The Sun.
London, England, 1847-02-27 00:00:00

party, notwithstanding all the reports of a levee de boucliere
being prepared for the spring."
:MADRID Bo&se, FEB. 18.—The Three per Cents. were
done at 313/4 for cash ; the Five per Cents ,at 201,i ; Debt
without Interest, 61/i4 ; and the Coupons, at 181,4.

We have received the Paris papers of Wednesday.
Tha Epoque, the death of which had been announced
on the preceding day, has become suddenly resuscitated.
It appears that M. DEvILLE, the gerant, had sold it to
M. EMILE DE GIRARDIN, the proprietor of the Presse,
without the knowledge of the shareholders, and had
transferred to him the list of the subscribers, &c. Tho
shareholders have applied to a court of law for redress,
and have commenced the republication of their journal.
The Presse gives another veraon of the story,
but as both M.DEvILLE and M. Entut DE GIRARDIN
are disciples of M. GuizoT, they, of coarse, " finding
themselves in the presence of adversaries," to wit the
shareholders, act upon his principles, and " do not feel
called upon to tell more of the truth than serves their
purpose."
The Debats has a long article on Prison Reform, in
which it strenuously advocates the adoption of the cellu-
lar system.
The French mission to Morocco has turned out a
failure. The Constitutionnel publishes the following let- 1
ter from Tangiers :
" The embassy sent to the Emperor of 3lorocco arrived
here on the 3d ult., in rather a sad condition, and without
having realised any of the illusions which were entertained
before its departure. The embassy had set out on Nov. 15,
forming a tolerably large body, and cutting a respectable
figure. It consisted of M. Dechasteau, the Consul-
General ; M. Roches, Secretary of Legation ; the private
secretar' of M. Dechasteau ; an interpreter, belonging
to the Consulate ; M. Maisonneuve, captain of the Acheron
steamer; four naval officers, and twelve seamen. In addi-
tion, there were a non-commissioned officer and six artillery-
men, escorting the field battery given to the Emperor ; also
four grooms, leading the five mares sent by the King to the
Emperor. That made in all between thirty and forty persons,
who expected wonders from this journey. The embassy
brought back fourteen horses, given as presents to the several
persons composing it. Some of these animals have since
died of the fatigue which they had undergone ; the best of
them was not estimated here to be worth more than 70f. ; also
three hyenas, two vultures, and six gazelles. On the other
hand, the embassy expended a large amount of money, and
the generosity of M. Dechasteau has become quite a proverb
in Morocco. As to the political results of the mission, they
are on a par with the rest. The Sultan had sent to meet the
embassy a splendid escort, which accompanied it going and
retiring, and caused the tribes to pay all the Moorish honours ;
he gave them plenty of flourishes of trumpets, and burnt
powder in abundance, but nothing more. The embassy had
to obtain two things. The first was the extradition, or at
least the confinement in the interior of the country, of Abd-
el-Kader. It was impossible to draw from the Emperor
a single serious word on the subject; he made some fine
promises, but he turned the conversation each instant, to
tall into ecatacies respecting the five mares sent him, and
still more to express his admiration of the field battery, de-
claring that his country was too poor to worthily acknow-
ledge so fine a present. The second object of the embassv
was to recommend the Emperor to organize his army in di*
European fashion, in order to be better able to oppose Abd-
el-Kader or any other usurper. French instructors were to
be offered him, and amongst them a superior officer who has
been at Tangiers for upward of a year in expectation of this
mission. The Sultan fell back on the low condition of his
finances, on the want of discipline of his troops, and the
prejudices of his subjects, whom the Houans, or members
of the religious orders, have filled with a fanatical admira-
tion of Abd-el-Kader and hatred against the Christians.
The mission has not been less sterile with respect to com-
mercial matters than political ones. It desired to get all
monopolies abolished, and have a measure of free trade estab-
lished. At the very time that M. Dechasteau returned
to Tangiers, the monopoly of leeches, which had just
expired, was renewed for a year to the person who
had been previously in possession of it. The French
Consulate solicited ineffectually for certain houses in Mar-
seilles liberty to export to Algeria, on the payment of duty,
wheat, barley, and cattle. One concession only was ob-
tained, and that in consequence of a complaint made on ac-
count of a misadventure which had occurred to one of the
persons of the embassy ; it is a decree declaring that every
European not owing money to the Emperor may for the
future travel freely in Morocco. It remains to be seen if
any one will place confidence in it. What is still more an-
noying i 4. that M. Dechasteau has not been able to obtain
anything in favour of the French merchants who have a right
to an indemnity, and who for three years have been waiting
for the reparation due to them. The Emperor imposed
enormous imposts on the tribes which pillaged Mogadore,
and has for a long time had the money in his hands; but, in
place of giving it to the merchants whose property was in-
jured, he employed it to his own profit, and replied by sub-
terfuges to the representations of bl. Dechasteau."
It was rumoured in Paris that Count EAMON had
applied to the Spanish Government to permit France to
occupy temporarily the Balearic Isles, a proposition
which had been coldly received by the Duke of SOTO.:
MATER. Certain it is, that a French squadron is at this
moment at Port Mahon. We understand what tem-
porary occupation means in the language of French
diplomacy. Lord ABERDEEN was assured that Algiers
was to be only " temporarily" occupied, and Lord
ABERDEEN accepted the assurance. No wonder that
M. GUIZOT regrets.that Lord ABERDEEN is not perma-
nent
Foreign Minister of England.
In the sitting of the Chamber of Deputies, on Tues-
day, the Minister of Public Works presented a Bill
(which he alluded to some days ago), enabling the Go-
vernment to return the railway companies the caution
money which they are required to lodge in the hands of
the Government. The caution money is to be returned
the companies being able to shorn that they --liiiinglii
out money to double that amount on the works.
The Elizabeth, a whaler, has arrived at Havre from
Otaheite, which island she left on the 12th November.
Tho negotiations with the native chiefs had been broken
off, and hostilities had recommenced.

