The Express.
London, England, 1859-04-15 00:00:00

APRIL 15, 1859.

THE RUSSIAN LOAN.

In antieiFeatien of the receipt of the Imperial
Maas sanctioning the Russian loac—a document
which hes already been honed in St. Petersburg—we
have been furnished with an explanatory statemt nt
of the conditions of the loan. They accord with the
details given in the Express of the Bth and oth
inst., and are as follows :

" By.Ukue of his Majesty the Emperor of Russia,
the emission of a loan of twelve million pounds
sterling, 3 per cent. stock, has been conceded to
Messrv. Thomson, Boner, and Co., of St. Peternburg,
and to Mr. F. Mart Magnus, of Berlin.
" For this loan, bonds ' to bearer,' inscribed in the
great book of the public debt of Rusts, will be
issued, each of one hundred pound. sterling, and
bearing three pounds per cent. per annum interest
from the 19th April 0.5., let May n.s., 1869.
"To the bonds will be attached warrants or cou-
pons for the half-yearly dividends of 11. 103. each
annul, payable on the Ist November, n.v., and Ist
May, nal., at the office of J. 'lhomson, 'l'. Boner,
and Co., in London, or in dialers on tits same dates
by F. Mart Magnus in Berlin.
" The terms and conditions of payments in London
are as follows : _ . .

"16 per cent. or 1601. deposit on the 10th May for
every 1,0001., against scrip receipt*.
" 7 per cent. or 701. for every 1,0001. most be paid
on the 20th Jane, and one bond of 1001. will be de-
livered.

" 13 per cent. or 130/. for every 1,0001. must be
paid on the 10th August, and two bonds will be
delivered, each of 1001.
" 13 per cent. or 1301. for every 1,0001. must be
paid on the 2nth Ropternhow, awl two bonds will be
delivered, each of 1001.
" 7 per cent. or 701. for every 1,0001. mut be paid
on the 6th November, and one bond will be delivered
of 1001.

"The remainder must be paid on the 20th De-
cember, 1859, when the scrip receipt for the deposit
made 10th May will have to be given up, and the
last four bonds will be delivered—making in all ten,
each of 1001. and amounting to 1,0001.
" The failure to pay any instalment at the ap-
pointed date will forfeit the deposit made on and
cancel the scrip receipt.
"Subscribers may pay up all or any of the instal-
ments, under discount of the respective maturities, at
the rate of 3 per cent. per annum.
"The dividend warrants of it. 10s. due on the let
November will be received in payment of the in-
stalments falling due after that date.
" In the event of hostilities, or such grave political
complications occurring u shall cause the existing
Russian Four-and-a-Half per Cent. Stock to fall to
94 per cent on the London Exchange, the payment
of future instalments may be deferred without pre-
judice to the subscribers, until the cause of such de-
cline and its effects shall have pawed; but should
this state of things be prolonged, the subscribing
I parties shall be at liberty at the expiration of eight
months, say on the 31. st December, to demand bonds
for the whole amount of the sum paid by them, and
be liberated from further payment.
"The Imperial Russian Government will assign a
special fund for the annual redemption of this loan
of 1h per cent. per annum of the nominal capital to
be invested in the open market."
The formal announcement of the loan will proba-
bly take place some days hence, upon the arrival of
the full powers. It will be remarked that no prise
is mentioned in the above statement ; but it is known
that subscriptioes for considerable sums have been
made It St. Petersburg upon condition of the price
not exceeding 89; and as this figure is also men-
tioned from Paris, it is not likely to be exceeded in
the London subscription. An advantage of fully 1
per cent., however, is presented in the delay in the
payments, whilst the full dividend will be accruing.