The Sun.
London, England, 1846-06-03 00:00:00

Aliening nit

LONDON, WEDNESDAY. JUNE 3, 1846.

We yesterday traced at some length the several
proceedings which had taken place with respect to
railway legislation up to the period of the bringing
forward of the Bill and resolutions which had been
adopted as sessional orders, and we showed that as
yet nothing had been done opposed to the great
inncipls cf a-m-interfararice with Tri-Tata enterprise,

which had been adopted and acted on long before the
several schemes now before Parliament had been
thought of or projected, and which had
been recognised und sanctioned at the be-
ginning of the session by the Committee ap-
pointed to inquire into, and report on, the
subject, and afterwards by the House, when
the report of that Committee was brought forward
and received. Should Lord FITZWILLIAM'S propo
sition now be adopted a new element must be taken
into calculation ; the final success of the Bill would be
dependent, in a great degree, not on its own inherent
excellence, not on the wants of the district which
the proposed line was intended to traverse, not on
the moderation of the estimates in proportion to the
quantity of work to be done, or the prospect of a
handsome and remunerating dividend for the capital
expended, but on the Parliamentary influence which
could be secured by the several promoters. It is per-
fectly manifest that at the very end of the session,
when much of the public business remained unfinished,
and matters of every kind would be pressed on to
a hasty conclusion, there would be neither
time nor inclination on the part of the Legisla-
ture to enter into a cool and dispassi mate
examination of the relative merits of the several lines,
so as to enable them to weed the project) brought
before them down to the number which it might be
supposed desirable to sanction. Neither would it be
Lair to impose on the promoters who had sufficiently
proved the excellence of their own undertaking the
necessity of impeaching that of another railway pass-
ing through a totally different country, or again
entering into the defence of their own, and bring
ing up a new host of witnesses, at a vast ex-
pense ; in fact, it :would be quite impossible to do
so. All would then depend on the votes of persons
wholly unacquainted with the real merits, and much
undue influence and canvas)ing for votes would most
undoubtedly take place, and scenes unworthy the
•dignity of Parliament would be enacted. It has been
stated that the measures adopted have had very little
effect ; that proceedings have taken place to evade
the objects of the Legislature ; that scrip has
been borrowed or purchased for the purpose
of securing the majority of scripholders required by
the resolutions. We cannot, however, agree with
this statement, or admit its importance, if true. It is
manife:t that the person who will consent to his scrip
being lent for the pu-pose of votes being thereby
given for the further progress of the undertaking
must be well satisfied that such should be the case ;
that scrip should be represented in some manner;
and it is as little likely that it should b •
used for a purpose opposed to the wishes of
its owner, as that the proxy of one of
their Lordships should go to swell a majority on a
question repugnant to the feelings of the noble giver
of that proxy. We .cannot, therefore, think that there
is any weight in the argument founded on the loan
of scrip. As little can be accorded to that of scrip
being purchased for the occasion ; if such should be
the case, the purchaser must be fully alive to the ad-
vant.'ges of the project, and most anxious for its suc-
cess ; he must step into the shoes of the person from
whbm he has bought it, and take upon himself

all the responsibilities incidental to its ownership, if
he should afterwards feel disposed to part with that
scrip, after it has answered the purpose contemplated,
he must do so when the decision has been arrived at;
and if that should be an erroneous one, of course the
scrip will be much deteriorated in value, and he will
have obtained the privilege of voting at a very heavy
expenditure. We do not think that many persons
will be found willing to incur such a risk.

We are not satisfied either that the number of
cases which will receive the sanction of the share-
holders will be so numerous as to create any further
disturbance in the money market, or to require an
expenditure beyond the ability of the country to en-
counter. True it is, that in the great majority of ewes
in which meetings hare hitherto been held, the de-
ch,ion arrived at was favourable to their continued
progress, and that, by very large majorities ; but it
must be recollected, that these have been the culled
an.l selected schemes that have stood the

test of Parliamentary inquiry, and been in almost
every instance reported on favourably, by the several
Committees to which they had been referred, in
which every expenditure had already been incurred,
and vk hich were only waiting for the third readings.
Had it been otherwise, it is very probable that the
result of the meetings might have been different,and
that the persons interested would have come to a dif-

