The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-10-07
PRICE TWO CENTS


submitted, is as follows, presumng that she make
eight voyages out and home within the year:-2O
first class passengers at f2l, "a, 200; 400 secon
class at eli 5s. 800 at f7, E27 700 less dietary
t470O;) homeward, 900 passengers (less dietary
Eli 800, cargo 300 tons out and 1000 home, at e.
and los, $4,000; total, f3S 200. From this ther,
is to be deducted) GG;330 for agency, commission
loading and unloading, making the receipts pei
voyage, E3l $50; or for eight VOYAGES, G254 9G0
The estimated expenditure for the eight voyage,
would be tlOl, 800, leaving a balance of Gl53 200
from this there will remain to be deducted f40 00C
Tor insurance, $40 500 for wear and tear and depre
ciation at Els per cent; management Is 900; con
thgencies. Is, 200, leaving for dividend at Is per
In order to give effect to the arrangement, the
following options offered to the shareholders in
tne Ola company: either to exchange their shares
NJ the rate OF five shares in the new company fully
Pad up Tor two OF the present shares to exchange
at the rate OF ten shares in the new company with
5s paid for one old share, in which 15s nor share
would remain to be paid; to exchange at the rate
or nve shares In the new company with los paid
share. o ''''
1t will be seen that the terms thus offered contem-
plate giving the old shareholders precisely the pres
ent market price of their shares, and no more
The present price in the market is as near ms nos
sDe IL los per share; and therefore five new shares
two old shares
should the proprietors on the other hand, elect
not 10 rake any new shares atal the company state
they Will be entitled to their divisbe share of the
assets WhateV-f that may be- 1t is also stated that
tne new PROJECT, the originator of which is Mr.
Campbell one of the directors of the Eastern Steam
Navigation Company, has received the assent of the
majority of the large shareholders. including the
chairman, Mr. Hope, Sir Joseph Paxton, NJ. p. and
-, The whole of the new shares are to be offered to
the old holders, but should a sufficient number not
ue ~ taheh up; winch seems extremely probable, then
tney are to be offered to the public Proposals are
also 10 be received from ,he holders of ORIGINAL
shares for shares in the new company in eycass of
their old shares "
The EXPLOSION on BOARD THE HAMMoNtA.-Tbc
following occount of the accident to the Hammonia
is given by the Hamburg correspondent of the
London Daily News, the date of the letter being
Sept. Is:
The steamer left the Elbe on Thursday afternoon.
and mad not been many hours at sea, when from
some hitherto unexplained cause, an explosion took
place In the alter part of the ship and was found
that the powder magazine, containing the vessels
stock OF blue lights, signal rockets and powder for
salutIng, had blown up. This magazine being sit
uated under the chief saloon, the passengers of the
first class cabins were the principal sufferers as the
poop decks were forced up by the violence of the
explosion. The ship was Immediately turned round
to return to the Elbe whilst medical assistance was
speedily offered by the surgeon of the Hammonia,
and DR.. Neander, one of the cabin passengers
subJoin the list of wounded as given by the com
pany:-l Madame Andre, from Offenbach, residing
at Philadelphia, slight confusion of the right hip; q
Herr Barth, from Costa Rica, dslocation of the left
Knee cap; 3. Miss Fanny Bermann, from Furth n
slight wound on the left cheek; 4. Herr Friedrich
Muller, from Odenburg, lower part of the left thigh
bone broken, and fracture of right leg below the
knee.
Although the police authorities have made the
most searching investigation, and examined the
officers, passengers and crew, nothing has been
elected to throw the slightest tight on the cause of
the explosion, which is generally attributed to spon
taneous combustion
The powder magazine contained forty blank car
trldges for the saluting four-pounders five dozen
blue lights. and about an equal quantity of signal
rockets. Ihere was also some gunpowder in it be-
longing to the French government Some of the
slightly wounded proceeded to New York by the
Hammonia, but Muller, who was sitting in the
smoking saloon, Immediately over the powder mag
azine when the explosion took place, lies in the
general hospital OF this city in a most critical
state. DIR. knorre, the head surgeon of the estab-
lshment, Is going to amputatc both his legs to-day
and entertains but very feeble hopes of his sur
vlvng the operation. Madame Andre is also not
able to proceed to her destination by this steamer
and remains, for the present. at the Hotel de PEu-
rope under the surgical care of Dr. Knorre. No
damage was done to the screw or any other part of
the machinery of the lIammonia
THE ATLANTIC Observation-Disclosures we are
without London papers of Sept. 20, which, from re-
terenccs in the papers of the DIST we find contain
house, of the difficulties in relation to the Atlantic
telegraph cable. The London DaiIy Ne,rs. com
menting upon Mr.. Whitchousc's letter with some
severity in respect to his claim to the title of 'the
electrician protector" SAYS that it pretty plainly
indicates "that the Atlantic Telegraph Company
was got up upon most uncertain, if not false elect
rIcal data The strange thing, however, is that the
thing, so far as electrical communication is con-
cerned, has been an accomplished fact"
From consta"tnope Cor Of the London Times, Sept q ]
ECONOMICAL REFORMS IN TURKEY.-CoNSTANTGNo
PIE, Sept. live are still continuing in the right
direction, in spite of the certainty of the loan,
which evil prophets prognosticated as the limit of
the economical era, and in spite of the endeavors of
the defeated powers to entange the Sultan in the
net OF their fatal charms. Economy has uuite he
come the fashion, since it was decreed so by the i'm
perial flat, and since the example was enforced in
the highest sphere. Besides the general controller
OF the palace, controller has been appointed for the
household ofeach of the five sulans who are to check
all extravaganza for the future. The Economical
Council is still busy with its Herculean task of get
ting rid of useless jewels and trnkets and of olsen
tanging the intricate arithmetcal problem which
has grown up through long file of unpaid bills.
