The Economics of Owning the First Transatlantic Cable

What would you risk to finance a cable across the Atlantic—and what would it take for that cable to become a dependable business? Follow the Atlantic Telegraph Company’s shareholders through capital calls, a broken first attempt, the brief operation of the 1858 cable, and the difficult decisions that followed. Later records show the move toward working service, but do not establish that every later operation belonged to the original company. Chapters: 00:00 Would You Invest in an Atlantic Cable? 00:33 Subscribed Capital Is Not Cash 01:40 Cable, Ships, and Public Support 04:00 The First Attempt Breaks 05:31 Another Reserve, Another Financing Decision 08:55 The 1858 Cable Reaches Shore 11:18 What the Company’s Accounts Show 12:55 The Decision to Risk More Capital 14:34 Testing and Repair at Sea in 1865 16:06 From Crossing to Communications Service #OwningHistory #TransatlanticCable #AtlanticTelegraph #History