The Sun.
London, England, 1862-09-17 00:00:00

711 E RUSSIAN LOAN.

he results of the Russian loan as regards the
nvesting public of this country have proved as
satisfactory as was anticipated. At the time of its
introduction the question was whether the super-
abundant money then seeking employment in Lon-
don should be directed into a channel of this kind,
or whether it should remain to glut the market,
and to enable the concoctors of new companies,
and especially of joint-stock banks, to continue to
an indefinite extent their prosperous trade. Happily
the public had no hesitation on the point, and a
subscription of £5,000,000, the full amount con-
templated as the English portion of the loan, was
promptly obtained. Of course, all the parties who
live by promotion-moneys, brokerages, &c., were
seriously affected by this turn of affairs ; but, as
they have no influence beyond their immediate cir-
cle, respectable capitalists and investers were wholly
uninfluenced by them, and were for the most part
totally unaware that any attempts had been made
to guard them against what were described to be
the terrible perils of trusting the Russian Govern-
ment, and to induce them to retain their means for
the variety of new and tempting shares that were in
process of preparation. As we now find that each
subscriber to the Russian loan can realize his pro-
perty at a fair premium if he should be disposed to
do so, while nearly all the companies that were in-
troduced about the same period are at a discount—
some of them to nearly the full amount originally
paid upon them—we may estimate what would
have been the ultimate fate of the scores of new
concerns that, but for the success of that loan,
would have been triumphantly pressed upon the
notice of sanguine purchasers. Those already upon
the market, and which have now so grievously
fallen in price, were, in nearly every case, at least
of a moderately respectable character ; but, the
field having been then so greatly occupied, the com-
peting flood of projects subsequently got up for the
mere sake of premiums would have been of a far
less reputable nature. The good of the Russian loan,
therefore, is to be calculated, not simply by its pre-
sent position as a steady and available investment,
which can be converted with a fair profit at any
moment into money, but by the great losses and
discreditable speculations from which it has pre-
served us. It is a remarkable fact that all the main
profits of the year in London have been derived
from adventures which at the time of their appear-
ance were most bitterly assailed by interested
cliques, the Egyptian loan which has resulted, ac-
cording to present prices, in a gain of more than a
quarter of a million sterling to the English public,
being the most prominent instance, The Turkish
loan, on the other hand, which was well received
on all sides, has thus far resulted in disappointment,
and this disappointment has been occasioned by the
attempts of some of its holders to spread the idea
that the statements on the part of the British Go-
vernment and of the contractors with respect to
the good faith and good prospects of Turkey were
wholly false, in order to disparage the introduction
of a new Turkish security, which was brought upon
our market at a price that, whatever may be its
actual value or want of value, bas already put into
Eoglish pockets a gain of 6 or 7 per cent.

FROM 2HE GAZETTE OF LAST EVENING.

BANKRUPTS.

- - -
The following are the only bankrupts of any commercial
importance which appear in the " Gazette" :---
William Bralee, horsehair manufacturer, Birmingham
John Gra,nger,coach builder and wheelwright, Ashby-
de-la-Zouch; Leicester
George Robert Martin, miller, Boyton, Suffolk
Michael Jones, grocer, Aston-place, Holloway-road
George Pearcy, tailor, Princess-street, Hanover-square
Thomas Gardner, licensed victualler, St. Helens
Charles Birchall, commission agent, Manchester
John Evans, licensed victualler, Park-place, Walworth
Etienne Francois Ponceau and Edmond Casten, mer-
chants and importers of French goods, King-street, Regent-
street

Amelia Jardine, straw hat manufacturer, Dunstable
Joseph Allen, painter, Luton, Bedfordshire
Vincent Ivory, straw hat maker, Luton, Bedfordshire
Anne Oldrey, milliner, Torquay, Devonshire
John Jenner Saltmarsh, licensed victualler, York-road,
Lambeth
Henry Harris, tailor, Clipstone street, Fitzroy-square
William Henry Coldman, carpenter, North Brixton
William Johnson, builder, Beaumont-street, Marylebone