ferent conclusion. The exp-ncliture in the construc-
tion of railways is very different in its effects from a
similar sum being sent out of the country for
any object whatsoever. There is no capital
withdrawn from circulation ; on the contrary,
much money that would otherwise be hoarded
up and lying idle, will be thereby put into
activity ; it will get into the hands of the industrious
and laborious classes, and create a demand for manu-
factures, and infuse new activity into the general
business of the country. Much public benefit will
thereby be effected; a new capital, represented by
the value of the completed railways will be created,
which will be as available for the general purposes of
the nation, as if so many thousand acres of land could
be reclaimed from the sea, or of waste land brought
into cultivation and fertility. After a short time
confidence will, in all human probability, be restored,
and the public will see how great has been the folly,
the insanity which induced them from a panic to
sacrifice their property, and many will be tound
willing to invest their savings judiciously, not in the
wild and reckless manner that unfortunately was the
case during the last year when any scheme whatso-
ever, no matter how unlikely to succeed, was
eagerly adopted, and its shares sought for with avidity;
but prudently and with circumspection, after a full
examination into the prospects of success afforded and
of the merits of each individual project. Should,
however, the case be otherwise than we have conctived,
and the amount of capital required for the com-
pletion of all the sanctioned projects be more than the
country could afford, it would be easy for Par-
liament to add a clause authorising the postpone-
ment of the project for . a certain limited
time, or extending the period within which the line
must be completed, or its works commenced. By
such a course no injustice would be done to any per-
son whatsoever, and the directors would be very un-

willing unduly to press on the work, or to depreciate
their property by a call, to be enforced during an un-

- - -
favourable state of the money-market. Again, it

may be provided that calls should only
be made at extended periods; and perhaps it
might be found advantageous to enact that

undoubtedly, be contemned as the mere babbling of
a mock philanthropy ; but to reduce the question to
one of sheer duty imposed upon the community, and to
say that mauy of our countrymen encounter death
when a timely interference might have warded off the
danger, places the subject of our comments upon
an appreciable footing. Again, what transpired
yesterday may transpire to-morrow—what has
already occurred to such an one may happen
some time or other to ourselves. That consideration
brings the matter home to each of us, and while un-
doubtedly it may impart an ostensible air of selfish-
ness to our benevolence in regard to such calamities,
it will nevertheless animate that benevolence with a
more practical earnestness than a thousand other more re-
fined and less egotis ical reflections. The most invariable
and glaring characteristics of a catastrophe of this
description are those which transpire upon judicial
investigations into the occurrence : fr.on these it
always appears that no one concerned in the transac-
tion was in the slightest degree to blame—the blue
lights were duly ignited, the look-out was lite-
rally " wide awake," the captain— (a confession
always volunteered up:m evidence)—the captain was
(marvellous improbability to be guaranteed upon
oath !) sober. Nay, the more enthusiastic witnesses
are repeatedly enlarging upon the testimony of each
other : one sailor avers that the skipper was " clear
as a whistle in the foretop;" another ingeniously
hints at his habitual sobriety ; a third, prefacing his
assurance with a "'vast heaving, messmate," solemnly
avouches that he never saw the captain drunk
throughout his existence. And all this spontaneous
evidence as to the abstemiousness
say as ou
of
rt commanderhgeh a
OTHELLOd
i
d
of the delinquent vessel,
might
possibly, t h
trepida-
tionunder
nd
thatersimilar his employerscircumstances—

no new call should be made without the

approbation of a general meeting of the share-
holders, to be called expressly for that purpose, and
to decide thereon, which meeting might be held in a

similar manner and he attended by a like number of
the shareholders to those now rendered necessary by
the resolutions already referred to. Either of these
courses would, as we conceive, have the desired effect
of preventing undue pressure, and no complaint could
fairly be made against them. We trust that the
Legislature will act in this important matter with due
deliberation, and, beyond all things, that there will
be no violation of what we must consider the implied
contract entered into with the several persons, who,
on the faith thereof, subscribed their capital for the
execution of public works likely to effect much public
benefit.

Cassio, I love thee well,
But never more be officer of 'nine."
Now we are not impeaching any individual, or in-
veighing idly against any particular class ; neither
do we mean to insinuate anything like the suborning
of interested -witnesses. We are simply narrating
facts, and commenting upon casualties with the
view of arriving at some definite conclusion as to
the readiest way of preventing the repetition of those
tacts and the possibility of those same casualties.
Indeed, we will take the accuracy of such evidence
for granted, and coincide thus fir in favour of those
implicated. We will admit, fur instance, that the
blue lights were tended with all proper care and
ceremony, that the look-out was vigilant as Argus,
and the captain, as the saying goes, as sober as a
judge; and having admitted all this, we will then in-
vestigate as to the possibility of such an accident oc-
curring after so many elaborate precautions. Ob-
serve, we are alluding to those countless collisions
where there are survivors from both the vessels,
all the survivors telling the same story as
above mentioned. In hazy and foggy weather, or
upon what are called " dark nights," the accident is
laid on all hands upon the condition of the atmo-
sphere ; but, seriously, such excuses are altogether
inadmissible. Supposing the fog to be so dense as
to choke the radiation from the blue lights, what can
he more obvious than the necessity of so diminishing
the speed of the vessels as to give both an opportu-
nity for steering clear of each other as soon as the
warning is recognisable ? But these accidents are
continually occurring, under the aggravating circum
stances of a great facility fur prevention. The recent
collision on the Mersey is a case in point, and a
case in which blame appears to be scarcely attachable
to any individual, but to be solely attachable, on the
contrary, to the system. The circumstances attendant
upon this catastrophe prove how absolutely requisite
a reform is for the arrangement of this most important ►
question in seamanship. Had the Sea Nymph (the
steamer sunk by the collision) been constructed like
the more fortunate boat, the Rambler, namely, with
water-tight compartments, the unhappy voyagers
from Ireland, who were upon that occasion destroyed,
might have been enjoying life at this moment. Under
all considerations, we cannot but repeat it, the matter
calls for a most decided reformation. Whether more
intensely radiating lights, or the employ-
ment of percussion signals in hazy weather, or
an increase of vigilance or a decrease of speed be
necessary, remains to be thoroughly elucidated. Two
things, however, are absolutely certain—first, that
water-tight compartments should be more generally
adopted in naval architecture; and, secor.dly, that a
system is requisite.

