It is proposed to lay a Cable, 563 miles in length, from Singapore, the terminus of the British- Judian Extension Telegraph Company, to Batavia, from whence the Dutch Lines extend to the south- eastern extremity of Java. From this point in Java, the second section, consisting of a Cable 1,163 miles in length, will be laid to Port Darwin in Australia touching at Timer. From Port Darwin to Burketown in Queensland, a distance of 800 miles, a Land Line will be constructed to connect this Company's Cable with the Telegraph system of Queensland, New South Wales, Victoria, South and Western Australia, and Tasmania. Soundings have been taken along the whole route and are perfectly satisthetory. A Contract has been entered into with the Telegraph Construction and Maintenance Company on the usual conditions of their Contracts for the manufacture and laying by the latter of the Cables required, and the construction of the Australiau Land Line. The Contract includes Stations, Station Fittings and Instruments, and the Contractors are to transfer to the Company the steam ship "Inves- tigator," with her tanks and machinery as a maintenance ship.
The Telegraph Construction and Maintenance Company also guarantee interest at the rate of ccat, per annum upon the paid-up capital of this Company, payable half-yearly until the date fixed for the opening of the entire Line.
5
per
The Contract price is £634,000, of which £120,000 is to be taken in fully paid shares--£20,000
on the shipment of the Cable, and £100,000 to be reserved until the Company's Engineer has certified that the Line has been completed in good working order.
Upon this certificate £50,000 will be paid, and the remaining £50,000 will be retained until the Cables have continued in working order for 30 days.
The Cables and Land Line are to be complete in 1871.
This Company has acquired the right to purchase for £70,000, within one year after the Line to Burketown is completed, the Telegraph Cable recently land, and now working between Melbourne and Tasmania and upon which the Tasmanian Government guarantee £4,200 per annum on the terms stated in the Contract with that Government, of which a copy may be seen at this Company's Office. The Land Lines in Java which are proposed to be used for this Company's traffic are in a very efficient state, and negotiations are in progress with the Dutch authorities for landing this Com-- pany's Cables at Java, and Timor, and for a tariff for messages passing over the local Dutch Tines. In the improbable ease of the Dutch Government not granting the facilities asked for, it is intended to raise suh additional Capital as may be requisite for establishing a direct Line to Australia, by Cable from Singapore to Port Darwin. The Congact, with the Telegraph Construction and Maintenance Company, contains the necessary provisions for effecting these alterations of route.
The Cables for this Company are to be of a similar type to those of the British-Indian Extension,. and China Submarine Telegraph Companies.
The Traffic arrangements entered into with the Falmouth Gibraltar and Malta, the Anglo- Mediterranean, the British-Indian Submarine, and the British-Indian Extension Telegraph Companies, provide that these Companies shall allow the same rebate upon their through rate on all messages forwarded over their Lines and this Company's Cables from or to the Dutch Possessious, Australia, Tasmania, and New Zealand, as they have granted to the China Submarine Telegraph Company.
The rate which, on through Messages, will, according to the intended Tariff, belong to this. Company, is £2 10s. per Message of twenty words between Australia and England, and £1 1s. between the Dutch Islands and this country.
It is calculated that twenty Messages cach way may be expected daily from Java and the surrounding Dutch Islands, and sixty-five Messages each way, at the outset, from the Australian Colonies.
The annual revenue of the Ling, reckoning each Message at thirty words (this being the average. length on the Anglo-Mediterranean and other Lines), and assuming 330 working days may be estimated as follows:-
