One of these to whom Mr. Field now went for counsel, was Mr. (afterward Sir) Daniel Gooch, M.P., a gentleman well known in London, as one of the class of engineers formed in the school of Stephenson and Brunel, who had risen to the position of great capitalists, and who, by their enterprise and wealth, had done so much to develop the resources of England. He was Chairman of the Great Western Railway, and had more faith in enterprises on the land than on the sea. It was a long time before he could believe in the possibility of an Atlantic Telegraph. Though a man of large fortune, and a personal friend of Mr. Field, the latter had never prevailed on him to subscribe a single pound. But he went out on the expedition of '65, as chairman of the company that owned the Great Eastern; and what he then saw convinced him. He came back fully satisfied; he knew it could be done, and was ready to prove his faith by his works. Consulting on the present difficulty, he suggested that the only relief was to organize a new Company, which should assume the work, and which could issue its own shares and raise its own capital. This opinion was confirmed by the eminent legal authority of Mr. John Horatio Lloyd. To such a Company Mr. Gooch said he would subscribe £20,000; Mr. Field put down £10,000. Next, he betook himself to that prince of English capitalists, Mr. Thomas Brassey, who heard from his lips for the first time, that the affairs of the Atlantic Telegraph Company had suddenly come to a standstill. At this he was much surprised, but instantly cheered his informer by saying: "Don't be discouraged; go down to the Company, and tell them to go ahead, and whatever the cost, I will bear one tenth of the whole." Who _could_ be discouraged with such a Richard the Lion-hearted to cheer him on? Meetings were called of the Directors of both the Atlantic Company and the Telegraph Construction and Maintenance Company; and frequent conferences were held between them. The result was the formation of a new company called the Anglo-American Telegraph Company, with a capital of £600,000, which contracted with the Atlantic Company to manufacture and lay down a cable in the summer of 1866, for doing which it was to be entitled to what virtually amounted to a preference dividend of twenty-five per cent: as a first claim was secured to them by the latter company upon the revenue of the cable or cables (after the working expenses had been provided for) to the extent of £125,000 per annum; and the New-York, Newfoundland, and London Telegraph Company undertook to contribute from its revenue a further annual sum of £25,000, on condition that a cable should be at work during 1866; an agreement to this effect having been signed by Mr. Field, subject to ratification by the Company in New York, which was obtained as soon as the steamer could cross the ocean and bring back the reply.