The Sun.
London, England, 1851-05-27 00:00:00

LONDON, TUESDAY
_EVENING, MAY 27, 1851.

THE FRENCH REPUBLIC.

TILE SHARE MARKETS

We have received the Paris journals of yesterday.
It is now evident that the PRESIDENT has, to se-
cure tbe support of the parti-pretre, consented to
sacrifice the right to the suffrage of those who elected
him, and to maintain the restrictions of the Law of
the 31st May. The Con*litutionnel is evidently pre-
paring to back out of its advocacy of universal suf-
fnge. In an article, signed by Dr. VERON, and
published yesterday, that worthy mouthpiece of the
Elys6e declares that although the LEON FAucnER
Ministry has declared against universal suffrage, he
shall not withdraw one tittle of his support from them
on that account. It is, however, very doubtful
whether M. DE MONTALEMUERT bas not overcalcu-
lated his strength. The following letter, addressed
by M. LEO DE LABORDE to M. NETTEMENT (in
which he classes Bonapartism end Socialism in the
same category), shows that a considerable and influ-
ential party of the Lcgitimatists have declined to
" march through Coventry" with the ragged regiment
of the Rue des Pyramidss. M. LEO DE LABORDE
says—
"My dear collesgue,—On the 28th of the month of
January last I said in the t:ibune, as the Al onileur and
all the journals prove, that when the moment should
arrive for demanding legally the revision of the Consti-
tution, I would present in the tribune a proposition of
which the first article should be 'France returns to
hereditary monarchy.' None of my friends blamed this
declaration. Since then all the events that have occurred,
and all the disquietude which agitates public opinion,
have concurred to make the presentation of such a pro-
position still more necessary. I believed then that I
should have been consistent, and should have fulfilled
ian engagement taken in
presence of my constituents,
by presenting on the 26th of this month a proposition
conceived in the following terms:—' ring Art. 11l of
the Constitution, enacting that the National Assembly
may in the last year of the legislature demand the total
modification of the Constitution, I propose that the Legis-
lative Assembly, consecrating that principle, shall adopt.
these resolutions :—Art 1. France returns to the legitimate
and representative monarchy. Art. 2. In the forms
and at the period prescribed a Constituent Assembly
shall be elected to decide on the return to the traoitional
and national principle of hereditary succession. Art, 3.
This Assembly shall be elected by universal suffrage, re-
gulated, but not restricted.' I caused this proposition to
be preceded by some considerations which it is useless to
reproduce. The meeting of the Rue de Rivoli has una-
nimously rejected ray proposition, and every other of the
same kind. If the sentiment of discipline, which honours
parties and causes their force, imposes on me the obliga-
tion of submitting to this decision, I owe it to my con-
stituents to explain an inaction so contrary to my ante-
cedents and my promises. Since the Elysean party seeks
with as much cunning as activity to draw the country
into the worst of solutions, it is not to be feared that the
want of our initiative will leave to the tutuie only two
issues squally fatal-11 naparliem and Socialism? To
avoid such an altetnative, it would have been better, I
believe, cilifiding in the wisdom of the country, to have
expressed, with our usual political probity. wisbesin con-
formity with the most stored interests of France."
In the meantime the R-'publicans entertain, and we
think with reason, the most sanguine expectations
that there will be no revision of the Constitution, but
that Louts NAPOLEON will be succeeded by a Pre-
sident who will consolidate the Pt-public. The fol-
lowing is the argument of the Notional on this point :
"Revision of tee Constitution! About that measure,
what noise, what hopes, what alarms! To hear some,
the empire is to be proclaimed; to hear others, the ro
gency of the Duchess of Orleans, or the restoration.
Many, not comprehending the solution, think that the
Republic will be endangered. Let us just examine the
case. Will the Constitution be revised? No. Why
so? Because the required majority will never be at-
tained, owing to the firmness of the Republican opposi-
tion. That established, there remains another hypo-
thesis put forward by the reactionisis. You think that
there will be no revision, say they, because you oppose
it? Who tells you that 3 our assent will not be dispensed
with? Dispense with us! That is nothing more or
less than a revolution, and who will dare to attempt it?
But, between saying and doing there is an immensts dis-
tance, and before attecoptill a metter like that, a party
looks twice; first, because men reflect maturely before
they throw their onintry into civil war; and next, be-
cause, supposing that fortune favoured you, who is to
kuuw who will profit by the victory, for if the Re-
public is what divides you the least, what you would
have to put in its place is what divides you the most."
BUSINESS t/ONE IN FOREIGN RAIL WA YN Ar THE
LONDON STOCK EXCHANGE, NAT 26.
Boulogne and Amiens, 95,;;—Central of France (Orleans
and Vierzon), 17—East Indian, 16!,i—Northern of France,
11%.

