The Story of the Atlantic Telegraph. Field Henry Martyn

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СКАЧАТЬ men, they went to work, not only in London, but in other parts of the kingdom. Mr. Field, in company with Mr. Brett, made a visit to Liverpool and Manchester, to address their Chambers of Commerce. I have now before me the papers of those cities, with reports of the meetings held and the speeches made, which show the vigor with which they pushed their enterprise. This energy was rewarded with success. The result justified their confidence. In a few weeks the whole capital was subscribed. It had been divided into three hundred and fifty shares of a thousand pounds each. Of these, a hundred and one were taken in London, eighty-six in Liverpool, thirty-seven in Glasgow, twenty-eight in Manchester, and a few in other parts of England. The grandeur of the design attracted public attention, and some subscribed solely from a noble wish to take part in such a work. Among these were Mr. Thackeray and Lady Byron. Mr. Field subscribed £100,000, and Mr. Brett £25,000. But when the books were closed, it was found that they had more money subscribed than they required, so that in the final division of shares, there were allotted to Mr. Field eighty-eight, and to Mr. Brett twelve. Mr. Field's interest was thus one-fourth of the whole capital of the Company.

      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.

      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 £10,000, and Mr. Lampson £2,000. 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.

      The Company being thus in working order, proceeded to make a contract for the manufacture of a cable to be laid across the Atlantic. For many months the proper form and size of the cable had been the subject of constant experiments. The conditions were: to combine the greatest degree of strength with lightness and flexibility. It must be strong, or it would snap in the process of laying. Yet it would not do to have it too large, for it would be unmanageable. Mr. Brett had already lost a cable in the Mediterranean chiefly from its bulk. Its size and stiffness made it hard to unwind it, while its enormous weight, when once it broke loose, caused it to run out with fearful velocity, till it was soon lost in the sea. It was only the year before, in September, 1855, that this accident had occurred in laying the cable from Sardinia to Algeria. All was going on well, until suddenly, "about two miles, weighing sixteen tons, flew out with the greatest violence in four or five minutes, flying round even when the drums were brought to a dead stop, creating the greatest alarm for the safety of the men in the hold and for the vessel." This was partly owing to the character of the submarine surface over which they were passing. The bottom of the Mediterranean is volcanic, and is broken up into mountains and valleys. The cable, doubtless, had just passed over some Alpine height, and was descending into some fearful depth below; but chiefly it was owing to the great size and bulk of the cable. This was a warning to the Atlantic Company. The point to be aimed at was to combine the flexibility of a common ship's rope with the tenacity of iron. These conditions were thought to be united in the form that was adopted.11 A contract was at once made for the manufacture of the cable, one half being given to Messrs. Glass, Elliot & Co., of London, and the other to Messrs. R. S. Newall & Co., of Liverpool. The whole was to be completed by the first of June, ready to be submerged in the sea. The company was organized on the ninth of December, and the very next day Mr. Field sailed for America, reaching New York on the twenty-fifth of December, after an absence of more than five months.

      CHAPTER VII.

      SEEKING AID FROM CONGRESS

      When Mr. Field reached home from abroad, he hoped for a brief respite. He had had a pretty hard campaign during the summer and autumn in England, and needed at least a few weeks of rest; but that was denied him. He landed in New York on Christmas Day, and was not allowed even to spend the New Year with his family. There were interests of the Company in Newfoundland which required immediate attention, and it was important that one of the Directors should go there without delay. As usual, it devolved upon him. He left at once for Boston, where he took the steamer to Halifax, and thence to St. John's. Such a voyage may be very agreeable in summer, but in mid-winter it is not a pleasant thing to face the storms of those northern latitudes. The passage was unusually tempestuous. At St. John's he broke down, and was put under the care of a physician. But he did not stop to think of himself. The work for which he came was done; and though the physician warned him that it was a great risk to leave his bed, he took the steamer on her return, and was again in New York after a month's absence – a month of hardship, of exposure, and of suffering, such as he had long occasion to remember.

      The mention of this voyage came up a year afterward at a meeting of the Atlantic Telegraph Company in London, when a resolution was offered, tendering Mr. Field a vote of thanks for "the great services he had rendered to the Company by his untiring zeal, energy, and devotion." Mr. Brooking, the Vice-Chairman, had spent a large part of his life in Newfoundland, and knew the dangers of that inhospitable coast, and in seconding the resolution he said:

      "It is now about a year and a half ago since I had the pleasure of making the acquaintance of my friend Mr. Field. It was he who initiated me into this Company, and induced me to take an interest in it from its earliest СКАЧАТЬ