The Sun.
London, England, 1859-06-08 00:00:00

THE ATLANTIC TELEGRAPH.

The Atlantic telegraph as a means of communica-
tion has long been totally defunct, and the hope-
lessness of its case may be said to be officially recog-
nised in the present effort on the part of the company
to raise another large sum for a fresh wire.
Whether the shareholders will subscribe fresh
capital remains to be seen, but the prospect of re-
imbursement of their present immense losses can
hardly be said to be of a very tempting character
when held out by a company which has exhibited
so many proofs of disunion among themselves, and
of mismanagement in the undertaking they had to
accomplish. For some time past negotiations have
been in progress with the Treasury as to the nature
of the guarantee which the Government would
offer to the subscribers of fresh capital. The com-
pany, of course, had to obtain a !guarantee of so
much per cent. on the new capital, whether the
wire was successfully laid or not. To this pre-
posterous request, which, if granted, would in fact
have amounted to a Government premium on a
repetition of the blunders wnich have marked all
the company's efforts to lay the cable, the Govern-
ment at once refused, to listen. The only arrange-
ments, therefore, which the Government have
provisionally, entered into are as follows :
"Ari. 1. A dividend of 8 per cent. per annum, to be
guaranteed for 2.5 years, upon such portion of a new capital
as shall be called up and expended in establishing commu-
nication with America, not exceeding in the whole the
sum of £600,000; this guarantee to commence when the
cable has been successfully laid, and to subsist while it is
capable of being worked at the rate of 100 words per hour.
" Art. 2. A minimum sum of £20,000 per annum to be
paid to the company for Government business during the
time the new cable is capable of beigg efficiently worked as
above.
"Art. 3. The company to be allowed to expend £20,000
out of the new guaranteed capital in attempts to make the
existing cable available for business.
" Art. 4. If these attempts are successful, the Govern-
ment will immediately commence to pay a minimum rent
of £14,000 per annum, which rent is to be increased to
£20,000 per annum as above so soon as the new cable is
brought into successful working order.
"Art. 5. The existing arrangement of the compan.y with
the GoNertunent of the United States is not to be interfered
with.
"Under that arrangement the Atlantic Company will be
entitled to a minimum rent of 70,000 dols. per annum for
the business of the American Government, so soon as the
communication is established with Newfoundland.
" Art. 6. The Atlantic Telegraph Company are to trans-
fer to her Majesty's Government that portion of their privi_
leges, under their agreement with the New York, Newfound-
land, and London Telegraph Company, whereby they derive
the exclusive right of landing on the shores of Newfound-
land cables intended to connect Europe with that country ;
but the Government will not grant to any other company or
persons any right of landing cables in Newfoundland
so
transferred to them, unless the guarantee and contract re-
ferred to under articles 1 and 2 shall have proved efficient
in raising the requisite capital, nor until by the instrumen-
tality of such capital telegraphic communication shall hav
been established across the Atlantic ; it being understood
e
that, in case of failure either to raise the capital or to sub-
merge the cable with such success as to be enabled to work it
at the rate of 100 words per hour required by Government,
the company shall permanently revert to its present posi-
tion in respect to all its privileges, including
rights now existing under the agreement w its exclusive
thevlu;lewe
York, Newfoundland, and London Telegraph Company."
These terms, of course, fall immeasurably short
of what the sanguine expectations of the company
led them to expect they would obtain, and there
seems very little doubt that they are not such as
will induce the shareholders to sanction the issue of
preference shares to an extent of nearly £600,000.
Even the sanction of the shareholders, the attempt
to raise such a sum in the present state of the
money market (and in the face of two new com-
panies, each of which, unfettered by debt 'and
without troubling the Government, is actually
preparing to lay cheap Atlantic cables) is not
likely to be attended with the success which would
at all warrant the old company in going forward.

The following is the official report of Genera
M'Mahon, addressed to the Emperor :