done

MONEY and COMMERCIAL NEWS.
CITY, TWO 0 CLOCK.
The sales of Cotton at Liverpool yesterday were estimated
at 9,000 bales, of which 1,000 were taken for exportation and
1,500 on speculation. The sales comprised about 8,000
American, 500 Egyptian at 6%d. to 81,5 d., and 500 Surat at
31Sd. to 414 d. per lb. The market closed firmly.—Railway
Shares were firm at previous rates.
Although the advises from Liverpool are, upon the whole,
more satisfactory than they were about a week since, they
do not relieve us entirely of the impression that more than one
firm has been shaken through the recent fall in Csiten to an
extent that will not easily be recovered, and that their
position may even yet be regarded as critical. We indulge,
nevertheless, a si sere hope that the unfavourable rumours
in circulation will not be verified, and that by forbearance
and tact the hou.es involved will recover themselves,
having mostly smile means, although perhaps not int-
medisdely available. The accounts from America are more
favourable for the speculators, as far as they confiri..
previous statement of frosty weather but prices had no,
risen upon it in the United States, the arrivals of the plant
being so large at the sea board.
Halifax papers received contain another of Mr. Howe's
railroad dispatches, dated London, Ap'il 4th. In this do-
cument Mr. Howe states that he will be prepared to show
the Lieutenant-Governor of New Brunswick that while, by
accepting the generous and advantageous proposition of the
British Government, New Brunswick would obtain two
railroads for a trifle more than one made with her
own resources would cost, she would, by falling
into the general scheme, run but little risk,
and throw into her wilderness lands in a ve y
short time at least half a million of people. We
find, likewise, in this dispatch, reference made to the terms
upon which the British Goverrment is content to aid the
provinces. He says they are not less favourable than those
given to the propri, tors of encumbered estatee in the mother
country. These parties pay for 001. ste ling 614 per cent.
for twenty-two years, which extinguishes the debt,
paying in full principal and interest. Those, he
ssi remarks, who wish the colonies to make their
our railroads with American capital or contractors, propose
that we should give our debentures, redeemable in 25 years,
and bearing interest at 6 per cent. If they did this, it is
quite clear that they would make a r inous and unnecessary
85)i sacrifice, paying in interest alone a sum nearly equal to tr e
whole amount borrowed by either mode, and then having to
repay the principal besides. Referring to the debentures
issued by the city of Montreal in favour of the
Portland Railroad, we are furnished with the following
piece of information to show their value in
the London money market, unsupported as they are by the
Provincial or Imperial Govereme t, namely that the agents
of Blackwood and Co. (American contractors), who ac-
-11 cepted, as part payment of their work on the St. Lawrence
(la 3 and Atlantic Railroad, 125,0001. Six per Cent. City of Mon-
treal Bonds at par, sold them lately in London at the price
is 84 of 70 per 1001. Mr. Howe concludes his dispatch
by stating that he will be prepared to submit
propositions by which any amount of funds which may
be required can be obtained, on provincial credit alone, at 5
and 6 per cent., from banks and individuals of the highest
respectability, who will r ispose of our debentures on the
