The Sun.
London, England, 1869-01-12 00:00:00

THE SUN, LONDON, TUESDAY EVENING, JANUARY 12, 1069

JOINT-STOCK BANKS.

Closing Business
Share NAME. Paid. Price. done
10 Agra Limited, A all 111 121
AO Do B lO 41 54
50 Albion
100 Alliance, Limited
20 Anglo-Austrian
20 Anglo-Egyptian, lim all 17 14
20 Auglo-Iliingarian
20 . Anglo-Italian 1866, limited 10 7 5
40 Australasian
20 Bank of British Columbia all 11 13
20 Do issued at 2pm ~.. 5
25 Bank of Egypt
20 Bank of Otago, lint.
25 Bank of South Austra'ia all
50 Bank of Victoria, Australia '25
19 Bank of i\ ew Zealand all
50 British North American
20 Chartered of India, Austra-
lia, - ad China all
25 Chartered Mere. of India,
London, and China all
20 City 1 /
100 Colonial 25
10 Consolidated, lint.
50 Delhi and London, lint
50 East Loudon, lim 5 1a 01
20 English and American, lim 10 ... ...
20 English Bank of Rio de Ja-
neiro. lim l9 ld pr
20 English, , cuttish, and Aus .
tralian Chartered
281 Hong Kong and Shanghai
Bank Corporation all ... ...
1 new
28 Do
100 Imperial, lim 208 l7 18
20 Imperial Ottoman lO 11 11
.5 lonian all 2/ '2ll
25 Do new 5 pr 1p
so Lnd Mortgage of India, lim 4 38 141
100 Do 5 p. c. Debs.lB64, 30 all 76 78 b 2
30 London Bank of Mexico
and South America, lim. 20 9 7
100 London and Brazilian, Rm. 45 3 t 32
20 Do new 71 61 51
100 London &River Plate, lira. 40 7 9
25 Do new 10 14 11 114
20 London Chart. of Australia all 221 231
50 London and County '2o 50 51 55
20 Do new iss at 20 p.tu, 16 pd ll ... ...
50 London Joint Stock 1 35 36
20 Loudon and South African al 1 12
100 Loudon & S.-Western, lim, 20 ... ...
50 London & Venezuela, lim l2l
... ...
100 Loudon and Westminster 2O 65 67 641 4
100 Do Scrip, iss at 10 pm 2O 621 631 62
100 Merchant, lim 25 7 5
10 Metropolitan, lim all 61 74
100 Midland, 1im.... 2O ld pr
5 National of Australia
25 National of Liverpool, lim l5 3 1 d
100 National Provine. of Eng'd 42 ... '''
10 DJ ...... . . 42 ... ...
50 National. 3O 54 54
20 New South Wales all 42 46
20 North-Western
25 Oriental Bank Corporation all 421 4:i3
50 Provinc. Bank. Corpo., lim. 10 6 .54
100 Provincial of Ireland 25 91 93
10 Do new, all ••• •••
100 Stand. of Brit. S. Africa, lint 25 14 12
100 Do issued at 6 pm. 19 ... ...
25 Union of Australia all 48 49 4)
100 Union of Ireland, lint
50 Union of London

as 40
6 4
30 32
37 39
17 19
bl 453

20 21

29 30
11, 121
40 4:
t 1

MISCELLANEOUS.

CORRFFIPONDENCE FROM PARIS.

'(FROM OUR OWN CORRESPONDENT.,

PAIIIS, MONDAY, January 11.

