The Sun.
London, England, 1870-04-05 00:00:00

THE SUN, LONDON, TUESDAY EVENING, APRIL 5, 1870.

R 0 Y AL.L.see
and PRINCESS'SIJr—Mr. B .
min t THEATRE
er.
THIS EVEINING, at 7, YOUR LIFE'S IN DANGER
After which, PAUL LAFARGE: Messrs. J. Rouse, W. Rig-
nold, Geo. Belmcre,. Vollaire ; Mesdames R. Leclercq and Le-
thiere.
With A DARK NIGHT'S WORK; Messrs W. Rignold, G.
Belmcre, H. Crel'in ; Misses It. Leclercq, Barnett, &c.

LYCEUM THEATRE (under the management
of Messrs Mansell (elegantly redecorated by Macintosh).
THIS EVENING, at 7.30, SAMPSON'S WEDDING.
Aft r which at 8.39, CHILPicRIC, by Herve: M. Marius, G.
Vincent, Odell, Angyalll, 11. Rowland, Aynsley Cook, and %I.
Ilerre; Me.dames Dola-a, Romanelli, L. Wilson, and Emily
Muir.

I)OYAL STRAND THEATRE
Solo Lessee and Manageress, "Mrs Swanborougb.

T EIIS EVENING. at Seven. WIDOWS, WEEDS. Messrs
Croueh, Turner, and Mesdames E Burton and Anstiss.
Followed by SIR GEORGE AND A DRAGON. Messrs.
James, Terry, Fenton; Mesdames Santley, Dashwood, Goodal ,
Hughes, Anstiss. and Metcalfe. •
And A FISH OUT OF WATER.

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grievances, and who refuse a remedy. There is no
doubt that the Italian Government might easily save
itself from destruction, and its people from misery,
by proper concessions. Whatever may be the hopes
and wishes of leading agitators, it is an invariable
rule that the bulk of a nation does not willingly
court revolution, and may always be appeased by
timely offers. What is needed in Italy is a financial
reform and an extension of the franchise. The
latter would so surely involve all other needed
changes that it would very likely be sufficient to
yield that one point in order to win the battle against
the Republicans. At present the franchise is only to
be obtained by the payment of £1 12s. a year in
direct taxes—a rule which restricts the elec-
toral body to very small proportions. The
result is that the deputies who find their way into
Parliament are mostly wealthy men, opposed to reform,
and careful only to fatten themselves at the p iblic
expense. The Italian Legislature is notoriously the
most lazy and indifferent in Europe. A change in
this directioh would do much, and in time
might do everything. Though perhaps less acceptable
to the people than immediate redress of grievances,
it could not fail to direct their attention to peaceful
means of gaining their ends. They would differ
materially from all other peoples which enjoy con-
stitutional government, if they did not prefer
reform by the ballot-box rather than reform by the
sword. But should the Government persist in its
present indifference, it will not be surprising if there
be a terrible awakening shortly.

