The Sun.
London, England, 1847-02-26 00:00:00

CHANCEL L OR

OF
THE UNIVERSITY
OF

CAMBRIDGE.

(THIS DAY-BY EXPRESS.)

(FROM OUR OWN REPORTER.

CAMBRIDGE, THURSDAY, TWELVE O'CLOCK.

The last train last night brought down a host. of gentle-
men anxious to take a part in the election of a Chancellor
for the University. Several came down in the earlier trains,
and by night the town was full. The principal inns were
crammed, and private houses, by the judicious management
of the committees of the respective candidates, were cane,'
into requisition, and afforded many a " Cambridge " man a
bed. Beds, indeed, for the nonce. were at a premium, and
were eagerly bought up wherever a vacant tenement could
be discovered—in short, we use no hackneyed term when we
say that the greatest excitement prevailed.
There have been many elections of Chancellor during the
last ten years, but none possess so much real claim to interest
as the election which commenced this morning. It does not
certainly partake of a political character; but party spirit
runs equally high, and the contest will be a hard fought one.
Of course, last night and this morning many contradictory
rumours were floating about; some saying that the Prince
had issued a Royal mandate, declaring his intention to with-
draw from the contest altogether,—whilst on the other hand
it was asserted, with equal show of truth, that Earl Powis
had also resigned. But there is not the slightest truth in
either of them,— nothing of the kind has occurred up to the
time I write.

The special trains this morning have brought several
hundred electors, and the greatest animation prevails every-
where—vivacity one might almost say, for the old members
of the colleges seem to grow young again at sight of
Cambridge.

As nearly as I have been able to ascertain, and I have
conversed freely with gentlemen of both parties, the "Prince"
is the "favourite," and will be returned by a large majority.
His supporters say it is of advantage, of paramount advan-
tage, to have one of the Royal Family, the King Consort,
the may-be Regent, and the progenitor of the future Kings
of England, connected with the University, as his feelings
and his prejudices, as it were, will be with Cambridge; but
reject him, and you will offer a direct insult to the Queen, to
the Prince himself, and turn Royalty to Oxford; for if Prince
Albert be rejected here, they say Oxford must, will,
have him, when the venerable Duke of Wellington
has passed away from amongst us, though we
hope his Grace may be yet blest with many
years. They say, further, that the Prince is now no
longer a foreigner, but ssnalienised and a Briton ; that he is
a Civil Doctor of the University, and consequently one of
the University, and that so far he is an eligible candidate
" Keep Royalty to Cambridge," say his supporters; " the
patronage of Royalty ought not to be lightly thrown away."
The supporters of Earl Yowls argue thus :—We are for an
independent candidate; for one educated within our college
walls; one who will have a feeling in common with us, who
knows our privileges, and who, by his position in the Legis-
lature, will protect theta when assailed, as they frequently
hive been in the Lower House; in short, we will have a
" man of our own choosing ;". the office shall no longer be a
mere honorary one—a graceful appendage to the wearer.
Soon after ten o'clock a procession was formed at St. Ca-
therine's Hall, which proceeded immediately towards the
Senate House, on arriving at which the Beeell read the 33d
statute of Elizabeth, "de electione Canceilarii." The scruti-
neers and the representative of each candidate having taken
up their positions at the table, those entitled to vote appeared
in their gowns, and were supplied with the following form,
which, after filling up, they returned to the scrutineers:—
" elegit in Cancellarium nujus Academia;."

The Senate-house was nearly full at ten o'clock, the par.
tisans of either party were strenuously applauded, er as
strongly hissed, as they entered and proceeded to
the table to vote, by their friends and opponents. Amongst
the gownsmen who thronged the galleries a great number o
distinguished Senators voted.
STATE OF THE POLL, BY ELECTRIC TELEGRAPH.

QUARTER TO ELEVEN.
Prince Albert
Earl Powis
ELEVEN O'CLOCK.

Prince Albert
Earl Powis
Majority for Earl ......... —3O
QUARTER TO TWELVE.

Prince Albert
Earl Powis
TWELVE O'CLOCK.

Prince Albert
Earl Powis
ONE O'CLOCK.

Prince Albert
Eat I Powis
Majority
TWO 0 CLOCK.

