The Sun.
London, England, 1850-04-20 00:00:00

probable. The sum available tbr dividend during the
half-year ending the 80th cf June last, after pro-
Tiding fully for the interest of loans and the refer-
ence charges, wcs 174,710/. Of tLin 156,6901. was
distributed, being at the rate of 4 per cent. per
annum, on 7,834,5001., the total capital called
up, and the sum cf 18,0201. was placed as a
reserve for the next accoui,t, of which 6,215/. had
been brought forward from the preceding half-
year, leaving the net profits undivided of that half-
y ear 11,8051. In the last half-year the sum available
for dividend, after providing in like manner for inte-
rest and preference charges, was 196,3931., from
which the sum of 156,690/. being deducted for divi-
dend, at the same rate of 4 per cent. per annum on
the entire capital called, left a reserve of 39,7031., of
which 18,0201. had been brought down from
the preceding amount, 21,0831., being the surplus of
undivided net profits realised during that period.
Surely these simple and incontrovertible facts are
sufficient to show the folly and absurdity of sacri-
ficing such secure and valuable property for 51 or 52
per share.

The case of the North-Western is scarcely less re-
markable. A dividend of 7 per cent. was declared
on that stock for the half-year ending the 30th of
June, 18-19. For the last half-year a dividend of
per cent. was recommended by the directors,
which would have left an available reserve of 43,637/.
4s. 2d. The shareholders, however, influenced by an ex-
traordinary degree of cauticn, resolved, at the half-

yearly general meeting held in February, to accept only
5 per cent., by reason whereof the reserve bas been
augmented to 79,879/. 8 which now remains to the
credit of the company, and yet the shares in this ad-
mirable concern, which are 'just as safe as the divi-
dends on Government stock, were on Tuesday last
at a discount, and were yesterday only 21 premium.
We cannot conclude without expressing our
unqualified approbation of the resolution
adopted, even at the eleventh hour, by the
committee, in permitting purchasers, to insist on the
actual delivery of the sham for which they have con-
tracted on the account day. This beneficial change
will completely take the ground from under the
" Bears," and deprive them of the formidable weapon
they have heretofore wielded with such terrific force.
Every circumstance, therefore, affords the most
cheering and auspicious auguries of a great and
marked amelioration. We bid the shareholders, then,
to be of good courage, to have confidence in themselves
and in the value of their property, and not to be in-
duced to sacrifice it at inadequate prices in conse-
quence of the sinister rumours raised by deeply-inte-
rested parties, bat which are based upon no just
foundation.

THE FRENCH REPUBLIC.

