The Sun.
London, England, 1870-12-15 00:00:00

IHE SUS, LONDON, THURSDAY, DECEMBER 15, 187 C.

THE MONEY MARKET.

CITY, Two o'CLocx.

The arrangements of the settlement Are nearly all that
has taken place on the Stock Exchange to-day. There
seems to be nearly a total cessation of business, but the
discount market is firm at about 2i per cent. Railways
are firmer.

Consols are quoted 911 to 911 for money and account.
Foreign Stocks present scarcely any change. French
Defence Loan, dis. to prem. ; Italian, 55 to 554 ;
Russiah, 83. to 85 ; Spanish, 31 to 314 ; Turkish Five per
Cents. of 1865, 431 to 43/ ; and ditto of lag, 50 to 501.
The New German Loan is still steady at about 1 prem.
It is understood that the London applications for the
North German Loan have exceeded the £3,000,000 to be
allotted.
The Spanish Financial Agency has announced the pay-
ment of the coupon due the 31st. inst. on ,the 3 per cent.
Consolidated stock, into which the various denominations
of Spanish bonds circulating in the markets have been
unified. An application, it is said, has been made to the
committee of the Stock Exchange that the, three issues of
this stock of 1867, '69, '7O, which are similar in every re-
pect, and dealt in separately, should henceforth be quoted
together in the official list, following the precedent ,
adopted with the various Portuguese loans. Meanwhile I
it appears that the committee have fixed for the first time
an equal making up price on the three issues for the
settlement of to-morrow.
The report of the Ceylon Company (Limited), to be
presented on the 20th inst., recommends an interim divi-
dend for the six months ended the 30th of September last
at the rate of 6 per cent. per annum.
The directors of the Ebbw Vale Steel, Iron, and Coal
Company (limited) have declared an interim dividend of
10s. per share.
With regard to the Japanese Loan, notice has been
given that by an Imperial edict dated the 29th of June,
1870, the Oriental Bank Corporation have been appointed
agents for that Government, Mr. Lay having ceased to be
Commissioner.

Vice-Chancellor Bacon has appointed Mr. James Ford,
of Moorgate-street, official liquidator of the Nevada
Freehold Properties Trusts. _

The half-yearly interest on Peruvian Six Per Cent.
paid up Scrip, due on the Ist of January next, is adver-
tised for payment, as also the interest due on the French
,Ap
paid-up scrip.

(CENTRAL kREBs TELEGnA3IS.)

ITHE EARL OF DERBY ON THE MILITARY

SYSTEM,

The Earl of Derby last night performed the ceremony
of distributing the regimental-shooting prizes to the Ist
Lancashire Rifle Volunteers at Liverpool. His Lordship,
Who is the honorary colonel of this regiment, spoke highly
of its efficiency, and complimented its officers upon the
exertions they had made to bring it to its present position.
Upon the general question of army and volunteer organi-
sation, Lord Derby said that the secret of successful
organisation was that men's hearts should be
in the service. He hoped that when the mili-
tary arrangements of this country were re-or-
ganised the free and spontaneous character of the
volunteer system would not be changed. He ridiculed
the idea of. the whole of the able-bodied male population
being drilled year after. year for the purpose of forming
an army on the Prussian model. The position of England
was totally different to that of continental nations. She
had no frontiers, and the utmost force she could be called
upon to repel was only one which 'could be carried across
the channel by a hostile fleet. To his lordship it appeared
that a nation was intended to be something more than a
camp, and a system which carried on war not by compa-
ratively limited armies, but by the whole mass of the
people ; indicated not an advance, but a retrogression of
civilisation. To put aside all other considerations, it was
cheaper to pay the fair market value of the labour a
nation required than it was to take it by force.

MR. GLADSTONE IN LIVERPOOL.
The Premier and Sir Thomas Gladstone were in
Liverpool yesterday, attending the marriagc; of Miss
Gladstone, daughter of Mr. Robertson Gladstone, of that
town, to Mr. Thornewill, corn merchant, of the same
place.

THE DERRY APPRENTICE BOYS.
At an aggregate meeting of the Derry Apprentice Boys
and their friends, held last night, it was resolved to
ignore the proclamation of the magistrates, forbidding the
usual procession.

STRANGE ACCIDENT IN A TUNNEL.
As a goods train was being pushed up a steep incline in
a tunnel connecting the Midland, and Manchester, Shef-
field, and Lincolnshire railways at Sheffield, last evening,
some of the forgmost waggons got off the line, and were
dashed against the side of the tunnel. Others laden with
valuable goods were driven with great force over the
debris al the engine was propelling the train at full speed.
The tunnel was completely blocked up, and considerable
damage has been done to the rolling stock. The engine-
driver and fireman escaped uninjured.

• FORGING BILLS OF EXCHANGE.
John Ward Sampher, shoe manufacturer, of Stafford,
was yesterday committed for trial, charged with forging
and uttering bills of exchange to Lloyds' Banking Com-
pany. The forgery was for a very considerable sum.