The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-11-29
THE FRENCH CABLE.
Receipts IncrensinR-The Cable Improving in
Effectiveness General Meeting of the COM


From, the london Daily Ne,cs, Norcmbcr is.
general meeting OF the Societe du Cable Trans
atantique Francois was held yesterday at the Ter
minus HOTEL Cannon street, to receive the report of
the Directors and the statement OF accounts Wis.,
count Monck presided.
The report was taken as read.
The chair nan, in moving its adoption, cOngratu-
lated the shareholders the condition OF the enter
prise within the stipulated expenditure In less
thnn year from the incorporation of the company
they had laid and brought into operation the longest
submarine cable in existence. The cable commenced
transmitting messages on the 18th OF August, 1863;
it has since continued in successful working and,
according to the most scientific authorities, i'm
proving in effectiveness by use. Ii was true that
scientifc-amost an imagnary-fault has been dis
dOwr, were so satisfied that 1t was of no Importance
that they left in the hands of the
company e20,000 in shares due to them to be for
feitcd should the fault become serious They had
had to meet many difficulties, and amongst them
was the misunderstanding with the American Gov
ernment in regard to the landing Of the cable on the
American shore. The press and the people of the
United States had always sympathiZed with the
company, and the directors had reason to know
that they possessed also the sympathy of the
American Government, with whom the J0ard was
now negotiating for the arrangement of all ques
tions affecting the relations OF the company with
that Government and with such favorable pros
poets of a satisfactory issue that he trusted the
hands. They had secured as their general
manager in Paris NJ Couchad, who at present
convention between all European powers ana they
had entered into arrangements with the English
Government, Wncn rom the ISL OF January next
when all the telegraphic communication in this coun
try VIII come under the Government control, would
lead to large accession OF the business AS they
were aware al the telegraph companies mere were
bound 10y working agreements with the AnglO-Ame-
rcan Company, which agreements of course would
be binding upon the Government, but promise mas
been given that this companys advertisements
should be displayed in all the telegraph offices, and
that the public should have the option OF telegraph
ing by either the Anglo-Amercan or the French
cabe. The receipts had been gradually increasing
week 10y week since it has been laid down, and it
rate OF pront to know that during tine first thirteen
weeks ii had been 10 operation the earnings of the
cable had been e2l,110. Ia the first week the re-
ceipts were e5l7; in the Second, GI46 the third
e104O; the fourth, el06s the fth el32}; the SIXTH
el797; the seventh, G1Tl0; the eighth, which was
exceptional the Anglo American being out OF order
e2GCO; the ninth, elSSS; the tenth e153G; the
OF order, e2602; the twelfth, Gl92S; and the th!r
teenth, which was not exceptional, .c2205. They
could now easily calculate what rate the receipts
bore TO the capital, aud lie had no doubt that the in
crease would continue for some time to come.
Baron Emile dErlanger seconded the motion.
mr. Hayward inquired whether under the articles
the meetings were to be annual or half-yearly, and
how often dividends would be made. lie was in
favor OF quarterly dividends for he could not
any reason for leaving large sum OF money in the
hands of the board from halI-year TO half-year.
The chairman replied that the articles stipulated
for yearly, not half-yeary, meetings; but it was in
the power Of the shareholders at any time, a
ouistion signed by the holders OF 5000 Shares to have
ameetng Called With regard to the payment of
dividends 1t the intention of the board to hold
another meeting soon for the purpose of declaring
dividend and IL would always be their desire to dis
tribute the profits soon possible after they came
into their hands. Subsequently he explained that
the European governments paid only once in three
months, but the receipts from New York We're for
warded weekly, and from this source they had now
GT000 in hand.
Replying 10 other questions, he added that the
French receipts rather more than half OF the
WHOLE The future meetings would be held after
nately in London and Paris. They Were working on
friendly terms with the Anglo-American Company,
and We're arranging with them mutual tariff book.
The motion was carried unanimously. The ap-
pOintment of Lord Monck and Lord w. Hay mem
bers OF the board was confirmed, and thanks Were
accorded TO both Messrs. Quiltcr and Ball, who
were reappoiEted London anditOrs and NJ Salmon,
| Paris auditor.
A vote Of thanks to the chairman and directors
| generally concluded the proceedings.