The Reforme states that the price of wheat has risen
50c. the hectolitre in the market of Cambrai; at St.
Quentin, If. 25c.; Nugent Ic Roy, lf. 330.; Melun, 2f.;
Bourges and Meux, If.; Verdun, 50c.; Cherbourg
80c.; Alencon, If. 75c.; Beauvais, If. 50c.; Montdidier
P.; Bordeaux, if.; Sczanne, 2f.; Duurdan, and St,
Romain, 2f.
The Three per Cents. closed on the Paris Bourse on Wed-
nesday
at 781. 60c. ; the Five per Cents., 118 f. 95c. ; the
Orleans Railroad Shares, 1,2751. ; Rouen, 875 f.; Havre,
685 f.; Great Northern, 631 f. 25c.; Avignon, 842 f. 50c. ;
Vierzon, 5851- '
Bordeaux, 533 f.; Troyes and Monterean,
307 f. 50c. ; Basle, 210 f. ; Dieppe, 3271. 50c. ; Paris and Stras-
burg, 4GBf. 75c.; Tours and Nantes, 468 f. 75c.; Paris and
Lyons, 491 f. 25c.; Lyons and Avignon, 480 f.; Cette, 4551.;
SpHnish Three per Cents., 35g.
Rhenish,
BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, FEB/WANT 25.
Dutch ions, Boulogne and Ains, 144
-C
4tr-Northern of France, 12%-
enal of France (Orleans and
Vierzon), 13q,
-
Rotten and Havre, 27-Tours and Nantes, 3%.

. .
,70tid
.A; m2eoor i c
Ea woregyptta taken at
at
to
MONEY and COMMERCIAL NEWS.
From Vie Sun of last Night.
The market for Cotton at Lii'erpool Yesterday was not
quite so active, but prices remained without change. The
sales were between 4,000 and 5,000 bales, including 1,100
at
93/4d• ; and 30 Sea Island at Is. 2d. to 4d. per lb.
Shares steady.
6A,llide.ritcoa n 7
.(/),11d.
;$ pelcsuol ail
,itohni 1
The sale of Railway Shares to-day, by Messrs. Larnond
and Co., went off steadily, good shares were sought after,
and a large business was done. The following are a few
of the principal sales :
East Indian ..• ............................... X. 8 6
North British Extension
...
......... 1 7 0
Boston,Stamford, and Birmingham... ..... 619 0
Great Northern (London and York Reg.) 2 15 0
Newport and Abergavenny 0 13 6
Eastern Counties, York Extension ......
Leicester & Bedford, Exchange Certificate 0 12 6
South Yorkshire, Doncaster, and Goole 2 5 6
Shrewsbury and Birmingham (B) I 14 0
Madrid and Valencia
Derby, Stafford, and Worcestershire .... 011 0
Reading, Guildford, and Reigate..
North Staffordshire
Shropshire Union and Canal 1 7 0

