6 JULY 1861, Page 9

Ems, JULY 5.—The Moniteur of to-day announces that the sub'

scription to the three hundred thousand bonds, repayable in thirty years, will be opened at the Bank of France on the 11th, and is to be closed on the 16th inst.

The bonds will be issued at 4401. each, bearing an annual interest of 20f and redeemable at 5001. T'he amount realized is to be applied to the construction of rail- ways.