The treaty of commerce lately concluded between
Russia and Turkey is'published in the Augsburgh
Gazette, of which the following is an outline :-
4, It is to come into force on July 1, and to last to
1856. The contracting parties are to declare six months
in advance if they. intend to continue the treaty
modify it. The articles are 20 in number. The sup
plementary duties of 9 per cent. fit exports, and 2 pet
cent, on imports to be edited to the 3 per cent. dr, ail)
long estabrltish6l-le&area that the Russians cannot tea le
. are admitted as a principle in tbi
-
. .re ity. A
in Turkey in articles manufactured there, nor can they
estaAish manufactories. Art. 9 reserves to the Otto-
man Porte the right to interdict, in case of necessity.
the exportation of any Turkish produce for a determined
time; 'Turkey, howe,er, undertakes to inform the Rus
shin ambassador of such articles, and if any exception is
to be made, it is to be in favour of the Russians. Art. In
.•xci pt, from liberty of commerce gunpua der, tails, &e
When Russian vessels import cannon, they must deposit
them at the custom-houie, in order to be sold under the
superintendence of the customs' officers, and more guns
cannot be disposed of than will be sufficient for one ves
sal. Art. 1 t enumerates the monopolies reserved b 3
the Turkish Treasury (particularly leeches). Foreign
salt and snuff can only be sold wholesale. Art 16 speak•
of the principalities of Danube and Servia. Such produce
as is introdr.crd by Russia into these countries is to pa)
3 per cunt. entrance duty, and 2 per cent. additional to
the customs. The transit of Russian articles is fixed at
3, per cent.

Madrid journals to the 27th tilt., have been re,
ceived.

A rumour was in very general circulation that
some molification was about to take place in the
Ministry, in consequence of which M. PACHECO and
certain other members of the Conservative Opposition,
would take office under M. ISTURITZ, who would still
remain President of the Council. Accounts had been
received from Portugal, to the effect that ALMEDIA
had pronounced in favour of the insurrection. Gene-
ral CALLENGE had concentrated all the forces in the
province of Ciudad Roderigo on the frontier, and on
the 23d he was at Alda del Obispo.
The Three per Cents. were not quoted on the
Madrid Bourse, and but few private sales took place
at 33i 13-16. The Five per Cents. were done at
20i 21 for cash; the shares of the Bank of San Fer-
nando, at 380, and those of Isabel, at 196.;

We have received the Paris papers of Monday.
In consequence of the observation of the holiday of
Whit-Sunday at most of the printing-offices, only
three papers were published on Monday morning
viz., the Courrier Francais, the National, and the
Presse.

The Courrier Francais, which has always been an
advocate for free trade, thus comments on the
passing of the second reading of the Corn Bill by the
House of Lords :

" The cause of the freedom of trade is gained in Eng-
land ; even the House of Lords, that interested guardian
of the old system, has b. en obliged to go by the current
of public opinion. If the other nations follow .he path
traced by Great Britain—if they enter boldly into the
prosperous road of liberty—it may be said then that, in
a very few years, the whole face of the world will be
changed. No more wars arising out of the imposition of
custi duth s—no more coiacts from factitious interi sta
—no more outcries from manufacturers—no more dis-
orders in the arena of production. Such are the great
promises of commercial liberty, and these are not vain
promises. They are promises guaranteed by know-
ledge, and is iil soon, no doubt, receive a striking con-
firmation by the conviction of a great nation. But it is
important that the people of the continent should hasten
to burst the chains by which industry has been fettered
under the feudal system. Commercial liberty is a pro-
gression which cannot be too quickly adopted, and
rollowed up to realisation."
The Courrier then proceeds to enumerate the diffi-
culties with which the partisans of free trade will
have to contend in France, where the protectionists
are so powerful, and where the Government, even if
it has the will, is to little able to carry any great
measure in favour of liberal principles as regards
commerce. The article of the Courrier concludes as
ut:gal.aji.:Tvvr:sttyelifreniends of commercial freedom have a rude task
before them. They have to undergo the arbitary pres-
sure
the counttinPtae
sure of legal power, and to struggle against the immense
Y, have they not for their natural auxiliaries
the reason and interest of the immense majority of the
rrleisatms eannt(i
rluutdiictesthoet3t-hhearveeprteosecnotantTvneds
ppeople? Let them therefore enter undauntedly into the
eople? Let
them organise themselves with or without
Ituth.ClitYl If the Goyernment and the Chamber throw

rigour.

