The Sun.
London, England, 1861-07-13 00:00:00

NAY X.
The Marlborough, 131, screw, Cap, iMryvv.o
art, C. 8., steamed out of Portsmouth /eaturteii.`
terday at high water, on the complctioif h
outfit as the flagship of Vic-Admiral Sir W. F.
Martin, Commander-in• Chief in the Mediterranean.
On clearing the harbour's entrance she exchanged
the usaal honorary salutes with the Victory, flag-
ship of Vice-Admiral Sir H. W. BruceeComman-
cler.in-Chief at the port. After having tested her
machinery, &c,, in Stokes-bay, the ship anchored at
Spithead, where she will complete her sea stores,
take in shell and powder, and be officially inspected
by the Commander-in-Chief, prior to her sailing for
Malta, which, according to present arrangements,
will take place about Tuesday next.
Orders have been issued by the Admiralty to the
Commanders-in-Chief at Sheerness, Portsmouth,
and Devonport, that the sailing ships in ordinary
at each port not in commission are for the future to
be placed in charge of the Captain of Steam Ordi-
nary at each port, and that the words "sailing ordi-
nary" shall bo abJlished and the term " reserve"
shall be substituted, embracing the whole of the
vessels at each port out of commission. Warrant
officers in the sailing ordinaries are in future to be
borne on the books of the guardship of the reserve
as supernumeraries, and those only who are em-
ployed in charge of stores of the Ist division, or in
coal depots, are to be in receipt of sea pay ; men
and boys employed as ship-keepers in sailing ships
are also to be borne on the books of the guardships
of the reserve. As many of the pensioners employed
in sailing ships in ordinary are unfit for active ser-
vice, and the Admiralty desire that many of the
old sailing ships at each port should be sold or
broken up, the most infirm of these pensioners will.
be discharged, and their number gradually reduced
to 100 at each of the three ports, who are to be
'capable_of working aloft. The places of the men
discharged-'' ill be filled up by supernumerary
seamen returning from leave after foreign service,
and not immediately required for sea-going ships.
The complement of Royal Marines on board guard-
ships of reserve will be increased so that sentries
on beard ships out of commission in harbour may
be supplied from the party serving on board the
guardship, and not, as at present, from the head-
quarters of the division on shore.
The guardships of sailing ordinaries at each port
will be put out of commission on Monday next,
from which date the " steam" and " sailing ordi-
naries" merge into the " reserve."
Considerable changes are about to be made in the
convict establishment at Portsmouth, the earliest
of.which, it is said, will be the reduction of the
number of the convicts in the prison from 900,
about the present number, to 500. It is also re-
ported that convict labour will, at as early a date
as possible, be entirely removed from the dockyards,
and its place supplied by seamen from the ships in
the reserves and ordinary labourers, such convicts
as may be retained in the port being then exclu-
sively employed in the War Department.
The Accountant-General, Sir Richard Madox
Bromley, K.C.8., yesterday visited Woolwich
Dockyard for the purpose of making arrangements
for the accommodation of the new Auditor-General
of Accounts,—an office about to be established in
each of her Majesty's dockyards.
Her Majesty's steam iron-screwstoreship Supply,
Master Commander W. H. Balliston, from the
Mediterranean, is made fast alongside the Hebe at
Woolwich, in readiness to enter the basin for the
discharge of her cargo, which consists of naval
stores from Malta, and about 30 cases of ancient
marbles excavated by the direction of Government
from the ruins of Cyrene, and intended for the
British Museum. The Supply on her passage out
was detained some time at Gibraltar undergoing
repairs, having lost her propeller and shaft, and
her stern tube having been broken in several
places.
Lieut.-Col. Clerk, Royal Artillery, yesterday
assumed the duties of superintendent of the Royal
Carriage department of Woolwich Arsenal, in suc-
cession to Col. Tulloch, promoted as Director of
Ordnance.
The undernamed gentlemen have been nomina-
ted to naval cadetships :—Mr. C. S. Donner, Mr.
G. M. G. Jerrard, Mr. J. H. Martin, and F. C. W.
C. Rogers.
The following appointments were made yester-
day at the Admiralty :—Thomas Seccombe, surgeon
to the Cambridge; John M'Swiney, surgeon to the
Sanspareil ; Owen J. Llewellyn, surgeon to the
Intrepid ; Charles W. Ecles, paymaster to the Re-
venge ; and W. H. Dutton, paymaster to the Cum-
berland. In the naval promotions in yesterday's
paper Commander G. A. Brine's name was mis-
printed " Bruce."

