The Sun.
London, England, 1870-09-29 00:00:00

NAVAL AND MILITARY.

We understand that the War Office have made arrange-
ments with the various railway companies for the
conveyance of the entire British army at home to any
i
part of the country in a few hours n the event of
war requiring their concentration at any given point.
Considering that the total strength of the forces
in the United Kingdom, when the 7,000 troops
withdrawn from the colonies shall have arrived,
will not exceed 79,000, and that a single
railway transports some 25,000 volunteers to . the
South Coast before breakfast on Easter Monday
mornings without interruption to the ordinary traffic,
we have no doubt whichever railway might be
called into requisition would be able to perform the feat
without any such demand upon the rolling stock of other
companies as to necessitate any suspension of ordinary
traffic upon the lines. But what if the übiquitous Uhlans
should present themselves, and make a chasm at the
mouth of one or other of the railway tunnels which skirt
the coast in a direction most tempting to the invader ?
Globe.
Admiral Elliott has written a long letter to the Times
with respect to the loss of the Captain, especially with
reference to the address of Mr. Reed, at the meeting of
the British Association. He remarks that :—" Captain
Coles's models, which still exist, and which were exhibited
at the Admiralty and elsewhere, are living evidences that
a high freeboard was his first intention for sea-going
ships, and that until the increasing thickness of armour-
plating 'and weight of guns necessitated a lowering of
the freeboard, the feud which existed was simply one of
Broadside versus Turrets." He maintains that in every
ship which Mr. Reed has hirherto built there are faults
which arise from a want of practical seamanship, and
thinks that the prospects of the nation as to
the efficiency of the navy of the future are
not improved, unless Mr. Childers will consent
to submit the whole question for the consideration and re-
port of a competent committee of inquiry or to a royal
commission. He adds :—The questions of classification
of our fleet and of the proportionate combination of sail
and steam, and of the adoption of the hydraulic pro-
peller should be carefully considered and reported
upon, because the efficiency of the fleet for service
depends entirely upon a judicious fundamental under-
standing upon these points and the motley character
of our fleet, and the very serious imperfections which that
fleet represents, make it evident that such an inquiry is a
matter of urgent necessity in order to restore the confi-
dence of our navy in the appliances of war which they are
responsible before the country to turn to good account
when called upon to defend our shores and maintain the
honour of our flag.
Though there are now nearly 4,000 people employed in
Chatham Dockyard, there is more than enough work cut
out for them to execute before the present financial year
terminates. It is expected that the Sultan, iron armour-
plated ship, now in the stream opposite the dockyard, will
shortly leave Chatham for Portsmouth, to be completed,
there being more work to be done on her than was
at first contemplated. To advance this ship sufficiently
to make the voyage round, a large force of men is now
busily at work on her, and about 600 hands work over-
time till nine o'clock at night. At Portsmouth, it is
understood, there are more workmen available than at
Chatham to complete this vessel, or, at any rate, the
force at Chatham is needed to execute other work.
Four iron, vessels are being built at Chatham—the
Glatton, armour-clad turret-ship, which the estimates
said was to be completed this year, but it is con-
sidered that a considerably longer time will be occupied
in her completion ; the Rupert, ironclad ram, which
is to be advanced one-half this year ; and the Scourge
and the Snake, gunboats, to be launched and completed
for sea by the end of the year. In addition to these the
Woodlark, wooden vessel, is to be launched and completed
for sea and the Raleigh, iron frigate, sheathed with
wood, which has been commenced, is to be advanced about
one-fourth.
The 2nd battalion 14th Foot will shortly leave Col-
chester for Sheffield, instead of Newcastle-upon-Tyne,
Sunderland, and Tynemouth, as previously arranged.
The 4th battalion 60th Rifles, now stationed at Alder-
shott, are to relieve the 2d battalion 14th at Colchester.
Recruiting sergeants are not doing a very thriving
business. Out of the 20,000 men authorised to be raised
by Parliament, less than 9,000 have, it is said, been ob-
tained. Candidates desire to know to what branch of the
service they would be attached, and hesitate to join under
a system by which they may be drafted to a regiment of
which they do not approve.
The headquarters and eight companies of the 4th
battalion 60th Rifles proceeded from Aldershot on Tues-
day to Colchester. The 2nd battalion 22nd Regiment,
and the depots of the 107th Regiment, arrived at Alder-
shot from Sheffield.
The Council of the Royal Naval School at New-cross
have unanimously resolved to admit five of the orphan
sons left by officers in the Captain, without submitting
them to the delays and chances of an election by sub-
scribers.

SPORTING INTELLIGENCE.

NEWMARUT RACES.--YESTERDAY.