" HEAD-QUARTERS, TURBIGO, JUNE 2.
"Sire,--As I have already had the honour of informing
your majesty in a first report, the enemy. blew up the bridge
of San Martino yesterday at about five in the evening, re-
treating to the left bank of the Ticino.
" This morning at daybreak General Epinasse advanced
with a brigade to the tete-de-pont, which the Austrians had
abandoned at his approach. He found there two mortars,
two field-pieces, and some ammunition waggons.
"According to your Majesty's orders thb 2d Corps left
Novara this morning at half-past eight for Turbigo, with
a view to. cross the bridge over the Ticino, which had been
constructed the previous night under the protection of the
division of the Voltigeurs of the Iraperial Guard.
" On arriving at Turbigo I found s, brigade of that divi-
sion on the right bank of the Ticino, occupying the village
and the neighbourhood, so as to assure us the free poSses-
sion of the bridge, and covering the valley above the
village. The other brigade of Camou's division was =the
right bank.
" The head of the column of the let division of the 2d
Corps crossed the bridge at half-past one. While visiting
Turbigo, and reconnoitring the heights of Rebecchetto,
with a view to place my men, I suddenly found an Aus-
trian column within 500 metres of me, apparently com-
ing from Buffalora, with the intention of occupying Re-
becchetto .
" Rebecchetto is *situate on the left bank of the river
Ticino on the east, about two kilometres from Turbigo. It
is a large village which may be easily defended, and which
it would be very advisable to occupy, to oppose an enemy
coming from Milan or Magenta, with the intention of con-
testing the passage at Turbigo. The village is situate on a
horizontal plain °l5 or 20 metres above the valley of the
Ticino. Leaving Turbigo, it maybe reached by two roads,
both practicable for artillery, one south the other west.
"The high road from Magenta and Buffalora runs east.
This latter is the road taken by the Austrian column.
" b ordered General de la Motterouge, who had only then
the regiment of Algeria} Riflemen with him, his her
regiments being 011 orrthe 14t hiujir of, the river,4l ad,
vance his three battalions of riflemen on Rebecchetto,.kind
tc place them in three columns of attack, as follows :
" The Ist battalion, forming the right, in column by
division, preceded by two companies of sharpshooters, to
attack the village on the south side.
" The 3d battalion, forming the left, similarly organised,
to attack the village on the west side.
" The 2d battalion, in the centre, sothewhat in the rear,
forming the reserve, ready to support either battalion, also
in column with advanced sharpshooters.
" Thethree columns, gradually advancing, were at a given
signal to concentrate on Rebecchetto, and, entering the
main street, which runs from west to east, were to endea-
vour to cut off the enemy's retreat.
"While General de la Motterhuge was carrying out these
manceuvres with the Algerian Riflemen, I myself took the
requisite steps to bring up the other regiments of his divi •
sion. The 45th of the Line, second regiment of the first
brigade, received the order to follow.the track of the Alga-
rian Riflemen.

"About 2 o'clock General de la Motterouge advanced
with his three battalions on Rebecchetto, followed by a
battery of the general reserve of the army, directed by
General Auger in person.
"The columns of. Algerian Riflemen, urged on by the
voice of General de la Motterouge, and by their colonel,
advanced on Rebecchetto without firing.

" They were received by a heavy I& of musketry from
the Austrians, whereupon they charged with the bayonet.
In ten minutes they had cleared the village of the enemy.
At the outlet of the village they brought their guns into
play, and fired some 12 rouns of grape, which had no effect
in stopping the ardour of our men. Our guns opened in
reply with such success that the enemy was obliged to run
for it. The riflemen followed them to within two kilometres
beyond Rebecchetto, and killed a great number. General
Auger, by making his battery take up four different posi-
tions, happily selected, did them great damage.
" In one of these positions General Auger, fancying he
perceived an Austrian gun in the high corn that had some
difficulty in following the retreat of the others, galloped up
to it and took possession of it. Near the gun he found the
officer in charge cut in two by a cannon- shot.
" While this was taking place at Rebecchetto a column
of Austrian cavalry appeared on our left, coming from
Castano.

" I advanced a battalion of the 65th and two field -pieces
against it. Two shots sufficed to make it retreat.
The enemy has suffered considerably. The field of
battle is covered with dead and arms of all sorts. We have
not made many prisoners, which is explained by the nature
of the ground upon which we fought.
" On our side we lost one captain killed (Captain Vanne-
chout), four officers wounded, one a colonel of the staff (M.
de Laveaucoupet), seven soldiers killed, and 38 wounded,
amongst whom four, I am told, are Voltigeurs of the Garde,
whose sharpshooters were engaged with the enemy in the
rear of Rebecchetto.

" I cannot as yet, Sire, give to your Majesty precise de-
tails of this affair, which gives an additional proof of what
your Majesty may expect from our soldiers since they have
entered on the campaign.
" I have not as yet received the official reports of those
who most distinguished themselves. All bravely and
worthily did their duty ; but I may point out to your Ma-
jesty General de la Motterouge as having given proof of
irresistible energy; General Auger, for the deeds men-
tioned above, and which, according to our military code,
deserve mention in the general army orders; Colonel
La-veaucoupet, who, Nit Itile-ftliting baud to litendith the
Austrian riflemen, received a bayonet wound in the head ;
Colonel Laure, of the Algerian Rifles, for the skill with
which he brought up his men against the enemy.—l re-
main, sire, your Majesty's very humble and obedient ser-
vant, " DE APMAIION."