One of the great events of the year— the publication of
the Budget report—has just come round in due course, and
is of such a nature as to afford reason for some satisfaction.
The French finances are still far from what they should be ;
indeed, there can be little hope of the present generation
seeing a perfect equilibrium, but there can be no doubt
that the budget of 1869 is a considerable improvement on
that of 1868. The report just published contrasts with those
which have preceded it by a general tone of optimism. M.
Magne, having improvement to note, is able to keep out
of sight the great fact that the amount of improvement
effected is not such as to leave the income and expen-
diture of the State in a relatively satisfactory con-
dition. It is true that M. Magne is obliged to
confess that the great loan of last year has not had the
effect of " transferring our financial difficulties into a
flourishing state of things." But he is able to point to
the success of the loan itself, the diminution of the floating
debt, and the gradual rise of the sevenne, as ( ach fur-
nishing matter for congratulation. And such is undoubtedly
the case, though there is a little of the charlatan about M.
Magne's statement. He has made the most of his improve-
ment. He has Taken care to paint a picture as favourable
as possible for the eyes of the electors, who will soon be called
upon to choose another Corps L4gislatif. But, divested of all
exaggeration, the report does spew an amelioration. The
revenue from indirect taxation has grown by £1,360,000
since the last year—a gain which exceeds by £400,000
the increase of 1868 over 1867. The budget
rect(ficatif has disappeared ; that is, the estimates of
income and expenditure have not been so greatly at
variance with the facts as they usually are. Then the
floating debt has been reduced, not so much as was
anticipated; it is true, but still by a sum which brings
it from £36,080,000 to £29,oBo,ooo—just seven millions
sterling.' These are the unquestionable advantages which M.
Magne is a.ble to offer in his latest financial statement. They
are met by serious drawbacks. Passing by the Minister's
glowing account of the success of last year's loan, which
was by no means so unqualified as he represents it,
there comes the serious consideration that, though
M. Magne succeeds in reducing the floating debt, France
has no guarantee whatever that it will be kept at that
figure. In 1864 a loan of twelve millions sterling was
contracted, and by its aid the floating debt, which was
then at thirty-six millions, was brought down one-third.
But it soon mounted up again, so that by 1868 the
unfunded debt had risen once more to thirty-six
millions. Now, of this last loan, it was hoped that at least
ten millions would have been available for the diminution
of the floating debt ; but it turns out that only seven
millions are available. Thus its total has not been
diminished so far as was hoped, whilst there is
not the slightest ground for the belief that the unfunded
obligations will not again mount up, as they have done
since 1864, so as to reach the original figure. There is
every reason to fear, cn the other hand, that such gradual
increase will again take place. The Budget presents
nothing new except these isolated deductions. The general
financial policy of the Empire is in no wise altered. The
old scheme of having two Budgets—one presenting surplus
and looking favourable, whilst the other eats up all the
surplus and accumulates a large deficit—is still retained.
The extraordinary Budget remains, as do the
other obnoxious features of the annual financial
statement. The reductions are reductions of detail.
A policy of peace and disarmament can alone produce a
report which is in any way different.

The latest bulletin of the Marquis de Moustier reports
some improvement, but his condition is still all but hope-
less. He has received the last sacrament from the Arch-
bishop of Paris.

The Government has gaincd another electoral victory at
Lille, where the Opuosition Las almost always Lad the
advantage.

THE WE TABLE-

11E1 ITIZOLOGICAL ELTO'

r'IIIS

,ITS.

THE LOSS OF 711 E MILE: lA.

-0-

The Court of Inquiry into the loss of the Hiber-
nia gave judgment on Monday. The Court was
of opinion that Captain Munro could not be held
respoLsilA for the loss of the ship, the : cci-
dent having occurred, in the engine department.
It had no reason to doubt that the Hibcrnia was
a strong and faithfully-built ship, that her struc-
ture and the machinery of her engine department
were sufficient, and that the diameter of the
shaft was in proportion to size of the engines.
The Court went on to refer to the drawing
of the shaft, and said there would have been no
danger iu this operation, even when it was disco-
vered that the shaft was broken, it the stuffing-box
on the bulkhead had been intact. The evidence
went to show that the water-tight bulkln-a I had
been interfered with, and that one man-hole door
had not been properly &Curt-A. Further, the Court
had great reason to doubt that there was any da-
mage sustained by the stern plates of the vesstl.
While auy hope remained of the engineers being
saved the Court deferred pronouncing judgment on
any alleged errors of commission or :omission, and
were of opinion that the inquiry should be deemed
to be open. The Court, would, therefore make an
ad interim report to the Board of Trade.

MILI7ARY AND NA VAL INTELLIGENCE.

The unarmoured screw frigate Arethusa, 35
guns, 3,141 tons, 500-horse power, Captain Robert
Coote, was paid off, and struck Ler flag at Sheer-
ness on Thursday. All through her period of service
the Arethusa was what is termed in sailor phraseo-
logy a " happy ship," and one remarkable feature
was the establishment by the crew of a saving
bank, the money invested in which amounted to
£1,250. The amount paid to the crew, in addi-
tion to their savings, was about £7,000, and it is
gratifying to know that the payment of this
large sum was not followed by the drunkenness and
dissipation which in former days too frequently ac-
companied the paying off of a ship's crew after a
long commission. The Mediterranean is generally
considered to be a healthy station, but the Are-
thusa lost a considerable proportion of her original
officers and craw by invaliding and (Lath. Only
six of the ward-room officers who went out in her
were on her books when she was paid off. Her
engines (Penn's) are said to be in excellent order,
and very free from wear. It is not thought likely
that the Arethusa will ever again be commissioned
as a sea-going ship; indeed, there is a rumour that
some of her timbers are so rotten that the cost of
repairing her would be too great to incur, when
measured by the results that would accrue.

