The Sun.
London, England, 1868-05-07 00:00:00

FRANCE.

PARIS, May 7.

The Epoque of to-day asserts that the guarantee-
ing Powers have simultaneously presented a note
to the Roumanian Government, demanding that an
indemnity should be paid to the Jews.
The same paper also states that an order has been
issued directing two frigates to proceed to Turin.
o'clock.—The market
BOURSE, May 6.—Three
closed as follows :

41 per Cent.
End of month — --
3 per Cent
End of mouth 69 4.2}
Credit Mobilier 240
End of month 240
Credit Foncier 1467 .50
End of month —
IteiLwA

Bank Sharos
Itid'an Loan —
End of month —
Mexican Loan
Do. Bonds
Spanish Throes
Home Debt —
Deferred
Ns.

Account
Orleans ... 865
Northern
Lyons and Mediterranean
Southern..... 577/
Western
Eastern .. V 7.7

Sardinian
Austrian 566
Lombard BB2e
North of Spain
Saragossa
Roman

HUDSON BAY TERRITORY.--The transfer of the
territories of the Hudson Bay Company to the Govern-
ment has been agreed to by the chairman, Lord Kimberley.
A measure to effect this will be introduced into Parliament
in the course of a few days.— The Owl.
The great organ for the New Alexandra Music
Hall, Muswell Hill, says the Observer, is the grandest ever
built. It is constructed by Mr. Henry Willis, the builder
of the celebrated organ in St. George's Hall, Liverpool.
It possesses five claviers, four for the hands and one for
the feet; there are 101 stops, 87 of which are sounding
stops. All the inventions of modern times have been
introduced to render this instrument perfect, and the re-
sult is the attainment of a volume of sound, articulation
of speech, imitative character, perfect quality of tone, and
precision of action in its mechanism, that has never pre-
viously been realised. The wind is supplied by two
steamengines placed in the basement, remote from the
organ itself. The instrument is governed by ingenious
contrivances for varying its powers and qualities of tone ;
amongst these are the pneumatic pistons far the hands,
each clavier possessing six. There is also a complete
system of combination pedals, acting precisely as those in
the grand organs recently erected in the Cathedral of
Notre Dame and the church of St.-Sulpice, at Paris. The
pedal organ contains four stops of 32 feet, three of which
are open. The front elevation is designed by the builder,
with architectural developments and details by the archi-
tects of the palace ; and some idea may be formed of its
gigantic dimensions when it is stated that the centre pipe
iu front is forty feet long and two feet in diameter, and
the metal is representative of 0000 (the only metal pipe
of that size near. London)."
All receive with satisfaction the announcement, that in
consequence of the Reduction in Duty liornintan's Pure
Tefn7 are roll Ed per pound Cheaper. 2,500 Authorised
Agents—Confectioners in London and Chemists in the.
Provisoes—supply gornimens's Tea ono alpickee.

CORRESPONDENCE FROM PARIS.

_ ~_.

(FROm 001 OWN CORRESPONDENT.)
PARIS, WEDNESDAY, May 6.

