The Sun.
London, England, 1854-11-24 00:00:00

THE SUN, LONDON, FRIDAY EVENING, NOVEMBER 24, 1864.

dice with which such a suggestion will be
received, but we are convinced that it is un-
founded, and that such a measure, if judiciously
carried into operation, would be attended with
very beneficial results. Similar objections were
urged, and for a long time suffered to prevail,
against promotion from the ranks in the army,
and we believe that a peremptory exclusion still
exists in the Indian army; and yet it is now ad-
mitted that the regulation which gives a certain
number of commissions in the year to men who
entered as private soldiers has been attended with
the most felicitous results, and that it has, in no
trifling degree, added to the efficiency of the army.
We have no doubt that the occasional promotion
of a smart sailor, one who had received a suitable
education, and proved himself a thorough seaman
in every particular, would have an extraordinary
effect in inducing a superior class of men to enter
the navy, and conduct themselves in such a man-
ner as to deserve the rewards to which they as-
pire. We trust that these suggestions may be
taken into consideration, having no doubt that
judicious regulations on the subject would be sa-
tisfactory to the nation, and eminently conducive
to the good of the service.

MONEY MARKET

SHARE MARKETS
(THIS DAY.)

AND
COMMEBCIAL INTELLIGENCE.

BRITISH RA ILWAYS.

CITY, TV 0 o'CLOCK.
The sales of cotton at Liverpool yesterday
were estimated at 7,000 bales, including 500
American and 500 Surat taken for export. The Vi
market closed heavily, and prices had a down-
ward tendency ; light stapled quality was ls. 6d. 50.
lower. The sales comprised 4,500 American,
400 Egyptian, at 51d. to 10d. ; and 2,000 Surat, 31
at 3d. to 4d. per lb. Railway shares were firm.
27
In the Colonial Markets, this week, the dispo-
sition
to buy is still more governed by the imme- 22
diate consumption. Sugar has been held with 25
some firmness, but most of that offered publicly .4.
has had to bo withdrawn. Coffee has been at full -st"
rates, although not active. Cocoa has been rather le
dearer. Tea and rice have been dull, spices
steady, and saltpetre rather cheaper. For eochi- 5C
neal fuller prices have been paid. Jule and hemp ,5)(,.
have been rather more sought after. Iron has
been dull. In oils a large business has been done, 1(
but tallow has drooped. 5(
The accounts from India by the Overland Mail, 2!
taking the description given in the telegraphic ,
outline, are not very favourable in reference to the 'g
commercial markets, trade being dull. The rate
of exchange at Calcutta was ls. 11d. per rupee. S
The state of affairs in China seems still to be un-
favourable, and the siege of Canton was continued S
by the insurgents. Nevertheless, a little tea con- ;
tinned to be brought down.
Per telegragph we learn that the Australian 1
mails have arrived at Alexandria, but since there S
was no steamer to bring them forward, there will
be some delay ere they arrive. The dates from ;
Sydney are September 20, and Melbourne Sep- E
tember 25. The markets continued overstocked F.
and dull, but the yield of gold was maintained,
and the arrivals at Melbourne from the diggings
during the month of August were 120,000 ounces.
In United States Securities there has not been I
much doing within the last few days, and prices
have not varied to any great extent. Messrs. D. I
Bell, Son, and Co., give the prices as follows :
Redeemable. Per Cent. •
United States 6 per Cent. Bonds 1862...101 102
United States 6 per Cont. Bonds 1868...108i 109 i ,
United States 6 per Cont. Inscribed
Stock 1867-1868...105i 106
United States 6 per Cent. Inscribed
Stook 1862...101 102
Pennsylvania 5 per Cent ... 76
Pennsylvania 5 per Cent. Bonds 1877... 80 82
Massachusetts 5 per Cent. (Sterl. Bonds) 1868...100 102
South Carolina 6 per Cent. Bonds
(Baring's) 1858-1868... 90 92
Maryland 5 per Cent. (Sterling Bonds)... 93 94
Alabama 5 per Cent. (Sterl. Bonds) 1858-9.66_ 83
irginia 5 per Cent. (Sterling Bonds) ...1888... 90 92
Virginia 6 per Cent. Bonds
LOANS 01 CITIES.
Boston 4i per Cent. (Sterling Bonds) 99 101
Montreal 6 per Cent 1857-1865... 83
New Orleans 6 per Cent. Bonds 1893... 82
RAILROAD BONDS.
Illinois Central 6 per Cent. 1875... 63 65
Pennsylvania Central R. Rd. 6p. Cent 1880... 89 90
New York and Erio 7 per Cent. let Mort.
gage lB6B-1869...100 102
New York and Erie 7 per Cent. 3d Mort-
gage 1883... 77 78
New York and Erie 7p. Cent., Convertible 1862... 70
Northern Indiana 7 per Cent. Ist Mort-
gage (Gosehen Branch) 1868... 73 75
Terre Haute and Alton 7 per Cent. let
Mortgage 1867... 75
In the Stock market this morning, there has been
some fluctuation, although the intelligence does
not add much to our previous information. The
intention of the French Government to send troops
into the Danubian provinces is interpreted by
some as a demonstration against Austria, and this
certainly is not without its influence. It may be,
however, that the force is to act with Omer Pacha
against the Russians, although its moral effect
upon tho conduct of Austria must be great.
Consols were 91i, then dropped to 911, and are
since 911 2 for transfer. Fine bargains have been
transacted at 91k, then at 912- for transfer, and
now 91i 2- are the nearest prices. The continued
decline in the French funds operates upon values,
and increases the suspicion that a new loan is im-
pending. Bank Stock has receded to 210 and
209 k. Exchequer Bills have been firm at Is. to
7s. premium. India Bonds are 103. to lls. pre-
mium. The New 3 per Cents. have been 894 to
901.
There is again a depressed market for the Turkish
Scrip, which is now down to 61 and 6 per cent.
discount, and with limited dealing. Sardinian
Bonds are quoted 851 to 86, being steady. Dutch
2t per Cents. are flatter at 60k, and the 4 per
Cents. at 9). Russian 5 per Cents. are marked
05. Mexican Stock is 21. i to 2112. The Spanish
and South American Securities are inactive, and
their quotations nominal.
The following are the nominal prices of Foreign
Stocks :—Grenada. Deferred Bonds, 51 to 51 ; Mexi-
can, 211 to 214 ; Peruvian, 67 to 69 ; ditto,
3 per Cents., 47 to 49 ; Portuguese 4 per Cents.,
40 to 43 ; Russian 5 per Cents., 95 to 97 ; ditto,
4A- per Cents., 85 to 87 ; Spanish New Deferred,
to 18i ; ditto, 3 per Cents., 372 to 381; ditto,
Certificates, 51 to 51 ; ditto, Passive, 4i to 41.
Most of the English Railway Shares are depressed
owing to the decline in Consols, and there is a
general reduction iu prices of about 1 to 41 per
cent. The foreign lines are very quiet.
Mining Shares are neglected. South Australia
Bank Shares have risen bs., and the Land Shares
are nominally without alteration. There is an im-
provement of 1 per cent. in the Canada Company's
Stock.