THE case of the Great Oceanic Telegraph Company
is, at all events, valuable as a proof that the public
is not disposed to repeat with submarine
cable enterprise the errors into which it was led by
finance companies and banks. Absurd as the Great
Oceanic project was, it would doubtless have gained
supporters two or three years ago. But things have
happily altered so much lately that this magnificent
and promising enterprise can find only one share-
holder. It was a gorgeous concern, and looked like a
charming investment, but melancholy events are too
recent for the public to be easily bitten again. The
promoters of the Great Oceanic proposed with a
capital of £OOO,OOO to make and work both sub-
marine and land telegraphs in all parts of
the world on the "system of light cables for deep
seas." Most moderate were the aspirations of the
directors and chairman. The latter was to draw
only £3OO a year for, his services, and the former
but £2OO a year each. The capital, too, it
is obvious, is very moderate for such grand under-
-takings. Yet the public was not to be "landed."
The promoters had the utmost difficulty in maintain-
ing even the most nominal balance at the bankers;
the sum frequently fell below zero,it rarely exceeded
£5O, and only once did it reach so high as
£149 lls. Bd. The principal business of the
company was transacted with newspapers in the
way of inserting advertisements and paying for the
same after insertion. The ./Ilethodist Recorder and
the Record benefited by the Great Oceanic, if the
world at large failed to reap the huge harvest of bene-
ficence so confidently promised. One shareholder was
hooked, and, welcome stranger though ho was, he
brought the company to ruin. Mr. Perry applied f(1
a hundred shares, and paid the deposit of £25. Fin&
ing that he had been more trusting than the rest of
his kind, Mr. Perry soon grew alarmed, and proposed t('
withdraw. Of course the promoters would not let
him, but sent an application for more money. Re.
duced to .desperate straits, the solitary shareholt:el
at length found means of retaliation. lie discover&
mat the company had no registered _office In
compliance with the 39th section of the
Joint Stock Companies Act. He accordingly
summoned the promoters for this breach of the law,
and succeeded in imposing a fine of £2s—the proper
penalty being Vi a day for the violation of the Act.
It remains to be seen how the directors Will
overcome this difficulty. They have al-
rew,ly spent much money in advertising,
but now their project has been most extensively
made known, and all for nothing. The public
has before it the whole scheme, and its
fruits ought soon to be made manifest.
We leave Mr. Perry and the promoters
to settle the matter between them. Meanwhile, it
is satisfactory to know that the speculative mania
has not reappeared in, the shape of a rage for tele-
g-raphic investment.

LATEST INTELLIGENCE.

(REUTER'S TELEGRAMS.)

SPAIN.

MADRID, April 5.

A riotous resistance to the conscription was made
yesterday in the neighbourhood of Barcelona, and
barricades were erected at Sauz, which, however, were
easily taken by the troops. The rioters took refuge
in the houses which were attacked by the artillery,
and order was completely restored by 3 p.m. Several
persons were killed and many wounded. Disturb-
anas also occurred at the suburb of San Antonio,
which were immediately suppressed.

The Cortes is discussing the bill on the Army
contingent.

FRANCE.
BOURSE, April 4.—Three o'clock—The market
closed as follows :

per Cent.
3 per Cents 73 47
End of mouth_ 74 571
'lredit 270
Transatlantic 192 50
Credit Foncier 1260
Paris Gas 1780
Suoz Canal 265
RAIL WA'

Bank Shares 2BlO
ItaPan vives 55 )55
Austrian Fives m
Ottoman Loan
Do. Debt• 47 20
Spanish Threes
Boma Debt —
Deferred —
S. Cash
... 1010
6471
11821
620
• 1030'
6221
541
800
4671

Orleans
Western
Northern
S trasburg • • ....
Lyons and Mediterranean
Southern....
Sardinian
Austrian
Lombard
North of Spain
Saragossa
Roman 5O

SWITZERLAND.

BERNE, April 5.

The people of Berne have by a large majority
approved the decision of the Federal Council to pay
a subvention of a million francs towards the comple-
tion of the St. Gothard Railway.

AMERICA.

PHILADELPHIA, April 4.

The announcement is made here that the French
Government have cancelled the exclusive concession
to a French company to land a cable from the
United States in France, thus ending the diplo-
matic dispute on the subject with the United
States.

The House of Representatives have passed a reso-
lution ordering the Secretary of the_Navy to have au
itlquiry made into the Oneida disaster, with a view
of ascertaining the responsibility for the disaster and
the conduct of the captain of the Bombay after the
collision. It goes to the Senate.
(Per French Atlantic Cable.)
NEW YORK, April 4.
COMMERCIAL INTELLIGENCE.
CLOSING PRICES.

Gold closed at 11.11 ; the highest quotation during the day
was 1111 ; the lowest, 114.
Sterling Exchange on London . 108 j
5-20 U. S. Bonds, 1882
11 3885
1867
10-40 „
Illinois
Erie
Cotton—Mid. upland 2210
Petroleum—Standard White
Flour—Extra State, $1 50c. to $5 10c. Corn—Old
mixei, $1 7c.

QUEENSTOWN, April 5.

The Cunprd Royal Mail steamer Tripoli, from New
York, arrived here at 7.30 a.m. to-day, with 81
passengers. She landed 15 passengers and despatches,
and proceeded for Liverpool immediately. All
well.