.148

It will become obvious that the improvement the author suggests in regard to ordinary arc lamps is also capable of application to those designed for use in lighthouses when suitably modified; hence it will have been seen that the -physiological inefficiency of the arc lamp, in proportion to its great photometric intensity, may be remedied with success.

[JANUARY 30, 1891.

---

Electric Lighting of a Village Church. A gentleman living at Penally, in South Wales, who has recently had his house fitted with the electric light, has had the wires conveyed into the village church, as also into a reading room which he has provided for the people of the village. This is said to be the first church lighted by electricity in South Wales.

NOTES.

Electric Lighting at Bournemouth.-At a meeting of the Town Council, last week, it was reported that a letter had been received from Messrs. Learoyd, James and Mellor, on behalf of the National Electric Supply Company, Limited, stating that their application for a provisional order was too late for the coming session, and asking if the corporation would grant a license to them on their undertaking to apply for a provisional order next year. The committee recommended that such license be granted, and the report was adopted. The committee also reported the receipt of a communication from the Board of Trade, asking for the observations of the council as to the proposed amendment in the system of laying the mains under the Electric Lighting Brush order and the committee, after careful consideration, recommended that a reply be sent to the effect that the council would approve of metal water-tight conduits being used, but would object to concrete ones, and that the council, anxious to conserve the safety of the public in connecting consumers with the high pressure system, suggested that compliance with the current rules of the Phoenix Fire Office, with regard to transformers, be enforced. This was also adopted, and on the recommendation of the Roads Committee a proposal of the Brush Electrical Engineering Company was approved of to lay down an underground wire system along the Poole Road.

Electric Lighting of Bristol.-According to the scheme of electric lighting which the electrical committtee has decided on, street lighting and private lighting will be kept entirely distinct, different dynamos working the separate circuits. There will be 100 street lamps of 1,000 C.P. each, fixed at an average distance of 50 yards apart, some along the kerbstone and some in the centre of the roadway. Half of these will be turned out at midnight; but even then the light will be twice as effective as the present illumination by gas. The committee are now awaiting advice from Mr. Preece as to the character of the boilers, engines, and other machinery to be adopted.

Electric Light at the Royal Naval Ball, Devonport. -On the occasion of the late ball given at Keyham barracks, in honour of the Duchess of Edinburgh, the ball-room and the whole of the buildings were lighted for the first time by the electric light. The installation was carried out by the electrical and engineering staff of the H.M.S. Defiance torpedo school at Devonport, under the superintendence of Lieut. Orpen of that ship. The current was supplied from three dynamos, two on board H.M.S. Racoon, and one on a torpedo boat, all of which were more than 1,000 yards away from the barracks; over 6,700 yards of armoured electric light cable were used for mains, and for completing the circuit a steel hawser and the iron work of the pier was utilised. Owing to the considerable distance between the dynamo and lamps, and the small size of cable used, there was a great loss in transmission; the E.M.F. at the dynamos was 80 volts, and in the buildings 42-volt lamps were used in groups of eight. Although only used two nights, considerable trouble was taken to make the light perfect, and the result may influence the Admiralty to light the building permanently.

Electric Lighting of Trains on an Irish Railway.— On Thursday last, the Great Northern Railway of Ireland ran a train from Dublin to Drogheda and back which was lighted by electricity. The experiment was entirely successful.

JANUARY 30, 1891.]

Proposed Extension of the Electric Railway to Peckham.-A memorial has been drawn up and largely signed by inhabitants of East Dulwich and Peckham, praying the local authorities to increase the railway accommodation of the district. The London and Brighton trains run only to the south side of London Bridge, which is very inconvenient in bad weather, so the Camberwell Vestry will ask the directors of the electric railway to extend their system by way of Walworth Road, Camberwell Green and Peckham Road to East Dulwich and Nunhead.