LATEST NEWS.

BRITISH FUNDS THIS DAY.—CLOSING PRICES
( Prom the Ofr.al List.)

Business done
dank Stock ... 2lO 9i
Expire 3 per Cent. Reduced Annuities... .......... 99 891 901
3 por Cent. Consols Annuities .. ........... 9li 1 12i
L
New 3 per Cent. Annuities 9O 1 89i 1 90A
•..•....- 11 10
Ditto, under £lOOO 7
Consols for Account
Exchequer Bills, 21d.
ing ABnonnuidst,i 7, XlOOO
0p sth Jan., 1860
... 4 5-16 1 7-16
India
£IOOO
£5OO ......................................... 7 4 7
Small Cent;........................................ 74 7
Exchequer Bonds 1858, 3.A Per ......
Ditto 1359, ~
...... 99/
PRICE OF FOREIGN FUNDS THIS DAY.
Afexican 3 per Gnt.
Ditto for the Account 2li i
Russian Bonds, 1822, 5 per Cont. £ St 95
Sardinian Bonds, 5 per Cent... ...... ..„
Spanish Beads, 3 per Cent ••• ........ 382
Ditto New Deferred, 3 per Cent lB4 i
Turkish Scrip 6 per cent
Ditto for the Account
Dividends on the Shove payable .. London.
Dutch Exchange, 2i per Cent. 12 Gull , 601
Ditto 4 per Cent. Certifieates ......
THREE 0 CLOCK.

Console
........ . ........................... 92
Ditte, Acoannt
..

THE NAVAL ENGAGEMENT IN THE
PAcinc.

Everybody who remembers or has read of the last
great war knows its checkered course, its ever-alternating
triumphs and reverses. We shall never have a war
without them, and it would be fully to expect it. There
is no disguising the true character of the affair at Petro-
paulovaki, a place of which the great majority of our
readers have never heard befoFe, but which they may
henceforth remember as a fortified port in the far dis-
tant region of Karatschatka, where we and the French
made very little way. The affair explains itself. An
insufficient fleet attempted what we have not yea-
tured to do either in the Baltic •r the Black Sea
—viz., to cut out two Russian frigates from under
strong batteries. Failing this, the fleet appears to
have trusted some Americans, who are to a man
friendly to the Russians in that part of the world, so far
as regards the present contest, and seat a considerable
detachment ef its men into a position where they were
simply massacred by the Russians. It is very clear that
we have to learn not only the art of war, but a little ex-
perience, which is proverbially dear. Little confidence
must be placed in any supposed sympathy of race, of
religion, of constitution, or anything else, between us
and the Americans. They have nothing to fear from the
Russians, and a good deal to fear, or rather to be
jealous ef, with ourselves, as they believe. We may as
well therefore make up our minds to their following
their interest, as they think it, and letting sym-
pathies alone. Of course they have no particu-
lar pleasure in seeing our frigates roaming across
the Pacific, visiting the islands, tampering with the
chiefs, prowling about the coasts, sailing into harbours,
and otherwise making themselves at home. In this
affair it is evident that Admiral Price was hardly master
of his actions, probably not of his reason. Despairing of
success, he seems to have committed suicide before the
fatal attempt, and thus to have done his utmost to fulfil
his own forebodings. Such accidents will happen, and
this one, so wholly unsuspected, happening as it does in
such an outlying part of the world, only serves as a re-
minder how much this war will resemble the last, how
far its influence will spread, how great will be its
vicissitudes, and how great must be our exertions,—
Times.

TEE LORD RECTORSHIP OF THE GLASGOW UNIVERSITY.
It has been asserted that a protest was lodged against
the erection of the Duke of Argyll to this chair, on the
ground that ho was connected with another of our Scot-
tish universities. Wo are authorised to say that this
statement is altogether without foundation.—North. Bri-
tish Daily Mail.
VAN DIEMEN'S LAND COMPANY.—A. special general
meeting of the proprietors in this company was held at
the London Tavern, Bishopsgate-street, yesterday ; Mr.
John Cattley in the chair. The advertisement conven-
ing the meeting having been read, on the motion of Mr.
Ducros the report was ordered to be printed and circu-
lated among the propietors, and the proceedings termi-
nated,