The Story of the Atlantic Telegraph

"2. Her Majesty's Government engage to furnish the aid of ships to take what soundings may still be considered needful, or to verify those already taken, and favorably to consider any request that may be made to furnish aid by their vessels in laying down the cable. "3. The British Government, from the time of the completion of the line, and so long as it shall continue in working order, undertakes to pay at the rate of fourteen thousand pounds a year, being at the rate of four per cent. on the assumed capital, as a fixed remuneration for the work done on behalf of the Government, in the conveyance outward and homeward of their messages. This payment to continue until the net profits of the Company are equal to a dividend of six per cent., when the payment shall be reduced to ten thousand pounds a year, for a period of twenty-five years. "It is, however, understood that if the Government messages in any year shall, at the usual tariff-rate charged to the public, amount to a larger sum, such additional payment shall be made as is equivalent thereto. "4. That the British Government shall have a priority in the conveyance of their messages over all others, subject to the exception only of the Government of the United States, in the event of their entering into an arrangement with the Telegraph Company similar in principle to that of the British Government, in which case the messages of the two Governments shall have priority in the order in which they arrive at the stations.