The Effects of the American Snowstorm.-The snowstorm which raged over the American continent on Saturday night, reduced the telephonic, telegraphic, and electric light systems to chaos. On Sunday night not a single lamp dependent on a supply company was burning. In the lower part of New York, where the old-fashioned telegraph poles were still standing, the streets were blocked with a number of prostrate poles and miles of entangled wires. Business on Monday was practically at a standstill all day, for all the merchants and brokers had been almost entirely cut off from communication with the outside world. The telegraph companies are the heaviest losers by the storm, as it is estimated that the damage done to the various lines will reach at least half a million dollars. Fifteen hundred wires were rendered completely useless, and it will require at least two weeks to put them in working order again. Only two telegraph wires were workable out of New York, one to Chicago and the other to Albany. All the newspaper and commercial and private wires are down, and the local newspapers appeared on Monday with nothing but European news in the matter of telegraphic information, and very little of that. The telephone wires have suffered most from the storm in the city, the telegraph wires being mostly underground. The Metropolitan Telephone Company report that from 2,500 to 3,000 wires are broken, the cost of repairing which will amount to at least 150,000 dollars. The Western Union Telegraph Company are at present unable to form an idea of their loss, which is, however, very heavy. Outside New York the damaged wires extend from Philadelphia to Boston, as far north as Poughkeepsie, and as far west as Carbondale. Beyond these points the snow was dry, and no damage is reported; but within these limits the loss is estimated at over one million dollars.

A Singular Request.-Emma Abbott, the famous opera singer, whose death recently occurred, left instructions in her will that her body be cremated after a thorough test by electricity. It is said that Miss Abbott had a great fear of being buried alive.

The Proposed Central Railway.-At a meeting of the Commissioners of Sewers, held on Tuesday, it was resolved to petition against the Central London Railway and the City and South London Railways Bills to enable the commission to offer such opposition as might be deemed expedient.

Electrical Apprentices and Employers.-Among the applicants to Mr. Sheil at the Westminster Court on Monday were two young men of very respectable appearance, who complained that as apprentices to a firm of electrical engineers they were last week suspended from work by the manager because they would not consent to work for nine hours more a week than they had been doing. As a matter of fact, they had already worked three hours more weekly than they undertook to do on the signing of their indentures, with which a premium of fifty guineas was paid in each case. The only excuse put forward for the fresh demand was that the new management considered it necessary.-Mr. Shiel asked them if they had a copy of their indentures.-The applicants said they had not. They had never had a copy given to them.Mr. Sheil: Your position entirely depends on what is in the indentures. You may be bound to comply with rules made at any time. One of the young men said he would go and demand a copy of the indenture. Mr. Shiel: Ask for it civilly. A respectable firm will not refuse you a copy.

149

The Frankfort Exhibition.-The committee of this exhibition states that the Oerlikon Engineering Works were to have commenced, on the 24th inst., to make experiments with the extra high tension which it is proposed to employ in transmitting current from Lauffen, on the Neckar, to Frankfort.

New Electrical Journal.-A new electrical journal, called the Exportzeitung für Elektrotechnik, has been started in Hamburg to promote the export of German electrical appliances. The journal is published in German, English and Spanish, and appears fortnightly.

The Tivoli Waterfall.-The Minister of Public Works has declared to be of public utility the project of erecting a large station at Tivoli for the electrical transmission of power to Rome.

Lecture.-On Thursday evening, the 22nd inst., Mr. Henry Edmunds delivered a lecture before the Streatham and Tulse Hill Institute on "The Applications of Electricity." The lecture hall was well filled with an appreciative audience, who followed the lecture with marked intelligence and enthusiasm. The generation and application of the electric current was described and explained with the aid of a full set of apparatus, the lecturer dwelling more particularly upon the use of electricity for motive purposes, giving some figures showing the rapid development of electric tramways in the United States, compared with the slow progress made in the same field in this country. Various articles illustrating the domestic application of the current to such humble offices as heating irons, and boiling water, were inspected with considerable interest, and several electric motors demonstrated the transmission of power. Mr. Edmunds also exhibited his phonoscope, which renders visible the changes in the diaphragm of a telephone, and also his electrical gyroscope, describing the possibilities of such an instrument. By the courtesy of the National Telephone Company, the lecture hall was placed in communication with their service, and Mr. D'Oyley Carte having kindly allowed his stage telephones to be employed, the audience were enabled to hear the opera of the "Gondoliers" performed at the Savoy Theatre. We hear also that a more novel and important feature was a line which connected them to the Theatre Royal, Manchester, enabling them to hear the pantomime which was at that moment delighting the inhabitants of Cottonopolis. The lecture room was lighted electrically, and the various experiments were completely successful.

