The Sun.
London, England, 1866-07-03 00:00:00

HONEY MARKET

ose singular specimens, and the description of a mud
bath is so dreadful that we are tempted to exclaim at the
outset that the cure is worse than the disease, whatever
that may be. " Twenty per Cent." is a banking tale of the
present time, " which is most appropriate in its appearance
just now. Many might profit by the periisal of the ad-
ventures and misadventures of the hero of this sketch, and
take his advice to heart in their rash ventures and foolish
speculations. "A Lay of the National Portrait Exhibi-
t ion" is well written and interesting, and the sketches of
" Modern Eccentrics" continue to put before us some
noticeable characters with their peculiar. ways.
COLBURN'S UNITED SERVICE.—The United Ser-
vice partakes more of the " Line " than of the
saline element this month. " How to Reform the
Recruiting System of the British Army," being its
first article, and certainly the system needs a
thorough reform, for the abuses which have crept
into the establishment are worthy of the good old times
The writer is a medical gentleman, and his experience
may be taken as a voucher for the knowledge he displays.
There are in Great Britain seven recruiting districts—four
in England, two in Ireland, and one in Scotland. These
seven aro divided into sub-districts, or sub-divisions,
and the officials comprise an inspecting field-officer, an
adjutant, a paymaster, a surgeon, and non-commissioned
officers and men, the latter being spread over the districts
according to circumstances. Besides all which, there are
other sub:divisions or superintending officers, with a host
of others to see that these do their duty ; the orderly doing
little, and the disorderly doing less. And this is the way
that recruits are manufactured into the service, and at a
cost not to be reckoned. No wonder that the army esti-
mates keep increasing, and the people ask the reason
why? To make the matter worse, the generality
of the recruits turn out to be worse than useless—not
worth the "bad shilling" which hooked them—and still the
regular expense goes on for the good of the service. But
even now the authorities seem to be more alive to the sub-
ject, for the expense is so unaccountable that two of the
districts are broken up and the recruiting entrusted to the
local pensioners. Even this will be found inefficient, for
the pensioners will be getting old and indifferent. Now,
our medical friend proposes to do away with the militia as
useless, for in case of any emergency not one-half of them
would be fit for duty, or, if fit, would be unwilling to serve;
he would therefore disband the men, reserving the staff,
and employing them in recruiting for the line. This
would be saving a vast expense, and would be having an
active force always ready to meet any necessity. Besides,
he would like to localise the names of regiments, as of old,
in order to promote a patriotic rivalry in the several corps,
so as to make them
" Brethren in arms, but rivals in renown."
We think the plan is well worthy of a fair trial. " The
Theory of Carrying Weights and the Infantry Knapsack"
is another subject well worthy of the consideration of the
War Office and the Horse Guards, for it has become a pro-
verb that "the knapsack kills more men than the bullet
and bayonet taken together ;" and we verily believe it, for
the pressure of the knapsack straps on the blood-vessels,
and still more on the nerves, obstructs breathing, and pro.
duces paralysis and even apoplexy. It is only in active
service that the absurdity of our red-tape fooleries is
•brought to the test. The Peninsular war produced Brown
Bess, and the Crimean war abolished the old, stiff stock,
which choked many a good soldier. " Naval Pensions,"
and "A. Visit to Admiral Fitzroy's Weather Office,"
are well deserving of attention—the weather indica-
tions of changes more especially so from their
novelty. Most people pretend to be weather-wise,
but it requires more acquaintance with the elements
than some are gifted with to foretell what day will rain
and what will not. The public are under very deep obli-
gations to Admiral Fitzroy for having brought the science
tosu
manychsa serviceable purpose, by being the means of
saving
valuable lives along our stormy coasts.
There are about 200,000 ships,with about 1,000,000 of men,
now upon the ocean, and more than 1,000 wrecks annually
occur upon our own shores. " Lifeboat Oars" is an article
made up from one that has appeared in the journal of the
National Lifeboat Institution, and commends itself to the
public attention. The chief requisites are lightness, stiff-
ness, and strength, and these are principally found in the
Norway and Baltic white spars. But there is another-
-the Oregon or Vancouver Island pine—a wood peculiar
for its being free from knots, and growing to a very great
height. It is chiefly imported for the masts of yachts, and
very dear, on account of the distance. " The flagstaff in
Kew-gardens is the finest and longest spar in Europe, be-
ing 159 feet high, and only 19 inches in diameter at its
base. The tree from which it was made was 220 feet high.'