From thefrequentrecurrence of collisions of steam-
boats after nightfall, and the frightful calamities
which incessantly resulti'a .from those accidents, it
theot probable
be-
causee°lnesonfetcheiBsaotbrrveYqiautteiornlcy,liatndhetre iondtoevise some means for
tc.heeforth. It is not un -
taking place on the
sheaatr
midnight,o f such
ri sa run
down highil effectuallysu alsteoa
constantlys aved in th e
transpiring,catastro
down instantaneously, with not ap
and
oacre generally
'these circum-
stancesregarded as matters of such ordinaryoccurrence as
only to arrest public attention for an instant on the
perusal of some newspaper
P paragraph.lf it b
remembered, however, that those wretched beings
who are thus dashed out of existence, name-
lessly, lessly, and almost uncommisserated, might have been
preserved from such a premature destruction by a
few precautionary measures, trivial enough in them-
selves, but of immeasurable imporance as a preven-
tive of accidental deaths, the affair assumes a new
and striking interest. To dilate upon the melancholy
asactiatians attacked to the fate cf tha suffererswoul I,

THE SUN, LONDON, WEDNESDAY EVENING, JUNE 3, 1846.

The Guvernor of Ham, M. DEMARLE, was still
kept under close arrest, and treated with great

There was a rumour in Paris of an approaching
modification in the French Ministry. It is said that
the health of the Minister of Finance is so precarious
as to render his retirement from office necessary, and
that the Minister of Justice and the Minister of
Marine are also anxious to resign.
The Chamber of Peers is convoked for Tuesday, to
hear the indictment of LECOMTE read.
The apprehension caused by the war of the United States
with Mexico weighed on the Paris money-market on Monday.
The Three per Cents. closed at 84f. 20c. ; the Five per
Cents., at 120 f.; the Orleans Railroad shares, 1,235 f. ;
Rouen, I,olof. ; Havre, 745 f. ; Great Northern, 733 t. 75e. ;
Avignon, 867 t. 50c.; Vierzon, 622 f. 50c.; Bordeaux, 6001:;
Dieppe, 4151. ; Paris and Strasburgh, 5021. 50c. ; Tours and
Names. 511 f. 25e.; Paris and Lyons, 537 f. 50c.; Spanish
Three per Cents., 381%1x.
Lyons and Avignon, definitives, 5161. 25c.; Bordeaux and
Cette, definitives, 508 f. 50c.
MAL:sr:ad:Es, MAY 28.-Marseilles and Avignon, 900 f. ;
Northern, 750 f.; Paris and Lyons, 5401.
LYoNS, MAY SO.-Marseilles and Avignon, 8751.; Paris
and Orleans, 1,228 f. 75c. ; Rouen, 1,005 f. 25c.; Lyons,
!,36f. 25c.; Vierzon, 6221. 50c. ; Northern, 7351.
BUSINESS lA/NE IN FOREIGN' RAILWAYS AT THE
LONDON STOCK E.NcIIANGE, Jusa 2.
Boulogne and Amiens, 11% --Central of Spain, t ii-Dutch
Rhenish, 7% -Northern of Fratize Constituted, 13% -Orleans and
Vierzon, 14 3/ 4-Orleans and Bordeaux, 10%-Paris and Lyons Con-
stituted, 6%.

PRIVY COUNCIL.-('THIS DAY.)
The Judicial Committee of the Privy Council sat to-
day in toe Council Chamber, Whitehall. The Lords in
attendance were the Lard Presid-nt (the Duke of Buc-
clench), Mr. Baran ke, the Vice-Chancellor Knight
Bruce, and Sir Herber, Jenner Fust.

THE IRON DUKE.
The further argument, in this collision case, which
carne before their Lordships upon ,ppeal from the Court
4,f Admiralty, occupied their Lordships the whole morn-
ing. We have already given a detailed account cf the
facts of the case.

CHANCERI.—(THIS DAY.)
The Lord Chancellor sat in his Court at Westminster
to-day, aid heard appeals.

WIIITWORTII V. GANGAIN.
His Lordship was occupied the whole morning with
the arguments in this appeal from the decision of the
Vice-Chancellor Wigram. The only questb nin this
case was a hether a subsi•quent mortgage was entitled to
preference over a writ of illegit. The Vice-Chancellor
decided that it was, and from that decision the present
appeal vi as brought.