I think it may now be taken as certain that France has
no intention of disarming, and that, let the Emperor's
speech at Orleans be ever so pacific, he will not suffer any
reduction of the present bloated armaments. You will
remember the excitement which was caused three or four
weeks ago by the article in the Constitutionnel, which called
upon other nations to set the example if they really
wished a disarmament. This was considered a sort of
challenge of the gravest kind. It was taken up by
Bismarck with his usual astuteness. He ordered 12,000
Prussian troops to be sent on furlough, and at the same
time stated that he did so, not in consequence of any
representations from without, but simply from motives of
economy. While he thus avoided the dangerous
experiment of raising this subject to- the importance
of an international question, he at the same time
gave France an opportunity of sliming that her
desire for disarmament was real. lam afraid that
even the most sanguine of the optimists must have
very grave doubts on that point, or rather that there
is no r. one fir doubt at all. France does not mean
disa.rm. At first it was thought that the example
.4 Prussia wou!d be followed exactly to the same
extent, which, though insignificant, would at least have
heen corn ething. But to-day two semi-official papers have
dispelled this sFglit hope. The Monite .r de ('Arnie
bas discos-el-nil that France had anticipated Prussia by
granting furlough to a certain number of men, and cannot
therefore be expected to dismiss any more ; and the
Constitutionne/ comes out with another article, not so sen-
sational indeed as the first, but still sufficiently decisive,
declaring that the Liberte is unpatriotic in borrowing ar-
guments from the London Times, and telling the Libera
to aik its English contemporary how it is that England
does not reduce its army and its navy. The Constitutionnel,
of course ()wits to mention that there has been no increase
in your armaments for some years past, and that therefore
the argument dens not apply. The very irrelevancy of it,
and this excess:ve love of " the lore of nicely-calculated
less and more " are, I fear, only too convincing proofs that
we notit expect no improvement in the present situation,
and that to-day',4 rumour of a reduction of the loan by four
millions sterling is the wildest of inventions.
The Emperor and the Empress are to arrive at Orleans on
Sunday, and to distribute the prizes to the competitors at
the Agricn:tural Show. Everyone supposes that the Em-
peror will make a speech, but of courseno one can vouch for
the proceedings of so uncertain a personage as his Majesty.
A good deal of curiosity was felt as to whether the Bishop
of Orleans w- uhi consent to take part in the reception.
One of the newspapers mentions, with regard to the
luestion of peace or war, that Prince Napoleon, before he
went to Italy, had an interview with M. Emile 011ivier,
cad tchl him that he was afraid that "very active
influences about the Emperor would not permit his assu-
redly pacific ideas to triumph." This is what so many of
us fear.

There was to have been a grand dinner at the Tuileries
011 Monday, but it was suddenly countermanded almost at
fhe last minute. This matter caused some talk, and many
explanations are current. I believe that the true reason
was, that seven of the commissioners entrusted with the
task of drawing up a report on the Budget, and who aro
still holding out for a reduction, had been asked to the
dinner, and that after accepting it they came to the con.
elusion that it was better for them not to attend, inasmuch
as they might be exposed to influences which it would be
difficult to resist. They also declined for like reason the
dinner to which M. Magne, the Finance Minister, invited
them.

Although the relations between the Russian °curt and
rar own are by no means friendly just now, the departure
•,f Baron Budberg has called forth some very lively
sympathy for a sTnewhat hardly-used man. Besides the
dinner at the Trot Frhres, given by his brother diploma-
tists, which I mentioned yesterday, and at which, by the
way, the Princ-ss Metternich proposed the health of the
Baroness Budburg, the Emperor and the Empress have
shown their regard for a diplomatist who has now resided
here for many years. The Emperor has given the baron the
portraits of all the Imperial Family, with their auto-
graphs, and the Empress has given the baroness a medal-
lion, with a gold chain of beautiful workmanship.
The absence of General Dix, the American Am.
bassador, at the above-mentioned dinner has been
much commented upon. Are the lately fast friends, Russia
and the United States, sulking about the Alaska business?
Monsignor Chigi, the Papal Nuncio, also was absent, but
that is easily explained by the bad terms upon which the
Pope and the Czar have long been, in consequence of the
rigorous treatment of the Catholics in Poland by Alex-
ander.
There is many a slip betwixt the cup and the lip, and
so Prince Achille Murat must confess. His marriage with
the Princess of Mingrelia, which was to have taken place
some days ago, has been deferred. At first it was said,
that some nece,:sary certificates had been mislaid ; but this
excuse will no longer avail, and now it is said that the
Princess, who is a member of the Greek Church, insists
upon having her children brought up in that communion,
and that Prince Murat objects.
fewer than three democratic journals are about to
be 6tured in Lyons. No wonder that M. Maupas and
Count S4c-ur d'Aguesseau are alarmed at the new Press
Law.