Prince Albert
Earl Powis

Majority •
THREE
_O'CLOCK.
Prince Albert 427
Earl Powis 451
Majority:
FOUR O'CLOCK.

_
Prince Albert
Earl Powis

-. 8

THE GOVERNMENT LOAN OF

NtILLION-.

PROCEEDINGS OF THE PRELIMINARY MEETING
RESPECTING THE LOAN OF 8,0;_to,0(101. PROPOSED
TO BE RAISED IN THE PRESENT YEAR.
The following gentlemen attended the meeting yester-
day, in consequence of the Chancellor of the Exchequer's
letter to the Governor and Deputy-Governor of the Bank
of England, of the 23d inst., to hear the terms proposed
for the said loan:—
Mr. Isaac L. Goldimid, Mr. B. B. Williams, Mr.
Lawrence, Mr. J. Wreforl, Mr. Bates, Mr. Thomas
Baring, Mr. George Webb, Mr. Thomson Al rs Han-
key, Mr. James Ricardo, Mr. Humphrey John Mild-
may, Mr. Guilliam Scott, Mr. James Cape], Mr. John
Nurbur)., Mr. B. S. Lloyd, Burnand, Messrs. Roths-
child, Mr. E 1 ward Satterwarthe.
The measures proposed were—
. 1. That the loan to be contracted was for 8,000,000/
of money.
2. That the tender" should state the amount in money
that the party will give for 1001. Stock in the Three pi?
Gent. Consols.
3. Nu discount to be allowed.
4. The instalments to be paid on the days following:--
Deposit of 12 per c:rit. on Friday, the sth Match.
Payment of 12 per cent. on Friday-,\the 9th April.
//
12 „ It 7th May.
1/ 12
9/ 1 lth June.
9/ 12 „
9th July.
ff 12 ~ 6th August.
12 ~ /9 3d Sept.
9/ 16 ~ ~ 15th October.

5. The deposit to be retained as a security for mak-
ing the future payments on the days specified, and stock
will be given for the money prod in at each instalment
after the first, if requi►ed.

6. The interest to commence from the sth January
1817, and for whole payments, made on or before th.
2d July. 1847, the contributors will receive the halt•
year's dividend at Ihe sth July. 1847.
7. No reserve for public companies.

8. A sealed paper will be laid upon the table pry
viously to opening the tenders, containing the lowest
amount of money that Lord John Russell and the Chan-
cellor of the Exchequer will feel themselves justified ix,
accepting for every 100/. stock ; and in the event of
smaller sum be.ng tend,red in the several proposals that.
that in th, sealed paper, it will, in such case, be opened,
and the amount in it declared.

9. The biddings t) take place on Monday text, the
Ist March, at the Treasury, at ten o'clock.

ANO mut ACCOUNT.

Yesterday morning a meeting of the capitalists oi
London took place at the Treasury, to bid for the in-
tended loan (48,000,000/. for the relief of the destitute
of Ireland. The CHANCELLOR of the EXCHEQUER took
the chair. There were present :—Baron Rothschild
and his brother, Mr. Bates, of the firm of Baring
Brothers, Sir I. L.Goldstnid ; Messrs. W. B. Williams
Lawrence, T. Baring, Wills, Thomson A. Hankey,
F. Ricardo, H. St. J. Mildmay, J. G. Scott, Jame;,
Capel, George Barnard, and many other %ealtb3
capitalists.

The CHANCELLOR of the EXCHEQUER stated the
terms upon which the contract for eight millions
was to be bid for. lie said he must have the
money in whole before the 15th of October
next. Ile therefore proposed to take tenders on
Monday next for the loan, in one lot. The Govern-
ment desired to make the loan in C•insols, and the
biddings would be in a money payment, 1001. Cor.-
sols (at a minimum price to be fixed by the
Government, a sealed paper with respect to
which would be placed upon the table) at
a price above the quotation in the sealed paper.
the CHANCELLOR of the EXCHEQUER would not
upon any account allow of discount. Many of the
moneyed men who were present urged a more liberal
proposition on the part of the Government, but he re•
resolved to adhere to his proposition. The payments
to this loan are to be by monthly
_installments, and
if regularly paid up to July, to hear interest from
January last.