The Sun.
London, England, 1857-05-01 00:00:00

TIIE 01101,1 T MOBILIER OF FRANCE.

The Gener.l Meeting of tlie.shtreholdersof this
Company was held at Pais on the 28,..h of April ;
M. Isaac Pereire in the chair. Tue meeting being
declared duly constituted, the President rosoand
read the report :

" It commenced by declaring that the difficulties
experienced in the money-market during the past
year had naturally restricted, in a considerable
degree, the opetations of the Company. During
the years 1853, 1854, and 1855, its duty bad been,
in the midst of war and scarcity of food, to encou-
rage the industrial development of the country ; but
in 1856, ow ng to the immense impulse given to all
kinds of enterprises, when peace set in, its task was
rather to restrain ian to urge forward. Be-idea,
the note inserted in the Monitetcr on the 9th of
March, 1856, showed that the wish of the Govern-
ment was to limit iu a very decided manner the
issue of all new securiies. Still the company had
very materially aided in forwarding useful works,
and in enabling the country to support the mone-
tary crisis which broke out towards the end of
1856. It subscribed for 250,000,000 f. (10,000,0001.)
to the Government :cyan of 750,000,000 f.; the pur-
chases of recite made by it to support the public
funds amounted to 1,849,8161., representing
capital of 40,000,0001. (1,600,0001.), the greater
portion of which stock the company was still pos-
sessed of ; the sums which it had supplied to the war'
ket at each set tlement of the account, to facilitate the
carrying over of rents, might ba judged of by the
fact that on one occasion it amounted to 95,000000 f.
(3,800,000/0, and that the average was 44,000,0001•
(1,760,0001) ; in addition, it gave similar accore"
modation to railway securities, on one occasion to
the extent of 29,000,000 f. (1,160,0001.), and the
average being 15,000,000 f. (600,000/0 for every
fortnight ; in fact, th 3 total of all such sums fur-
nished in 1856 was not less than 703,000,0001
(28,120,0001.) ; and when at last the restrictive
measures of the Banks of England and of France
led to a crisis in the Money-market, the Credit
Mobilier tended not a little to facilitate the tranai:'
tiou towards easier times.
When the moment of difficulty arrived (says 0,8
report) the Credit Mobilier not onlydid not diunni"l
the credits which it was accustomed to make to rail-
way enterprises, but even augmented thew;
nay, more, it offered officially two thongs
"Ist, to purchase with the co-operatioa.
of several foreian houses, the recite whitis
the Bank of France possessed, so as •le
furnish that establishment with the means of eiwv;
caciously augmenting its metallic reserve, and 01
continuing its advances on rents and railway shares;
and, 2d, to provide for the wants of all the railway
companies by subscribing to the extent 491.
300,000,000 f. (12,000,0001.) for the loans which
they had to issue in 1857,. the Credit Mobilier
its di' ectors declaring that they were ready to se'
gage themselves personally for that purpose for the
amount of 200,000,000 f. if the remainder of
100,000,000 f. was subscribed for the other banking_
houses. These two propositions remained without
result, and the Credit Mobilier being forced,-
to renounce every combined measure was obliged
to confine itself to providing for the "%val°
of the companies whose business it was in V'e
habit of transacing ; but it had formed a correct,
judgment of the situation, and the sole fact of it
having made the proposition alluded to contribute:
in no small degree- to calm down disquietude,' to
strengthen public feeling, .and to demonstrate that
unfounded terrors had been too easily given watt
to. The crisis, although conjured away, had no
less the effect of reducing in a very striking maneer
itself
the profits on which the company thought itBe,'
entitled to reckon in consequence of the sin3P„
amelioration of credit."
The report then touches on the several enterprise
°
which the company had aimed at carrying out ee
its own account, and states that of its railway Prl;
jects that of Grenoble to St. Rambert, toWar'
Lyons and Valence, had been sanctioned by 110%
rial decree in March, 1857. The Transatlantl
packets still remained undecided, but there vi!°,,
every reason to believe that the question would be
before long settled in a manner to satisfy all Os,
interests involved in it ; and the company bad A°3
t dolished a regular intercourse with the Ore'
Mobilier of Spain, and would take part in the Or;
struction of the Spanish railways. The report 111 e,,
speaks of the insufficiency of the capital of to_v
Bank of France for the vastly increased bushel,,
of the country, and then examines the question t'r
how ifs capital could best be doubled in orcy
.11.
to meet its enlarged sphere of action, and
Glares that when the proper time arrives it 11,10
give the preference to bonds of short date. I‘Pii
rrisort then touches on the financial situat'2o
of the company. Its movement of cash during t7i
yearhadhmounted to 3,085,195,1761 (123,407,8°1k'
its account-current with the Bank, 1,216,686,
(48,667,4511.) ; the company had received paYuti
on 1,455,264 railway shares and :lends prodne''''' d
160,976,590 f. (6,439,0641.) and had paid, either 4
for itself or f r other companies, on 4,986,30,
coupons of shares and bonds. The total of 1';
profits of the year was 15,249,981 f. (609,999 of
I')'which would give a dividend of 115 f. per share,
23 per cent. for the year 1846.
The meeting then gave its approval to the
fite;
port, and adopted' the dividend proposed.
proceedings then terminated.

