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1
378
The Story of the Atlantic Telegraph
·
Henry M. Field
228
This
was
putting
strong
arms
to
the
wheel.
A
few
days
after,
a
combination
was
formed
to
carry
on
the
whole
business
of
making
Submarine
Telegraphs,
by
a
union
of
the
Gutta-Percha
Company
with
the
firm
of
Glass,
Elliot
&
Co.,
the
principal
manufacturers
of
sea
cables,
making
one
grand
concern,
to
be
called
The
Telegraph
Construction
and
Maintenance
Company.
These
two
great
capitalists
entered
into
the
new
organization,
of
which
Mr.
Pender
was
made
Chairman.
The
Gutta-Percha
Company
brought
in
still
further
strength
to
the
joint
enterprise,
in
the
person
of
Mr.
Willoughby
Smith,
their
electrician,
and
of
Mr.
John
Chatterton,
the
inventor
of
the
insulating
material
known
as
Chatterton's
Compound.
The
union
of
all
these
men
made
a
combination
of
practical
skill
and
financial
ability,
such
as
could
be
found
in
few
companies
in
England
or
in
the
world.
Mr.
R.
A.
Glass
was
chosen
Managing
Director--a
gentleman
who
seemed
born
to
be
a
manager,
such
power
had
he
of
gathering
about
him
talent
in
every
department
and
combining
all
into
one
organization.
Reenforced
by
such
powerful
aid,
the
new
Company
now
came
forward,
and
offered
at
one
stroke
to
take
all
the
remaining
stock
of
the
Company.
This
was
more
than
half
the
whole
capital.
As
yet,
of
the
L600,000
required,
but
L285,000
had
been
subscribed.
Now
this
princely
Company
offered
to
take
the
balance
themselves--L315,000.
They
did
more,
they
took
L100,000
of
bonds;
and
so
by
one
dead
lift
these
stalwart
Englishmen
took
the
whole
enterprise
on
their
broad
shoulders.
From
that
hour
the
problem
was
solved.
Thus
after
a
dead
lock
of
six
months
the
wheels
were
unloosed,
and
the
gigantic
machinery
began
to
revolve.
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