The Sun.
London, England, 1869-07-12 00:00:00

TRADE AND FINANCE.

- The payment of the dividends, vs-hich commenced on
Tuesday last, has greatly added to the amount of capital
seeking employment in Lombard-street, and it
would almost appear that we are again about
to enter into a period of inaction, equal in
intensity to any experienced during the last three years.
We are now in a very dull portion of the year, and the de-
mand for money is likely to be the more restricted on that
account. With the approach of autumn, when the import
trade assumes its largest proportions, more inquiry may
be anticipated, but there appears to be no present prospect
of any return of activity in the market. A large influx of
capital may be expected in Lombard-street, as the par
ments for interest on foreign bonds and bank and railway
shares will he very heavy, and it is difficult to see, there-
fore, how the present official rate of interest can be main-
tained.

There is one feature in trade which may have some
effect upon the value of money. Cotton has taken a
decidedly upward course in value, and our advises from
the Eastern markets are such as to lead to the belief that
a heavy demand for goods for export will soon set in. A
considerable business has been concluded this week, but
even this will probably be checked if the advance in the
price of the raw material continues. No very great demand
can be satisfied out of present resources, and in looking
at the question of the probable future supplies, there is
room for a further considerable improvement in the quota-
tions for the raw material should trade be resumed in the
Manchester market on anything like its ordinary scale'
At present prices, however, this is not likely to be the
case ; and, in the event of any great advance, the activitY
which has sprung up will probably soon subside ageie*
The Eastern markets, however, must be nearly bare of
goods, and the deficiency must be supplied sooner or
later.
The corn trade has shewn a remarkable degree of
firmness for the time of year. Immediately
before harvest there is a natural tendency towards
lower rates in the value of cereal produced ; but
the position of the trade this year is so peculiar that the
reverse has been the case. Notwithstanding the glowing
accounts received from many quarters as to the prospects
of the crops, there is a growing belief that wheat will be
very variable both in quality and quantity. For this reasee
no little anxiety has been shewn on the part of millers to
secure as much as possible of the splendid quality of 1568,
which bids fair to assume a standard of value in the
market during the ensuing season. The import trade ale°
presents features which should produce caution
in submitting to any decline in the rates.
accounts from the North of Europe report great dalu3g,..e
to the crops from the unfavourable weather, and mach
excitement had prevailed in the wheat trade in conee:
quence throughout the Baltic ports. Prices there 3.11:
too high to admit of operations to this side, and our cluef
sources of supply will therefore be Russia and the "United
States. From these latter our receipts will probably be
heavy, but some time must elapse before they can make
their appearance in the market, and until then the tone
of the trade here will be firm.

A woman charged with stealing a sovereign 311
the Middlesex Sessions pleaded kleptomania. Her husband
,
was bound over to bring her up for judgment when caned
upon.
A petition of Ellen Howard on behalf of her infant
son, claiming to be Earl of Wicklow, was heard by a C° 1/3c;
mittee of Privileges on Saturday, and their lordships of der.,
that Mr. Sergeant Ballantine may be at liberty to apPea.,r
counsel for the petitioner, if he think fit, in addition to
Charles Clark.

A French savant, in giving a relation of th°
curious maladies which attack the organs of vision, 01:
that some time ago a whole regiment in garrison
Strasbourg was found to be suffering from a strange
disease; the soldiers could see very well during the 1343
but directly the sun set they became quite blind, an
could distinguish nothing by the light of the most 1300
lamp. In another case a gallant tar became suddell
affected in a strange manner ; when a ship appeared ° t
the horizon he could see the yards plain enough, but °0
the masts ; or horizontal lines, and not perpendicular Cue
CABINET COUNCIL.—At the Cabinet Council holdnt
r
on Saturday, in Downing-street, the Ministers prey rd
were the Right Hon. W. E. Gladstone, the I; rl
Chancellor, Earl do Grey and Ripon, the -
of Kimberley, the Right Hon. H. A. 13.pril.:ii;
the Earl of Clarendon, Earl Granville, the A'lllos
Hon. E. Cardwell, the Duke of Argyll, the Chan"'
of the Exchequer, the Right Hon. Hugh Childers, t;
Right Hon. J. Bright, the Right Hon. G. J. 00sched
the Marquis of Hartington, and the Right Lien'

Fortescue.
ADMIRAL FARRAGUT AND THE DUCHESS ()°
SOMERSET.—In the new book entitled "Admiral Far'
ragut's Flag Afloat" the writer relates this characteristic
anecdote :—" On the day preceding his departure r°11:
London, when her Grace the Duchess of Somerset 1/17
earnestly entreating him to dine with her for the f°urnt.;
time on the morrow, gratified with her emprosenze'it
manner, he grasped her hand with both of his own The
exclaimed, ' But, my dear fellow, it is impossible .
Duchess was delighted with the term of endearmen '
claims it as a legacy from Admiral Farragut, and rej3te°
it with the liveliest pleasure."
STEAM CARRIAGES ON COMMON R°ADS.----ili
bt
Paris a new mode of locomotion has been started, Lic
if it should prove successful, will solve a very old pr'obe'd.
arAlong the outer boulevards there are railway steal'', „- a
now running without rails. Hitherto it has been '°1,.10
impossible to construct engines which could,run g
macadamised road ; and the difficulty of gtlli
the engine without rails has provetl I,ielt
obstacle. Some years ago there was a steam carriage vc-rari
ran between London and Cambridge ; but it- :11101; -.01
into a ditch before it bad got fairly on its w.**, au
therefore abandoned. If, however, these Parisian r°o
engines run straight, and do not tear up thezroadn'cl'.‘o,
shall have entered on a new era in steams., locomotioch
Still it must be owned that the boulevards ka the l'fento
capital are so beautifully laid down that it not WY
argue from them to our ordinary English_hidiyiar•