Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1878-02-12
The Fleet Going to CORstan.
tinOple to Protect Brit
ish Interests,
As England Means to Have a Hand
in the Final Settlement.
Failure of Grain Firms in ireland.

ing Of the stock exchange this morning
the quotation OF %consols was s5t. The
news of the refusal by the porte Of a
irman for the passage of the straits by
the feet has caused a great sensation,
though the excitement is less than last
week.
The Times, in q leader. says that the
feet must 90 to Constantinople for the
protection of England's legitimate inter-
ests in hat city and straits. There need
be 20 disguise that this is the real pur.
psse with which our feet has been sent
to the Bosphorus, and Lord Derby would
have done we'll to have avowed this fact
plainly, instead Of evsding its RESPONSE
bility in the transparent excuse of af
fording protection to British subjects
and other persons in the event of great
excitement in the Turkish capital
1t is best to svow the simple truth that
as we intend to have a voice in the set
Element Of the future, both of CONSTANT
nople aud the Straits, we deem it prudent
and our plain right to assert some hope
upon these important positions, but Rus
STA, beyond question, has not the slight
est occasion for any further military
guarantee for her own claims than she
already possesses. The Turks and Con.
stantinople itself are at her mercy"
This mornings Post says: "a fatal
mistake has been succeeded by great hu.
initiation. Lord Derby's career as minis
ter ought to terminate, and the Dardan-
Giles ought to have been grsved as an
epithian Of his political tomb. 1t will
now become US to speak in extremely
moderate language until deeds shall
justify the resumption of tina. confident
tone 10 which the England Of Lord Pal
merston used to maintain in the cause of
law and order"
The admiralty have purchased two
iron.clads now in the London docks,
which we're built for Turkey, but pre-
vented from leaving BY the governments
neutrality declaration.
The four iron.clads comprising the
channel squadron we're directed by tele-
graph to proceed Immediately to Gibrsl.
tar for orders, on its becoming known
that Vice Admiral Horribly has teen re.
fused permission to enter the Darda-
nelleS.
Lord Lotus, British ambassador at St.
Petersburg. telegraphs Lord Derby as
follows, dated St. Petersburg, February
.: II have received from Prince Gorts.
chakof the following answer to your tel.
egram Of the 7th inst, asking Russia to
give some explanation about the advance
OF the Russians to ward Constantinople
etc; In answer to your excellency's
note respecting the occupation Of certain
strategicsl points in the n~eighborhoed of
Oo~nstsntinople by the Russian troops, in
consequence of the armistice, it is my
duty to inform you that we are not yet in
possession Of positive information as 20
the details Of the armistice; and as to it's
application I should add that the military
line Of demarcation, traced previously to
the armistice, has been agreed upon be.
tween the Russian aud Turkish authori.
ties, and it is a question which exclusive
ly concerns the belligerents.'
BELFAST, IRELAND, February r.
About ten grain firms have failed. Their
total liabilities are estimated at 81, 1000.
900.
ULSTER, February l2.-The Evening
Echo Qreland) says that the condition
OF a number Of firms 10 the grain trade
has been the subject of remark since
last week. 1t is no. secret that bills are
lying at the bank overdue, and the result
will be very serious to several firms.
Older and cautious merchants and mil.
lerS will be untouched or only slightly,
wolfe several who are touched will be
able to pull through. The result Of this
semi.panic will be to bring trade within
moderate and legitimate limits, which
have been over.stepped in several recent
transactions.