The Story of the Atlantic Telegraph

"We shall be prepared in a few days, as soon as we can get the necessary information in regard to what price we can charter suitable ships for the service, to make you a definite offer." Although it is anticipating a few months in time, we may give here the "definite offer," which was obtained by Mr. Field, on his return to England in the autumn: "London, October 20, 1862. "Cyrus W. Field, Esq., Atlantic Telegraph Company: "Dear Sir: In reply to your inquiries, we beg to state, that we are perfectly confident that a good and durable Submarine Cable can be laid from Ireland to Newfoundland, and are willing to undertake the contract upon the following conditions: "First. That we shall be paid each week our actual disbursements for labor and material. "Second. That when the cable is laid and in working order, we shall receive for our time, services, and profit twenty per cent on the actual cost of the line, in shares of the Company, deliverable to us, in twelve equal monthly instalments, at the end of each successive month whereat the cable shall be found in working order. "We are so confident that this enterprise can be successfully carried out, that we will make a cash subscription for a sum of twenty-five thousand pounds sterling in the ordinary capital of the Company, and pay the calls on the same when made by the Company. "Annexed we beg to hand you, for your guidance, a list of all the submarine telegraph cables manufactured and laid by our firm since we commenced this branch of our business, the whole mileage of which, with the exception of the short one between Liverpool and Holyhead, which has been taken up, is at this time in perfect and successful working order. The cable that we had the honor to contract for and lay down for the French Government, connecting France with Algeria, is submerged in water of nearly equal depths to any we should have to encounter between Ireland and Newfoundland.