The Minister of War has received the following
report of the combat of the 31st May at Palestro

" PALESTRO, May 31.—About nine o'clock in the morn-
ing the 3d regiment of Zouaves had just established its
bivouac on the right of this village, and on the right bank
of the canal della Cascina, having before it that obstacle,
when some cannon shot, followed by a sharp fire of mus-
ketry, opened against the bersaglieri and other Sardi-
nian troops which were in advance of the Zouaves,
announced the approach of the enemy. The colonel
orderei his regiment to get at once under arms, and led
them about 500 yards to the right, on the side where the
firing was warmest.
" The Austrians, who had assumed the offensive, ad-
vanced rapidly. They first deployed four companies as
skirmishers in the corn which covered the men, and the
regiment was formed into a column of attack. The fire of
musketry soon became exceedingly warm. At this moment
the colonel perceived that a strong column, supported by
artillery, was endeavouring to turn the position as well as
the village of Palestro. He then dashed forward with his
whole regiment against the enemy's masses.
" After having rapidly crossed the canal in front, which
was about three feet and a quarter deep, the Zouaves reso-
lutely attacked the enemy with the bayonet, and imme-
diately took three pieces of cannon, which had kept up a
murderous fire:. On seeing the Zouaves reach the heights
where these guns were posted, the enemy fled in disorder,
and two other pieces of cannon which were in their rear
were also taken.
" The column of attack then advanced on the main body
of the enemy in the direction of the bridge of Cofianza, on
the river Busca. This bridge was strongly defended by
two pieces of artillery. The Austrians, who had impru-
dently engaged a part of their masses in front of that river,
were violently driven back by the impetuous charge of the
French troops. They. were almost entirely annihilated,
from the impossibility in which they were placed of effect-
ing a retreat.
" More than 600 remained prisoners in our hands ; a
great number, which may be estimated at 800, were drowned
in attempting to cross the river Busca, and a number of
others were killed on the spot. Although the bridge over
the river was obstructed by the two pieces of cannon, and
the horses harnessed to, them (three of them killed), the
colonel ordered his men across to the other bank, and after
having formed them into a strong column, continued his
movement forward.
"The Austrians, supported by their reserves, continued
to retreat in good order, abandoning two other pieces of
artillery. They were pursued as far as the river Ritza
Biraza, at the village of Robbio. There the forward move-
ment stopped, the jenemy, who was already at some distance,
continuing to rapidly retreat. The 3d Zouaves have taken
nine pieces of cannon, and about 700 prisoners, of whom
nine are officers. On our side the loss has been considerable,
46, including one captain killed; 229, of whom 15 are offi-
cers, wounded ; and 20 missing. (These last named fell
into the river Ritza Biraza when driving the Austrians
into it)."

SPORTING INTELLIGENCE. *

TATTERSALL' S--YESTERDAY.

The winding-up act was satisfactorily enforced this after-
noon, and all Derby accounts may now be considered
settled. The Mr. W. referred to last night sent in
his balance sheet, and the offer of a compromise, which
was not, however, in every instance accepted. Still his
liabilities will, it is said, be Sdjusted after a fashion. The
only inconvenience experienced was occasioned by this case
of default. The bookmakers generally met their liabilities
with promptitude.

CHELMSFORD HANDICAP.
Even on Greek.
4to 1 agst Pan •

ASCOT GOLD CUP.
3to 1 agst Leamington (taken)
7to 1 agst Summerside (taken)
DERBY, 1860.
20 to 1 agst Lupullus
25 to 1 agst Pelion colt
1000 to 30 agst Restes
40 to 1 agst Thunderbolt
40 to 1 agst Bentinck
50 to 1 agst Buccaneer
50 to 1 agst Barrowby
10,000 to 150 agst Contadina

BETTING AT MANCHESTER,.—TUESDAY.
Very little betting here, most of the time being occupied
with the settling for the Derby and Oaks.

MANCHESTER UNION CUP.
Bto lon tho field (offered)
TRADES' CUP.
4to 1 agst Gladiolus (taken)
6to 1 asst Underhand (taken)
10 to 1 agst any other (offered)
ASCOT STAKES.
Bto lon the field (offered)

EXPLOSION AT 111ANCHESTER.—Yesterday morn•
ing, about 8 o'clock, an explosiion of gunpowder occurred
at the house of Mr. Mitchell, in Greenhi 1-street, Green-
hays,Manchester. The explosion appears to hav e taken place
in the second story of the back part, where a quantity of
fireworks were in store. The two upper rooms of that and
the adjoining house were completely demolished. The
cause of the explosion has not been discovered. There was
no loss of life.