There are various conjectures and surmises, calculations
and on dits, as to the probable terms which parties tendering
for the new loan will be inclined to offer, but, as
all of these are vague, and many of them interested, we
should be unwilling, even by inference, to appear to assist
those who must desire to see the market as much depressed
as possible. The payment of the instalments, even extended
as they are to the middle of October, will require about one
million per month, and unless the loan gets into very strong
hands, there will probably be a constant feeding of the
market with stock, to the detriment of those who have in-
vestments at high prices. On the other hand, presuming
that the parties taking the loan are tolerably strong, and
that, from the stake they may already have in the funds,
they will be inclined to keep the new stock, at least for a
time, we shall have, perhaps, a better chance of firm prices.
These are considerations which we may be sure will be
closely balanced in the minds of the acute capitalists who
determine upon bidding, and it is probable that the members
of the Stock Exchange will be nearest the mark. It might
happen, however, that no tender will come up to the mini-
mum of the Chancellor of the Exchequer, and that the loan
may be taken at the Government terms in " slices," by some
of the parties present.
The English Funds have been flat again to-day, and there
is no rally upon the closing quotations of yesterday. Con-
sols have been 90 to 90% tbr present transfer, and 90%
1,4
fo, account. The New Three-and-a-Quarter per Cents. have
been quoted 92% to 92%, and the Three per Cents., 901%2 to
9034• Bank Stuck is marked 203 to 204. Exchequer-bills
have been quoted ss. to 10s. premium, and East India Bonds,
45. to 10s. premium, showing a reaction in the unfunded debt,
which must be expected as the instalments have to be
I,
made up.
The Foreign Investments have been very quiet, and are
flatter. Spanish Five per Cent-t. 2411 74, and Portuguese
Four per Cents. 331/2
• •Dutch
to 34i ; Mexican Bonds have been
and Brazilian 87 to 87 Four per Cents. are 92A:
A,
to P 234.
F°r ItailwaYShares there has been a firm market, although
the business doing is small.
131:ITISII FUND.

ONE CLOSING
Bank Stock
O'CLOCK. PRICES.
. 90;1204 204%
.•
•• ~ .• •. •• •
90N
Three per Cent. Reduced Annuities .. • • n 3'4 90%
Three per Cent. Consols Annuities .. •• ."4",1 89%
Three per Cent. Annuities, 1726 • • '''., e/ 92%
9 9-16
INnediwaTithornede-:::(1,00-ao-41.uatiter per Cent. Anus.
._9102:47:
Long Annuities, Expire Jan. 5,1860 • • 9XI 9-16 P
4 p
Ditto. under 1,0001. .. • • •• ••
South Sea Stock .. . • • •
.. .
Ditto, New Annuities
.. .. ..
289% %
Bank Stock for Account 05
Consols for April 15 .. . .. .. .. 303/4%
Exchequer 111.1 Ls. iNd. I% d•
.
1,0001...
.... 7 5 10 7 pm.s
5001. , .. _ •. 11 5 Pm. 5
Ditto, Small _ •
::: 11 5 Imn• 5
Ditto, Advertised •• • • 510 2 pm. 3
ONE CLOSIN,
•• FOREIGN FUNDS. O'CLOCK. PRICE
87
Brazilian Bonds, 5 per Cent •• •• 87,%
Mexican Bonds, 1846, b per cent .. " m 2216
.. •.. ii% i 14% 345,
rortuMet Four per Cent

89%
205%
90,