The Sun.
London, England, 1854-12-18 00:00:00

BOMBAY COMMERCIAL.

The state of trade in general is not very favourable,
and during the past fortnight money has been in great
demand, causing considerable tightness in the bazaar.

EGYPT.
ALEXANDRIA, Dec. B.—Toe Peninsular and Ori-
ental Company's steamer Vectis arrived here on
the 4th inst., with the Marseilles portion of the
London mail of the 24th of November, and leaves

_
again this day for Marseilles with that portion of
the Calcutta mail of the 6th of November. The

...
Tagus, with the mail via Southampton, arrived
only yesterday, and will leave again to-morrow.
M. Lesseps, formerly French Consul in Egypt,
has obtained from the Viceroy, Said Pasha, a fir-

. ,
man, granting to a company of which he is a direc-
tor the applied-for authority to make a ship canal
across the Isthmus of Suez, connecting the Medi-
terrean with the Red Sea. The canal, 75 miles

long, is to be completed in twelve years, the com
pang having the right of levying a toll on all ves-
sels passing through for ninety-nine years. The
capital is to be raised by shares, and M. Lesseps
expresses himself as being promised the support of
eminent bankers in France and Germany. Egypt
will not be called upon to make any outlay ; the
Viceroy is to have 15 per cent. of the net profits,
and at the expiration of the lease the works are to
become the property of this Government.
Notwithstanding the sanguine expectations of M.
Lesseps, it is generally believed that this great un-
dertaking, which will require a capital of fully
6,000,000/. sterling, will not be carried into effect,
as, while Europe is engaged in a terrible war the
end of which no one - can foresee, it is not likely
that many persons will embark their funds in
such a project, and, therefore, like the scheme
which was recently entertained of running steam
tugboats on the Nile, it will die a natural death
from the want of capitalists to take shares. It is
not unlikely that Said Pasha gave his consent so
rtadily because his Highness saw no great proba-
bility of the work being ever commenced, and it
must also be considered that said Pasha's assent

requires confirmation by the Sultan at Constah
nople, where political interests may induce the
European Ministers to advise the Porte to with-
had it.
The great difficulty attending the.usefulness of
a canal across the Isthmus of Suez lies in the shal-
lowness of the sea to a considerable distance from
both the Suez and the Mediterranean shores, and
that it is tc be cut through a barren desert, where
not a drop of potable water is to be found. At
Suez vessels cannot approach the shore. within
seven miles, so that a canal across the isthmus
would be of little use, when vessels could not reach
the mouth of the proposed cut within seven miles
on the Red Sea side, and four miles on the Medi-
terranean side.
It is fortunate that Said Pasha has not com-
mitted himself to bear any portion of the expense
of this undertaking, otherise he might have found
himself in a position similar to that of bis father,
Mehemet Ali, with the barrage of the Nile, planned
and attempted by a French engineer, which cost
the country 1,600,0001. sterling, and is not only
of no use whatever, but has impaired and en-
dangered the navigation of the river.
Said Pasha has declared his intention to com-
plete the line of railway from Alexandria to Suez
as soon as the means of doing so can be contrived ;
but, as his funds are at present very much strait-
ened by the numerous calls he has lately had to
meet, and particularly for the current expenses of
that part of the line which is now in course of con-
struction, his Highness has determined upon adopt-
ing the plan of giving over, or ceding for a fixed
period, the whole line between Alexandria and
Suez to any company or capitalist that may be
tempted to make an offer. A portion of the line
between Alexandria and Cairo is already in com-
plete working order, and the persons taking the
lease will have to bind themselves to extend the
line to Suez within-a certain period at their own
expense.
The propounders of the canal scheme are fully
alive to the necessity of the railway being com-
pleted to Suez before they can begin their work,
and therefore, instead of opposing it, as was there
wont, they now urge the Pasha to take steps to
finish it at once.
The Hon. C. A. Murray, formerly Consul-
General in Egypt, and now appointed Minister in
Persia, arrived here by the last English steamer,
on his way to his post.
Prices of produce still keep advancing here.
Wheat has now reached 50s. ; beaus, 40s. ; barley,
28s. per quarter, free on board without freight.
Fr eights above 6s. 3d. per quarter for beans.
The last two steamers have brought to Alexan-
dria 180,000/. sterling in specie, which is at once
engulfed in the country, and mostly buried by the
tillers of the ground, who get in payment of their
produce.
Exchange on London,
98 piastres per pound
I stirling.