The rejoicing reached a climax in September, when a public service was held in Trinity Church, and Mr. Field, the hero of the hour, as head and mainspring of the expedition, received an ovation in the Crystal Palace at New York. The mayor presented him with a golden casket as a souvenir of 'the grandest enterprise of our day and generation.' The band played 'God save the Queen,' and the whole audience rose to their feet. In the evening there was a magnificent torchlight procession of the city firemen. That very day the cable breathed its last. Its insulation had been failing for some days, and the only signals which could be read were those given by the mirror galvanometer.[It is said to have broken down while Newfoundland was vainly attempting to inform Valentia that it was sending with THREE HUNDRED AND TWELVE CELLS!] The reaction at this news was tremendous. Some writers even hinted that the line was a mere hoax, and others pronounced it a stock exchange speculation. Sensible men doubted whether the cable had ever 'spoken;' but in addition to the royal despatch, items of daily news had passed through the wire; for instance, the announcement of a collision between two ships, the Arabia and the Europa, off Cape Race, Newfoundland, and an order from London, countermanding the departure of a regiment in Canada for the seat of the Indian Mutiny, which had come to an end. Mr. Field was by no means daunted at the failure. He was even more eager to renew the work, since he had come so near to success. But the public had lost confidence in the scheme, and all his efforts to revive the company were futile. It was not until 1864 that with the assistance of Mr. Thomas (afterwards Lord) Brassey, and Mr. (now Sir) John Fender, that he succeeded in raising the necessary capital. The Glass, Elliot, and Gutta-Percha Companies were united to form the well-known Telegraph Construction and Maintenance Company, which undertook to manufacture and lay the new cable.