The Sun.
London, England, 1869-06-14 00:00:00

TilE SUN, LDND -MONDAY E-VGNE-.NO,- JUNE 14, t. 6).

time when its hold would be strongest. me iearned
gentleman dates his address from Clifton llall,
declares the identity of his opinions with those of
the deceased baronet, and has the support of Lady
Clifton herself. Lady Clifton—to whom Mr. Bernal
Osborne attributed his defeat at the last election—
has written a letter in favour of her husband's
friend, in which epistle occurs the following pas-
Aage

notice. 1n tnat respect Air. Lowuei. says he is
more fortunate than his friend, Mr. Wig, of Swan-
nore, Isle of Wight; who first found he was in court
on reading it in the papers,

FOREIGN NOTES.
Tim RIOTS 2N PAM

The disturbances in the streets of Parrs have grown
gradually worse since the elections terminated. On Monday
there was nothing more serious than a crowd to com-
plain of ; on Thursday thaeseape from a collision between
the people and the troops was very narrow indeed.
Nobody seems to quite undealtand this effervescence.
The Liberal leaders all repudiate the riots ; they are
discountenanced even by the Rappel and the sup-
porters of Bancel, Rochefort, and Gambetta ; and yet
they, have been renewed night after night. The Daily
News correspondent is inclined to apprehend serious
results. He is positive that if. the Emperor attempts to
treat FrancAs he did after the coup d'etat there will be a
revolution. "lib and his dynasty and his system of
government are execrated by the country. The difficulty
of getting rid of him, and the sense of the necessar:- evils
of any violent change, may enable him to make himself
tolerated as a; pis alley, but any attempt to reverse the ver-
dict 'of the elections by violence will drive the people to
desperation." T'ie correspondent of the Standard expresses
precisely the same belief. The Parisians would never tolerate
another Second of December, open boulevards, guns, and
troops notwithstanding. This is, perhaps true ; but the
welcome which the Emperor and Empress have received
when they drove out on the boulevards on Friday spews
that there is a eltss in France which doesnotdesire revolu-
tion. The correspondents of the Standard, Daily News,
and Part Mail Gazette all agree that if the police had not
behaved so roughly on Monday the riots would never
have taken place,

If my assurance to your society- will aid Mr. Digby
Seymour's cause, I tell you now, as I already have done,
that it was my husband's repeated wish that Mr. Seymour
should stand as an independent member for the town he
loved so well. Mr. Seymour was his true and tried
friend, as he is mine, and he has my sincere wishes.
It would be some consolation to me to see' Sir Ilobert's
friend returned because he was his friend. Trusting it may
be so, I am," &c.
The resign 'ion of Colonel Wright, which some of
the papers have demanded, does not seem likely to
take place. The Colonel now writes that he never
promised to resign. What he did was to remark.,
when talking with Mr. Seely about the election
petition, that " One thing is certain—petition or no
petition—l shall not remain long in Parliament,
probably, not more than a session ; as the report I
have just received from my physician is such that I
should be a fool to disregard it."

POST PRANDIAL ORATORY.

The Bishop of Oxford attended on Friday the
banquet of the Merchant Taylors'• School, is‘nd re-
plying to the toast of the " Bishops and. Clergy,"
told the company what he thought a bishop should
be in these times. '• He should be a man who•feared
God, who honoured the Queen in truth and righteous-
ness, and who was not given to change." Lord
Stanley responded at the same meeting
.to the toast
of " The House of Commons," "and made allusion
in his speech to the present constitution of the
Lower Chamber of the Legislature. It would be
idle, he declared, to say that the result of the late
election was altogether satisfactory. Personally, he
confessed he was somewhat disinterested in the
matter, for it was far pleasanter to have the agree-
able duty of criticising the performances of other
people than to be called upon to •do that which was
calculated to excite criticism against oneself. More-
over, he believed there was just as much public use-
fulness to be shewn by those who were ready to put on
t_ie Crag, it necessary, as by those who were trying,
as national coachmen, to driVe on faster and faster
every day. If they could only manage to keep out
of foreign trouble and to lessen their debt, or, at
least, not to increase it, the differences Which. now
existed would doubtless be settled somehow, and the
country would, he trusted, rapidly increase in-
material prosperity. The Earl of Sandwich, on the
same occasion, referred to the action of the Lords on
the Irish Church Bill, and expressed his belief, that
the Peers would do their duty firmly, and hoped
that in so doing they would have the support of the
country. •

