTATION of the accounts would be very brief First
le wished to explain that be took the place OF the
Hon James stuart W9Et!sy p account Of that gen.
all active pursuits at present. But Il Gono be
source OF satisfaction TO the shareholders to learn
that The honorable sentIesWan would SIN remain
he said he wished he couN congratulate both classes
OF shareholders, and he confessed that the original
shareholders. who mad borne the heat burden OF
the day were to be comrAserated now that the con-
tnuty of their dividend was broken, but at the same
time the receipts OF the company were responsible
only IN a small degree Tor that circumstance. At the
close of last year there some outstanding Ia
. eilities which were not dealt with at the
time PVT during the year under considera-
tanned and PAID. There were then some
legal proceedings pending with some eminent elec-
t1cians FOR the use OF their patents, which 1t was
said the company had infringed from the first mo-
ment OF commencing. IL was agreed with the advice
OF counsel to compromise the claims up to that time
for the lump sum OF $1,000. and also to pay the sum
Of 1000 gear for ten years, and the $1,000 had
been paid. Then there was an item OF 81 O70 for law
charges extending over three years, incurred when
the company made great struggle to get the line
into It's own hands. Next there 94,322 for the
conveyance OF a long message In cipher from the
American government to Its ambassador in Russia
the charge for which the American government DIS
puted. but he thought that the whole OF IT would
c'cutudDy Oohic III, tiOuSu IL WAS d IOSs IOr the
moment. Then there came $4,000 odd for the re-
pair OF the cable, and those sums-which were
altogether exceptlona-added together gave
total OF flI,54l l6s. 3d. sum which had been
absorbed as described, but which would have
otherwlse paid nearly three per cent upon the
whole capital which went to bear out his statement
that II things had remained In their normal
condition the original shareholders would nave got
their DIVIDEND Notwithstanding the badness OF the
times since the present Board had come INTO office
they had endeavored to economic as much as pos
slble, and had seriously applied themselves to reduc-
Thapn
$4,000 In the balance sheet for the construction of
buildings a. the two termini Of the cables during the
year for the accommodation Of the stan. They were
necessary for the places at both ends OF the cables
were Ike desert waste. The entire cost OF those
houses would be about E2,000, OF which SIS coo had
\ been paid, and deducted by the Anglo-American
| from the money paid 70 the Atlantic. AS however
| the buildings included improved instrument rooms
and offices, the Board looked upon the expenditure
az one to be carried TO capital and proposed taking
resolution empowering them to Issue the deben-
lures at present uncancelled to pay this charge.
AiludfDu French nd tfa aahI IA