JAPAN.

Westport Times, Volume II, Issue 245, 14 May 1868, Page 3

JAPAN.

The Melbourne Argus of April 21, has been favoured with the following extract from a letter received by a recent mail from a resident at Yokohama: —The Japanese have at length struck a blow aud about 500 lives have been the immediate sacrifice. The band of robbers who have lately been committing depredations in our neighborhood have been traced to Teddo, and discovered to have had a sort of headquarters there on Satsunaa's premises Satsuma is the leading Daimio opposed to the Tycoon, and, as last advised, stands by force between the Mikado and the Tycoon at Kioto. The result of the affair at Teddo upon matters at Kioto and Osaka is not yet known here, nor have we further news of the movements of the British Minister. Upon discovery of the robbers at Teddo, the Tycoon's officials demanded their surrender by messenger. The robbers cut the messenger's head off, set fire to the premises, forced their escape, some to the country and ethers to a steamer belonging to Satsuma, then at anchor in Teddo bay. The steamer was chased by two of the Tycoon's steamers but escaped. The naval fight and chase lasted about two hours, and was seen plainly from Tokohama. All armed Japanese not in the service of the Tycoon have been ordered to leave Tokohama, and it is understood that the Japanese Government fear that Satsuma's men are now in the settlement in disguise. If such should be the case, we have simply to guard against attempts to set the place on fire, and that no armed force is outside waiting the signal. Por the present we see no cause for alarm ; and though most foreigners feel secure,' wo omit no precaution against surprise.

The Atlantic Telegbafh.—The Pall Mall Gazette says ;—A project is understood to be in eourse of arrangement, on the part of the Atlantic Telegraph Company, for the purpose of paying off the holders of AngloAmerican shares, who have the first charge of twenty-five per cent, interest on their capital of £600,000. It would saem that under the new tariff, which; however, came into operation only five or six weeks ago, the company calculate that their net income, after payment of all expenses,

is now about £250,000 a year. After providing £150,000 for the American holders, this leaves £IOO, 000 a year to be divided between the Atlantic Eight per Cent. Preference shares and the original Atlantic stock —each £600,000 also in amount. The arrangement is, that after the former obtain their 8 per cent, the original shares shall receive the residue up to 4 per cent., and that the balance shall be divided, over and above that proportion, equally between them Thus £72,000 a year would be required to pay the 8 per cent, on the preference and the 4 per cent, on the original, and the balance of £28,000 would represent another 2 per cent, or more, npon either stock, and as the business of the company increases those figures ought to increase also. The most important question in the economics of the company, however, relates to the mode of paying off the Anglo American shareholders, who may now be then dealt with at double the nominal amount of their shares. It seems to be imagined that either by the Government help on the one hand, or by a system of insurances on the other, the amount may be obtained at about 8 per cent., all included. This on £1,200,000 would be £96,000 a year. In this way a further 4 per cent, for each of the remaining stocks would be obtained. The problem for the company, in order to get rid of a heavy mortgage, or first charge, and to come into fruition of their profits ; and with a novel security of this kind it will be curious to learn on what precise terms the problem is to be solved.