The Story of the Atlantic Telegraph

The capital being thus raised, it only remained to complete the organization of the Company by the choice of a Board of Directors, and to make a contract for the cable. The Company was organized in December, 1856, by the choice of Directors chiefly from the leading bankers and merchants of London and Liverpool. The list included such honored names as Samuel Gurney, T. H. Brooking, John W. Brett, and T. A. Hankey, of London; Sir William Brown, Henry Harrison, Edward Johnston, Robert Crosbie, George Maxwell, and C. W. H. Pickering, of Liverpool; John Pender and James Dugdale, of Manchester; and Professor William Thomson, LL.D., of Glasgow. With these English Directors were two of our countrymen, Mr. George Peabody and Mr. C. M. Lampson, who, residing abroad for more than a third of a century, did much in the commercial capital of the world to support the honor of the American name. Mr. Peabody's firm subscribed L10,000, and Mr. Lampson L2,000. The latter gave more time than any other Director in London, except Mr. Brooking, the second Vice-Chairman, who, however, retired from the Company after the first failure in 1858, when Mr. Lampson was chosen to fill his place. The whole Board was full of zeal and energy. All gave their services without compensation. It was the good fortune of the Company to have, from the beginning, in the important position of Secretary, a gentleman admirably qualified for the post. This was Mr. George Saward--a name familiar to all who have followed the fortunes of the telegraph, in England or America, since he has been the organ of communication with the press and the public; and with whom none ever had occasion to transact business without recognizing his intelligence and courtesy.