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European News.

The House of Lords on the 6th delivered judgment in the Alabama case. Six legal Lords were present. The Lord Chancellor first gave his judgment.

He argued that under the provisions of an act known as the "Queen's Remembrancer Act, " there was no authority to make such rules as the Barons of Exchequer had made. He therefore moved that the appeal of the Crown be dismissed, with costs. Lords St. Leonards, Chelmsford, and Kingsdowne concurred, while Lords Cranworth and Wensleydale were in favor of the hearing of the appeal by the Exchequer Chamber. The appeal was therefore dismissed, with costs.

The London Times remarks that the final decision has been pronounced on a technicality, subtle and narrow beyond even the ordinary narrowness of law. For the present the victory remains with the defendants. But it is impossible to suppose that the Government will acquiesce in the law as laid down by the two Senior Judges of the Exchequer, or fail to bring any new offender to account, even if it should render necessary another struggle in the courts of law.

The London Times adds: If the Foreign Enlistment act be insufficient to repress enterprises endangering the peace of the country, surely it is better to apply to the Legislature than trust that, in some future case, a resort to a bill of exceptions will carry the main question to a tribunal, which may reverse the judgement already given.

The Scotshman understands that the case of the Pampero has been settled, the owners consenting to a verdict for the Crown and the nominal forfeiture of the vessel. They are, however, to retain possession of the vessel, trade with her, make alterations on her, but not sell her for two years, except with the consent of the Crown.

The Morning Post in its City article says the Confederate loan is about to be placed on a new basis. A combined French and English undertaking, in which the Confederate Government has an active interest, is in active formation, having for its object to organize a regular system of blockade running from the various Confederate ports for the export of cotton.

The capital is £500,000 sterling. Shares are to be allotted only to the holders of Confederate bonds. The company's steamers are to take out cargoes to supply the wants of the Confederate Government. It is estimated that the whole of the bonds of the Confederate loan may be exchanged for cotton and produce exported from Southern ports within twelve months.

The promoters of the company are said to be gentlemen of capital, and long versed in blockade running. The fastest steamers are to be employed. But in order to reduce the risk a very large cargo will not be intrusted to any one vessel.

The Times draws attention to petroleum as a substitute for coal, and recommends experiments in England as well as America.

The affairs of the Atlantic steam company (Galway line) were being wound up.

On the night of the 5th the Prussians before Dupped drove in the Danish outposts and took up a position 25 paces beyond the first parallel.

Three Austrian war vessels had left Lisbon for the Baltic.

The London Globe hopes one of the first acts of the Congress will be to compel the belligerents to desist.

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