The directors also gave notice that they intended to seek authority from the shareholders to issue such amounts of new capital as may be required for the construction and laying of a second Atlantic Telegraph Cable under powers of their Act of Parliament, and to attach to such capital such privileges and such advantages and conditions as might be determined. The Right Hon. J. S. Wortley, chairman, who has exhibited unshaken confidence and untiring energy in the post he occupies, had a difficult task before him, but even then he could exhort his hearers to courage and perseverance. As he well said, “But there are two things from which we may derive considerable consolation. This great enterprise has been the subject of discussion in every civilised nation in the world. The eyes of science have been fixed upon it; and the acuteness of criticism has been brought to bear on it. We have had our detractors, and there have been sceptics; and what are the two main points on which they have founded their scepticism? One is, that the great depth of nearly three miles must bring extraordinary pressure on the Cable, must injure it by perforating the covering, and must in fact destroy the insulation. The other point was the impossibility, as they contended, of communicating intelligible signals through so great a length, or ‘leap’ as they term it, as 1,600 miles. But we had a scientific committee, who made experiments, and who assured themselves that there was nothing in either of those objections; and now we have in addition the much more practical and valuable proof of experience. What are the facts? Some days before the interruption of the messages the Great Eastern passed over the deepest portion of the ocean (with one slight exception) which we have to traverse between Europe and America. She passed safely over a depth of 2,400 fathoms, telegraphing perfect signals. This entirely disproves and refutes the first objection and doubt which existed in the minds of those sceptical gentlemen, because the Cable was laid in great depths, varying from 1,500 to 2000, fathoms, and even in 2,400 fathoms; and so far from the great pressure at that depth injuring the Cable, the Company’s signals appear from their telegrams to have improved every yard they went; and the signals through 2,400 fathoms of water were as perfect as, if not more perfect than, those at a less depth. That is in confirmation of the old Cable having worked at those depths. Then I say that our scientific committee, and those who said that the pressure would not have an injurious effect, have been fully borne out; and that the result has proved that, so far from injuring it, pressure improves the Cable. In spite of these facts, I see here a communication from a gentleman to one of the public journals only yesterday, in which he says, that looking at the pressure of a column of water equal to so many atmospheres, it must destroy the Cable; and he adds with confidence,