ROLLS' CiplAtl'.—(lllS DAY)
MARTIN V. SEDOWICH.
The arguments m this case were resumed.
Mr. TURNER, On the part of the appellant, repli d at
srreat length to the arguments on :he opposite side, and
cc nte-nded that the question at issue was one that came
clearly under the law respecting real property, though
it bad reference to shares.
Lord LANGDALE, in giving judgment, reviewed the
whole facts of the case. He said, this was one of those
unfortunate cases, where the Court was called on to de-
cide to the detriment of an innocent party. It apps emit
that, in 1832, a Mr. Danlop caused to be transierred
en the name of a Mr. Sedgivick, 200 shares in the Heck
Assurance Company, he holding these shared in to tt,t
tier him and his heirs. The first question that arose was,
whether by the constitution of tnese acts a shareholder
was a partner, and whether the notice served was to be
considered as a sufficient notice to the Company. Ile
was di ally of opinion that such was not the ewe. It
did not appear, moreover, that there existed any cir-
cumstance to prevent Mr. Dunlop giving that notice
which would have subsequently prevented any in-
terference with the rights of the party justly en-
titled to these shares. These shares standing in
his name, he was certainly at liberty to dis-
pose of them in any way consistent with the
rules of the Committee. During the whole period, the
interest of these shares had been paid to Mr. Dunlop.
Et appears, from the answer, that he applied to a Airs.
iutherland for a sum of money, in security fbr
which he gave these shares as a pledge, and he
executed an assignment to that eff. ct. Mrs.
Sutherland subsequently advanced a further sum
of money, making altogether a sum total of over
2,0001. The abates not being adt quate to meet so large
a demand, Mr. Seelgwick gave other shires as a secu•
rity, aid made arrangements by which these shares
should be so disposed as to liquidate in part his debt
to Mrs. Sutherland, and the debt was reduced
to 1,5001. Under all the circumstances it was
evident that the plaintiff had a clear right to have
a full account of what sums remained, respecting the
claims of Mrs. Sutherland. A question neight certainly
arise between the co-trustees, but here the' case was
perfectly clear, and Mrs. Sutherland was clearly en-
titled to have those shares turned into money for her
benefit. This did not apply to the interest that had
accrued on the shares, and though no blame could be
attached to Mr. Sedgwick, yet on this point the law
was against him.

VICE-CHANCERY.-(TIIIS DAY.)
(Before the VICE-CHANCELLOR Of ENGLAND )
GOODMAN V. DE BEAUVOIR.
This case came before the Court upon an applica-
tion to dissolve an injunction that had been granted re-
straining the Warwick and Worcester Company from
paying the sum of 21,0001. The plaintiffs are repre-
sented to be all the shareholders of the Company, with
the exception of the defendants, who are the directors
of the Company ; and the grounds on which the app,ali-
t
cation to dissolve the injunction is founded are,:tt
the facts upon which the injunction was granted were
not fully stated to the Court, and that in several re-
spects they were perverted.
The case appears likely to occupy more than this day.

Mass JULIA. BENNETT'S BENEFIT.—That delightful
and fascinating actress, Miss Julia Bennett, takes her benefit
this evening at the Ilayinarket, on which occasion the fair
beneficiare appears for the first time as Lady Teazle. in Li e
School for Scandal. We expect that Miss Julia Bennett
will make a great hit. Her youth, her beauty, her archtiesg,
and her lady like mannere, all combine to point her out as
an admirable representative of the part. She afterwards
appears as Gertrude, in the Loan of a Lover, with Webster
as Peter Spyk. In addition to these attractions, Herr
Wilhelmkue is to perform a fantasia on the grand piano-
forte. There can be no doubt but that the house will be a
bumper.
GENERAL TaE 4TRICAL FEND —We are gratiied
to
learn that his Grace the Duke of Devonshire has liberally
subscribed ten guineas annually to this most ezellPnt in 1
tutic -
vn. 2,

