The Atlantic Telegraph (1865)

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Sir William Howard Russell. The Atlantic Telegraph (1865)

The Atlantic Telegraph (1865)

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THE. ATLANTIC TELEGRAPH

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Sir William Howard Russell

Published by Good Press, 2019

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One hundred and six shares were taken in London, eighty-eight in the United States, eighty-six in Liverpool, thirty-seven in Glasgow, and the remainder in other parts of England. Mr. Field stood as subscriber of 88,000l., and represented all America.

But it was not only from the public of Great Britain the project met encouragement. Ere the new company was formed, Mr. Field (13th September, 1855) addressed Lord Clarendon, requesting aid, and protection and privileges, and on the 20th November received a reply from the Secretary to the Treasury, engaging to furnish ships for soundings, and to consider favourably any request for help in laying the Cable, to pay 14,000l. (4 per cent. on capital) as remuneration for Government messages, till the net profits were 6 per cent., when the payment was to become 10,000l. for twenty-five years, and the Royal assent was given to the Act of Incorporation of the Company July 27th, 1857.

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