FIFTY POUNDS.

Sister to Ravioli
Gaston...
Margravine

F

Three ran.
TRIENNIAL PRODUCE STAKES.

Fragrance
Kingcraft
Tamarind

Four ran.
MATCHES.

.... i.

... 1
. 8

Mac Alpine beattEllesmere.
Elamen beat Parva.
The Match with Lady Macbeth and Andorra is off.
SWEEPSTAKES OF 10 SOVS.

Oxhorn
Imperatrice g.... .......... •
Flying Duchess c
• Ten ran.
SWEEPSTAKES OF -20 SOVS.

Filibustier
Queen of the Valley ......
The Orphan

Three ran.
SWEEPSTAKES OF 15 SOVS
Queen of the May
Parthenope
Deva Daro

~...

:Seven ran.
GRANBY STAKES.

The stock markets opened with comparative firmness
to-day, but the publication of an article in the Journal de
St. Petersbourg, which is generally construed as spewing
some hostility to Prussia on the part of Russia, caused a
flat tone to prevail, and a decided reaction to take place
in prices. Quotations for foreign bonds are generally
lower, more particularly as ir is believed that Prussia
will not abate any portion of her demands with
respect to the territory conquered. Consols shew
decline of per cent., the last price being 91f to 92, both
for money and account. Reduce4l and. New Three per
Cents. left off at 90} to 90i ; India Five per Cents.,
110 to 110}; India Bonds, 15s. to 20s. prem.; Exchequer-

bills, ss. to 9s. prem. -
Colonial Government Securities have been in little
request, but the quotations have been well maintained.
This being " making-up day," the actual transactions
in the subordinate departments of the Stock Exchange
have not been numerous, and have generally been made
in connection with the ensuing account. Railways have
ruled dull and drooping, the increase in the traffic receipts
not having equalled the expectations formed of them. Lon-
don and North Western receipts shew an increase of £9,752
North Eastern of £10,866, and Midland of £5,380. Me
tropolitan closed at 65, 651; Caledonian, 741, 75 ; London
and Brighton, 401, 41; Great Eastern, 37k, ; Mid-
land, 1261, 127; Great Western, 701, 70k; North
Eastern, 145, 1451.
Lombardo-Venetian shares closed rather better at 14,
14k. Erie " protected " at 171, 18, and Illinois Central
at 1081, 1091.
Foreign Government Bonds closed with extreme flat-
nsss, and most of the speculative stocks have tended down-
wards. Turkish have been especially depressed, the
closing quotations shewing a decline of fully 1 per cent.
Spanish and Italian are lower. The last price of
Italians was 53t to 531; Turkish Five per Cents., 414t0
42/4. ; ditto, Six per Cents., 1865, 52 to 53 ; Spanish,
1867, 271 to 271; ditto 1869, 27 to 27.1 ; Egyytian, 1868,

76 to 764 ; Mexican. 14g to 14k.
United States Five-Twenty Bonds are dull at 904 to
904 for the 1862 issue.
The Bullion operations at the Bank of England to-day
comprised the receipt of £220,000 in bar gold, and
20,000 sovereigns from Belgium, while £6,000 was with-
drawn for transmission to Alexendria.'

There is a plentiful supply of money in the open mar-
ket, and the discount rates rule very easy. To-day good
short paper has been readily taken at 2i to 21 per cent.,
and there is an evident disposition to accept long-dated
bills on low terTns. The amount of commercial paper
afloat is not apparently on the increase.
At the meeting of the Mauritius Land, Credit, and
Agency Company, Limited, the report of the Directors
was adopted. £2,000 was carried to the reserve ; £467
6s. sd. was written off, being the amount of Debenture
charge since the opening of the current year, and the
dividend 2s. (viz 5 per cent. for the half-year) was agreed
to. There is a balance of £174 2s. Bd. to be carried