ment, in opposition, the Court reserved its decision.
The Michigan Southern and
.Northern Indiana is likely
to give rise Oanother railroad war. John S. Prouty and
other holders of construction Clock to the amount of some
millions, applied for an injunction restraining the direc-
tors from disposing of the property until the plaintiffs t►e
paid arrears of interest on the shares. The application
was made to Judge Clarke, in the Supreme Court Cham-
bers.

dently
bent on battle, and is determined not to be taken
alive, and his whoops and shrieks corns over the ocean on
every blast that blows."
President Woolsey, of Yale College one of the best
authorities on international law, delivered two lec-
tures to the senior class on the subject of Mr. Sum-
ner's speech. He denies the existence of any con-
nection between theNeutralitvProclatnatiOn and the
escape of the Alabama. lie pronounces the theory
of "ocean belligerency" to have an existence only iu
Mr. Sumner's imagination. lie .considers that the
holding
that English Government had grounds for issuing
Proclamation free from all unfriendly bias,
that a neutral might infer, from the condition of
things at the time in America, that a state of war
did exist,: Stripping, then, the -question down to
its pith, he. declares that the departure of the ve-sel
was illegal, both municipally and internationally;
and such was Lord Russell's culpable negligence
that; on reading the evidence,
he felt I;ke shaking
him. WO recommend this idea to our pictorial
conternporaries.who arc now busying their brains
so much on American subjects; "Little Johnny
being well shaken by Dr. Woolsey,' might form an
interesting cartoon. The professor thought-it neces-
sary to remind his bearers that he had not been
bribed by British gold.
•
It was announced last week that Sana'or. Stunner,
Governor Curtin, and other leader's of the Republi-
can party, intended to make the Alabama claiois
the party cry in the autumn elections. If they would
do so they at least are assured of the Irish vote, to
get which the least American and most revolution-
ary cry has. always to be raised, That Mr. Sumner
would approve Of any such course is highly im-
probable, for it plainly bears all that is objec-
tionable on its face. The Executive alone has the
authority to take the initiative on such questions, I (From the Springfield Republican, May 29.)
The Money Market continues well supplied with funds,
and a most popular Administration is now in office
and the rates of interest are equable and moderate. Two
at Washington. The Alabama of tim is not a or three heavy failures at New York, nd the quarter of a
domestic qut scion, and cannot be settled by the million deficiency in the Atlantic National Bank of Brook-
triumph of any political party in the United States, lye, eatised a little tightening up of rates, and temporary
nor could thattriumph influence the President to do caution among capitalists, but aside from these episodes
has marked the
no decisive event
what he thought unjust. To make a party cry is week. The call for
money has not, however, been excessive, and, on the whole,
to split the nation, not to combine it where it
ought to be combined for it is a subject involving feeling
things have been pretty evenly balanced The general
among bankers seems to ba that they'have got.
the danger of a foreign war. To combine it down to the summer rates, std that affairs will be quiet
would be simply to proclaim that war if the party and easy for some time to come. The receipts of .cur-
could carry its platform into practical effect, while '
rangy at Now York from the interior are fallingbut
off,,
to take such a course is to remove the subject out the payments of the income tax will continue large for
of a Court, and to make the plaintiff judge on his
several weeks, affording a deposit for considerable surplus
cash, which it is not expected Secretary Boutwell will put
own case. Mr. Sumner is not the man to perpe- back upon the market. Messrs. Henry Clews- and Co;, the'
trate such follies, nor is the Irish party one likely well known New York bankers, in their last public circu-
to commend itself to the Senator. The following Jar thus express-their views on the immediate future of the
was one of yesterday's telegrams.:—:‘, The Irish Money Market :—" It may be assumed that we have now
Republican Association at Philadelphia has issued an fairly entered upon the usual summer period of ease, and a
•• may therefore• be
addresgstrongly approving of Mr.Surnner's speech on , std decline in the rate of interest •
• anticipated. In some quarters, a nee demand or
the Alabama claims. The -address calls upon all true money has been expected from the West, in connec-
Irishmen to join the RepubliCan party in aiding the tion with grain movements at the opening of naviga-
enforcement of Mr. Sumner's views." Toivhing , tion ; but, for obvious reasons, no such movement has
•
this subject generally, a telegram from New Yindt • 'occurred; the greatly reduced prices of western pro-
states that the preposition recently put forw:ircl by dude .having rendered it difficult for that section to
