The Sun.
London, England, 1853-04-12 00:00:00

flrmr.v V 2-014011

Talfourd ..
Ethelbert .

BY ELECTRIC TELEGRAPH.
NEWMARKET HANDICAP.

Seventeen ran.
SELLING STAKES: First Half of Ab. M
Leybotrne
Sophistry

Diomedia
Talfourd

Filbert
Cobnut

Six ran.
RIDDLESWORTH. D.M.

Four. ran. Won 14 a head.
SWEEPSTAKES. D.M.

Four ran.

THE FRENCH EMPIRE.

We have noticed in the Messenger the attempted
depreciation by the Union and the Assemblee Na
tionale of the recent manifestation here of some of
the citizens of London in favour of peace. The
Constitutionnel of yesterday remarks as follows on
the articles of those journals :
" It is worth while seeing with what zeal and pa-
triotism the Union and Assemblee Nationale endeavour
to disparage the address of the four thousand merchants,
bankers, and manufacturers of London ; with what care
they recommend to the public not to attach any value to
the assurances of peace which it contains ; with what
satisfaction they remove from men's minds that motive
of confidence and security. ' Four thousand merchants,
bankers, and manufacturers of London 1 what is that ?'
exclaim these journals, ' why, nothing at all ! And,
again, the British Ambassador did not take them to the
Tuileries. If the assurances of peace emanated from the
English Government, that would be something ; but
emanating from the most eminent men in England, the
proceeding cannot reassure any one against the chances
of collisions and disturbances.' What, on the contrary,
reassures us, and will reassure many others, is that
the symPathion towards France proceed from the'
heart of the English themselves. As long as the
first banking and commercial houses of London and
England are determined to have peace, any English
Ministry may be defied to wage war. If, after the
peace of Luneville, four thousand bankers and merchants
of London, approved of by all the English merchants,
had sent to the First Consul an address similar to that
which the Emperor has just received at the Tuileries,
the second administration of Pitt would have been im:
possible, and the Napoleonian dynasty would not have
quitted the French soil. It is not enough for the Union to
endeavour to remove from men's minds their motives of
confidence and their hopes of peace ; the piety of these
children of the children of the Crusaders is of opinion
that the good cause authorises a little calumny ; and the
Union insinuates, without too many oratorical precau-
tions, that if the English bankers and merchants are
anxious for peace, it is in order to have time to increase
their gain. Even supposing that such is their motive,
every honest man would prefer their line of conduct to
that of the Union. It is in fact better to desire peace,
even for the purpose of increasing one's fortune, than to
call for war and anarchy with a view to domination. It
is not, besides, any harm that circumstances uncover
every face, and that the merchants and working-classes
learn to understand the esteem and interest which the
legitimist journals feel for them. Ah 1 how well the
press has undertaken to justify the severe regime of which
it is the object ! The Government of the Emperor can,
on that point, attend with confidence the judgment of
the future ; for, if such is the latitude which this regime
still leaves to bad faith, to hatred of order, and to ca-
lumny, who could ever think of regretting what has
been legitimately taken from it ?"

The Pays has the following on the proposed re-
duction of the interest of the 3 per Cent. Consols
in England :
"The consequences of this measure are not indif-
ferent as regarded in connection with the money mar-
ket of France. For some time past English capital,
which, under the influence of the imprudent and in-
correct statements of their journals with regard to the
French Government, had deserted French enterprise,
has now a tendency to return to it, and to connect
itself more and more with the great industrial move-
ment which is developing itself among us. We shall
some day examine the, different affairs in which English
capitalists have taken part within the last few months.
Only a few days since some large London houses
placed themselves at the head of the important railway
which is to give life and movement to the central dis-
tricts of our country. The conversion of the English
3 per Cents. appear to us likely to develope this move-
ment of English capital towards us on a large scale.
Our 41 per Cents., our 3 per Cents., which scarcely ex-
ceed 80f., our railways, the majority of which have the
guarantee of the State at a minimum of 4 per Cent.,
and which almost all, even at the high price which they
have, attained, still give their shareholders more than
41 per cent.—all these united to the every-day increa-
sing consolidation of the power of the French Govern-
ment, to the progress of the public riches, to the excel-
lent state of our finances, to the certainty that the
Government is decided on moderating the exaggerated
spirit of speculation by keeping within the limits compa-
tible with the resources of public credit the issue of fresh
securities ; and lastly, to the general and legitimate
conviction that the Emperor will firmly maintain the
peace of the world, and develope in calm all the fruitful
germs of modern civilisation—all these considerations
combined cannot fail to attract foreign capitalists to our
market, where they will find comparatively advanta-
geous conditions for investment, and all the guarantees
to which they have a right to pretend. Is there any
reason for feeling alarm at the mass of cash to which
this state of things may, cause to flow into France ?
Certainly not • on the contrary, there is reason to re-
joice at it. We have often deplored the excess of specu-
lation on eventualities, which has nearly compromised
the national credit, and caused those sddden fluctuations
which are the fatal consequences of gambling at the
Bourse. We are happy, therefore, in the hope of seeing
the money market increased by, real capitalists and
honest speculators, who will snatch public securities
from the perilous chances of stockjobbing, and who, in
considering them as permanent investments, will increase
a feeling of security."
An Imperial decree nominates M. Cotton, Sub-
Prefect of Uzes, Secretary-General of the Prefec-
ture of the Rhone for the police department, in the
place of M. Menche de Loisne.
We read in the Constitutionnel

