The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-12-14
OCEAN GABLES.
A New Cable Telegraph Enterprise Reduced
Rates Promised-An Appeal TO the Public.

TO THE EDITOR or rHR HERALp:--
am instructed through your columns TO state "a
the public tho situation and purposes OF "Tbe New
York and London Direct Telegraph Company,
limited" OF which am the counsel la New YORK.
This Is a company organized and registered in Lon
don, under the acts OF Parliament which provide
for the incorporation OF companies
The chairman Of tho company Is the Earl Of
Dudley. The articles OF association provide for a
board OF twelve directors, Ave OF whom are to be
American citizens, charged with the management
OF the company's business In New York. The
American directors are Mr.. Samuel G.. Arnold,
OF Rhode Island; William 4. Bodget Henry q.
Marquand Eugene Kelly and myself, residents Of
New York. The franchise OF the company consists
Of a right to landing place on the southern coast
Of Wales and similar grant Of right to land on the
coast OF Rhode Island. BY q special charter,
granted by the Legislature Of Rhode Island In June.
1869, Samuel q. Arnold and others, oil Ameri-
can citizens, made corporation, under
the style of 'sThe Narragansett and European
Gable Company with an exclusive right for
period OF twenty-five years OF landing and
operating teegraphic cable or cables, TO connect
with Great Britain, Holland, Belgium or Spain, in
any OF the waters OF Rhode Island. Tie Rhode
Island corporation has been fully organized under
the laws OF that State, and it has entered into
contract with the London company to MAKE to the
ate sum- payable In the stock OF the London COM
pany. The London company has entered into .
contract with an eminent firm Of telegraph con-
structors in London for building and laying the
proposed new cable The waters Of Rhode Island
were selected for the landing place on this side,
because they afford tue best landing place
this SIDE OF Cape Cod for q cable that Is have
direct connection with New York as is now prac-
ticable Twas found on inquiry that the waters II
the state Of New YORK are not nearly suitable Tor
the establishment Of direct connection between
this city and any part OF the coast OF reaS Britain az
the waters OF knode Island, FOR the re son Chai
cable, when brought to and anywhere witn the ter
rtcria limits New York. must be laid more or less
upon ground exposed TO be used as the anchorage
ground OF vessels: whereas this Is not the case in
respect TO the waters OF Rhode Isanu. cable
landed IN Rhode Island may have Us terminus
within few miles oil the land lines that now con-
meet the cities or Boston and New YORK; or the COM
pany which represent can construct Its own land
line from It's maine terminus to New York. Ii is
the intention Of the London company 60 lay the new
caoe ID August 1871. When lad It's affairs on This
side Will be under the management OF The dvo
gentlemen above named, anu OF such officers az
they may appoint. 1t is d cardinal feature In
Tins scheme that the cable SHAH be an nde-
pendent one. aud be operated under tariff Of
charges much lower tnln the lowest rate that
has hitherto been charged Tor the same service.
The capital OF the New FORK and London Direct
Company, limited has been fixed at 1850. 20, or
ST., 25c, ooo American gold. 1t has been ascertaned
in London that for this cable or the best
structlon with all the recent improvements, be
built, laid and equipped Tor working. The manu-
OF tho cable. Some OF the most eminent Lele-
graphic engineers aud statistclans Ia London
have furnished the company with the cacu.
attons, winch have SATISFIED It's gers tnat
their cable can be opc aleu- at much lower rates
than any that have been hitherto charged and tnat
tue income, alter paving workng expenses and set.
tug aside certain reserve for contingencies, VIII
yield lair Interest on the ABOVE named capital:
The company VIII eXpend no money excepting what
is Absolutely necessary TO lay ana WORK che caple.
No part OF its capital Will DO absorbed IN bonuses
TO the promoters, ana me cost Oh tS franchises mas
been reduced TO very moderate amounts. vi us
whole capital OF a650O0 IS sale TO say, on the in
formation furnlshed me, that moro thln go ~ Ju0
Will be abso.utey Tree be expended in procuring
and laying caole OF the best construction aud Ia
equipplng it III the best manner.
/ understand chat tuls company. when 1t goes into
operation Will receive Two classes OF me ,Sase5
preferred and non preferred. For certain numb&
ferrcd messages received during those hours, tno
cable Will despatch tna class Tte other Class will
be sent as ICON the preferred messages
cleared or small additional charge, Therefore.
Will secure preferential despatch and delivery OF
message that rs urgent, While messages III regard
10 which q decay OF u Few hours Is not Important.
Will Le forwarded and delivered on the same day ON
which they are deposited with the company at o
smaller cost than Will be paid tor the preferred
The expectations OF this company IN regard to the
element OF calculation which see has ALREADY been
alluded TO In editorial article IN tile W0Ttd OF
date. The maximum working Capacity Of q deep
cable for each day Ia a known element, being a
certain number OF messages Of ten words each.
That the same laws OF increase In the amount Of
business that have operated through u reduction OF
the postage on letters VIII operate In similar ratio
tnS business OF SeDulug Geographic COmlnuntcI-
tons Is rational beiie Many more classes persons
ana many more persons OF the same classes CAN and
wl use cable at cost OF 50 70 Tor ten words than
can or will use &C cost OF " 50 for ten words.
Whatever theories may be interposed to the con-
trary, we know, frol the experience IN respect 10
letter postage that q reduction III tho cost OF all
such means OF communication mutlpes, i'll far
greater ratio than the OF the reduction, the
numbers 6s persons wlo learn to them and to
make their use part OF Their Common aud familiar
advantages ] have noticed a suggestion made
Europe and America as to justify the expectation
that If rates were reduced ocean teiegraphlng would
become q common necessity. This suggestion Omit3
the fact that opportunity has ne or yet been
a1Ioroe for allowing any others than very limited
or can be made necessity TO them. 1t is now
necessity only TO the press ana to limited number
or merchants and bankers. But these comprise bue
q very small Part OF those to whom 1t might become
necessity II ii were brought within tneir means.
The great bulk Of .'rhe relations between Europe
ana american Is NOT compromised IN the wants OF
Gn0ss whose heavy pecunlary TRANSACTIONS Will aord
TO bear charge OF hfteen dollars or chaige0f
But, without entering at present into any ex-
tended argument on this particular point, am Ia,
London Direct Telegraph Company limitedh are
about ask tor reasonable encouragement OF tnels
enterprise at the hands OF the press and the ier-
chants and bankers OF New York, upon the plain
ground any subscriber to It's capital STOCK mas
onered to him an opportunity TO secure. all efficient
cable independent IN It's management, under tho
control OF gentlemen here known 10 the public, anu
werking with the eXpressea pnrpoSs a amoas
every person who low uses a cable TO
reduce his annual expenditure for cable
messages. On this basis any one can estimate the
value OF his investment in the STOCK OF tbis COM
pany, The American directors are instructed to
secure subscription OF $50 700 in New York. This
amount beng taken here the remainder 0fthe STOCK
Is expected To be taken IN London.
shall be happy 10 afford to the press or TO indf-
vlduas any further information concerning this
company and TO EXHIBIT It's articles OF ASSOCIATION.
The same Information can also be obtained OF Henry
G. Maryland, esq, the banker OF the company I'm
New York, who now authorized to receive sub
scriptlons TO iJa capital stock
GEO TICKNOR CURTIS.s
Counsel for the New York and London Direct Tclc-
graph Company, limited.
No. o NASSAU STREET, NEW YORK, Dec. III 1870
DEPARTMENT OF PUBLIC WORKS.