Mr. John Grant, paymaster, R.N., WIL) has
Leen since tLe 13th of May, 1831, agent and
steward of the Royal 'Naval Hospital at Plynymth,
is about to retire on account of advanced age. lie
is between 70 and 83. It is reported that the Ad-
miralty will not fill the vacancy, but have the duty
performed by one of the senior clerks belonging to
the establishment.

By the promotion of Captain E. Heathcote to
the rank of rear-admiral a captain's pool service
pension is p 1 teed at the disposal of the Right Hon.
C.L. M.P., First Lird of the Admiralty.

Two vacancies occur in the appointment of naval
aide-de-camp to the Queen by the promotion of
Captain W. R. Mends, C. 8., Director of Trans-
pits, and Captain G. T. P. liornby to flag rank.
In consequence of the want of additional factory
room for carrying on the work connected with the
construction of the iron vessels now building at
Chatham dockyard, it has been found necessary to
convert the whole of the space between the sixth
and seventh building slips into a large workshop,
workmen being now employed in enclosing the
space and fitting it up for the purpose of a factory.
Several powerful machines for boring, cutting,
planing, and otherwise preparing the iron for the
vessels building, have already been fitted up.
The screw steam sloop Brisk, 16, Capt. C. W.
Ilope, from the \ ustralian station, arrived in Ply-
mouth Sound on Wednesday morning. She left
Sydney Sept. 3, arrived at Wellington, New Zea-
land, on the 15th, and left on the 19:b, and rounded
Cape Horn Oct. 23. Two icebergs were seen on
that day, two on the 21th, and three on the 25th.
The weather was so fine that studliug.sails wereset.
The B, isk arrived at Port Stanley, Falkland Islands,
on the 26th, and left on the 3 Ist. She reached
Ascension November 29, and s ailed ag Lin on the
3d ult., arrived at Fayal on the 2Sch, and sailed
December 29, since which strong north-west and
south-west winds have been experienced. The
Brisk left at Ascension her Majesty's ships Flora,
Investigator, and Pioneer, and spoke December 20,
lat 26 19N.,10ng. 33 441 V., the American schooner
Irving, of New Bedford ; and on the 25th, lat.
the French bark Vile de
32 45 N., long. 34 3 W.,
Lille. The Brisk brings as passengers. the Rev.
Thomas Bridges, a missionary, and Mr. Lempriere,
late private secretary to the Governor of New Zea-
' land ; also 15 invalids from the Australian station,
and 13 of the crew of the hark Malvern, of Liver-
pool, which was burnt at sea, off the Falkland
Islands, on the 29th of October, when on passage to
the East Indies. fler master was landed at Monte-
video. On the Bth of September Mr. John Syder,
engineer, died at sea of inflammation of the lungs.
The crew of the Brisk will probably be paid off at
Devonport.
In accordance with orders received from the Ad-
miralty, an official trial of Lowe's patent marine
propeller, which has been further improved by his
daughter, Mrs. Vausittart, was made on Wednes-
day off the Maplin Sands. The propeller was fitted
to the Cadmus, screw corvette, 21 guns, 1,466
tone, 400-horse power, under the personal superin-
tendence of Mrs. Vausittart. The principal features
of the propeller are-1, less slip, giving an increased
speed of vessel, with fewer revolutions of engine
and full backing power ; 2d, greater steadiness, or
absence of vibration ; and (consequent upon these),
3d, a less consumption of fuel, a saving of stokers'
wages, and a reduction of the wear and tear of
ship and machinery. The propeller, when viewed
endwise, instead of forming portions of the thread
of a screw, presents a curved line, curving in oppo-
site directions from the centre to the edges of the
blade. The report of the experimental trial made
some time ago gave the Admiralty every satisfac-
tion, and if the report of the present trial be as
favourable there is nothing left to be done in this
direction by future experimentalists. The trial on
Wednesday was undoubtedly successful, the ship
being quite free from vibration. It was a bold
course on the part of the adaptress to risk the re-
putation cf the invention by attaching the blades
to a boss to which they had never been adapted
before ; but the result has enabled Mrs. Vausittart
to fit the Griffiths' boss with the certainty of ob-
taining a very marked advance over all known
screw propellers.