The Sun.
London, England, 1865-05-12 00:00:00

ITALY.

TURIN, MAY 12.
The King left last evening for Florence, accom-
panied by General de La Marmara.
The report of the United Committees of the
Senate is_ favourable to the sale of the State
railways.

THE SCHLESWIG-HOLSTEIN QUESTION.
VIENNA, MAy 12.

The Neue Freie Presse of to-day says :—" The
last note of the Russian Cabinet to the Austrian
Government proposed that both the great German
Powers should enter into a separate negotiation
with the diet of the Duchies of Schleswig-Holstein
which is to be convoked. The same note proposes
the removal of the Duke of Augustenburg from
Kiel.

"In reply, the Austrian Government said that
the first proposal was not admissable, and that the
second one must also be declined, since no reason
for such a course had been given.

THE BOMBAY MAIL.
SOUTHAMPTON, MAY 12.
The Peninsular and Oriental Company's steamer
Ceylon passed the Needles at 11.30 a.m. to-day.

AMERICA.

LIVERPOOL, MAY 11.

The extra Cunard steamer Palestine, from New
York on the 29th ult., passed Holyhead at 4.30
p.m. to-day.
Her news has been anticipated.

and the King. One great source of embarrassment
is Father Ballerini, appointed Archbishop of Milan
by the Emperor of Austria a few days previous to
the battle of Magenta, and recognised by the Pope.
The Italian Government has not yet given this pre-
late possession of his see, and the Milanese clergy
have openly protested against the appointment.
The matter might be settled if the Holy See could
prevail upon Father Ballerini to send in his re-
signation, but it is thought he would refuse, Milan
being the most important diocese in Italy.
Opinions at Rome upon the question are divided.
The Moderates approve the Pope's method of pro-
viding for the vacant sees ; the reactionists are
alarmed and unable to blame the course adopted in
sufficiently energetic terms. The most vehement
are the Neapolitan exiles, who consider the agree-
ment between the Pope and Victor Emmanuel
inimical to the rights of the King of Naples. They
have even drawn up a kind of protest upon the
subject, which is incorrectly attributed to the in-
fluence of the king. The Pope has, however,
informed both Francis 11. and the ex-Grand Duke
of Tuscany that he shall immediately appoint
bishops to the sees vacant in their former dominions,
and that he will be ready to nominate such eccle-
siastics worthy of the honour as they may com-
mand.

The deputation sent to . Rome by the Emperor
Maximilian had encountered a very stormy recep-
tion at the Vatican. The Pope addressed the bishop,
who is one of the members of the deputation, in
.strong terms, declaring he wished to be no longer
deceived. He added that the Emperor Maximilian
was the worthy successor of Juarez, whose policy
he continued in all things regarding the Church.

FRANCE,
ST. NAZAIRE, MAY 12.

The steamer Florida, from Vera Cruz, on the
14th ult., has arrived here. She brings 233 pas-
sengers and $200,000 in specie.
BOURSE, May 11.—Although no very material
modification has taken place in the prices of the
various Securities, the same symptoms of relaxation
which characterised yesterday's dealings previous to
the close have been generally manifested during the
earlier hours of business to-day. Threes, for the
Account, are now quoted at 67fr. 65c., Mobilier at
805 fr., and Italian Fives 65fr. 70c. The last quo-
tations were as follows :

4i per Cents 95 50
Do. end month —
3 per Cents. 67 65
Do. end month 67 65
Credit Mobilier
Do. end month
Bank &hares 3750
Credit Foncier 1280
Roman 75 50
RAIL

Italian Loan 65 55
Do. end month 65 65
Ditto Threes 4l 20
New Mexican
Russian 9l 50
Austrian
Spanish Threes
Home Debt —
Deferred -
NAYS.

Cash. Acct.
Orleans
Northern lO7O ... 1067 50
Lyons and Mediterranean-- 901 25 ... 903 75
Southern 598 75 ... 601 25
Western 530 ... 530
Eastern
Sardinian 307 50 305
Austrian
Lombard 542 50 545
•North of Spain 260 258 75
Saragossa 350 348 75
Ditto to Barcelona — ...