The School of Electrical Engineering and Submarine Telegraphy.-The manager of this school, Mr. L. Drugman, informs us that as the result of recent examinations the following students have now obtained the vellum certificate of the school :-(A.) In Electric Lighting and Power Transmission: Messrs. A. C. D. Crommelin, B.A.; J. Finlay, J. F. Ingens, H. Macfarlane, L. Marchetti, F. J. Moffett, B.A.; R. J. F. Mostyn, J. W. Parr, P. F. W. Simon, P. J. S. Tiddeman, H. Treherne, L. W. Wild, C. B. Wigg. All these students belonged to the advanced class instructor, Mr. Charles Capito, M.Inst.M.E., M.Inst.E.E. This examination was conducted by Mr. Gisbert Kapp, M.Inst.C.E., M. Inst.E.E., and consisted of a paper in mechanical engineering, a paper in electrical engineering, a viva voce and practical examination and drawing. (B.) In Telegraphy and Telephony, Mr. H. Treherne, above-named. This examination was conducted by Mr. H. R. Kempe, A.M.Inst.C.E., M.Inst.E.E., of the Engineer-in-Chief's office, General Post Office.

Oxygen. The Bill promoted by Bowman's Oxygen Lighting Company which would have empowered it to lay mains all over the metropolis has been dropped and electricity has another lease of life. The streets have had one violent upheaval and will be none the worse for being quiet for a time.

O.S.A.-On Saturday, January 24th, a most enjoyable evening was spent at Prof. Perry's house, 31, Brunswick Square, Mrs. Perry having kindly invited the members of the Old Students' Association of the City and Guilds of London Institute to an "At Home." A very excellent programme of music was provided :-violin, Miss Edith Doughty and Mr. Gatehouse; 'cello, Mr. Roger Bucknall; vocalists, Miss Cherry and Mr. Howden Tingey; pianoforte, Miss Margaret Doughty and Mr. C. G. Lamb. In all there were about 200 persons present, most of whom were students and their friends, but in addition to these there were several distinguished electrical and scientific men, amongst whom we may mention Prof. Ayrton, Prof. Meldola, and W. H. Preece, Esq., F.R.S.

JANUARY 80, 1891.

The City and South London Railway.-The bill for the extension of this railway to Islington has been found to be in compliance with the standing orders.

Electro-Harmonic Society.-Members are reminded of the excellent concert to take place this evening, which we feel sure will draw them and their friends together in large numbers.

Personal.-Mr. W. T. Hunt, who was the first of the four gentlemen who engaged with the New York Electrical World when it was founded in 1883 has severed his connection with that paper and purchased a proprietary interest in the Electrical Age.

Mr. Drake's Accident.-Mr. Drake has sufficiently recovered from his severe accident to enable him to be conveyed home from the Westminster Hospital, and it is hoped that he will in time thoroughly recover from the effects of his fall.

Coincidence. The recently paid dividend of the Electric Construction Corporation was at the rate of 6 per cent. on the capital of £500,000-£30,000. The amount to be appropriated out of the present issue of £100,000 Debentures to the repayment of loans secured by temporary debentures is £30,000.

Mine Explosions in France. The committee appointed by the French Government to investigate the subject of mine explosions of course finds, writes the United States Commercial Agent at St. Etienne, that the primary cause is the igniting of fire damp. After a disquisition as to the probable cause, the commercial agent says that he cannot leave the subject of lighting without mentioning the electric lamp invented lately, and of which a member of the French Academy of Science (Count de Gerson) gave the fullest details in a recent meeting, and produced a specimen which greatly interested that assembly. This lamp is the "Stella," and has been described in a previous number of the REVIEW.

Company Financing.-The Mechanical World is beginning to speak out rather strongly on electrical company financing. In referring to the electric lighting of the City our contemporary states :-"There is, however, one thing which seems discreditable, and that is the proposal to transfer the concessions to one, or probably two, limited liability companies. Surely the two contractors are either sufficiently strong financially to carry out the work themselves, or are able to provide any additional money which may be required, privately. New electrical companies of recent date appear to be only launched to bring in large sums to the promoters, and it is to be regretted that in this instance, although the contractors will retain a proportion of the shares and the engineering control in the new company or companies, the same element appears to be present." The Mechanical World evidently thinks that the companies with concessions might extend their capital by issuing debentures, but the course adopted is no doubt the best practically.