The New Speaker has appointed the Hon. Ge°rgr
Waldegrave as his Secretary, the Ref,. Thomas Garn_d
as his Chaplain, Mr. G. K. Rickards as hi. Counsel Tir
~ Examiner of Election Reconisances, Mr. Robot 134r's
as his Trainbearer.—Mr. R. Beckerson, for many Yes;
the Inspector of Police attending the House of Cominollt;
has been promoted for his efficient services to be'S°Pteo
intendent of the L DiviSion, and Inspector Bray, °f "-
A Division, is appointed in his place.
The tran-ler bo,,ks at the Blnk wiil be closed to-cit
for the hall-yearly balance, and it is a holiday at
Stock-Exchange. sc-
Mr. Bright, ex-M.P., is at present at Turin. iot,
count of his peace principles he is not generally fop
in Sardinia. ntea
It is said that about 55,000/., sovereigns, are e%P.e-the

from the East during the next) fortnight through
Ottoman Bank and the Bank of Egypt. 0 are
" The .Emperor and Empress," says the Patrievsf,
expected to visit Compiegne on the 15th or 16th of %if
with the King of Bavaria. Their Majesties well, "-
said, remain there for a week.
Accounts from Venice state that the Count de Lielts,
borti, during his stay in that city, has been
visitors,
very retired life. He received fewer foreign to
particular French, than during his previous visits
Italy.
On Tuesday afternoon, Lord Loughborough vraroi
tertained at a public dinner at Cupar by a large "0d 7 for
gentlemen who 'supported him in his recent collet to
the county of Fife. About 500 gentlemen sat dui"
dinner. n•
A deputation respecting Smithfield market bad
terview with the Chancellor of the Exchequer YeStedr;p- v-
at his official residence in Downing street. The fir.
tation consisted of Mr. H. L. Taylor (chairmef" gr.
Deputyßoss,
th
ellgtty,
Arcbitec_ve
MRl.ern. DemobjrearnsceeyrP, thDeerittyy.
It is stated that up' to the present tune there 11-0:
to 36601.0.
been scarcely any English applications made
Baring for the shares of the Russian railway. 111 lor
tation nominally remains at 4to premium. Gst
sterdam, the market where Ru3sian securities are el
popular, they are extremely heavy at r Premium. wicic
Signor Seib, the sx-Triumvir of Rowe, visited Fisotight
and delivered a in•ture on "Italy as it is and as it
troo
ithoebfea,c"toorniebsiaonaddaoythiaesrt.buGildalyngfisagins
day, and Signor Seth was met by a procession, bed
by a band. British i'Vci
ARRIVAL FROM NEW YORK. —We learn by ,the
Irish Magnetic Telegraph, from Liverro), tua New
twheer e
town displayeddtlrint
At be
9 o'clock. The mails would be landed as soon as
steam-shipy or k
o tti City of
of f
p a,
w Manchester,aao
ffwith
pdates l a fsrto
rink
bpt
oait.
Bible.