The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-02
THE DIRECT CABLE COMPANY.
Failure OF n Movement to Amaieamnte with
the Ansio-American Company.

tue Augl0-tmericun Company.
LONDON, March lon the 18th OF Jan
uary last, Messrs. Learoyd 4 Company, solicit.
tors. Of Finsuury place, issued a circular In the
interest Of certain parties, not specified. calling
for meeting OF the shareholders Of the Direct
United States Cable Company. for the purpose
Of promoting tho sale OF the direct cable to or
the aualeamation with the Anglo-American
Company. For some reason that meeting was
not held. Messrs. Learoyd & Company issued a
second circular, dated Feb. q, as follows:
To ne Shareholder or the Drect UHasd stairs Ciss
SIR Referring to our circular OF the iith ~ Janu,ry
las. have state that municaton has b, en-
made 10 The Drec ors 81 the Anglo American Telegraph
@ by are r rgT s. Of the es h'r
meeting OF tue shareholders OF the company
on me Term. proposed, .ueh meeting 10 be held On
Mcdncsh v, he ls ~ March next. AZ - O'Clock noon,
the city Terminus Hotel. Cannon street. IN order to
sppolnt committee Tor he purpose Of conducting the
ADJ. 10 aiend snal be Obliged oy your si-nng and
returning to " the accompanying form Of approval.
LosDoN, Feb. 22, 1910 Lr,noYp & Co
To-day about nfty or sixty shareholders rerre-
sentlng a respectable minority Of the stock Of
the Direct Company, went To attenu tho meet
Ing in Cannon street. but only about a dozen
were admitted. am Informed tina, the reason
Of TINS exclusion was that each Shareholder was
required AS preliminary to admission To sign
Hmalgamation. and that between thirty and
forty declined so to pledge themselves without
having the scheme explained to them or know
Ing the terms and conditions OF the proposed
sale or atnalaamation. The latter were exclud-
ed from the meeting.
A mum Der of them then went 10 the offices of
the Direct Cable Company In Paiinerston Build
ings, BishopSg ate-street- Thin. and oreanized
ameeting. wnereat the subject Of the LearO,d
circular was discussed, and the following reso-
luton was adopted:
The undersigned shareholders IN the Direc, United
dsrs to record Tor TIE iaf95nson Of th he feoS
sh o, Gers t.at tneJ aisndea al he c{ Terminus
ent Al the meeting called ~ Messrs. Ltaroy Co,
Of he heme ropee 81
snce OF ~ nScihood Of being carried out, they
their fellow shareholders await report Of their
directors Of Tie general meeting TO Ike pace this
a shareholder who attended the meeting at
Cannon street says that onl, about twelve were
present, ana that the meeting was adjourned
sine die, without any resolution having been
passed.
The results Of these meetings seem to render
asnle or analcamAtion 81 the direct cable more
Improbable than ever. In fact, the managers Of
the Direct Company give the strongest assur-
ances that their memorandum OF agreement az
an org snized body Will not permit them 10 sell
| or amalgamate, and they declare their deter
mnation TO carry on their business as an indie
( pendent company IN accordance with the
pledges they have given to governments, con-
panies and individuals with whom they have
| relations.
To-day the steamer Faraday completed the
repair Of the Torbiy New Hampshlre) section
OF the direct cable, which was broken on the
! I'd OF January last.
! The following Ia a COPY Of a Telegram re-
ceived by the company from its representative
on board the FarAdaY:
Tue end OF the Eastern piece was picked up At II
minuer TO tins morning, In latitude AZ 49, u ueDh
| OF nearly oae Luudfrd fathons. The damage was
caused d cutting with hatchet and there are
marks OF tfrse four blows. The cable haa appar
emily been raised up On an anchor ana subsequently,
suraded the under siae OF the bend ana eight OF
them cut through evenly, and two broken after ueng
weakened BY hacking The condition OF the cable Is
excellent. the compound Is OF Tor twelve inches from
40. Ia lea
uonable. for when the cable raised IL mgnt easily
have been siipped without damagingit,
The officers OF the Direct Cable Company say
that arrangements have now been ade TO keep
the faraday on the coast OF Nova scotia IA a
| police and repairing ship until another vessel
can be eeut to replace her.