The Express.
London, England, 1862-04-10 00:00:00

TWOPENC:

taming forty or fifty separate designs. Each line
sad point in these mechanical sketches has to be
clearl7 marked, and no room is left for gaining
artistic effect by bold and slovenly dashes wf the
pencil.
The eastern dome, we believe, from the day of
opening, will have a canes sienume stretched across
its dram-head. This will protect the beads of the
performers from any glass that may fall, if the con-
cussion of so many instruments should have the
effect anticipated. Verdi's music for the opening
day includes a vocal solo, and no one seems to know
the Binger with lungs strong enough to ring it
through the building. The score will perhaps be
altered for a cornet or an opbicleide.
Distinguished Tifton arp now daily shown over
the building by the commissioners or members of
their staff. On Tuesday Lord and Lady Palmerston
spent an hour in going through the maze of packing-
cases, half-erected trophies, and hammering car-
p,anters, ~and wen well satisfied with their visit.
YerigiatiaT the great azalea show of the Horticul-
tural Society took plaiee, and this attracted.* large
crowd to South Kensington in spite of the wife-
.vonrable ireadear.

TEE EGYPT AILS LOAN AND TB* BASK
OF SAX" MEININGEN.

regard''auttalecf and banei Ese red bees etaillPilderte of with
=agreement concluded through the Bank of San.
gen. 'lt may be useful, therefoce, to give
the following official statement, 'widen bon been.
forwarded to us for publication :
"The Viceroy of Eupt has made a contrart with'
the Bank of Base Meiningen by which be engages,
in consideration of a net sum of 1,600,0091. agreed
to be paid to him by the bank, to grant an annuity
of 176,0001. per annum payable half-yearly for
90 years, secured upon the revenues of tie Delta,
and represented by bonds, in which the Bnltsse's au-
thority and the charge ars to he set forth. The bonds
are tobeforthe nominal sum of 2195,2001., and are
offered by the Bank of Saxe Meiningen, through
the agency of Messrs. Frithling and Goschen, to the
public at 82} per cent. The sum to be paid for the
bonds will therefore amount to 1,11/1,0401., as
stated in the proepealus, lees the deduction of the
discount granted to the publio. Out of this sum
the Bank of Saxe Meiningen has to provide;for ail
the expenses connected with the negotiation of the
loan during six months, and the commisaions paid,
both in ,pty Turkey, and London. A fable is
referred to in the contract showing that thelbonds
aro to be for the sin of 2,196,2001., and that
the payment of 176,0001., to be made half,yearly
for 30 yearst will repay the whole of the bonds at
par with interest during that peried. It
will be seen that these facts entirely bear
out the representations contained in the prospectus.
It is undoestood that objection was firet enter-
tained on the ground that the interest and . amor-
tizement fund were to be paid through the
Bank of Saxe Meiningen ; but the contract
permitted the substitution of a London house, and
the bank have agreed with Messrs. Frithling and
Meehan that the half-yearly remittances snail be
made direct to them from the viceroy." •
We think we can disentangle this matter from
the mianinkretandlngs which have arisen.. The
simple facts are as follows :—Some six or nine
months ago the Bank of Saxe Meiningen entered
into an absolute contract, d forfeit, with the Vice-
roy of Egypt, to lend him 40 millions of francs, or
1,800,0001. sterling. In consideration of this loan,
• the viceroy bound himself to pay an annuity of
176,0001, half-yearly for thirty yeses, and secured
upon special revenues. The Bank of Sane Meinin-
ra apply this sum to the interest and sinking
of a 7 per cent. loan, and the annuity of
176,0001. exactly suffices to meet the interest and
abider land on 2,196,1991. of 7 per oink stock.
mil aeocirdingly is the basis from which the trans-
lation starts, _as regards its introduction
ea the English market. The question. then
was, at what price should this 2,195,2001. of
stock be offered, so as at once to command • favour
ha the English market, and give a profit to the
Baia. Meaning's Bank, the pososesor of the loan
,centract. The prise of 82} per cent. was finally
fixed upon, and the result proves that the public
here were eager to compete for the stook at that
price. Now, 2,195,2001. of stock, at fin per cent.,
yields 1,811,0t01. sterling, instead of the 1,600,0001.
wnich the bank of Saxe Meiningen have bound
themselves to lend to the Viceroy. The difference
botwes• the two sums represents apparently the
Falb • to the bank on the transaction, but
subject to heavy deductions on account of
expenditure in Turkey, Bop; and London. After
allowing for all these, the margin of profit appears
to be an unusually large one, yet the fact remains
that after the Bank have got their portion out of
the affair the English public have been eager to
participate. The general security to the subscribers
appears to stand examination in every respect. In
particular, we may refer to the following points :
1. Each bond will be signed by the Viceroy or his
recognised financial representative. 2. The Viceroy
is bound to pay 176,0001. a year for thirty years,
which will suffice for 7 per oent. interest on the
whole 2,195,2001. of stock issued, and for the com-
plete redemption of the whole of the nominal
capital, within that period. 3. No portion of the
proceeds of the loan will be permitted to leave the
Bank of England until the Bonds shall have been
received, or until the receipt of the Viceroy for the
money shall come to hand. 4. By a new and satis-
factory arrangement all money, both for the in-
terest and sinking fund, is to be sent direct from
Egypt to Messrs. Frithling and Gbechen (instead of
through the medium of the Gorman bank), and the
requisite funds are to be in hand here two months
before they are needed. With these particulars we
are furnished from official sources by personal
inquiry. The fault in the prospectus, as it seems
to us, was a want of ingenuousness in not describing
explicitly the part taken by the Bank of Saxe
Meiningen, and the terms on which that establish-
ment acted. The obligation of the Viceroy, and
consequently the security of the subscriber, seem to
be clear enough.