- -----------
~..---.
ob,taeles in their way, so much the worse for the Go- 1 MONE Y and Co YEIVIERCIA L NEWS.
Go-
vernment and the Chamber."
CITY, QUARTER TO THREE.
On the subject of the differences which have arisen ' The sales of Cotton a' Liverpool yesterday were 4,000
,I;aol4,boafitua-hbicaldi lbjeoeono
tal,eere on
hspeculation. Besides this,
between the English and French Cabinets, relative to
the affairs of Greece, the Courrier Francais has the ; ;illation, after the usua.lheonur's eofpratesstZvenSihnagreosn were
following :- very quiet, but firm.
"Notwithstanding the frequent interchange of notes,
Messrs. Laniond and Co's sale of Railway shares went off
rather dully but at about previous rates. N'Ve f r , Vatier-
which have for a long time been passing between them, ford, and Valentia, Bs.-Leicester andßedfordx °I/d6l
the Cabinets of France and England are further than London and Manchester, Remington's, 14s. 6(1'.-Goole a.;
ever from coming to an understanding upon the affairs Doncaster, 11. IN.-Essex and Suffolk, 128. 6d.-South
of Greece. It appears that Lord Aberdeen, in a long Midland, I/. 10s.-Warwick and Worcester, 10s.--Exeter,
conference with the Count de St. Aulaire, has insisted Yeovil, and Dorset, 11. 195.-Brecon and Merthyr Tydvil,
on the recal of M. Piscatory, whose position at Athens Bs.-Welsh Midland, 1/. 2s. Gd.-Waveney Valley, 10s. 6d.-
eclipses England. It was in consequence of this con- Great Eastern and Western, 195.-Buckingham hire, 21. 2s.
ference that our Ambassador sent to Paris the Count de -East Indian, 15s. 6d.- Jamaica South Midland, 17s. 6d.-
Calcutta and St. George's Point, 55.-East Dereham and
Jarrow, who has his full confidence, as well as that of
M. Guiz a." Norwich, Bs. 61-Vale of Math, U. IN.-Direct London
,
, 6d.
The National, in a long article on the affairs of and
Share Exeter pecu4la: ion is worthy of all censure, no doubt, where
Mexico and the United States, expresses an opinion it degenerates
wanted,ere
edoe- e
impedes
the
f valueless
progress
that the cause of Mexico is hopeless, in allusion to the of the
schemes intonesreally
even temporary faYaour. Ina publication which
opinion expressed of some parties in America, that is in the eighth edition, entitled a " Short and Sure Guide
Ito
England had incited Mexico to war. It says :- Pwtitirt:aansetiotwlno‘iersetamseonntsttßugl Railways," iu"lii:, itsncoun:ntled,pat
satisfaction,y
" Until we are better informed, we cannot help think- inasmuch as we would discourage mere scheming, that the
ing that nothing is less probable. for, according to ttrhee handsaccumulation
,ft i
railway or cap it a I saom eiwn hl
ieerue
nmf atclbee"a
tc,oern e n
k lsv lii i CI;
our ideas, England can gain nothing by affording the they previ.usl; held.Thoemnpcno3Mmence their payments to
Americans, on one hand, a plausible pretext for seiz- ironmasters, contractors, engineers, mechanics, and la-bouiers, ing the Californias ; and, on the other handcompel
ling mind hav's.hich- been by
dessocmriebedperl.sersi(a)n ' olfockteirnigns, upo or
of
of
them, so to speak, to fortify themselves against the capital till the line is completed and making
circulationr returns.' turns '
))f.n
perfidious surprises so familiar to our neighbours." "an tcTrTlatiosn it
giving'ot life essentiallyand vigour a
carTiteal-
According to La Presse, orders had been for- and activity to industry and trade-and ultimately
warded by the Government to the different seaports, creatingb the means of mak.ing. fresh accumulations, to
to send several ships of war to reinforce the French ofe theagain, skill concentrated
and
aiii
generations.tspersed i n
the
iitt i employmenteuf the
squadron cruizing in the Gulf of Mexico. capital of the country, comparatively, is yet appro-
The Echo d 'Oran of the 24th ult. confirms the oprinted
r toan td•ai la;e,ayitsi;mastoe fLvdesper,s)ofnsr.eegsranrlden w
thtth•einaast
report of the massacre of the French prisoners by when the meansg at the disposal of these fe are
ABD-EL-KADER. The Oran correspondent of a Tou-
absorbed, there is usually a pause, which is followed
by a pressure upon the money market; and when (as
lon journal, under date of Oran, May 21, writes as last year) such transactions are entered into by per-
tollows :- sons who have no means whatever, instead of a pause there
" The number' of French prisoners who escaped the
is a crash. But the same thing occurs occasionally in every
.
other de artment f rise • and there is noihin con-
massacre of the deira is unfortunately very small, but
nected with it which canenter bpe considered peculiar to railg ways
amongst them are said to be the Lieut.-colonel of the except the disproportion, already noticed, between the small
2d Ilu-sars, and some other officers. General Cavaignac, number of investors and the increasing amount of stock."
commanding the subdivision of Tlemcen, who had just The mercantile news by the Overland Mail is rather more
receiv, d a large convoy and a reinforcement of three satisfactory, but still not indicative of an active demand for
battalions, proceeded immediately to the extreme iron-- British fabrics, while the value of Indian produce, rice and
tier in the hope either of meeting with some or the psi- indigo for instance, was advancing.
l'
forhe Public Securities have been very firm and there has
covers who had escaped. or to prevent any new out- '
been Pu 34 74
or, ale. As yet, however, we have received no news of a moderate business done. Consols are 96
the movements of the Gelieral."
Money, and 97% to 4 fin. Account. Exchequer-bills have been
marked 16s. to 20s. premium, being rather firmer. Bank
The latest news from Oran is of the 25th, and is Stock is quiet at 2051 A,. The ew Three-and-a. Quarter per
published in the Semaphore de Marseilles of the 29th. Ce,tjitise. haveri bneene
S 9.7 u 4iti%s ,baan‘a,e tibre,
elnlr
dull,ee per p
°Cretin] Cents., 951,4 a.
ABD-EL-FADER was on the 25th stated to be within per Cents. areeg 54 ; Mexican have been 29% to 301/4 ; Dutch
a short distance from Stitten, in the Djebel Ksell, -
rwo-anid-a-Hall per Cents. are 60%.
awaiting the remnants of his deira, which was
In Shares there is not much acing, but they are firm ge•
pro- nerally.
ceeding in that direction under the orders of BEN BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
I'AMI. It was reported that the EMIR had been (From the Official List.)
joined there by Bou Alezx and HADJ-SEGHIR, who
had fled from the Ouarensenis, after their unsuccess-
ful attempt to organise an insurrection in those
mountains. A strong column, commanded by Co-
lonel RENAULT, had proceeded from Frenda to-
wards Stitten, to operate against ABD-EL-KADER
and drive hint into the Desert. Di o direct news had
arrived from General CevaiGmac, who had marched
from Lalla Maghruia on the 15th. Some Arabs
stated, at Tlemcen, that the General, after cutting off
several fractions of emigrant tribes and a number of
Moors, who had joined in an attack against Lalla
Magbrilia, on the 24th of March last, had crossed the
plain of Missouin and chased the Djaffras, Ouled-el-
Nahrs, and other refractory tribes, encainped at the
eastern point of Chott Gharbi.