" The formation of a company charged to construct
the Central Railway of Italy, which will place Lyons in
direct communication with Rome and Venice, and
Vienna with Leghorn and Genoa, has been announced.
At the moment at which an English company formed of
English and French capitalists has obtained the conces- .
sion of the railway from Lyons to Turin, it appears to
us useful again to notice the Central Railway of Italy,
since one is destined to complete the other. It is known
that five Governments, Austria, Rome, Tuscany, and
the Duchies of Modena and Parma, have, in order to
assure and consolidate the success of this great enterprise,
guaranteed it an interest of 5 per cent. during 50 years.
Austria has besides taken the engagement to terminate
the railway of the Lombardo-Venetian kingdom by the
time at which the Central line shall be completed. At
Reggio, the Central railway will branch off to join the
Mantua line in the direction of Germany, and the line
of Placentia in the direction of Piedmont and France.
The Tuscan Government has likewise undertaken to
terminate for, at the latest, the same time the lines of
Pistoja to Lucca and Florence. The works will com-
mence in five different parts in the course of the month
of June next, under the superior direction of the ce-
lebrated engineer Negrelli who constructed the North-
ern railway in Austria. The whole railway will be
270 kilometres (about 67 French leagues) in extent,
of which 200 will pass through the most fertile and
most populous part of Italy, and will unite six prin-
cipal towns. If we consider that the Central Railway
of Italy, passing along the valleys of the Arno, the Po,
and the Tiber, will not only unite the Mediterranean to
the Adriatic, but the Mediterranean to the Baltic, • we
shall easily conceive that it will become one of the vital
arteries of the traffic of Europe. The capital amounts
to 75,000,000 fr., and is divided into 75,000 shares of
I,ooof. each. 40,000,000 shares are only to be issued.
These shares will produce an interest of 5 per cent. until
the completion of the works. The other 35,000 shares
have been placed in the hands of an international corn-
mission, coooombpoonsdesd of delegates of the said five govern-
ments,ntogriie:l
tat, o:
vobirineilo3cllo:a3svoe converted db intoe gv
given
oinnd
payment
b ea r i n gal/
par
rr
to cent.
natn.
the cha
beingr ge
destined
etsot
n e
d t o constructbe the Central
off
in fifty
The
years, by means of the proceeds of 1 per cent. realised
cent.b y thepcaoi
dm paanndy from the difference between the 4 per
that at the expiration per cent. guaranteed, it follows
be reduced to 40,000 of fifty years, the capital will
originai.ooof. ; so that the holders
f a sharestdh o will
concession,
receive
interestdui i ng
of 91 per cent., and
of the 40,000
lafleeteiiinfh
the last thirty years
the half of the
reserved to the
Railway
important
0; minimum of the
ficlveeargopyreornfintse—nttsh profits—the
hoitchhe other
interest of 5 per cent. If in spite
advantages, the shares of the Central
Bourse
of Italy
for funds
less
nave not yet risen to high prices at the
it is owing to different causes which deserve of
bPearks'..
plained. As the greater part of the shares of
Cen-
tral Railway of Italy have been taken in Germany
Italy, the enterprise has been but little known, :1Y and
appreciated in France. Besides, the first call
having been confined to 50f. for a I,ooof. share, it might
have been feared that the enterprise was not serious, be-
cause it was known that the works of the line were paid
not by calls from the shareholders, but with Four per
Cent. Bonds. In the second place, the shares of I,ooof.
do not facilitate transactions so much as those of 500 f.,
which is the amount generally adopted on that account
by most of the new commercial enterprises. But the
statutes of the company of the Central Railway
allow shares of 500 f. to be issued as soon as the succes-
sive payment of calls should have attained that amount.
The payment of the second deposit, which is to take
Place on the 15th of this month at Paris, for shares
placed in France, appears to have dissipated all appre-
hensions as to the reality and solidity of the'enterprise.
It is said that important purchases have been made for
the account of English shareholders."
The legislatiVe body me. t yesterday, but the pro-
ceedings were without importance. After some

applications for leave of absence had been accorded,
the bill concerning the definitive settlement of the
budget of J 850 was brought forward for discussion.
The articles fixing the final deficit of the receipts,
as compared with the expenses, at 41,014,767 f.,
'which sum is for the present to be carried to the
chara6e of the floating debt, were all agreed to
without remark, and the bill adopted unanimously
by 206 votes. The President then recommended
the divers committees to hasten on their labobrs,
and present their reports as soon as possible tolthe
Assembly. The sitting then terminated.
Several arrests were affected on Saturda4 at
Paris. The persons taking up are almost exclu-
sively of the working classes, and principally fl-om
amongst those living in the neighbourhood of !the
Arts et Métiers. They are suspected of being. in
correspondence with the refugees of London.
Some copies of a revolutionary manifesto were
found at the lodgings of some of them.
The Emperor has been suffering for some days
with a sort of boil which had taken up its position
on the inner part of the ham. This infliction
caused great pain, and local applications did ,but
little to alleviate the evil. Yesterday his medical at-
tendants considered it advisable to lance the sviell-
ing, and immediately on this being done he ex-
perienced great relief. It was this indisposition of
the Emperor which caused the postponement of the
ceremony of presenting the cardinal's hat on Sun-
day in the chapel of the Tuileries.
At the Bourse yesterday the market for Rentes
was buoyant, and an advance established on Satur-
day's quotations. At the conclusion of business
prices were firm, and had an upward tendency.
For cash, the Three per Cents. advanced 45c., and
for the Account 35c. The Four-and-a-Half per
Cents. for cash rose 30c., and for the Account 10c.
Bank Stock was dull, and declined sf. Prices
closed as follows :—For cash : Three per Cents.,
83f. 75c. ; Four-and-a-Half per Cents., 103 f. 85c. ;
for the Account, Three per Cents., 80f. 85c. Four-
and-a-Half per Cents., 103 f. 85c. Bank Stock,
2,735 f. In the Railway Share Market a good
business was transacted, at an advance on the last
quotations in the principal lines, and prices closed
firmly.