The Sun.
London, England, 1870-01-08 00:00:00

NEWS OF DR. LIVINGSTONE.

A letter is published from the Secretary of the Central
African Mission, which reads:—" I am sure your
readers will be glad to learn still later news of
the great traveller than has yet been published.
Bishop Tozer, writing from the Mission House,
Zanzibar, under dato October 25, 1869, says :—' I spoke a
few days since with an Arab trader, who informed me that
he had seen Dr. Livingstone four months before at Ujiji'
This brings us to July. Up to that time, therefore, he
had not been eaten by the cannibals to whom he alluded in
his last letter."

TRADE AND FINANCE.

FRIDAY EVENING,

The prospects of trade for the ensuing year are deci-
dedly favourable. Recent events have gone far towards
removing the many causes of depression in the money
market, and the somewhat unexpected termination of
more than one judicial enquiry, which had for long occu-
pied public attention, has been followed by a re-
action in public opinion, which is as ridiculous as the
recent feeling was out of place. So far as the
money market is concerned this can only be retarded with
satisfaction, and 1370 will, therefore, probably see a re-
turn of animation and activity in most departments of
trade. Many considerations tend in favour of this opinion.
The national savings of the past few years, owing to the
salutary curtailment of private expenditure that has
generally taken place, have been largo. Up to
this time these have been placed in Government
and guaranteed stocks, but it is not to be supposed that
this course will be long persevered in. The inducements
held out by many legitimate concerns will have the effect
of drawing the money into other channels, and so giving
healthy stimulus to trade. No doubt great caution will
continue to be exercised in the choice of investments for
some time to come; but the reticence will gradually
wear off until the old speculative mania again
becomes rampant. We may look, therefore, for
a respectable addition of bond fide companies- to our
stock list during the current year—an acquisition of great
direct and indirect value.

Trade generally, from various causes, bids fair to spew
a satisfactory increase in the ensuing year. The cheap
price of bread and the declining value of cotton will
enable the lower classes to purchase more freely of other
articles which must be regarded as comparative
luxuries, and which are all but inaccessible
in times of high prices. And if the young
wheats make satisfactory progress, there is every prospect
of low prices ruling for wheat for some time to come, a
cons!dera,tion of vast importance to iratle generally, what-
ever may be the result to the corn trade itself. In the
same way, the increase that has taken place in the supply of
cotton will afford employment to many mills that have
lung been standing idle, and will again restore the
Zl.nalleater diatrictia -bo notivity. Wa notice n oon-
tinned inclination on the part of Anierican authorities
to increase the estimates of the probable out-turn of the
year's crop, and we still incline to the belief, already ex-
pressed in those columns, that it will not full far short of
3.030,030 bales. At the same time, India has grown the
largest crop ever produced in that country, and the position
of the cotton trade during 1370 promises to be more satis-
factory than for many years past. Writing, li,wever,
with a full knowledge of the rabid resuscitation of the
Southern States, and of the resources of that ccuntry, we
hold that a long time must elapse before cotton can again
be sold in Liverpool at GI per lb.

No doubt the money market will be favourably influ-
enced by these considerations, but there appears to be but
little room for any considerable advance in the value
of money. The sa; Pegs of the past few years will
find their way into the market as soon as
an employment appears for them,while the great addition
made to our foreign loans of late years will cause a heavy
influx of capital in payment for dividends. And it is
impossible for any great rise to take place in the discount
quotations so long as so large an accumulation of
bullion exists—particularly in the Bank of France.
In the immediate future great care must follow
the purchase of the telegraph system by the Government,
the payment on account of which will find its way into
Lombard-street. This, however, will be counterbalanced
by the introduction of a new Russian "railway" loan
which we are promised about the same time and which
will, we understand, be for X 12,030,00). Nevertheless the
amount of capital available is so large that there appears
good reason to believe that some time will be occupied in
absorbing it, and until that is done any important upward
movement is out of the qv. e ;Eon.

RATES OF FREIGHT AND CHARTER.
(From the Shipping and ifercantile Gazette)
The tonnage loading on the berth for India, China, and
the Cape of Good Hope, amounts to 57,956 tons, and for
Australia and New Zealand to 34,985 tons.
The Freight Market, although exhibiting a somewhat
better tone, yet lacks positive symptoms of any nearapproach
of a return to activity. For the berth tonnage is in fair
request for most of the Eastern ports, and vessels seem to
be getting rather better despatch. For Singapore 2s. Gd.
per ton coals is offered, for Point de Calle 255. Gd. and &s.
would be paid for a cargo to Bussorah. Homeward em-
ployment continuos scarce, and even where tonnage is
inquired for, it is at rates which offer little inducementto
owners to fiy. There are one or two rice orders for lata
loading, at 103. reduction in the rates current for the
season.
For the West Ccast of South America tonnage is wanted
for coal ; 21s. to 225. is the quotation for Callao, and some
shipping has been taken up for Iquique at about 22s Gd per
ton from the Tyne. From the Guano Islands the demand
is easy, and in nitrate there is but little doing.
For Monte Video (say 26t.) 265. is obtainable for coat
from Wales, and for some of the Brazilian ports, vessels can
be placed at advanced rates. From Bahia there is but
limited inquiry, and, owing to the lateness of the season,
none bat forward ships are entel tai.ned.
Homeward business from the West Indies continues
slack, almost all the orders for early loading being pro-
vided for. The rates for coal charters outwards show no
alteration worth noticing.
Chartering for iron to the United States is almost at a
standstill, with no immediate prospect of improvement.
For Constantinople and Odessa tonnage is inquired after
at £l7 10s. and 118 103. per keel coal respectively, and for
Alexandria £2O to £2O 103. as the quotation. Tho rates
for the Italian ports remain firm, business in that direc-
tion being rather brisk. The homoward trace from the
Black Sea wears anything but a promising appearance.

The Rev. T. Talbot, Wesleyan minister in tho Isle
of Man, has joined the Church of England, and roceived
deacon's orders.

The _NiMet says that the funds for the Faraday
Memorial have reached £1,1,000. There ii now some
prospect of the speedy ercAion of a statue of the philc-
sopher which shall be worthy a'.; once of hilmelf and his
country.

The Weekly Rogister stigmatises as wholly with-
out foundation the statement that the Marquis do Banno-
vile, the French Ambassador at Rome, had an interview
with Cardinal Anton elli, to announce
officially that the
French Government is negotiating with tho Cabinet of
Florence for the termination of the French occupation.
REDUCTIONS AT CIIATJIAM.—It is understood
that a return has been ordered by the Lords of the Admi-
ralty of all the labourers employed in Chatham Dockyard
who are in possession of pensions f.,r military or nay.:l
service. What is the intention cf obtaining such infor-
mation may be surmised—the selection of such men in
any reduction of hands. An uneasy feeling has been
created by the expectation that a very largo reduction w:11
take place.