The Sun.
London, England, 1865-07-11 00:00:00

FRANCE.

BOURSE, July 10.—The flatness and inactivity
habitual to the commencement of the week have
again predominated in all the markets to-day.
Offers to sell have been the ruling feature of transac-
tions, and the result is a modification in the rates
of nearly all the principal Securities. Threes, for
the Account, have receded to 67f. 5c., and Mobilier
shares to 653 f. 75c. Italian Five per Cents. remain
without change at 64f. 75c. The market has im-
proved towards the close, and left off as follows :-
41 per Cents 96 Ditto Threes 66 75
Do. end month — New Mexican
3 per Cents. 67 20 Do. Bonds 313 75
Do. end month 67 15 Russian —
Credit Mobilier ... 662 50 Austrian

Do. end month 658 75 Spanish Threes ...
Bank Shares 3568 75 Home Debt

Credit Fonder 1240 I Deferred
Italian Loan 64 80 I Roman

Do. end month 64 75

RAILV

VATS.

Cash. Acct.
Orleans
Northern 1032 50 ... 1035
Lyons and Mediterranean B4O 840
Southern 555 552 50
Western 532 50 ~. 532 50
Eastern 516 25 ... 515
Sardinian , 260 ... 260
Austrian
Lombard 475 476 25
North of Spain l5l ... 150
Saragossa 307 50 ... 311 25
Ditto to Barcelona

The Last Nile Discovery,

--- -e---

TO TILE EDITOR OF TIIE SUN.

Sir,—Having during the last few days met with
many persons who have said that they are unable to
form a clear conception of the relations of the two
vast equatorial African lakes--the Victoria of Speke
and the Albert of Baker—to each other and to the
Nile, I venture to offer the following brief explana-
tion.

Let the inquirer consult the map contained in
Speke's book, and he will see at a glance how the
discovery of Baker has substantially confirmed the
views of his distinguished precursor.

Speke places the Luta Nzig6 (now the Albert) on
his map as a great sheet of water of which he had
heard, and into which the Nile, from the point where
he was obliged to quit it, descended by rapids, and
then reissued a little to the north to flow to Gondo-
koro. So strongly did he believe, from the descrip-
tion of the natives, that such would be found to be
the case that he incited his friend Baker to endea-
vour to ascertain the facts.
Now, in every essential point the researches of
Baker have confirmed the accuracy of the views of
Speke as regards the Luta Nzige ; for the Nile,
leaving its first gfeat and lofty reservoir, the Vic-
toria, at a height of 3,740 feet above the sea, is
found to descend 1,670 feet into the deep rock-
basin of the Luta Nzige, or Albert Nyanza, which
is placed by Baker at the elevation of 2,070 feet.
Thence the stream flows downwards and northwards
to Gondokoro, from which place to Khartum,
where it is joined by the Blue or Abyssinian Nile,
it becomes, as is now well known, a perfectly navi-
gable stream.
The representations of ancient geographers, as
seen on old maps, of two streams issuing from two
separate and unconnected lakes, these streams unit-
ing further north to form the Nile, is proved to be
erroneous ; since we now know that, whether in the
form of lake or river, the White Nile consists of one
continuous system, the waters of which descend in
the first instance from a higher into a lower lake,
land thence into the main stream, which in its course
to Gondokoro and Khartum is fed by many other
raffluents. In short, the water system by which
these lakes of the Nile are first connected and then
feed the main stream, is analogousto the connection
between the North American lakes and the issue of
their waters into the St. Lawrence.—l remain, Sir,
your obedient servant,

RODERICK I. MURCHISON.
16, Belgrave-square, July 10.

AN INFAMOUS DOCTRINE !—From Mr. John
Stuart Mill's work on " Liberty," p. 92 :—" I believe that
other ethics than any which can be evolve.' from
exclusively Christian sources must exist side by side with
Christian ethics to produce the moral regeneration of the
world."

THE PARLIAMENTARY RETURN of the INSURANCE
DUTY paid in 1864 has just been published, and is
the first return embodying the differential rates on stock
(Is. 6d. per cent.), and on Buildings and Furniture (3s. per
cent.), the reduction of the duty on stock having com-
menced at Midsummer, 1864. For the purpose of compar-
ing the business of each company with that of 1863, we
havo been obliged to make up an account for 1864, as
though the duty had remained unaltered. We thus get a
measure of the progress of each company, and the result is
as follows :

INCREASES.
Livorpool and London

andGlobe,and Leeds
and Yorkshire £

(amalgamated) —T..26,729
Royal _16,097
North British and
Mercantile ... 7,446
Queen... ... ... 7,014
London & Lancashire 6,485
Alliance and Hants,
Sussex and Dorset
(amalgamated) 5,648
Imperial ~, 3,919
Northern 2,617
Commercial Union ... 2,552
County ... 2,070
European and Mercan-
tile Union. (amalga-
mated) 2,062
Norwich Union ... 1,977
London ... 1,897
Scottish Provincial 1,530
Scottish Union ... 1,472
Law ... ... 1,390
Provincial ... 1,245
Caledonian 1,193
General ... ... 1,077
Scottish National ... 1,055
Law Union ... ... 1,047
Guardian ... ... 968
Hercules ... ... 935
Sun „. ... 930
Royal Exchange ... 849
Atlas ... 641
Yorkshire „, • „ 556

Manchester ... 549
Kent 474
Lancashire ... 384
Notts and Derby 246
Midland Counties ... 244
Prince 176
Essex and Suffolk 148
District ... ... 139
Salop ... ... 115
Emperor ... ... 112
Royal Farmers 106
Norwich Equitable ... 95
Church of England ... 81
Preserver ... . 61
Volunteer Service and
General 60
Town and County 57
Friend-in-Need ... 42
Netherlands ... 35
Westminster 20
Oldham ... 10