The following is a copy of the Memorandum of Association :----
1. The name of the Company is "THE BRITISH AUSTRALIAN TELEGRAPH COMPANY Løveren,”
2. The registered Office of the Company is to be in England.
3. The objects for which the Company is established are:-
The contracting for, constructing, acquiring, leasing, maintaining, dealing with, and working lines of Telegraph between the Straits of Malteca, Singapore, or the Malay Peninsula, and the Australian Continent, Tasmanin, and New Zealand, and any places or points in or adjacent or near thereto respectively, or forming or intended to form part or parts of any telegraphic route or routes between those places, or any of them, aud (as and when authorised by extraordinary meetings of the members) branches from and extensions of any of those lines to suck countries or places as the Company think fit; the establishment of Telegraphi stations, and, generally, carrying on the business of a Telegraphi Company; the applying for, acquiring, selling, leasing, using, and disposing of such lands, Telegraph Lines, vessels, concessions, leases, privileges, licenses, and lettera patent, and any shares or interest therein respectively, as may be useful or desirable for the purposes aforesaid, or any of them; the doing of all or any of those makters or things in conjunction with any other Company or person; the registration or constitution of the Company abroad as a Société Anonyme or otherwise; the subscribing for and acquiring shares of, or amalgamating with and sharing in the business or undertakings of any other Telegraph Company or Companies, and the making and carrying into effect of working traffic and other agreements with Governments, Railway, Steamboat, Postal, Telegraph, and other Companies and authorities, and the doing of all such other things as ure incidental or conducive to the attainment of the above objects.
4. The liability of the Members is limited
5. The capital of the Company is £660,000, iu 66,000 shares of £10 each.
The following contructs have been entered into:--
3rd January, 1870.---Articles of Contract between the Telegraph Construction and Maintenance Company Limited and Reduced of the one part, and the British Australian Telegraph Company Limited of the other part.
3rd January, 1870.--Agreement between the Falmouth Gibraltar and Malta Telegraph Company Limited, the Anglo-Mediterranean Telegraph Company Limited, the British-Indian Submarine Telegraph Company Limited, and the British-Indian Extension Telegraph Company Limited, of the one part, and the British Australian Telegraph Company Limited of“ the other part, comprised in Letters of this date.
Jo.
THE
BRITISH-AUSTRALIAN TELEGRAPH COMPANY LIMITED.
GENTLEMEN,
FORM OF APPLICATION,
To be retained by the Bankers.
To the Directors of The BRITISH-AUSTRALIAN TELEGRAPH COMPANY LIMITED.
Share,
Having paid to your Bankers the sun £
being a Deposit of £1 per I request that you will allot me
Shares of £10 each, in your Company, upon the terms of the Prospectus and Memorandum and Articles of Association; and I hereby agree to accept the said Shares, or any smaller number which you may allot to me, and to become a Member of the Company, and I request you to place my natie on the Register of Members in respect of the Shares which may be allotted to mo.
I am, Gentlemen,
Your obedient Servant,
Name in full.
Address in full
Date
January, 1870.
Messages froin and to Java, &c. Messages from and to Australasia
Together
Deducting £15.000 Reserve Fund, and £45,000 for working
expenses and maintenance
There remains an Annual Profit of
*
£ 20,790
180,875
181,665
60.000
£121,665
Being upwards of 18 per cent, upon the Capital, exclusive of Local and Chinese traffic.
Copies of the Memorandum and Articles of Association and Contracts, cau be seen at the offices of the Solicitors of the Company, Messrs. Freshfields, 5, Bank Buildings, E.C,, or at the offices of the Company.
Be My
Applications for Shares on the accompanying form should be left at the Company's Bankers. The Deposit will be returned if no Allotment is made, and if an Allotment is made, will be applied ou account of the amount payable ou the Shares allotted.
The Deposits and any subsequent payments will be liable to forfeiture if any instalment on the Shares is not duly met.
The Subscription Lict will close on Thursday, the 6th instant, for Loudon, and on Friday, the 7th, for the Country.
3rd January, 1870.
Jo.
THE
BRITISH-AUSTRALIAN TELEGRAPH COMPANY LIMITED.
BANKERS' RECEIPT.
To be retained by Applicant.
Beceived the
day of January, 1870, on account of THE BRITISH-
AUSTRALIAN TELEGRAPH COMPANY LIMITED, from
the sum of
pounds, being a Deposit of £1
per
Share
on application for
Shares of £10 each.
For the CosSOLIDATED BANK LIMITED.
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190
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