forward.
At the half-yearly meeting of the Forth and Clyde
Railway Company, held at Stirling yesterday, the Duke
of Montrose in the chair, the report of the directors for
the half-year ending 31st of July last, was adopted, and a
dividend of 4i per cent. on the first preference .stock
and deferred dividend warrants (both under deduction of
income tax) was declared as against 2i per cent. last year,
payable on the 28th of October next. The sum of £67
14s. 10d. was written off the suspense account far removing
the permanent way, and £6 19s. 4Ad. carried to next
account. The sum of £1,925 received from the Postmaster-
General for the Telegraph, £1,200 being the sum paid for it,
was carried to the capital account, and £620 to the sus-
pense account, clearing it off, and leaving £lO5 for com-
mission and other chargeS.
The following figures from the New York Shipping List,
shew the total exports of cereals from the whole of the
United States during the season ending August 31:—To
Great Britain.-1869-70, flour, 984,881 brls.; wheat,
25,206,460 bushels ; Indian corn, 14,818 bushels ; 1868-9,
flour, 775,046 brls.; wheat, 18,445,755 bushels ; Indian
corn, 3,249,27 L To the Continent.-1869-70, flour,
116,370 brls.; wheat, 2,420,987 bushels ; Indian corn,
98,875 bushels'; 1868-9, flour, 49,625 brls.; wheat, 516,267
Indian corn, 96,156 bushels.
The traffic return of the North-Eastern Railway for
the week ending September 24th phewe an increase on
the corresponding week of last yej of £10,860. The
Midland has an increase of £5,380.
At the meeting of the creditors of Messrs. Gilbert,
Kerr, and Co., merchants, of Abchurch-lane, the
liabilities were stated at £63,369 and the assets at £36,928.
The estate will be wound up under arrangement.
The report of the directors of the Agra Bank (Limited)
states that the profits for the half year ended June are
sufficient to provide for a dividend at the rate of 4l per
ent. per annum. Owing to the continuance of the war,
on the continent, and to the consequent fall in prices, it
s deemed prudent to confine the distribution to an interim
dividend, at the rate of 3 per cent.
The Directors of the Credit Fonder of Mauritius
(Limited) have declared an interim dividend for the half-
year ended June 30, of Bs. per share, or at the rate of 8
per cent. per annum, free of income-tax, payable on the
30th inst.
The report of the directors of the Great North of Scot-
land Railway states that the receipts for the half-year
ended July 31 amounted to £95,214, and the expenditure
to £47,952, leaving a balance of £47,262. There is a
balance, after providing for the dividends on the
guaranteed stocks, sufficient for a dividend at
the rate of £2 10s. per cent. per annum on
the 5 per cent. preference stock ; and of £2 ss.
per cent. per annum on the 4i per cent. The directors
had been enabled, by the payment of the telegraph pur-
chase money and the liquidation of guarantees, to arrange
satisfactorily every outstanding claim against the company.
The capital account to the 31st of July last, chewed that
£3,059,969 had been expended, leaving a balance of £19,004
in favour of the account.

LONDON STOCK EXCIIANGE.—WEDNEsDAy.

LATEST PRICES.—AFTER OFFICIAL HOURS
The prices under the lines Indicate the business done.

GOVERNMENT SECURITIES.
Three per Cent Consols.. 911 92 Vict 5p c Jan & JulylB94 10151021
925, li Brazilian, 1865, 5p o .... 89 90
Do for Account 9ll 92
92 Egyptian, 1862, 7 p c.... 80 82
Three per Cent Reduced 901 901 82
905, 1,5 x d Do Rail Deben 7 p .. 99 101
New 3 per Cent
005, 1 x d Italian, 1865, 5p c
Exchequer Bills, March 48 pm Peruvian, 1865, 5p c
pm 871
Do, June 4B pm Portuguese 1869 3 p 0.. 281 291
43 285. 1, i
Dm
Bank Stock
hut, 232 x d for opening 885, 5,9, 85
India 5 per Cents - Do Nicolas Ip o
S
110 885, 5
Spanish. 1867. 3pc
India Bonds
15s, 19s pm 272, i, 1 26 27
Can 6pc Jan&Julyll77-84 105 107 Do, 18697. 3 p
61
c
Do March .a Sept. 103 105 2,5,
103 Turkish. 1854, 6p c B5 87
1865. 5 p 0
Do 5p c Jan & July .. 98 100 Do,
99; 81 421. 3, 21, 15
Do Inscribed Stock .. 97 100 Do, 1865. 6p o
Dom of Can 5p c 1903 .. 98 100 621, 1, 3
Ceylon 6 p c May and U.S. 5-20 Bonds, 6p a 1882 901 901
November 1878 ....... . 107 109 d 901, 5
1885 895 891
Mauritius 6 p c Jau and Do o
July 1873 .. . .. .. ... . 103 105 895. 6
New SW ale B 5.1, 018171-76 100 102 Do 10-40 Bnds, spo 1904 841 851
New Zealand 6 p c 1891.. 106 109 855, 5. 1
Do spc . .. .... ... —. 96 98 Erie Sha,loo dots, all paid
Do 5p a Consolidated 97 93 Illinois Central Shares
975, 72 1091
Do 6pc Mar &Sept 1891 105 107 Atlantic and OW R Con
Do June & DeclB9l 107 110 Mortgage Bonds 255 26
Viet 6p c Jan &July 1891 113 115 261, 6
DoApril&OctlBB3-85.. 113 115
1145