The Sun.
London, England, 1845-11-19 00:00:00

FRE CH RAILROADS.

It became known on Thursday that a fusion had been
effected between the companies proposing to bid for the Stras-
burg line, represented by Messrs. Ganneron, Hinguerlot,
Gentil et F, I, Bechet, and two or three minor ones. The
three leading companies are to receive each one-fifth of the
capital, and the remaining two-fifths amongst them. Messrs.
de Rothschild are to be the bankers. One company alone,
known as Anthouard's Company, was not included in the ar-
rangement ; the required deposit of share lists, &c., was
made by that company before midnight on the 14th, ut it
was riot deemed certain on the Bourse that that company
would persist in its proposition to bid for the line.
After long and laborious discussions a fusion was effected
between the several competing companies for the Tours and
Nantes line, and who were no fewer than eight in number.
The fo3owing are the proportions in which the capital of
40 millions is to be subscribed by them ;
Francs.
Mackenzie's Company ... ... 8 millions.
Carette and Minguet 6 „
O'Neill ... ... 5 „

Drouillard (Nantois) ... 5
Raigecourt ... 5
Lefevre
Delamarre
Basse Loire ...

... ... ... ... 1~

Total ... ... 40 millions.
The Sii,cle observes, that " the coalition amongst the nu-
merous companies which were formed for the construction of
the Paris and Strasburg and Tours and Nantes Railroads
demonstrates the impossibility of competition when colossal
enterprises which require 100,000,000 and 200,000,000 of
capital are to he executed. We return by a perilous and
lengthened course to the system of a direct concession by
the State. Those who dreaded the application of the system
of adjudication had foreseen but a part of the evils which it
has produced. What have we seen in fact? The formation
of a multitude of societies, the object of the greater part of
which was to make the others pay by compelling them to
enter into a coalition ; the useless appeal made to the public
to repeat their subscriptions 10 and 20 times for the same
line, so as to cause a commercial crisis by the locking up the
ordinary means of circulation ; in fine, manoeuvres of every
nature, which have thrown discredit on the morality of the
country and on public credit, and all to conclude with having
but one company to bid before a Minister to whom the law
delegates the power of fixing the definitive terms of the
concession."
The Presse publishes a long article in defence of the coali-
tion of the companies formed to bid for the Paris and Stras-
burg and the Tours and Nantes Railroads. "In order to con-
struct railroads," says the Presse," there are three systems—
that of monopoly, when the Government retains the railroad
under its own management; 2, privilege, when the State
concedes the road directly; and, 3, competition, when the
State adjudicates publicly. Of these three systems the first
is undoubtedly the best, and the Government will not fail to
regret having inconsiderately abandoned it. It has been
asked, where the State would have found the twelve or
fifteen hundred millions necessary for the construction of
the French railroads? We answer by the emission in suc-
eession of railroad bonds bearing an interest of three francs
sixty-five centimes. We believe the Government would
have without difficulty found the requisite capital, particu-
larly if in place of presenting to the Chambers a real house-
keerr's account-book, under the title of a budget, the Go-
vernmennt had placed under the eyes of the nation a budget
such as it ought to be, presenting a real account of its receipts
and expen di t ure, of its resources and its debts—resources which
are every day increasing, and of which no notice is taken :
but both the Chambers and the Government were agreed
not to increase the number of public services, and to add a
new and immense force to all the forces at the disposal of
the State. There is one serious objection to the mode of adju-
dication by public bidding applied to the great railroad lines,
an objection without reply, and which alone would be suffi-
cient to enrol us amongst the adversaries of the system.
The objection is this:—The companies who have the least to
lose are those who can afford to risk the most. The more a
company is strongly constituted, and the batter guarantee it
presents, the less chance it will have of obtaining the adju-
dication. We must therefore applaud, and we trust that
what has taken place with respect to the Northern and tq
the Strasburg line will take pace for the Paris and Lyons
road, even at the cost to the State of a longer lease by some
years."
The National says, "That which we foretold this morning
has come to pass. The companies which had been formed
for the purpose of bidding for the railroad between Tours and
Nantes combined this morning. The following are said to be
the conditions of the contract :—The capital to be 40,000,000 f,
divided into 80,000 shares. The company of Mackenzie had
for its portion 12.521,7761. ; the company Carette and Min-
guet, 8,347,826 f. ; the company O'Neill, 6,376,812 f. • the com-
pany Drouillard, 6,376,812 f. ; the company Raigecourt,
7.376,812 f. Since the first fusion a fresh adhesion has taken
place; it is that of M. Jacques Lefevie and Co.; this new
party taking for itself a figure of 6,376,812 f „which will be im-
puted' upon the lot of the two companies Mackenzie and
Carette-Minguet. Thus it will be seen that there will be
no more competition for the Tours line than for those of the
North and Strasburgh. We are very sure that this new coalition
has not been accomplished without difficulties. Some persons
who transact business seriously, and who do not wish to do
it at all prices, resisted to the last moment; but in this in-
stance, as in everything else, the majority of the weak and
the intriguing carried the day. And it ought to be so, for
honest men, instead of meeting in the Administration an able
support, find but untractable ill-will.
" P.S. —lt is said that to-night a company, altogether left
out of the coalition for the Strasburgh line, will present itself at
the adjudication against the company of companies, Hinguer-
lot, Ganneron, Gentil-Fol, Rothschild, Bechet, and others.
This company will have for its patron M. Anthauard, a Peer
of France."

Mn. J. ENTMORE COOPER'S NEW WORK, entitled
"The Chain Bearer," is this day published by Mr. Bentley,
of New Burlington-street, and may now be bad of all book-
sellers, and at all the libraries; in 3 vols. post Bvo. Mr.
Bentley has also just published the following new works :-
1. Memoirs of the Jacobites, by Mrs. Thomson, 2 vols. Bvo.,
with portraits.-2. A World of Wonders, by Albany Poyntz,
1 vol. Bvo.-3. Honour and Shame, a novel, 3 vols.
DEVONPORT INDEPENDENT-OFFICE, MONDAY,
HALF-PAST Two r.m.—The Archduke Constantine of Rus-
sia, son of the Emperor, landed yesterday from a Russian
74, now lying in the Sound. He is a fine young man, appa-
rently about 19. He visited the Port-Admiral, Sir John
West. K.C.8., and afterwards Rear-Admiral Sir Samuel Pym,
K.C.8., in the Dockyard. His Highness was accompanied
by the Russian Admiral, and his Excellency Baron Brunnow,
the Russian Ambassador, with whom he lunched at Moors-
head's Royal Hotel this day. The Archduke puts up at the
Royal Hotel, Plymouth, and the Ambassador and suite at
the Royal Hotel, Devonport. His Highness visits the naval
and military departments to-morrow. He was received with
all the hono rs due to his rank on leaving the ship and on
landing.
A NOVEL. WINTER RESIDENCE.—A few days since
the servant at Ynyscreigog, a farm belonging to the Rev.
Lewis Davies, in the upper part of Cardiganshire, went to
the turnip field, and a hare suddenly started as if from under
his feet. Upon examination it turned out that puss had se-
lected a large turnip, and had carefully scooped out its in-
side, having taken possession of it for her winter residence.
—Welshman.
A DESPERATE LEAP.—About 12 o'clock last
night. a deserter from the 92d Regiment, named David Stra-
chan, a private, leaped over a window three stories high, in
Blackfiiars-wynd, to escape from a sergeant and party who
had been sent from the Castle to apprehend him. He
was severely bruised about the head, but was able to walk
to the Castle with the. assistance of his comrades.—Edin-
burgh paper.