Terrible Accident to a Telegraph Lineman.-John Reid, a telegraph lineman, residing in High Street, Edinburgh, met with a fearful accident, on Sunday week, which, it is feared, will end fatally. Reid was engaged on the top of a télegraph pole, 50 feet high, at Junction Bridge Railway Station, Leith, transferring wires, when the pole fell down, precipitating him to the ground. He was picked up in an unconscious condition, and conveyed on a stretcher to Leith Hospital, where it was found that, besides internal injuries and a broken leg, the poor fellow had sustained a compound fracture of the skull.

Telephone Accident in Manchester.-While some men employed by the National Telephone Company were engaged in erecting a double standard in Cromford Street, Manchester, the wall to which it was stayed gave way, and knocked down two of the men, one of whom died shortly after admission to the hospital.

JANUARY 30, 1891:]

British Tanning Company, Limited. (Tanning by aid of electricity.)-The annual return of this company, mady up to the 31st ult., was filed on the same day. The nominal capital is £70,000 in £1 shares. 35,140 shares are taken up, and the full amount has been called thereon. The calls paid amount to £33,532 10s., and unpaid to £1,607 10s.

S. Z. de Ferranti, Limited.-The statutory return of this company, made up to the 10th November, was filed on the 24th November. The nominal capital is £100,000 divided into 2,000 perference and 8,000 ordinary shares of £10 each, the whole of which are taken up, and of these 1,993 preference, and 8,000 ordinary shares are considered fully fully paid up. Upon seven preference shares the full amount has been called and paid. Registered Office: St. Benet Chambers, Fenchurch Street.

Bath Electric Light Company, Limited. The annual return of this company, made up to the 15th inst, was filed on the 21st inst. The nominal capital is £25,000 in £10 shares. Seven shares are taken up, and £2 per share has been called and paid thereon, the paid up capital thus being £14. Registered Office: 2, Northumberland Buildings,

North Eastern Telephone Company, Limited.-The registered office of this company is situate at 25, Westgate Road, Newcastle-on-Tyne.

Portland Electric Light Company, Limited,-The annual return of this company made up to the 13th inst. was filed on the 23rd inst. The nominal capital is £45,000 in £5 shares. Seven shares are taken up and are fully paid. Registered office, 48, Osnaburgh Street, N.W.

Railway Automatic Electric Light Syndicate, Limited. The annual return of this company made to up the 13th inst. was filed on the 21st inst. The nominal capital is £10,000 in 400 shares of £25 each. The whole of which are taken up, 200 being considered as fully paid. Upon 200 shares the sum of £14 per share has been called, the calls paid amounting to £2,724, and unpaid to £76.

Electrical Purification Association, Limited.-The annual return of this company made up to November 28th, 1890, was filed on the 1st ult. The nominal capital is £25,000 in £1 shares. 14,825 shares are taken up, 5,000 of which are considered fully paid. Upon 98,255 the full amount has been called, the total of the calls paid being £9,725, and unpaid £100. Registered office, 22, Great George Street, Westminster.

CITY NOTES.

།་་

The Beginning of the End.-At the meeting of the Foreign Elmore Company yesterday to prevent an amendment to postpone the passing of the accounts for further consideration being passed, the directors had to vote, and then, amid cries of "officials," the numbers for the amendment came out 17 as against 21, or only five short of the number required to carry it. We are sorry that the meeting was held just as we were going to press and that we must therefore defer the full report until next week, but the chief points brought out at the meeting will be found appended.

Elmore's Foreign and Colonial Patent Copper Depositing Company, Limited.

The directors' report to the shareholders states "That in the latter part of 1890, the board disposed of the company's French patents to Elmore's French Patent Copper Depositing Company, Limited, and the Austro-Hungarian and German patents to Elmore's AustroHungarian Patent Copper Depositing Company, Limited, and an amount of £30,000 has been written off purchase of patents' account in respect of these sales.

151

"The French Company have secured the services of Mons: Eugène Secrétan, formerly manager of the Société des Metaux, as their general manager in France, and are very rapidly pushing on with their arrangements for the erection of their works at Dives, near Hayre, which, M. Secrétan reports, will be at work by the 1st July next. The Austro-Hungarian Company are also actively engaged in making their arrangements for the advancement of that company's operations, in both Austria and Germany.

"In order to cope with the large scale upon which the French company propose to manufacture, it was necessary to increase their working capital, and their directors agreed with this company that they should take up 6 per cent. debenture stock to the amount of £50,000, repayable in three years, with 5 per cent. premium. As large holders of shares in the French company, it was to the interest of this company to make such advance.