With such good example before them, the en-
ployees are likewise expected to cut down their
private expenditure, and contribute the balance
thus left to the necessities Of the State kind of
income tax Of not less than 10 per cent. is to be
levied on the salaries of all the high functonaries,
and a species of sumptuary regulations intro
duced to make up by economy for the reduced
salary.
Orientals are reputedly always moving in ex-
tremes, and the most logical thorough going
portion OF humanity. Thus, the centralizng; sys-
tenn, when 1T was introduced, swas carried
out as thoroughly any system
was. All money and power was accumulated
IN Stamboul, and in Stamboul again among those
who were in the highest places. Nowhere, there
fore, is there such absurd disproportion between
the pay Of the higher and lower functionaries, no
where is the great man more lavishly paid for doing
little or nothing, and the small employe more mis-
erably remunerated; and no where is the proper
tion in the number ofgreat and small men so i'm
mense.
An example will better illustrate this than any
thing else There are 200 Moodirs or chiefs OF
Districts in the whole empire who form as it were
the basis of the whole administrative organization,
and upon their policy and intelligence depends the
welfare of the great mass of the population. and
these men paid at the rate of from 300 to 600
piastres month, or from f2 to f7 sterling, which
is scarcely equivalent to what an able-boded work
man can gain in the capita and with this pittance
the Moodir is expected to keep up his rank as the
superior administrative authority of his district.
While thus the whole expenditure for this most i'm
portant class of employees amounts to about SOO0OO
to 900, 900 piastres month, there are half dozen
Mushirs, or Field Marshals who have no command,
and who draw 100000 pastres month between
them, and ten Councils of different denominations,
all equally useless, and every consisting of from
10 to 30 MEMBERS drawing between 10000 to 80, 900
piastres month.
(FrOm the TiennG Correspondence Of the London Times.
The REPORTED APOsTACY OF THE KING OF WUR-
TEMBURG.-Although the report that the King OF
Wurtemburg about to embrace the Roman
Catholic faith has long been in circulation, it did
not come to the knowledge of the person principal
ly concerned until few days ago. The tale as ori-
ginally told, was, that his majesty was going to
Italy, and would secede from the Protestant church
while there more recent version of it was that
ne had actually become a member of the Ro-
man Catholic Church, while staying at Schan-
genbad. Not only was the secession of the
King common topic of conversation for all classes
OF society but not long since an allusiOn made
to it in the Gambler by one of the deputies.-
At last the prevalent report reached the ears OF
the Princess Maria of Wurtemburg, (who is mar
ried to a Count Neipperg,) and she, as matter OF
course communicated to her father what she had
heard. The old monarch was much hurt to learn
that such absurd rumOr had obtained credit, and
he lost no time in Summoning to his presence the
six Superntendents of the Protestant Church in
Wurtemberg, the President of the Privv Council,
and the Chief of the Department for Ecclesiastical
Affairs.
On the arrival of the persons mentioned, the King
angrlly told them that he had been UNANIMOUSLY cal
umnated, and limited that he had reason to believe
the Protestant clergy of the country had greatly
contributed to the dissemination of the deamatOry
report which had been in circulation. His Majesty
Ssolemnly declared that he had not only not en-
braced the Roman Catholic faith, but that he had
never entertained any idea of doing so.
lhe King, who was much excited, told the pre-
iates that he was not old as not to know what
he was about, and dismissed them, after having
charged them to instruct their clergy to make
known from the pulpit that the report relative to
his intended secession from the Protestant Church
the Christen-bote (''Christion lIessenger') which
was published at StuttUard on the 10Th inst tbo