Lab
Library
Journal
Shop
Sign in
to keep
Share image
1
378
The Story of the Atlantic Telegraph
·
Henry M. Field
273
The
contractors,
partaking
the
general
confidence,
came
forward
promptly
with
a
new
offer
even
more
liberal
than
that
made
before.
They
proposed
to
construct
a
new
line,
and
to
lay
it
across
the
Atlantic
for
half
a
million
sterling,
which
was
estimated
to
be
the
actual
cost
to
them,
reserving
all
compensation
to
themselves
to
depend
on
success.
If
successful,
they
were
to
receive
twenty
per
cent.
on
the
cost,
or
one
hundred
thousand
pounds,
to
be
paid
in
shares
of
the
Company.
They
would
engage,
also,
to
go
to
sea
fully
prepared
to
raise
the
broken
end
of
the
cable
now
in
mid-ocean,
and
with
a
sufficient
length,
including
that
on
board
the
Great
Eastern,
to
complete
the
line
to
Newfoundland.
Thus
the
company
would
have
two
cables
instead
of
one.
In
this
offer
the
contractors
assumed
a
very
large
risk.
They
now
went
a
step
further,
and
in
the
contingency
of
the
capital
not
being
raised
otherwise,
they
offered
to
take
it
all
themselves--to
lay
the
line
at
their
own
risk,
and
to
be
paid
only
in
the
stock
of
the
Company,
which,
of
course,
must
depend
for
its
value
on
the
success
of
the
next
expedition.
It
was
finally
resolved
to
raise
six
hundred
thousand
pounds
of
new
capital
by
the
issue
of
a
hundred
and
twenty
thousand
shares
of
five
pounds
each,
which
should
be
preferential
shares,
entitled
to
a
dividend
of
twelve
per
cent.
before
the
eight
per
cent.
dividend
to
be
paid
on
the
former
preference
shares,
and
the
four
per
cent.
on
the
ordinary
stock.
This
was
offering
a
substantial
inducement
to
the
public
to
take
part
in
the
enterprise,
and
it
was
thought
with
reason
that
this
fresh
issue
of
stock,
though
it
increased
the
capital
of
the
Company,
yet
as
it
was
all
to
be
employed
in
forwarding
the
great
work,
would
not
only
create
new
property,
but
give
value
to
the
old.
The
proposal
of
the
manufacturers
was
therefore
at
once
accepted
by
the
Directors,
and
the
work
was
instantly
begun.
Thus
hopeful
was
the
state
of
affairs
when
Mr.
Field
returned
to
America
in
September.
Marker
Marker
Fine marker
White-out
Fine white-out
Circle
Paint
Unmarker
Hand
Scalpel
Dice
Sieve
Purify
Undo
Redo
Start over
