The Sun.
London, England, 1869-11-22 00:00:00

ART AND LITERARY GOSSIP.

Mulready told a friend that when a young man he gave
lessons in drawing to Miss Milbanke, and that she was
"not handsome," but, in appearance as in manner, "very
gentle and good."—lt is reported that an English noble-
man is ready to spend £150,000 in building another
opera-house, if the proper site can be obtained.—
Cal ibaldi's long-expected work, "Rome in the Nine-
teenth Century," has been translated from the Italian
by Mrs. Colonel Chambers, and is in the pros& It will
be published in a short time, simultaneously with the
original.—The first instalment of Mr. Wilkie Collins's new
serial story, " Man and Wife," appears in this week's
number of Cassell's Magazine. The opening of the
story is characteristic of the author's best style.—The
permanent buildings for the first Exhibition of the
series, in 1871, were commenced on the 15th inst., at South
Kensington. Messrs. Lucas,Brothers, arc the contractors.—
Mr. A. S. Sullivan has been in Paris, with a view, it is
understood, to the production cf some of his orchestral
compositions there. His " Prodigal Son" will be given at
the Crystal Palace on the Saturday preceding Christmas
Day.--There is not a library in the United States which
has yet reached the number of 200,000 volumes. There
are twenty in Europe which can claim that number.
—A. "centenary edition" of the Waverley Novels is in
preraration by Messrs. A. and C. Black. It will contain
notes by Scott which have never before been printed. This
edition will be dedicated to the novelist's great-grand-
daughter, Miss Hope Scott, of Abbotsford.—The Musical
Standard regrets to hear that Mr. Balfe is suffering
from severe illness.—The performance of the Italian Com-
pany at the Cirque, Brussels, has been suspended, owing
to the extreme cold in that city, and deficiency of the
heating apparatus at the theatre.—The civil tribunal of
Munich has just pronounced a decree of divorce between
Mdme. Cosina de Bulow; nee Listz, and her husband.
This is the lady who, it is said, is about to marry Wagner.
—Wagner has sent to Munich the score of another
opera, "La Valkirie." The work is a continua-
ti(m of "Rheingold," the performance of which latter
alone lasts, we are afraid to say how many hours.
The Gaiety Gazette says the site where, previous to its
turning down, &lyric House stood, in Leicester-square,
has been secured for a winter garden and theatre of huge
proportions. The whole block of buildings has been
taken, and a public cempany is in process of construction,
issuing £1 shares, not less than £25 to be taken up.
The auditorium of this new theatre will seat
:3,000 persons, and the stage will be larger than Drury
Lane. A covered façade in front of the house is
also contemplated, calculated to shelter a thousand people,
if need be, from the weather. The promoters of this com-
pany—which is already pretty well organised—have
secured a place at Isleworth for the supply of the plants
and flowers, and have a dairy and laundry at the same
place in connection with the establishment. The building
will begin in January, and the theatre is expected to open
in September.

TRADE AND FINANCE.

SATURDAY EVENING.

The Turkish Railway Loan still appears to be undecided
upon, notwithstanding the confident statements that had
from time to time been made in reference to it. It is now
asserted that the Comptoir d' Escompte has taken it up,
a most improbable tale, unless by this is meant that that
institution has undertaken the agency of a syndicate of
bankers interested in the operation. It is understood that
something of the kind is in contemplation, but we have
good reason to believe that neither the price nor period of
issue has been arranged for.

The many lame attempts to introduce foreign loans into
the market have recently excited a feeling akin to ridicule,
and the aversion of the investing public to this description
of security is becoming more and more decided. As a matter
of fact the London market has become over-supplied with
stock, and a general depreciation has taken place in values.
Nevertheless there appears no reason to doubt that the
needy borrowing States will take advantage of the exces-
sive facilities offered Ity the Western money market so
long as it is open to them, and it is a matter of grave
question whether we do not lay ourselves open to imputa-
tion in affording these facilities. It is satisfactory, how-
ever to perceive the growing disfavour with which every
fresh application is received, for it has become evident
that some States are utterly indifferent as to what burdens
are entailed so long as their present necessities are
provided for. Probably no trade has undergone a
greater revolution than that in foreign loans. Instead of
the whole question being kept in the dark until ready for
announcement to the public, we now see the history of the
negotiations throughout, and, so far from not being per-
mitted to understand what house has obtained the loans,
we now hear, from day to day, who has refused
them. Tho great capitalists have, it may be observed,
stood aloof from all recent transactions of this nature,
and have shown a great degree of caution in choosing
the States whit which they will deal. Yet there is no
reason to believe that the profits of contractors are smaller
than hitherto; on the contrary, the presumption is that
they ore greater, and with a certain class of loan they must
be very heavy. A difficulty generally arises on the part
of the contractors on account of their being required
to take a considerable portion of the stock firm; but this
has been obviated, in many recent cases, by the loan being
introduced on commission only. Evidently the competition
fer these contracts among the large houses is much less
animated than a year or two since, and probably this move-
ment will yet acquire greater force. The Engligh stake
in foreign loans is already uncomfortably large, and each
fresh issue of stock tends to further depreciate the value
ef that already on the market. The issue prices of the
new loans are greatly below those of the early issues of the
,erne `:_tates, and this difficulty in obtaining assistance is
of cour.e in proportion to the extent of the liability
;.`ready incurred Ly the borrowing State, and by the value
o the securi!y to Le pledged which still remains in its hands.
further cause of the prevailing distrust is the attempt
ts,.de by sense titates t 3 partially repudiate their engage-
mcni.a by taxing the coupons, while many of them spew an
in:iuttion to refuse, if possible, the guarantee demanded
airi.A flair entering the money market for a stated in-
tcrval_—a restriction that has become very necessary. It
will be s: en, therefore, that while the profits on these
:,lee.,tlations arc likely to be great so long as the dividends
arc paid, they are becoming more and more dangerous and
less suitable as an ordinary means of investment.

There is a rumour prevalent, on which, however,
too altich reliance should not be placed, that the Bight Hon.
J. B. Donison, Speaker of the louse of Commons, is about
to retire with a Peerage, and that Miniaters intend starting
for the Pre sidentOtip et the ii9tl4o Air John Duko Coleridge,
Solleitor-General,