exceed fourteen per cent., which would have made the total
cable laid between Valentia and Heart's Content nineteen hundred
miles.

7. That the present Atlantic cable, though capable of bearing a
strain of seven tons, did not experience more than fourteen
hundred-weight in being paid out into the deepest water of the
Atlantic between Ireland and Newfoundland.

8. That there is no difficulty in mooring buoys in the deep water
of the Atlantic between Ireland and Newfoundland, and that two
buoys even when moored by a piece of the Atlantic cable itself,
which had been previously lifted from the bottom, have ridden out a
gale.

9. That more than four nautical miles of the Atlantic cable have
been recovered from a depth of over two miles, and that the
insulation of the gutta-percha covered wire was in no way whatever
impaired by the depth of water or the strains to which it had been
subjected by lifting and passing through the hauling-in apparatus.

10. That the cable of 1865, owing to the improvements introduced
into the manufacture of the gutta-percha core, was more than one
hundred times better insulated than cables made in 1858, then
considered perfect and still working.

11. That the electrical testing can be conducted with such unerring
accuracy as to enable the electricians to discover the existence of
a fault immediately after its production or development, and very
quickly to ascertain its position in the cable.

12. That with a steam-engine attached to the paying-out machinery,
should a fault be discovered on board whilst laying the cable, it
is possible that it might be recovered before it had reached the
bottom of the Atlantic, and repaired at once.

It was now placed beyond the possibility of a doubt that the cable would
be laid within the next year. More than this, it was determined not only
to lay a new cable between the two continents, but to fish up the cable
of 1865, splice it and continue it to Newfoundland, thus giving the
company two working lines.

It was necessary, however, to raise more capital, and in this effort Mr.
Field again put forth his restless and indomitable energies. As the
public confidence in the scheme had been effectually restored, it was
resolved to raise six hundred thousand pounds of new capital by the
issue of one hundred and twenty th