some of the Republican party that the Alabama settle its .deferred; obligations for winter pure .axes of
question should be male a party issue at the corning merchandise at the East. The Secretary of the Trea-
sury has adopted a policy, relative to the currency hal-
elections in the autumn has been widely discussed. ante of. the Treasury, which is well calculated to con-
As yet, however, no decision has been arrived at, tribute to a steadier condition of the money market, and
Jimmy of the leading Republicans 'being divided on to obviate that dependence of the banks upon the Tree-
the question, and there will be moie discussion be-
sury, which has been equally indefensible in principle and
fore a proposition so idiotic could be decided on. unwholesome in its results. Mr.. Boutwell very properly
considers that there is no necessity for the Treasury ho
RAILWAY ITEM .--•--Cincinnati has awoke to a ing from 20 to 40 millions of currency in its vaults. We
grand idea, nothing less than a direct railrdad from that.. believe this policy has been 'adopted after consultation
city to Mobile through Chattanooga. to vain :has Cin- with the Committee of Ways and Moans, and that it may
cinnati contended against Chicago and St. Louis for the I now be considered as a settled feature of Mr. Bout-well's
North-West and West, for the onward stride of events has administration. The banks will in future undo stand
converted Cincinnati into an Eastern city. So she has • that it will be useless to expect any special consideration
turned her eyes southward towards
.the• Gulf of Mexico. from the Treasury in periods of pressure, and will there
The Ohio is a treacherous, snaggy, ill-conditioned river, fore anticipate future wants with less dependence upon
now running almost dry, then furiously and 'difficult to ' extraneous relief, an independence as salutary to the pub,.
stem, and Cincinnati .does not approve of New Orleans, lie as it is convenient to the Government. There is no
so it proposes to continue the 112 miles of the road already especial change in the financial situation at the Western
constructed through Kentucky to Nichola-ville for 249 money centres. Chicago is well supplied with money,
miles further to Chattanooga, at an outlay of $9,000,000. and the banks are loaning freely at 10 per cent, per annum,
It is thought that such a road running l arallel with, and with an improved demand from the country forcurreticY.
midway between the Atlantic and Mississippi through the The tremendous pressure brought to bear on Secretary
fertile States of Alabama, Tennessee, and Kentucky, would Boutwell to force him to stop the sale of Treasury gold,
itself create a large traffic, and be alike profitable having proved fruitless the premium has steadily fallen,
to the shareholders and the cities it thus brings and is still receding. The weakening began on Monday,
into direet communication with the Gulf.—From Bos- and the subsequent tendency has been all ono way. The
ton it is announced that the Board of Directors have efforts of the speculators to frighten the Secretary out of
been elected for. the Union Pacific Railroad. Judge his policy, by forcing up the price of gold, having only
Barnard's processes have had the effect of placing an uu- resulted in doubling the amount of Lis weeklo sales, they
due number of Massachusetts men on the board to free have apparently concluded to turn their attention to
the Directors from that persecution. The following gen • some more inviting field, and of late have quite neglected
'lemon wore elected :—Oliver Ames of Maesitchusens, the gold market. The Treasury sales will hens-forth
President; Benjamin, E. Bates of Massachusetts; Sidney occur on Mondays mid Thursdays one million on
Dillon of Now York; John Duff of Massachusetts, Vice- each day, until further orders. Last Monday's sale.
President ;C. 11. strieemiek of New York ; W lliam T. real'sed 142 k -an advance of 8 per cent. over the pre-
Glidden of Massachusetts; 0, H. Bushnell of Connecti- vious one, and immediately after -,,he 11,..ic--a or gold
cut; F. G. Dexter of Massachusetts; R. P. fia2z trd of fell newly 1 nor pee+. Tee foreign imperts continue to be
Rhode Island; H. Atkins, C. A. Lantherd,l). S. Chapman, enormous, and the firmness of the gold premium is un-
E. IL Baker, John R. Duff, and F. Nickerson of SI issa- doubtedly due, in great measure, to the general expecte-
chusettin. J M. S. Williams of Massachusetts was elected eon that our exports of specie during the summer will be
Treasnron; and E. U. Rollins of New Hampshire, Assist- unusually heavy. The imports fur the week ending Sa-
ant TreaOrer. Vin•e-Presiiltit Decant,. in a grac .ful let- turday, 22d, amounted to the enormous sum of $7,071,090
ter, tendered-his resignation, while announeing that he in gold, against $3070,371 for the corresponding time last
would retain his interest as the largest stockholder, hay- year. The dry goods imports increased 50 per cent., and
ing faith in their econo nical man &gement. John J. Cisco those of general merchandise 119 per cent. While this
