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378
The Story of the Atlantic Telegraph
·
Henry M. Field
81
In
taking
so
large
a
share,
it
was
not
his
intention
to
carry
this
heavy
load
alone.
It
was
too
large
a
proportion
for
one
man.
But
he
took
it
for
his
countrymen.
He
thought
one
fourth
of
the
stock
should
be
held
in
this
country,
and
did
not
doubt,
from
the
eagerness
with
which
three
fourths
had
been
taken
in
England,
that
the
remainder
would
be
at
once
subscribed
in
America.
Had
he
been
able,
on
his
return,
to
attend
to
his
own
interests
in
the
matter,
this
expectation
might
have
been
realized;
but,
as
we
shall
see,
hardly
did
he
set
foot
in
New
York,
before
he
was
obliged
to
hurry
off
to
Newfoundland
on
the
business
of
the
Company,
and
when
he
returned
the
interest
had
subsided,
so
that
it
required
very
great
exertions,
continued
through
many
months,
to
dispose
of
twenty-seven
shares.
Thus
he
was
by
far
the
largest
stockholder
in
England
or
America--his
interest
being
over
seven
times
that
of
Mr.
Brett,
who
was
the
largest
next
to
himself--and
being
more
than
double
the
amount
held
by
all
the
other
American
shareholders
put
together.
This
was
at
least
giving
substantial
proof
of
his
own
faith
in
the
undertaking.
But
some
may
imagine
that
after
all
this
burden
was
not
so
great
as
it
seemed.
In
many
stock
companies
the
custom
obtains
of
assigning
to
the
projectors
a
certain
portion
of
the
stock
as
a
bonus
for
getting
up
the
company,
which
amount
appears
among
the
subscriptions
to
swell
the
capital.
It
is
indeed
subscribed,
but
not
paid.
So
some
have
asked
whether
this
large
subscription
of
Mr.
Field
was
not
in
part
at
least
merely
nominal?
To
this
we
answer,
that
a
consideration
was
granted
to
Mr.
Field
and
his
associates
for
their
services
in
getting
up
the
Company,
and
for
their
exclusive
rights,
but
this
was
a
contingent
interest
in
the
profits
of
the
enterprise,
to
be
allowed
only
after
the
cable
was
laid.
So
that
the
whole
amount
here
subscribed
was
a
bona-fide
subscription,
and
paid
in
solid
English
gold.
We
have
now
before
us
the
receipts
of
the
bankers
of
the
Company
for
the
whole
amount,
eighty-eight
thousand
pounds
sterling.
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