No little excitement has been caused in financial
circles by the judgment just given in the great Cr6dit
Mobilier case. The directors of that concern, seven
in number, including the two Pereires and Michel
Chevalier, three years ago obtained the consent of
the subscribers to double their capital from 60 to 120
million francs (E 2,400,000 to £4,800,000) on the strength of
representations as to the satisfactory condition of the
company. They also lent, it is said,without guarantee and
without consulting the shareholders, SO million francs
(23,200,000) to the Association ImmobilP.Te. It now appears
that the Credit Company was in a state of hopeless insol-
vency, and that liquidation was imminent. Shortly after
the 120,000 new shares were issued they fell rapidly from
510•65 L, until at length they have become worth only
238'50f. This fall, no doubt, was partly due to the general
crash which took place in 1865, and perhaps still more to
the war in 1866. However that may be. certain sub-
scribers to the new shares brought an action against the
directors, on the ground of niiiiepresentation, and also
because, as they affirmed, the meetings at which the issue of
new shares was authorised were packed by the directors.
Judgment has now been given for the plaintiffs on both
issues, and the directors now find themselves liable for no
less a stun than £1,400,000, and, if the illegality of the loan
to the TimobilVcre Company should be established, to a,
of course, is simple ruin,
further stun of .0,200,000. This,
rich as the directors are ; and you will not, therefore, be
surprised at the talk which this affair has caused to-day on
the Bourse.

The Bourse and public companies are not the only places
at which people lose money. There have been some enor-
mous losses in the gambling rooms lately. One young
count lost no less than £20,000 iu a few evenings.
The Grand Prix of the Academy, £4OO in value, has
been given to M. Dareste for his " History of France."
The Prince Imperial makes his first communion to-
morrow, alone, in order that his devotions may not be
interrupted.
There has been a great fire at a cotton factory near Bel-
fart. The loss was £40,000. The Emperor has sent
£BO for the use of 400 workmen who have been thrown
out of employ.

A correspondent of the Post, writing from Adabaga, on
tne 13th April, three days after the defeat of Theodore,
has nothing better to tell than that he hopes soon to hear
of the release of the captives. His letter, however, con-
tains an interesting description of an interview he had
with the brother of Kassel, Prince of Tigre. Great
civility was shewn on either side, the correspondent de-
igliting in sheaving the wonderful things he carried—hunt-
ug-knife, sword, revolver. At length the watch was
aken out, whereupon the chief produced his own, begun
o wind it up, and got his visitor to do the same. Seeing
lest his wound up in the handle, the savage claimed it
,end gave his own—which does not appear to have been of
xst quality-in exchange ; whereupon there was some
mpleasantness, and not until other presents had been
,ffered to snake it up did the writer get his watch hack. By
he by, these presents consisted of a looking-glass, some
~eedles, and an indiarubber doll that squeaked.
It is said that all the diplomatic body at Berlin congra-
tulated Lord Loftus, our Minister, on the taking of Mag-
dala, except M. Benedetti, the French Minister.
The granting of furlough to 12,000 Prussian soldiers
turns out to be, as we expected, a clever diplomatic move
)11 the part of Bismarck. He knew well enough that the
dismissal to their homes of this small number of men
would make no real difference to the strength of the
army, especially as they could be recalled on the shortest
notice. At the same time the measure had a good
appearance : it presented Prussia to Europe in the light of
a peace-loving Power ; it was an answer to the diplomatic
representations made in favour of disarmament by the
French Government, and it was a test of the sincerity of
that Government. We now learn from the Illonitemr de
l'Arniet that France was not sincere, and does not mean
to disarm--for, says this journal, France had previously
given furlough to a larger number of men than 12,000.
Considerable importance is attached in Paris to the
recent Polish dinner in London. Prince Czartoryski,
whose speech was thought worthy of being telegraphed
Apecially to the Paris journals, had an interview with the
Ttnperor just before starting for this country. Prince
apoleon's sympathy with the Poles is well known, and
.4 not likely to be diminished by the coolness between
and tae Yuslian Ambassador in