THE BIDDINGSIOR THE NEW INDIA
LOAN.

(From the Daily .News' City Article.)
FRIDAY EVENING.

This has been a day of great excitement in the
City. Noon to-day was the latest period allowed
for lodging tenders for the new India Loan of
£4,000,000. Similar eagerness to subscribe has
scarcely been witnessed in the memory of our oldest
financiers. The crowd of applicants at the Bank at
12 o'clock was enormous, and considerable confu-
sion was occasioned. The Stock Exchange remained
in a state of great suspense until half-past 1 o'clock,
when it was officially announced that the Govern-
ment reserved price was 98 per cent. Soon after-
wards it transpired that the numerous bidders at 99
and upwards would certainly reeeive the whole
amount applied for, but considerable doubt pre-
vailed with regard to the fate of the heavy tenders
at 984, which are said to have included a total of
£1,700,000 from one great Hebrew house alone.
In answer to the applications which were addressed
to them, the Bank authorities could only state that
the tenders, some 3,600 in number, were being
opened as fast as possible, and that the result should
be made known at the earliest hour practicable.
The business community finally quitted the City
under the impression that all bids at £9B 16s. and
upwards were safe, and that some limited per ten-
tage of the amount applied for would probably fall
to the share of the subscribers at £9B 15s. At that
period ail the large tenders had been opened, but
numerous smaller amounts remained to be sorted.
It was shrewdly surmised in 'some quarters that, as
these small tenders were probably for the most part
from permanent investors, the general average of
the biddings might yet be raised higher; and this
has proved to be the case. Towards 8 o'clock this
evening it was officially intimated to the press by the
Bank of England that the main results of the bid-
ding are as follows—The aggregate tendered for is
upwards of £21,000,000. The highest tender
lodged does not exceed £99 Bs. The lowest
tenders that will obtain an allotment in full are
those at £9B 18s. 6d. Those at £9B 18s. will re-
ceive about one-third of the amount applied for.
All tenders below £9B 18s. are wholly rejected.
This result differs so widely from the impression
which was current this afternoon at the close f
cca.
business that great disappointment iirilll_
sioned.
financial power of the
ness this new proof of the dian securities must
Five per Cents. 'with
holder of
,rlonm
Indian Government.
the manifest im-
coul\nietia
,wahnidl Meanwhile itve
every
is exceedinglyis ssahtoi swf anc to r
morey t
clearly w t-
derive fresh encouragemefntthre
prrrhoevecmomenptetiintiothneocfrethdeition
than ever.
the English Three per Cents.dia

Five per Cent. Loan for £4,000,000
(From the Times City Artielc.)
Tho
was con biddin s
morning with great suc-
cess, many of the g being at prices so high
as to yield at the current market quotation little
immediate profit to the applicants. The minimum
price fixed by the Council 'was, as on the occasion
India
aed yesterday
of the £3,000,000 Loan in February last, 981, and
the aggregate amount tendered for is over
£21,000,000. All subscribers at and above £9B
18s. 6d. will receive the full amounts asked, but
those as low as
£9B 18s. will get only about a third.
Five individual firms tendered for an aggregate of
£4,000,000. The highest application was £99 Bs.
The bidding of Messrs. Rothschild was for
£1,500,000 at 98S, and they will not receive any
portion. In the February loan they applied for
£1,000,000 at that price, and obtained the whole.
The general applications at that period were for a
little more than four times the amount required.
In this instance, although the loan is larger, the
applications have reached more than five times the
sum wanted. In February, after the completion of
the contract was announced, the scrip went for a
short time to 3 premium. In the afternoon, how-
ever, the premium was only about 1- per cent. on
tile minimum price of 981, and apparently there is
belief in the Stock-Exchange that much of the
stock will prove to have been obtained by weak
holders. The detailed examination of the tenders
will be conducted at the Bank of England, Itnd the
letters of allotment are, expected to be isew 1 to-all
from that establishment.