and William •U. Macy have also tendered their resigna- increase is going -on, another unfavourable process is in
tions, theit business tyieg them to New York, while, as they progress in our export trale, which ie steadily diminish -
say, theioffice has very properly been removed to Boston.— ing, almost in equal ratio to the increase of iinports. The'
The Erie;Cenpany has taken the receipts Of the Atlantic difference for the last week between the exprots and hu-
mid Great Western Company, an-I kept them ; and it must ports was $1,300,010 in gold, in favour of the latter, arid
be satisfactory at least to Messrs. Fisk, Gould, and the at that rate the climax of the process must soon be reached.
other directors, to find that the business of the roe(' hes This state of things, with the fact that, our shipmei,t of
greatly improved, .and realizes every anticipation. It is bon& abroad must soon diminish, from a scarcity of sup-
announced mrbehalf of too Pennsylvania Railroad that the ply, if from no othsr reason, fully justifies the expectation
stockholders registered on April 30, 1869, will be entitled of a heavy shipment of gull and an appreciation of its price
to take up•2sTer cent, of their respective interest in the in our market. Sensational rumours of Cuban independence
new stock as follows :-First, Fifty per c iat, at the t:mo and of triple alliances may have something to do with it, but
of subscription, b aween the kith day of 11,/a5,, 1869, and their influences will oo but slight compared with that of
the 30th day of June, 1809. Second, Fifty per cent b'- this enormous indebtedness which we are daily accumn-
tween the 15th day of November, l 83:), ash the alst .1 :my latine against us. The situation is, however cleary appre-
of December, 1869, or, i' stockholders ssoLtio prefer, the heed( dby the bast informed bankersaild importers of the
whole amount may be pail up at the time of siit,criptlon, country, and there is no reason why, ferewarned, they
and eaeh instalment so pod shall b e entitled to a pro rata should not b forearmed. G ivermisint Bonds have been
of the dividend that may be seciassi of fist shares. rather dull and inactive under the decline in gold, and
Third, That every stockholder holding less than four a falling eff of the foreign demand. The sensitiveness
shares shall be entitled to subscribe for one share; and of the London and Frankfo: t markets, while it does
those holding more than a multiple of four snares shall be not amount, to a positive uneasiness, is plainly ape
entitled to subscribe for an additional share. Fourth, All parent, and the securities of the United States are taken
shares upon which instalments are yet to be paid under with a little more caution than heretofore. Secretary
resolution of May 13, 1863, will be entitled to their allot- Boutwell continues his purchases of ono million in bonds
meat of the 25 per cent. at par, as though they were paid weekly for the sinking fund, hut has given no indication
in ful—eThe directors of the Michigan Southern and for the intentions to double the amount as compared with
Northern Indiana have issued their report to March 31. his increased sales of gold. The purchases of Wednos-
The road, 521 miles long, is in good order, and well sup- day were mostly Five-twenties of 1862, and were secured
plied with rolling stock; capital being $21,000,000; the at 1161 to 1.61. All the purchases thus far male will go
earnings for the year were $5,000,000; the expenses, to the credit of the sinking fund, and-this department will
$3,000,000, of which $1,200,000 were spent in repairs and , appear in the next monthly statement of the debt. The
$361,461 in now and re-rolled rails. Eight per cent. has opposition to the Secretary'a policy of purchase has gene-
been paid on the common stock, free of tax, and regular rally subsided,, and most of the advice now furnished him
dividends are assured on common and preferred stock; gratuitously relates to the expediency of retiring the Three
85 miles of road have been relaid; 107 miles havenew ties; ; per Cent. Legal-tender Oertificates, of which the banks
139 miles ballasted, and 59 miles re-fenced. The elevator held, on the Ist of May, $53,097,000. To this action the
burnt at Toledo has been rebuilt.—The survey of the Secretary is advised by some of tho best bankers and
Southern.branch of the Union Pacific Railroad, which is . financers of the country, but the experience of his self-
to run from Fort Riley, Kansas, down the Neosho Valley appointed counsellors on the sale of gold will probably
to Fort Smith, Arkansas, was commenced last December. I render them more modest in the future expression of their
Sixty miles are to be constructed' by next September, opinions. The chief objection to retiring the certificates
and the 'whole road is under contract. Tee Com ,is that it would be "contraction," of which the West and
pany have a grant of. 1,310,000 acres of land, and its Congressmen have so much terror, and that Congress