Bank Stock .. .• .• • • • . 2053
Three per Cent. Reduced 'Annuities • • • 9535 •%
Three lwr Cent. Consols Annuities .. • • 90%38
New Three-and-a-Quarter per Cent. Anns. 97%% %
Long Annuities, Expire Jan. 5, 1860 .. 104 4,
India Stock .. .. • • • • .. 266
India Bonds, 1,000/. .. • • • • • • 27
Consols for Opening .. • • .. • • 97%4
Exel.equer Bills. I%d. 1%0.
1,000/. ••• • • 16 20 Pm.
Ditto, Advertised .. .... 16 12
,pm.
PRICES OF YOREIGN FUNDS AT ONE O'CLOCK.
Mexican Bonds, 1837, 5 per Cent • • 29%
Ditto, for the Account, • • • • 304
Ditto, Deterred .• .. • • • • 16
Portuguese Four per Cent 523 54
Dividends on tile above payable In Lomion.
French Rentes, 5 per Cent. .. 120 f. 50c.
Exchange .. .. • • . • .. 25f. 75c.
Dutch Two-and.a-lialf per Cents. 6038
Ditto, 4 per Cent. Certificates .. 92 % 4 91%
BUSINESS DONE IN RAILWAY SHARES AT ONE O'CLOCK
RAILWAYS. PAID. Pea SHARE
Birmingham aiid Oxford Junction .. 2 •. • • 2%3/, .. to
nekingliamshire .. • • .. • • 425. .. • • par.. to % p
Caledonian •• • • • • •• 10 11%.. ••to
Ditto Halt Shares .. .. • • • • 2% .... to
Churnet and Wyllie .. 2 .... .... to
Cheltenham anA Oxford .. .. • • 2 .• • 14 • to
Derby and Crewe .. • • • • 2%...• .• • to
Direct Northern .. • • • • • 2% ...• 1% %..to
Eastern Counties • • • • • • 14/. 16s. 00... • • 234 %.. to
Ditto, York Extension . • • • . 10s. 14 • . to
Goole, Doncaster, and Sheffluld, &c... 425. .•• 3Y dis. to
Great Southern and Western (Ireland) 20 .. 23 .. to
Leicester and Bedts,rd .. • • • • 225. .... 3g% pto
London and Birmingham • • —100..228 229 227% to 229,
Ditto. Quarter Shares .. • • • • 2 .... 294 • • to
Ditto, nulls •• • • • • 2 .. • • 26 •• • • to
London and Croydon .. • • 131. 15s. 90. .. • 224 .. • • to
London and treenwich • • 121. 15s. 4d. • • 9 .. ••to
London and York • •• • • • • 234 •• .. 24 ••• to
Lynn and Ely .. .. • • .• • • 15 .• • • 13 .. ••to
Manchester, Buxton, and 3latlock .. 425. .. • • 1 p.... to
Mauch ster and Southampton .. • • 2 .. • • 1 %. • to
Midland • • • • • • • • • • • • 100 ....1485, .. to
Dizto, New • • • • • • 18 .... 31%.... to 32
Newcastle and Darlington Junction .. 25 •• • to
Ditto, New, Brandling .. • • • • 25 .... 44 .. • . to
North British .. • • .. • • 223¢ .... to
Ditto, Half Shares •• 83¢ 11%., - to
North Staffordshire .. • • • . 425. .... p.. to 4 p
Scottish Central •• •• 10 ..•• 163 e .... to 16
South Midland • .. •• •• 428. %% dis to
South Eastern and Dover • • 3334 .. 391, .... to
Ditto, New, No. .. • • .16 ... 20 .. ••to
Ditto, New, No. 2 .. .. • • • • 10 .. • 144 .... to
Ditto, New, No. 3 .. .. • • • • 15 •• • 184 •••• to
Ditto, New, No. 4 .. • • • • •• 2% ...• .. to
Vale ot Neath • • •• • • • • • • 2 • • 1% •• • • to
West Riding Union .. .. • • • • 425.• •.. 234 p.. to
York. and North Midland .. .. • • 50 •• .. -• •• .. to
Ditto East and West Riding Extension 1 .... 1138 •• • • to
FOREIGN RAILWAYS.
• • 6 .. • • 774 .... to

Co" tral of Spain .. .. • • • •
Dutch Rhenish • • .. .. ..

