From Elektron to e’ commerce 150 years of laying submarine cables
Serialised from the book by kind permission of Global Marine Systems Ltd. Compiled and edited by Stewart Ash
Part 2 The Telegraph Era 1856-1956 The Great Enterprise Begins The first great adventure in the story of long distance submarine cable communications was the laying of the cable across the Atlantic. This has since been described as the Victorian equivalent of the Apollo moon landing project, due to its great cost and technological sophistication. This parallel gives us a good sense of the amazing nature of this project and its world-changing effect. As with most major capital undertakings, the key incentives for laying an Atlantic telegraph cable were economic. The growing export industry of the 1850s in Britain made it ripe for improved international communications. This boom helped to encourage industrialists and entrepreneurs with access to capital and technology, turn their visions into reality. The London banker needed to know the state of the stock exchanges
in Paris and New York. The Liverpool shipper gained considerably if he could communicate with his ship’s captain in Singapore about the commodities available and their prices. The atmosphere was conducive to change and development of the most radical kind. The Atlantic cable was one such radical idea. Following the formation of the Atlantic Telegraph Company, activity was intense. Firstly, the £350,000 required to fund the project had to be raised. No prospectus was published, no advertisements were made and, at the outset, there was no Board of Directors or officers of the company. The fundraising began in Liverpool on 12th November 1856 following the issue of a short notice by Mr Edward Bright. This notice brought the scheme to the attention of the foremost traders and businessmen of the city. Cyrus Field, John
Brett and Charles Tilston Bright spoke and inspired the audience to hand over their money! The first subscribers were Charles Tilston Bright, the Mayor of Liverpool and Mr Charles Pickering of Messrs Schroder. Many others soon followed them. Similar meetings were held in Manchester, Glasgow and London. Within just a few days the £350,0000 had been raised through the issue of 350 shares of £1,000 each. The shareholders included George Peabody, better known today as the philanthropist who provided (and who through his trust still provides) good public housing in London. Two other names stand out because of the influence they were to have on the future development in international communications. One was the Manchester-based cotton merchant and entrepreneur John Pender, who was already a Director of the Magnetic Company. The other was Professor William Thomson of Glasgow University. His work on the operating equipment for submarine cables was key to the development of the industry.
A Glorious Failure The construction of the Atlantic cable began in February 1857. The job of making the core was given to the Gutta Percha Company of London. The outer sheathing of the cable was divided equally between Glass, Elliot & Company of Greenwich and R S Newall & Company of Birkenhead. This was a practical solution as the cable was to be laid in two main sections by two 33