The scheme of Mr. Gisborne had commended itself to Mr.
Matthew Field, and he urged his brother to meet that gentleman and hear
his statements. Mr. Cyrus Field at once declined to undertake any share
in the enterprise, and said that it would be useless for him to meet Mr.
Gisborne; but his brother was so urgent that he at last consented to
grant Mr. Gisborne an interview, and at least hear what he had to say.
At the appointed time, Mr. Field received Mr. Gisborne at his house, and
was there made acquainted with the proposed plan of operations of the
"Electric Telegraph Company of Newfoundland." This company had gone into
bankruptcy a short time previous, but Mr. Gisborne hoped to be able to
revive it by the aid of American capital. The scheme which he laid
before Mr. Field, can not be better stated than by quoting the following
extract from the charter which the Legislature of Newfoundland had
granted the bankruptcy company:
"The telegraph line of this company is designed to be strictly an
'Inter-Continental Telegraph,' Its termini will be New York, in the
United States, and London, in the Kingdom of Great Britain; these points
are to be connected by a line of electric telegraph from New York to St.
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