"At a recent meeting of the shareholders of the French company, it was considered that this debenture stock should be offered to the shareholders of the French company, as the feeling of the shareholders was that they should have an opportunity of subscribing for a portion of the said stock, and negotiations have taken place between the French company and this company, with the view to your directors agreeing to comply with the wishes of the shareholders, and accordingly a circular will shortly be issued to them in fulfilment of their wish. Your directors, however, have stipulated that their own shareholders should also have an opportunity of subscribing for this stock. Accordingly a form of application will be sent to you at the same time as they are issued to the shareholders in the French com

pany.

"The company's balance sheet and profit and loss account for the period embraced between the date of the company's formation on June 6th, 1889, and March 31st, 1890, were submitted and passed on December 29th. 1890, but were not generally circulated to the shareholders. The board now have the pleasure to append hereto these accounts, together with the balance sheet and profit and loss account for the nine months ending December 31st, 1890, showing a net profit at that date of £222,772 19s. 11d., after writing off the sum at which the patents sold stood in the account.

"Out of this sum, the directors on the 8th of December last, in respect of such profits, paid an interim dividend of £4 per priority share (less income tax), and they now have pleasure in recommending a further dividend of £1 per priority share, which will thus absorb £75,000.

"The balance left in hand is represented principally by debenture stock and shares of Elmore's French Patent Copper Depositing Company, Limited, and Elmore's Austro-Hungarian Patent Copper Depositing Company, Limited. which in our balance sheet are valued at par (the debentures at £100, and the shares at £2 each), whereas the shares stand at a higher price in the market, and are expected to rise considerably as the works advance.

The directors propose, with reference to the balance, either to realise these shares by means of the Trust Company, which the shareholders have already been informed of, or to distribute them as further dividend to the shareholders holding the priority and the founders' shares.

"These will be entitled, in accordance with the articles of association, to the following division, viz.: the priority shares to a further £5 per share, which would amount to £75,000, and one-fourth of the surplus then left, the founders' shares taking the remaining threefourths; or the directors, if the shareholders so desire, can retain the shares and divide the dividends as received by them.

"This company holds a large number of patents for working the Elmore process in various foreign countries, such as the United States, Belgium, Italy, Spain, Portugal, Sweden and Norway, Australia, Tasmania, New Zealand, India, Argentine Republic, Canada, Cape of Good Hope, Chili, Denmark, Switzerland, Turkey, and others, and as the merits of the invention have now been generally recognised, your directors anticipate being able to dispose of several more patents in the course of the present year. The arrangements with regard to the American Patents are so far advanced that a company is in process of being formed, and is expected to be brought out at an early date.

"Under the provisions of the company's articles, a third of the members of the board retire at the general meeting, to be held on the 29th inst., viz. :-Mr. William Elmore, Mr. George Holmes and John Macfarlan, and these gentlemen being eligible offer themselves for re-election.

"The accountants, Messrs. Pixley & Co, offer themselves for reelection as auditors of the company, and the board recommend a payment of 25 guineas as their remuneration for the nine months ending 31st December last.

"The directors congratulate the shareholders on the progress already made in developing the Elmore process, and the encouraging outlook for the results to be obtained therefrom. The favourable reports on the invention recently given by both English and French experts have satisfied the board that the opinion they originally formed as to the Elmore process being of very great value gives every indication of being realised. The directors, therefore, look for a continuous increase in the value of your property,"

The meeting of the company was held yesterday at the Cannon Street Hotel, Sir J. Morris in the chair.

The CHAIRMAN said he could congratulate shareholders on the realisation of the hopes held out by him at the last meeting of the company in October. He stated then that the directors had the fullest confidence in the value of the Elmore patents, and had declined to negotiate for the sale of foreign patents until the English company proved a success, which he considered had been fully proved. As shareholders were aware they had disposed of the patents for France, Austria, Hungary and Germany, and had acquireda con

152

siderable sum with which they paid £4 per share to the proprietary shareholders, and it was proposed now to pay another pound. They trusted to dispose of patents to two or three countries during the year and thus obtain a further sum of money to enable them to pay considerable dividends. The chairman then referred to the debentures taken over from the French Company.