Tau CELtI(CIERY VILOATION.—This day the Chau-
*my clime will be reopeoed, and will be closed text week
for Good Friday and the Seater noses.
MUTH OF • Panama IN Wierfinferza Iforres
or Oonicrfox.—Yesterday Ifr. St. Clare Bedford, the
coroner for Westminster, held an inquest at the House of
Gareenou, Tothill-lielik, as the body of Ann Johan's, aged
44. From the evidence dappeered that the deceased was
tried at the Central Court on the 7th of May,lB6o,
far uttering eountafelt es* and sentenced to two years'
inspriecameat. She had been in good health the whole of
the time until Saturday evening last, when she complained
of being peaty, and was eget to the infirmity. At two
&dock as the Sudsy mooning she complained of fantasia,
asd the augers was sent for, but in km than ten minutes
I she mewed to mid. Dr. Levies, the surgeon of the prison
stidthe anoamismeat of her death was the utmost sato:
- - - -

nielunent to him, and he was at • loes to account for it, aa
she was fat and retains., and her ailment appeared to him to
be very Algid indeed. He bad made a pog•niortent
exemdfaalice rit the bode, and found the whole of the
rime r& in • very healthy goodition except the heart.
width was itoseigetely empty of blood, and covered
thiskly with fat. BM died of syncope or fainting
littbat had she been put is • horizontal poultice, with
OA feet elevsted above the head, her life might possibly
bath hem saved, tatike was • thing that should be generally
knows. He minittowsil the case of General Pir George
Thornton witithhadoome wader bisownimrsoorlobservation.
HimmainepestMgWaiminster Abbey, w ebe was suddenly
seised with • faintness, and the attendants rested him
spirit me of the wham of the Abbey. He (Dr. lame)
a oast ordered him to be laid on the floor with his lop
L'ltrup, and in • abort tints therm so frx reeoveredea to
u...n, to We own reddens*. Had be (Dr. Levies)
not been there to give such directions, it we. his bells! that
In eft rinds more be would bare bon • naps. TV
id 'herok
exgrthed their Urals to Dr. Uri/s for thi
the* it rigid mein due publicity for the
of and Manisa • verdict "flat the deetimed
fed el • et the Moth'
Loam* lasermis. 0101L1178 001MilfIr (Lnn2.lo).
—Trans rpoolplo. we* Whig April 6, 11,3731. 10• 7(1.