The Sun.
London, England, 1861-07-22 00:00:00

'-')?_EIV CH RAILWAY' OBLIGATIONS.

It appears that the tenders for the new issue of
''‘'6,oooooo French railway obligations have
(ohounted to about £94,000,000 and that as
2,300000 of the total to be allotted is to be given
to exclusive establishments, whose subscriptions
cannot be reduced, there is but £3,700,000 for pro-
rata distribution among the remainder—a sum
which will enable each applicant to have only about
1, per cent.7of the amount asked. This opera-
/Jo:I is officially described as a great success, which
furnishes an imposing manifestation of the power of
the country and a proof of the confidence which the
Government of the Emperor inspires. If the French
"people or French statesmen can persuade themselves
to such an inference, there is no occasion for any
outside observers to disturb the simplicity of the
illusion. But, unfortunately, there are persons,
even in England, and especially in high places, so
little versed in practical finance as likely also
to be led away by it. The process, however, is
imply analogous to that of throwilig a certain sum
'of money to be scrambled for by a mob. The Go-
vernment having resolved to:make a loan, calculate
Price at which it would be sure to command a
Prenaium, and offer it, or a certain portion of it, at
!his price, pro rata, to all who will apply and send
an a preliminary deposit. As the stock is market-
401e at 2 or 3 per cent. premium for several days
before the date for closing the subscription lists, the
ihtnber of applicants is, of course, simply limited to
e number who can rake up or borrow enough
coney
to pay the deposit on the amount they ask
°l', and the result is that this vast multitude, after
"il their pains, get a ridiculous fraction assigned to
g1e133, the profit of which, in the great majority of
n-atses) Would form but a poor payment for their loss
0-` time. The affair in its effect is exactly as if the
-°vcrnment were to announce that they would issue
4 trillion of francs to be divided at the rate of 102 f.
tr"g all who would make tenders. It has cap-
;;tted some persons as if it were a wonderful dis-
dvell') but it involves loss to the Government and
oralisation to the people. Loans under such
th4corastances are always issued at a price below
thlt Which would be given by regular contractors,
eke, Proper business of the nation at the same time
alltaers from the excitement, banking disturbance,
waste of time consequent upon the public
aking deposits upon a hundred millions when
t„ere are only three or four millions of securities
°e disposed of, and individuals, from the lowest
ti the highest, are all encouraged into the arena of
I:e,,lcjobbing, and taught that it is in this sphere,
8p her than by steady attention to their legitimate
'locations, that they can best distinguish them-
aeq,es as good citizens. It may be questioned if
t,o;°llg the engines which can tend to corrupt a
sv:,.lltrY any could be found more potent than this
)1" 'Lein of offering bribes to the populace from the
°arse.
Th,

-e late rains have caused serious accidents in
de Parts of France. On Monday last the driver of a
att Bence belonging to the Messageries Imperiales Company
k song
to cross a rivulet running across the high road
Atibenas, in the Aredche, and which in ordinary sea-
the is nearly dry. When the coach reached the middle of
-;ee current, swollen by continued rains, it upset. Of the
Passengere in the coach, one, a commercial traveller
to and a child in its nurse's arms, were drowned,
dr:Cuer with the postillion. Two of the horses drawing the
11-B.,enee were likewise drowned. The accident occurred at
I„elnek in the forenoon.
fiIRE CLERKENWELL.—Yesterday evening a
aor°, attended with a serious destruction of property, broke
nt in
the premises of Mr. John Dawson Ashworth, iron
d brass
founder, and Messrs. Whitmee and Co., steel mill
'iskers
holt. 11, Ray-street, Clerkenwell, near. the Sessions-
in the Brat The fire originated, from some unexplained cause,
13-Oer, used as the factory, and, when discovered ,
Was
obtained such a firm hold as
to endanger the neighbour-
Zia6tsiPire'nisess Engines were soon on the spot, and there
good Supply of water, but the flames net extinguished
were Mr. Ashworth's and Messrs. Whitmee's premises
444
upa.rtially consumed. The loss will fall upon the Sun
won Fre-ofuces•