After an amendment proposed by Mr. Hoster as to the distribution of profits, which was ruled by the solicitor as illegal,

A SHAREHOLDER asked how it was the directors failed to account, roughly, for £100,000 difference between the net and the gross profits.

The CHAIRMAN considered that after the work performed by the directorate during the year, it was rather hard to be taken to task on the subject of the report. The real explanation of the deficit was that £100,000 was spent in underwriting and the promotion of the other companies.

An amendment to postpone the accounts for further consideration was negatived by 21 to 17.

A full report will appear in our next issue.

Elmore's Austro-Hungarian Patent Copper Depositing Company, Limited.

On Friday last the first general meeting of the above-named company was held at Cannon Street Hotel. The chairman of the company, Sir John Morris, was not able to be present, the decease of a relative having called him away. Mr. JAMES Rock presided in his place.

The SECRETARY read the notice convening the meeting, and the three resolutions which were subsequently to be submitted to it, and which were as follow:

1. That the name of the company be changed to "Elmore's AustroHungarian Metal Company, Limited."

2. That article 84 of the Company's Articles of Association be rescinded, and that the following new article be inserted in lieu thereof:-"The qualification of a director shall be the holding of 200 shares of the company. A first director may act before acquiring his qualification, but shall in any case acquire the same within one month from his appointment; and unless he shall do so he shall be deemed to have agreed to take his said shares from the company, and the same shall be forthwith allotted to him accordingly.

3. That Article 107 of the Company's Articles of Association be altered by omitting the following words at the commencement thereof: "Notwithstanding anything in the last preceding article contained or any rule of law or equity to the contrary."

Mr. JAMES ROCK having explained the circumstances which had placed him in the chair, there was no need, he said, for him to explain what a statutory meeting was, but he would just say what it was not; it was not a meeting for business. Usually the shareholders and directors met face to face, the chairman made some statements, bowed, and the meeting was at an end. To-day, however, the directors had thought it wise to utilise the meeting by placing before it the resolutions that had just been read. He would, however, defer any reference to them till he had said a few words as to what the directors had done since they were entrusted with the management of affairs. The company was registered four months ago, and the board had met very frequently to get through the legal formalities necessary; for, of course, it was much easier to start a company in England to do business here than to start one abroad, especially when the business was based on a patent. They had had to go through formalities on account of the patent, and also to get a license to trade in the country. However, so far as England was concerned, everything was done, and all was going on well in Austria, but other difficulties arose, owing to Austro-Hungary being a double country; there were consequently double formalities to go through which greatly delayed them in getting through the earliest stages of the matter. They had not meanwhile been idle in getting on with the business. Their general manager and Mr. Stepney Rawson had been in Austria inspecting a number of sites for works, and under their advice the directors had decided on a remarkably good situation alike for raw material, transport, cheapness of fuel, and abundance of labour. They had the option of purchase. They had also a portion of their works being carried on through existing industrial agencies. With regard to Germany, they were aware that not long. after they had started the Austro-Hungarian Elmore Company they had an opportunity of acquiring the German wire patent and other rights in that country. This was a great piece of good fortune, for Germany offered a larger field than Austro-Hungary, and he hoped that they would make even better progress there. At present they were in close negotiation-indeed, almost at the completion of negotiationsfor a very large and suitable manufactory built for factory purposes on an exceedingly good site, alike for transport and other purposes. It was a new building, a portion of it not being quite finished, and had water-power of 550 H.P., the turbines being new, and all perfectly fitted with the gear belonging to them. Indeed, it had everything necessary for their purposes, and Mr. Elmore was now in Germany completing arrangements, and obtaining the necessary plant, dynamos, and other machinery for the Elmore process. They had not, as the French company had, M. Secretan to assist them. They had no Hercules to call on, like the wagoner in the old fable; but they would put their own shoulders to the wheel, and if they did not beat the French company in the time of getting to work, they would, at any rate, run a good second. With regard to the process itself as was known to them, it was the manufacture of copper articles, taking them from the raw material up to the finished stage by an almost automatic process. He had seen it himself, and he was sure that a more beautiful process was never invented. Dr. John Hopkinson had

tten in the strongest terms, and they had the more prac

[JANUARY 30, 1891.

re

tical testimony of M. Secretan, against whose abilities in gard to copper manufacture no one could say a word. He wanted to say something as to the position of the company in regard to finance. They had allotted fifty thousand shares, and they were very largely paid up, better than could have been expected from the difficult financial times they had been passing through. The shares were allotted to about five hundred and eighty shareholders. Turning to the resolutions, the chairman said that the first one related to the alteration of the name of the company. This alteration could not be actually made unless it was approved by the board of Trade and the directors asked the shareholders to give them the power to make the alteration and leave to them the time when the name should be altered. He then moved the first resolution which was seconded by Mr. McFarlane and carried.

