Omaha daily bee., 1886-12-16

a X,
this company two years ago, but who has now
nothing whatever TO do with us, had a serious
quarrel, so out of personal spite the Finsn-
cial News began TO bitterly attack us and
brought 1t in the names of two other men
for which they dhe Financial News have
been served with writ and the latter gem
tlemen will undoubtedly recover heavy
| dama ages. We anticipate that the bulk of
| our traffic will come from Canada and the
| West Indies but if-mind this is my per-
| sonal feeling-we could Join the Mackay-
| Bennet company, why then we should drive
| the Moncks and Penders out of
| the field altogether The letters
| that Weaver managing director in
| the Anglo. has been writing to the Times
and other papers, have been, to say the least,
| misleading Look at the last reports of the
Anglo and Direct and you will see in mo-
ment that he makes the same figures for all
| his statements. We hear and believe that
the traffic of the pool companies has increased
since the reduction of the rate to Cd word,
| lis per cent, so that we confidently hope for
| good times, and in about nine months our
| cable will be laid for working"
| / next interviewed Mr.. Otto Roches, at
his Offices in Lombard street, in reference to
the company. lie has been connected with
| telegraph about eighteen years, and claims
| to have mastered its every little detail He
said: 81 was managing director of the Ori-
ental-American Telegraph company which
| amalgamated with Ad0iph Flamants Tele-
| graph company. well known in New York.
| i introduced the French syndicate into the
| Ponyer Questier company, and at the same
| time suggested the Azores rou te but it was
out-voted. l originated the idea of the In
ternational company cable. Our object will
be to maintain cheap tariff and give good
service, but had the Macka y-Bennett com
pany been forced to join the pool then we
| should be obliged to start
| with a tariff of IS Cd, or s. per
word. This company was only started about
a year ago. OF course its pr ogress has been
slow, but fair. 1t is scarcely year since we
had our concession given by the Portuguese
| government The same route has been on
the tapis for twenty years but the opposition
| has been so strong it could not be adopted
| until now. One ChOate, of Boston, United
| States, proposed the same route in
| 1869 and others before and since
then have been trying to perfect it.
DR.. John Hopklnson, f. II. s., and member
of the institute OF civil engineers has ap-
proved the specifications of the route and the
cable will be made under his personal super
intendence and will appoint the staff to
watch the laying Of the cable on his behalf.
Dr.. lopkinson is electrician to the board of
trade and to Trinity house. This route offers
advantages that no other could do. The great
point is that our first cable will be laid at a
saving of g2OO 900 in comparison with the Di-
rect cable. Flores, in the Azores, where the
cables will connect, will act as a relay sta
! tion, thus avoiding the expense incurred by
| the other cable company, and again the
| Azores route can be worked with lighter
and cheaper conductor and inSulator owing
to the shorter length of its cable.
OF course we expect our fair share
of work from the United States
and Canada, but one of our principal aims
will be to open up cheaper communications
with the West Indies. Yes, the scheme has
gone to an allotment and the bulk of the cap
ital has been taken by English investors
that is the first issue of 5000, 900 which is Sc
CURED by application guarantees and in
part by contractors shares. For the balance
of the capital we shall make n second issue at
future time in America and on the conti-
nent.
| cannot give you any investors names
now but our share list will be printed shortly
| when the names and addresses of the
stockholders will be made public.
We expect to have the first cable laid and
ready for working by next summer. The
Etract tor building it has been given to w.
Il. Henley's Telegraph works, limited, at
North Woolwich. Our contract gives us the
option of paying the Healeys 100000 in
shares in part payment, but
we may not call upon them
to take it. =. OF course if the Anglo wanted a
new cable made they would send to the
Telegraph Construction company, which is
really John Pender, and say: LAY us n
CABLE The money would be taken from
Pender's company, the Anglo, and go
into Pender's pocket through his cOnstruc-
tion company We did not say to any one:
Build us cable" On the contrary
worked out the cost Of the raw materials at
the present market value myself, then al
lowed so much for making and laying, and
arrived at the cables actual cost. Then
went to Henley's and asked them: "Will
you lay a cable for SO much,' and we came to
terms The average cost of each of our
cables will be G4l5,OOO fully
equipped, which includes all the
prelininaries, expenses, concessions, etc
Our idea in starting this company is not to
sell ont. Oh, no; 1t is not being built for that
purpose. Many of our shareholders have eX'
pressed themselves as putting their money
for permanent investment. Had we thought
of selling out we should have ma de higher
contract in order to have some profit out of it.
The contract has been made as low as posi-
BILE in order to pay dividends at low tariff.
or course we would sell if wa got E2O for
each el0 share. As an illustration of what |
mean. | may remind You that the Anglo
bought its first opponent, the French Allan
tic company, of 1861 for about $3.50 0OL
OF stock, but then that was not the Anglo we
know to-day. We have an exclusive CON
ceSsion from the Portuguese government for
twenty years, to land our cable at the Azores
That is the only concession we possess
Yes, the ocean bed has been mapped out to
see il laying cables there is feasible. Fol
that purpose We have engaged a special
steamer that will take special soundngs
every hour or oftener If required. Sound
ings have already been taken for every six
/, days, but our steamers will improve upon
this rs the cable is being laid. As our land
a lines service that must be left to the future
as when the cable is laid we can easily ind
land line connection.
BRITISH MAIL CONTRACTS.
I Details of the Breaking Up of Royal
Monopoly.