Louvain and Jemeppe .. • • .. 4 1 4 .... to
Luxembourg • • .. .. 4 •••• 1% .... to
Namur and Liege .• .. • • • 6 .. • • 314 to
Northern of France Constituted .. 5 .... 1344 .... to
Orleans and BordeauA 6 .... 101,i.. • • to 9N.
Paris and Lyons Constituted .. .. 5 • • • .. to
JOINT-.STOCK BANKS.
Union of London .• • • • . 10 .... 103 • • to
NINES
Real dcl Monte, Unregistered ..

COURSE OF EXCHA]
Amsterdam C.F. 12 10
Dine, at sight • 12 7
Rotterdam .... •• 2U. 12 101/2
Antwerp • • ..
Umnburgh .... • • M.B. 13 15
Anoint. ..... ..........
Paris, 3 days' sight .. . • 2% 85
D•tto, 3 months...... 26 10
hiarseilles •.•.. •• 26 15
Bourdeaux.... ...... 26 15
Frankfort on Maine.... 123
Petersburgh, 3 U 5......
Berlin
Vienna, effee.flo— .. • • 10 11
Trieste, ditto .......... 10 12
Madrid •• •••• • • • . 36
Cadiz • • •.. :
Bilbao.. • . •
Barcelona
........ • • • • • • ..

•• •••• 34 ••
to—
iGE.—(YESTEKDAY.)
Gibra1tar..............
Leghorn ••. • • • 30 70
Genoa .. •• • ..... —.. 26 10
Venice .. ......
Naples
Palermo, per oz..
Li5b0n......... .
Oporto ....... .. • •
Rio Janeiro
Bahia .. • • • • • •
Buenos Ayres • • •
New York, 21 days' sight
Philadelphia ......

PRICIS OF BULLION, PER OZ.
Foreign Gold In bars.. £3 17 9
Portugal Gold Coln .. 3 17 5
New toubloons ...... 0 0 0
New Dollars •• • • 0 4 9%
111 bars ...... •• 0 4 11

LLOYD'S SHIPPING.-(THIS DAY.)
LONDON, Jun: 3.—Wind at noon East, light airs, and
fine clear weather.
SOUTH...MPTON, JUNE 2.—Sld. Severn (s.), West Indies.
DEAL. JUNE 2. Wind E. to E.N.E.—SId. Sir Edward
Ryan, Neal, Cape of Go, d Hope.
LivEuroot„ JUNE 2.—Wind S.E. light.—Arrd. Helen,
Risk, Savannah; Columbia, Rath bone, New York. Sld.
let, Berlin, Bake,, Boston ; 2d, Dumfries, Green, Hong-K,ng ;
Ihrsburg, Smith, Valparateo; Peinope, Chollus, Rio Janeiro;
Philomela, Bell, Berbice; Clifford, Ramer, Jamaica,
Sammie. Downing, La Guayra ; Henry Curwen, Vickers,
ditto; Cincinta, Codman, Baltimore; Thomas P. Cope,
Murcken, Philadelphia; Millicote, Hunter, New York; Eli-
zabeth Denis, n, Spe7)cer, ditto; New York, Cropper, ditto;
Ashburton, White, Roston; John Bolton, Jameson, Quebec;
Virginia, Brown, ditto; Wizard, Carmichael, Labrador.
DUBLIN, JUNE I.—Wir.d Id. May 31, Pomona,
Bentley, Quebec; Richard Watson, M'Cullocli, ditto; Hugh,
Fletcher, Pugwash.
Coax, MAT 31.—Wind E.S.E., light breeze.—Arrd.
H.M.S. Gladiator, on a cruize. Sld. Aboukir, Scott, Calcutta.
Hum., JUNE E.S.E. moderate.—Arrd. let, Baltic,
Allmar, New York; British King, flaython, Charleston.
PENZANCE, JUNE 2.—The Sampson, Sully, from Neath to
Exeter, struck the Vipick RoLk, near Cape Cornwall, yester-
day, and soon after sunk ; crew saved.
'LIMERICK, JUNE I.—The Thomas, Washirgton, Ross, from
Trinidad, is on shore on Whelps Rock, but is expected off
next tide without damage.
NEwrouT, MAY 30.—A mast and two sails, marked
" Thos. Morgan, Cardiff;" supposed belonging to a pilot-
boat, have been picked up on the Nash Sands by the Eleanor
and Mary, of New Quay.
SHEERNESS, JUNE I.—The Integrity, of and for Sunder-
land from Rochester, hooked in moorings this morning, but
is expected off next tide.