$BlO,OOO in County Bonds_ have bon, subscribed by at its next session Might in correction interpose some new
the COMA:O3 through which it passes.. Five thousand sfengled scheme, which would seriously impede the opera-
emigrants from Copenhagen have paid their pas- ' tions of the department. On the other hand, tho redemg-
sage and 30,000 Swedes are expected during the sea- I tion of the demand for certificates would relieve the Go-
son, to settle on the lands belonging Io the company.—
vernmeut from all danger of future trouble by their
Ten freight cars have been built to run between Chicago i presentation at an unpleasant juncture, and any • con-
and Boston—changing twice on the route from ono I traction which would ensue could be relieved by reducing
gauge tO :the other. o The de lice- is
,simple--consist- the currency 'balance of the Treasury. Redemption and
on the inside of the wheel
ing of a tube or 'sleeve' contraction, both are most desirable and both would have
and holoogeneons therewith, through which the
ultimately a most advantageous effect, but if both are iin-
axle passes, being fastened 'thereto by keys dropped
practicable, then one is better than neither. The Five-
into the axle, which aro held in place by a longitudinal i twenties, which the Secretary is now pirehasing, do not
pin, itself secured by a screw. A car can .be
changed mature for years tO come at the earliest, and the holders
from one gangs to the other in twenty minutes, the keys can at no time. force the Government into difficulty,
being taken out, and the cars three at a time being run which is not altogether impossible for the possessors of
along a widening or narrowing track. --Buffalo has con- the Three per Cent. Certificates, should the present large
ceived-the idea of a railway direct to Portland, Maine, outstanding amount continue undiminished. The railway
which would bring it into communication with the At- and general stock market has had an unusually quiet week
!antic at a distance only of 480 miles. A meeting was of it, and soma days have been positively dull. The Van-
held at Buffalo, May 27. Charters have been granted by. derbilt Roads have successfully pushed through all their
the States of Maine, New Hampshire, and Vermont, schemes which were in the New York Legislature all
and a pyrtien of the lino is alte„is in progress, winter, and consolidation of the New York Central and
Messrs. John Wilkinson, James 0. Putnam, and A. P. Hudson River Roads, on the basis of a hundred millions
Nichols were: appointed a co-operative committee.— capital, is the next stop on the programme. The Central
Fifteen hundred miles of srailinaci are under contract in Stock, which now sells for 190 odd, is to be further wa-
Indiana.-The chicego, Rock Island, and Pacific Rail- tered up ,
to 200 and as the dividend 'en the Consolidated
road is now , completed to Council Bluffs, and will be Road will not be less than 8 per cent., the ultimate value
opened immediately for -business.— The certificate of the stock will not probably be less than 215 or 220.
of incorporation of the straitsville and Hocking The shares of the Chicago and North-Western Railroad
Valley Railroad Company was Mod
at the Secretary are also coming rapidly up in the market, in consequence
of State's office, May 10th. The proposed railroad is to of the opening of the Pacific Railroad, and its prospective
extend from the aqueduct at the month of Monday Creek, large increase of freight and
passenger traffic. Its daily
in Athens County, to otraitseins, io Perry county, the earnings now amount to the comfortable sum ofss
o,oOloe,
line to pass through Hocking county, with several and its gains for tde last four months Lave been t 0
lub
branches in Athens and Hocking
sioal [toad' tax stock is s2oo,ooo,comities. The mad, those of any other Western Road. It will sown
f however,
in sitens of $5O. The have to fight sharp competition by the hock i
completed,
and
corporators are William T. Ackler, irimet Hamlin, John whose track to Council Bluffs, Indiana, is
E. Riach, F.ttleis*.J. Krieg, tins t,ewis Zinimi3rman will soon be open for business. The
Pacific Mail Steam-
The• Fort AWayneYne road has been lees - ship ei by the Pennsyl Company suffers by
the inauguration of the great
vania Central, the latter paying 12 per cent. on the pre- overland all rail route, and in spite of it three per
.
_Ji_no 1, 'its stock has
sent capital of the Fort Wayne. The Atlantic and Great eont, quarterly dividend, payra.,hhiee
9aa•year lease of the
Western litigations(Angel plaistiffs cone before Judge fasten nearly 10 per cont. 1
a
Clarke on May, the 27th,- on •plaintiff's motion to fore- Pittsburg-, Fort Wayne, and Chicago Road to the Penn
lg
Penn-
close the second divisional niortgage on the ground sylvania Central, has not yet been fully consum--
of non-payment of interest.
effort was made to mated, but is reported to be . favourably progress-
have the case transferred tc Chautauqua C 0.,• the ing. Dullness still reigns in the dry goods market,
mortgaged property Wizefs located there. Alter argu- _ and now that the spring eemou ie over will probably