most favourable terms. He further states that he will be
[54% prepared to submit the offers of capitalists and contractors
; sem who have made one-third of all the railroads its the
19 United Kingdom, and who will complete working plans
at their own expense, lodge thirty thousand polliMS in the
Provincial Treasury as a pledge of their good faith, and con-
struct either Nova Scotia's own lines (should the provinces
not agree) on all the lines contemplated by Mr. Howes's
letter of the 10th of Marcb, on terms much more favourable
than any railroads have been, or can be, completed with co-
lonial or Am -rican funds.
The pecuniary subscribers to the movement for establish-
ing tribunals of commerce now represent the following
branches :—Corn, s ine, Brewers, Coal, Colonial, Hyde,
German, Greek, Sugar Refiners, Brazilian, East India, North
tl America, Architects, Manchester, Spanish, Sweden, Stock
Exchange, &c. The number of members in the committee
has also been increased.
The Stock Market has been very firm, but Consols have
not touched the highest price of yesterday, and the amount
of business doing is very limited. The quotations have been
97% to 98 for Transfer, and 97% to 9 , for the Account The
die. New Three-and-a-Quarter per Lents. have been quoted 98%
dit to As, and the Three per Cents. 97 to 14. Bank Stock has
been firm at 21014 to 211. Exchequer-bills have been quoted
40a. to 425., and ladle Bonds 495. to 5 is. premium. Consols
now are 97% Ye for Money and Time.
Foreign Securities have h en steady, but not animated.
Spanish Five per Cents. bring 20,4, and the Passive 57i3
to 6. Portuguese Four pct. Cents. have been 32 to 3/4.
Peruvian Deferred Bonds have been at S 8 to 3815, and
Equador at 3%. Buenos Ayres have risen to 58%. Brazi-
lian are 89 to 90. Russian Four-and-a-Halt per Cents.
„,sll,„ii have been at 10114 ; arid French Three per Cents. at 56.60,
4, with the Exchange at 25.
Railway Shares have given way, and this is again more
the effect of inertion than of a pressure of sales. The 1001.
shares are about los. to 1/ lower, and South-Eastern have
declined to nearly the same extent. The smaller shares are
%to 4 worse. Foreign Shares have been merely a shade
cheaper. Some of them, at the present rates, are considered
to offer a very decided temptation for investment, and most
of the French lines would pay a buyer 7 per cent.
QUARTER TO THREE.
971
97k 93
ONE • CLOSING
PRICES OF BRITISH FUNDS O'CLOCK. PRICES.
Bank Stock
3 de Cast. Reduced Anna,
3 per Cent. Consols Annuities....., 9B 97% 97%
New 314 per Cent Anna „..
New 5 per Cent. Annuities 122 124
u -,nne. Gv exott, se.. - 7 5-16 7 5-16
Ditto, 30 years, Oct. tit 1859..,.,, 7 1-16 7 1-16
Ditto 30 years, Jan. 5, 1860 7 9-16 7 5-16
India Bonds, (sem_ . 51 p 48 p
Ditto under 1.0001. 49 50 p 50 p
clonsole for Account 9B 973 i 97X
Exchequer Bills
"
1,0001.
Small.
Ditto Advertised .. 40 37 p
ONE
PRICES OF FOREIGN FUNDS. O'CLOCK.
Bsasitan Bonds...
Ditto, Account
Ditto, New, 1829 and 1839
Buenos Ayres Bonds, 6 per Cent....,,, 58,4
Chilian Bonds 6 per Cent ....
quador Bonds
per Cent. 1846, with Coupon; -•
Ditto, Ex Jan. Coupons
Ditto, Account
Peruvian Bonus, 5 per Cent,
Ditto Deferred ..... 38 38%
Russian Ronda
Ditto, 4% per Cent
B.vou.sh !, per (lent. 1840 ..........
Ditto Account....... ......
Oitto, Passive 5% 6
Ditto. 3 per Cent. 4O
Dividends on the above payable in London.
French Rentea, 3 per Cent
Exchange
Dutch 2% per Cent. 12 Guild —
Ditto 4 per .