Continuing his speech the Chairman explained that the object of the other two resolutions was to obtain a special settlement on the Stock Exchange. He then moved these resolutions, they were seconded and carried, and the usual vote of thanks brought the meeting to a close.

Anglo-American Telegraph Company, Limited. ACCORDING to the last published report of the directors the total receipts from July 1st to December 31st, 1890, including the balance of £2,793 18s. 4d. brought forward from the last account, are estimated at £161,986 14s. 2d. This amount, however, is subject to revision, as the law suit between this company and the Paris and New York Telegraph Company is still pending before the Council of State.

The traffic receipts show an increase of £3,027, as compared with the corresponding period of last year.

The total expenses of the half-year, including repair of cables, &c., as shown by the revenue account, amount to £56.142 6s. 11d. Interim dividends of 15s. per cent. on the ordinary stock, and £1 10s. per cent. on the preferred stock, were paid on November 1st last, absorbing £52,500, leaving a balance of £53,344 7s. 3d., out of which the directors recommend the proprietors to declare final dividends of 158. per cent. on the ordinary stock, and £1 10s. per cent. on the preferred stock, amounting to £52,500, making a total distribution for the year ended December 31st, 1890, of £2 17s. 6d. per cent. on the ordinary stock, and £5 15s. per cent. on the preferred stock, leaving £844 78. 3d. to be carried forward to the next account.

The company's repairing ss. Minia has been engaged during the past half-year in the repair of the Northern Placentia cable and was previously chartered to the Direct United States Cable Company.

The vessel has been undergoing necessary repairs, and not being available when a serious fault appeared in the Brest-St. Pierre cable, near Brest, the directors took advantage of the Eastern Telegraph Company's ss. Mirror being in the neighbourhood to obtain her services, and the repair was promptly and satisfactorily effected by that ship.

The company's cables and land lines are in good working order.

The directors greatly regret to announce the resignation through failing health of their valued colleague, Viscount Monck, who has occupied the position of chairman, with great advantage to the company, since 1873.

The board unanimously elected the Marquis of Tweeddale as chairman and Mr. F. A. Bevan as deputy-chairman.

The vacancy on the direction created by the retirement of Lord Monck, has been filled by the appointment by the Board of Sir Albert J. Leppoc Cappel, K.C.I.E., formerly Director General of Telegraphs in India.

In accordance with the articles of association, two directors of the Company, the Marquis of Tweeddale and Cyrus W. Field, Esq., retire at this meeting, and, being eligible, offer themselves for re-election. Mr. Joshua Dean and Mr. John Gane, F.C.A., the auditors, retire, and offer themselves for re-election.

The Electricity Supply Company for Spain, Limited. -This company invite applications to Messrs. Martin & Co. for an issue of £75,000 in 6 per cent. mortgage debentures at 98, which will be secured by a first mortgage (in favour of trustees) on the company's freehold land, buildings and machinery, and by a floating charge on all the company's other property.

Western Union Telegraph Company.-The numbers are announced of seven bonds of £200 each and six bonds of £100 each of the 6 per cent. sterling loan, to be paid off on and after 2nd March next, at the office of Messrs. Morton, Rose & Co., Bartholomew Lane, E.C.

Woodhouse and Rawson.-An extraordinary general meeting of Woodhouse and Rawson United, Limited, was held this week at 88, Queen Victoria Street, E.C., at which a resolution passed at an extraordinary general meeting of the company, held on the 9th day of January, and reported in our issue of January 16th, for the creation of fresh capital was confirmed.

TRAFFIC RECEIPTS.

The Brazilian Submarine Telegraph Company, Limited. The traffic receipts of the Brazilian Submarine Telegraph Company, Limited, for the week ended January 23rd, 1891, amounted to £6,367. 1

The Western and Brazilian Telegraph Company, Limited. The receipts for the week ending January 23rd, 1891, after deducting 17 per cent. of the gross receipts payable to the London Platino-Brazilian Company, wele £5,195.