THE FRENCH ATLANTIC CABLE.—A farewell en-
tertainment was given on..!Thursday on board the Great
Eastern, now lying off Sheerness, where she has shipped
her portion of the French Atlantic Cable. A special
train took d'iwn from Charing-cross to Stroud a large
party of guests, who were conveyed by boat to the ancho-
rage of the big chip 14 or 15 miles down the Medway;
and the assembled company on board the Great Eastern.,
included Lord Houghton, Sir Samuel Cr nning, Sir Jame,
Anderson, Sir Wm. Thompson, Baron d'Erlanger, Baron
mill Baroness de Stern, Lord William Hay, Cap'aln
Sherrard Osborne, Ptofessor Jerkin, Mr. Renter, Ur.
henry Clifford, and Mr. Cromwell Tarley, who acelm-
paLies the expedition as consulting eng'neer is place
Of Sir Wiliam Thompson. The - Great Eastern kayo:,
Portland to-day, awl proceeds to BreSt, where the.
operation of laying the cable will have been com-
menced by the. Chiltern, a vessel entrusted with a few
miles of the heavy shore end. The ships will meet at
an appointed
.spot; and the Great Eastern will pick
tp the buoyed cable at sea. •Then, after spicing and
testing, she will continue the work begun by her. at-:
tendant ship. She will have other attendant ships in
this dritieal voyage_ the StAnderia- and the William
Cory ; or rather they will have preceded her across the
Atlantic, to lay the American shore end of the cable. -at
St. Pierre. Sir Samuel Canning has charge of the expe-
dition, and Capt. Halpin, who was chief officer under Sir
James Anderson, will, in consequence of that officer's re-
signation, take the command of the ship.

MONEY .IAD BUSINESS.