m the

Could)
Ditto Account, June 10 ...

42 p
45 p
41 p
CLO:AIN7
PRICES.
88
89
88
1031,
3 'hi

347/8
38
)12,4,
101

201,2
6
40

59t
90

LLO YIY:s IPetAlit.-4 I HIS DA V.)
LONDON, MAY 27.---Wind at noon N.W., moderate
bre. and fine.
DEAL, MAY 26.—Wind N. to N.N.E.—Arrd. from
the river and sailed from Cicero, Grenada. Sid. the
outward- bound.
Cow Es. MAT 26.—Wind N.N.W.—Arrd. Sylphide,
Bremen, for Grey town, San Juan de Nicaragua. Sld.
Scindi4n, St. Helena.
GENOA, MAY 21.—The Levantine steamer put back
to Nepl a 15 h May, with some damage.
BOSTON, MAY 14.—The British brig, Wy ke Regis,
from Cardiff, grounded on the bar at Wilmington, N.C.,
but was expected off the following tide.
BRISTOL, MAY 26. Wind N. W.—Arrd. Superb,
Havanna; Matiner, Buenos Ayres; Rambler, ditto.
NEWPORT, MAY 26 —Wind N.W.—Sld. Brilliant,
Fernado Po; Stirlingshire, Mobile.
LIVERPOOL, MAY 26.—Wind N.N.W.—Arrd. Jane
Duffus, Patagonia; Hawkhill, St. Domingo. Sld. Eliza-
beth Bruce, Mobile; Guimchae, Calcutts• Hebrides,
ditto; Eliza Morrison, Bombay; Plata, Rio Janeiro;
Ann Hope, Maracaibo; Margaret, Charleston; Runny-
mede, B4y Chaleur; Argo, Quebec; Huron, ditto; Jobh
Wiahart, Newfoundland. The Sovereign, Porritt, sailed
from Halifax, United States, ou the 4th of March last
for this port, and has not since been heard of.
HALIFAX, MAY 12.—The schooner Bloater, St. John's,
Newfoundland, to Placentia, was dismasted 27th April,
and want on shore in Lawne Bay on the 21st; crew
saved.

MARKET NE Ws.—(THIS DAY.

HAY 111.11.1tieETS.

ISMITHFIELD.—AIimsdOw tiny, 31 Os to 41 6s; Clover,
3/ 5s to 4110 x; and Straw, 1/ is to 1f 91 per load.
A moderate supply, and a sluggish demand.
CUMBERLAND. Meadow Hay, 31 Os to 4/ 8s;
Clover, 315 s to 41 8s; and Straw, 1120 to It lis per load
Trade steady, at our quotationg.
WHITECHAPEL. - Meadow Ray, 31 Os to 4/ 7s;
Clover, 3/5s to 4/ 10s; and Straw, 1/ Is to 11 10s per load.
Supply good, and trade dull.

COLONIAL.
SUGAR. —The market for Brit,sh Plantation is heavy,sales
about 620 Wads, kn., including 323 Jamaic Trinidad, Gre-
nada, and Barbadoes, at 33s to 404 6d, establishing,,andiecbalainse
of 6d to Is per cwt since this day week. Bengal,
mostly sold on rather easier terms; 1 ,iv to ml t Benares 381
6d to 41s, and Date kind of similar description at 334 to
3.3 s 6d.
FOREIGN.- A cargo of 1,700 13( vs yellow Havannah
have been sold privately. The quantity of British Plan.
tation lan ed last week at the East and
there
India Docks was 8,519 hhds 40 00 9 tierces 1,5 barrels; h
were taken for home consumptions 664 hhds 96 tierces 107
barrels. Ma stock in the same places is 1,107 Laid, 1,604
tierces 3,027 barrels.
COP7SE. - 230 bags 46 casks Plantation Ceylon, are e
auction, were mostly bought in above the present market
value.
Ross.—The market is dull. The quantity landed last
week, at the East and West India ocks, was 796 puns 16
I
hhds; there were taken for home consujiption 132 puns, 12
hhds; and exported 19 puns 37 hhds. The stock in the same
places is 11.874 punss B
1,467 hhds.
hsciollid steadily,
Rice. - 2.046 beg
for low to good mid bite. at 83 6d to 9s 6d
Smogs. -1,030 bags black Peprr, eastern, went at a fur-
-1)d per lb, iro
ther decline ot
3d m 4 to 3d, good half heavy
Malubar sold privately at
T.tra,ow.—P. Y. C. is 373 per lb.
not l IA on the spot, and Town 38s.
COTTON.... Alt hough
doing,
gt
.11
analis a TEA. There is not much°
same. Tile London deliveries last week were larger.
rptricicleesisadreulahbout the

CHANCERY.—(THIS DAY.)
This was the first day of Trinity Term. His Lord-
ship sat at ton o'clock, at.d proceeded with tl e c•ise or
Hay v Gray, an appeal :notion, whieu occupied him the
Whole morning.

ROLLS' COURT.—(THIS DAY.)
His Lordship give judgtnunt tray morning in several
Unimportant causes, and then proceeded to hear motions.
TICE-CHANCERY.—(THIS DAY.)
(Before Vice-Chancellor K BRUCE )
His Honour this morning disposed of a number of
short motions.

(Before Lord CRANWORTH)
His Lordship was occupied the whole morning with
an i.pplication to dissolve an irjuaction against the
booth-Weiteria Rail WAY.