I I Closing Business
Sharel Railways.
IPaid i Price. Done.
25 Blythe and Tyne 10 per
c. pref: (issued at £si, all
stock fsris. & Exet.4 p.ct.stock 100
20 Do. do. do. Shares
stock Caledon £10,41 per cent 100 101 103
stock Do. Quar. Shares, No. 2. 100
01 Cork & Bandon, 54 p. c. all
20 Cornwall, 5 per cent all 20 21
61 Dun.Perth&Aber.Jun
14 Do Ist Class Pref all
stock E.Angn.Class A 7 &5 c. 100 99 101
stock Do. do. Class B 6 p.c._ 100 108 112
stock Do. do. Class C 7 p.c lOO 105 108
stock E. Coun. Ex. sp. c. No.l 100 107 109
stock Do. do. No. 2 100 106 106
stock 1)o. New 6 per et stock. 100 122 124
stock Eastern Tinton, 4 per ct. 100 78 80
stock I Do. 5 percent. gear... 100
stock Edin.&Glas.sp.c. shares 100 109 111
stock Do. 4p. c gua. S. &D. 100 90 92
stock I, Min. Perth& Dun. 4 p.c. 100 75 77
stock i Furness, 5 per cent .... 100
stock IGlas.& S. West.g.a. 5 p.c 100
stock 'Great Northern, sp. ct 100 115 117
stock Do.sp.c.Redrn., 10 p.c.pm 100 110 112 1111 10
stock Do. 44 p. c. do. do.
100 1)0. sp.c. Redm. 5 p.c. pm 80 106 108
10 pt. Nh. of Scotld. Ist pf. all
stock
5 G t.Sn. & W (Ireland) 1 100 97 90
1 p. et, pref. stock )
50 Great West. (Berks ant'
Rants) Ext. sp. ct 6
stock Lo. Redecmable,4l p.ct 100 96 98
stock Do. Redeemable, 4p. ct. 100 87 90
stock iDa Irredeemable, do lOO 88 90 SS
stock IDa.
Do. 5 p.ct. Redeem. Pref lOO 100 102
8 Do. Birm. Pref. Shares all 91 10
10 (It. W. Ches. 8 p.c. ptsli. all 161 174
10 Do. do. sp. et. pref all 101 101
stock Do Birmg.guar. stock lOO 74 76
204 I Do. Chester gua. shares all
100 21b
131 Do. do. do.
20 Do. do. do.
100 Lan. & Carl. 41 pc. pref O9
stock Lan. &York 6p. c. stock lOO
stock Do.Barnel.stXs 38 10d pc 100
stook Do. 6 per c. (E. Lan.)
stock T,on.& Brig.s pc.gu.No i 100 114 116
stock Do. sp. c. No. 2 100 114 116
stock Do. gua. 6p. o.
stock Do. do 5 p.c. No. 4 100 114 116
stock Do. do. 44 per cent lOO 101 103
5 Do. do. 41 p. c. shares all
100
stock Do. 7p. et. Pref. stock. 150 155
stock Do. 6p.c. do. (W.E.&C.P.) 100 127 130
stock Do.4p.c.S.(div.def.til '65) 100 71 74
stock Do. 4 per cent. Fret lOO
stock Lon. Chat. and Dover lOO 88 98
Do.W. A reeiv. no div
10 Ex.A til 6pcispd on 1 all —
1
Do. B B. & Brom ex. all
10 Do. Metropolitan Ex B 31
stock Lon. and N.W. Cov. and
Nuneaton, sp. et lOO
stock Lon. & 5.W,7 p. et. stock 100
stock Do. 41 per cent lOO
23. 6d. Do. (Prtsm. perpl anns
at 2a. fid all
12 Londondy. & Cole. 1 sh. all
12 T,ondony. & Ennis. 1 sh' all 134 11
stoc Man. Sh. &Lin. 6 per ct' 100 125 127
6 Do. £6
stock Do. 3} per cent
10 Do. redeem. 6 percent 5 4 I 1.,
121 7.laryport & Car., 4p. c all
124 Do. 41 per cent
stock Mid. Con. 6p c. stock lOO
stock Do.Con.Bris. & Bir. 6 p.c lOO 134 136
stock Do. 41 p. c. pref. stock lOO 102 103 1024
6 Do. 41 per cent 3
stock Do. Leic. & Hit. pref. at lOO 92 93
stock Norflk sp. c. Ex. st. 1816 100
stock Do. 51 p. c. Pref. do 1847 100
Block Do.sWay.Val.Ex.stlB47 100
stock North British, 5p.0. ~ 100 110 112
stock
Do. New, gua. SP. c.
10) Do. Bor. ITn. g. pt. ;he 5 1 11 p
10 i Do. do. do all
at Nth.Dev.Rail. &Dek.Co. 100
st N-East.Cons.Pret 4 p.c. 100 91 93
st Do. 41 pa. redeemable lOO 101 103
st Do. G.N.E. per pref lOO
I • c. 104 106
17 Do. Berwick, 4 p.c. Pref. 8.13.4. f (p P
120 Do. Leeds, 6p. e. No. 1 13 --
121 'Do. do. Quarters, 1848 9
25 'Do. York, 11. &S. Purch. 10 4d 4p
20 North Staffordshire all 22 23 224
10 Rhymney Guaranteed. all
81 Scottish Central, new pi all
st Scottish North-Eastern
31 p. C. pref. stock lOO
at Do.Aberdeen,gua.6p.c. 100 --
et Do. 7p. a pref. stock 100 132 134
10s. South Devon, Ann. 10s. all 10 104
10 Do. Fixed 41 per cent. all
1.0.6 South Eastern (Reading
Ann., 1.0.6)
at Do. 41 per cent. lOO 99 100
st Do.Fixed44p.c. lst is. 100 99 100
at South Wales, gua.l p.c. 100 88
st S.-Yorkshire, 4
at Do. 41 per cent lOO 98 100
25 Stock. & Dar. A 5 p. c.,
aallll
at Do. 5 per cent' lOO
P. c. gua lOO 85 90
264 271
25 Do. B 6 Der cent..
100100 1244 124 T -- 4
25 Do. C 6 per cent . . .... all n 31144 324324 ftla
as
tt Wwagifdd
_dzo 12liknetyer,u6atia.t.j.k
st Do. 2d do 100 118 120
I st Do. Newport 5 p.c.pf.red. 100 100 103
st Do.Perpet. 6p.c. pi 18661 100 120 122
',? at Do. till 1869, Ist is.l 100 115 117