We have received the Paris journals of yesterday.
There was a violent discussion at the Union Elec-
torate on Thursday between M. TIIIERS and Count
MOLE, the former supporting the candidature of M.
FOY for Paris, the latter that of M. LECLERC. M
TRIERS was supported by M. PISCATORT, but he was,
however, defeated, and at the conclusion of the
meeting it was announced that M. FERDINAND Foy
had resigned, and that M. LECLERC alone would be
the candidate of the Union. This choice of M. LE-
CLERC, a Paris shopkeeper, as a candidate, by the
Aristocracy and Reyalisty, proves that they are con-
vinced that they stand no chance of destroying the
Republic by violence or by a coup et itat; and this
fact, moreover, becomes still more apparent when we
find they have started as one of their candidates
for the &ape and Loire M. Bienauey, who was
considered in the Constituent Assembly to
approach much nearer to M. LEDRU Routasi
than to M. ARMAND MARRAST. There can be no
objection to the Royalists supporting the can-
didature of such known and avowed Republicans as
MM. LECLERC and I.3lnLauer ; nevertheless it is such
an open avowal of utter- impotence as cannot but
damage them most materially as a party.
M. EUGENE SUE has, in accepting the candidature,
issued an address to the Socialist Democratics. The
Siecle finds fault with the title, and refuses to support
his candidature, because it is one exclusively Socialist.
This defection of the. Siecle wi.l materially diminish
his chances of success, and it is said that he has been
strongly advised to resign in favour of the venerable
DUPONT (de L'Eare).
The deteat of M. FERDINAND For, who was the
brother-in law of M. FISCATORY, is considered by all
as "a heavy blow and a great discouragement" in-
flicted on the Orleanist faction.
M. PROUDUON publishes in th 3 Poix du Peuple an
address to the Bourgeoisie, in which he stigmatises
the candidature of M. LECLERC as a challenge to civil
war, and, alluding to the late horrible catastrophe at
Angers, insinuates that it was not a mere accidental
occurrence. lie says—
" Will you vote for civil war or for concord? Civil
war! Who then will sake it for you? Where could
you find an army? The army! It is Socialist, every
man of it. The arms It has received its democratic
t aptism in the wet •rs of t! e Marne—a battalion of this
young and brave army has Leen swillovi el up because
it had been ordered to Africa, and because
upon its march to Africa it had to make a round,
and that for the sake of preventing it from receiv-
ing the fraternal salutations cf the Republicans of
Angers."
4. The Catholic Church has its legend of the ft,riy
martyrs; they were forty Christian soldiers whom the
Imperial reaction caused to perish by exposing them
naked for a night on a froz,n lake. Socialism will have
its legend, rot of forty, but of 400 martyrs, for in all
things there is progress. Yes, 400 soldiers that the
Royalist reaction desired to punish by a disciplireay
campaign for their devotion to the Republic, and who
have been overwhelmed while marching in serried co-
lumn upon the fragile bridge of the Maine. Have you
not had blood enough?—enough of corpses? Do you
want another supplement to the hecatombs of June?"
The fact that the 11th Light Infantry, who were the
victims of this dreadful event, had voted almost to a
man at the recent elections for the Democratic can-
didates, that they had opposed the departure of their
sergeants ordered to Algiers as a punishment for so
voting, and that they were themselves under orders
for Africa on account of their political opinions, has
given rise to the most horrible suspicions. The
official Moniteur du &ie publishes a letter from
Angers dated the 17th, addressed to a colonel in
Paris, which, after some details of the disaster, al-
ready given, says—
can you believe, Colonel, that some scoundrel, in
presence of the dead and of the ruins, accused the at Laos
of having occasioned the breaking of the bridge? It
there be a Socialist of good faith, who, on hearing such
words, does not abandon his errors, he is a scoundrel,
like all his fellows, and they will all he chastised by
Providence as they deser►e. I went yesterday to con-
vey assistance to the scene of the disaster. All who had
hearts wept at seeing so many victims. But there are
men without pity, who, when they should love and ad-
mire, have only hatred and atrocity in their breasts. Our
clergy was admirable. Some soldiers edified every-
body. On being restored to consciousness, they, though
wounded arid exhausted, hastened to the church to
thank Ged for having been saved. When we see such
things we may exclaim, 6We are not lost!'"
Under these circumstances the PRESIDENT of the
Republic has shown great wisdom in proceeding at
once to Angers, and there can be but little doubt that
he has ere this instituted the most searching inquiries,
in order to ascertain the cause of this most melan-
choly catastrophe. The loss of life is even still greater
than had been at first reported. On calling over the
roll 219 men were missing, independently of 33 dead in
the hospital, and 30 wounded. The total loss of the
battalion is set down at 282 men. 123 bodies have
been taken out of the water ; among them there are
a maid-servant and two children. There were five
officers drowned. The regiment was marched o‘er
the bridge in order to avoid the Faubourgs, which are
the head-quarters of Socialism, and where the inhabi-
tants were preparing to fete the soldiers as they passed.
There was an emeute at Saumur on Tuesday, at a
review of the troops of General CASTELLANE. The
Patrie gives the following account cf the occur-
rence :

" Yeatereay, at the moment when General de Cast( 1-
lane, after having reviewed the National Guard, the
cavalry school, and a la talion of the 11th Light Infan-
try which aas passing through Saumur, on the Place du
Chardonnet in that town, was addressing the troops, his
voice was several times drowned
.by the noise of a
handful t f riotcus men. Tl.ey were in vain requested to
be silent by the police officers. Recourse was obliged to
be had to the legal summons, and the mob was quickly
dispersed by a vig, rous charge of the men of the 11th
regiment,
supported by a squadron of cavalry of the Mi-
litary School. In this affair the 11th, against which so
many calumnitus imputations had be n raised, gave a
striking contradiction to its detractors, and a proof Lf its
fidelity to discipline, and of its devotedness to the cause
of order. Several of the rioters stare arrested, and
many of them were wounded by the atones thrown at
the soldiers. Oder has been completely restored in the
tow n."

N. CARLIEB, the Prefect of Police, has declared war
against the mendicants of Paris, who have hitherto
been permitted to assemble at the gates of the various
barracks, to receive bre ken victuals given to them by
the soldiers. lie has caused within the last week 252
of them to be arrested.

The felluwing chauges have been made in military
commands :—G--neral GEMEAU, commander of the

division of Lyons, has been appointed to the command
of the French troops in Rome, in place of General
BARAGUAY D'HILLIERF, who returns to Purls, the
chief object of his mission having been accomplished.
General CASTELLANE succeeds General GEMEAU at

Lyons, and General D'ARBOUVILLE takes the com-
mand of the division at Bordeaux.