The Report of the Jamaica Commissioners is justly de-
nounced as a species of "tinkering" that may well make
Mr. E"
yre and his assistants of the army and navy register
yew never to save another colony" so long as Exeter
Kali continues unhappily in the ascendant. " His case,"
says the writer of the article before us,." reminds us of the
old story of one of Vernon's seamen, who, going on shore
without leave at Portobello, found himself suddenly in
front of a small fort. Being equal to the emergency, he
made a dash at the Dons, who, supposing he had assist-
ance at hand, at once surrendered. Some boats crews
Were sentfrom the fleet, the fort secured, and Jack brought
on board. Here he was threatened with the cat for his
absence, when he exclaimed to the Admirrl, "Let me off
this once, your honour, and I'll never take another fort as
long as I live !"
MACMILLAN.—The story of " Cradock Nowell"
is continued with vigour, and is the first thing to
meet the reader when he takes up " Macmillan."
Events crowd quickly one upon another, and the
death of one of the foremost characters, and, as it
now appears, the real murderer of Clayton, occurs
unexpectedly. What effect this will have upon the for-
tunes of the unlucky hero, who by-the-bye is reported to
to be lost at sea, remains to be seen. Mrs. Norton's story
of "Old Sir Douglas," having from some unexplained and
Mysterious reason disappeared from the pages of this maga-
zine, its place is filled by the first chapters of a new romance
by henry Kingsley, author of " Ravenshoe," even more
wild and Weird than usual, although dealing with nothing
more alarming than an English country squire, his two
abnat and his poachers. The Rev. H. Whitehead, who
sstormesetpmp
timeu ago gave us the detailed history of the Broad-
and its connection with the epidemic of some
years a6n.o,
returns again to the charge, and traces " The
influence of impure water on the spread of cholera" in a
startling manner. The threatened visitation of the dreaded
disease has as yet spared us, but that is no reason why we
should disregard plain facts so closely associated with the
public health. "Baker's Exploration of the Nile Sources"
Lord
Brougham, and the Reform Ministry" is the title of an
article examining into and comparing the various accounts
°„r,t_be passing of the first Worm Bill. The " Essays at
of
Times" deal this month with "certain dead weights
tutrsarietY'" taking as their representative an old agricul-
tural labourer, and telling some home truths as to the
him nner in which legislation and society have dealt with
er
andew c e his
fellows. We must not omit to mention " Not
," some verses half playful, half pathetic, by Denis
MacCarthy, founded on the receipt of a letter with
this unflattering inscription returned from an old and
favourite place of residence.
11ail THE MONTH.—The readers of " The Month" will
. _ with delight the first chapters of a new story
obry L ady
Georgiana Fullerton. "A Stormy Life,
Queen Margaret's Journal," is its title, calling up
fop
irdthpicturee, and promising interest of a high order. The
ea part of the series on " English Premiers " records
thereers of the Earl of Chatham and Lord Bute. " The
Frontiers of Southern Germany" is an article very appro-
priate at the present season, and a few words "From the
Grape of Eugenie de Gudrin" can hardly fail to attract the
attention of all who have read the story of her simple and
beautiful life.
LONDON SOCIETY.—Always one of the brightest
d most sparkling of the magazines, London Society
liana thie* month lost nothing of its attractions. We
havess love stories, prettily illustrated, pleasant os-
Wing sketches, tempting
deep and shady, or at sea-co
glimpses. into woodlandsg
too fascinating to the weary aets wild and fresh, only
Londoners, whom the dread
necessities of politics, fashion business retain in the
everlasting streets. There are,ort
attempt to rise above the level of social iaipoeems which do not
commonplace, and
are consequently successful. One of th
papers comes from the pen of Mark Lemonm'and
forma
acttihvee
tinLgondon Streets."
seventh chapter of "Up and down t
It records the many curious and interhese
to
good old Strand, which Mr. Shirley Brooke declares
setrbet" the pleasantest, and handsomest, and moset
this
London," and he asserts, not without reasoanglteahs
f ar a
fashionable ed u
ati on . e
rho papa shows, that " to walk the Strand is to obtain
Wh
b
afttuLttearist7 capeawbliensofMsolema eStharinteglibe" better than
thtaalne
ainsebrialol_o-roooms and fishing for coronets.
in
wroic story, records the adventures of a
woful simpleton "Caught
Ceffeel.aho really deserves his fate. Two
sketches of
ouse and Tavern Life in Paris," and
of " Paris after Easte
re the reader pleasantly across
the Channel ; and a disco
so aside
in case he comes to
mers" affords him useful irnsse. °rl " Swimming and Swim_grief midway. " Our
et Resorts" is a seasonable
paper, illustrated by nonae
the Season " tells the
a chat about the " Book, of photographs, and
traveller what silent companions -
on his holiday. be should take with him
history of
"Colonel Rannoch." For more olid have a further instalment of M. des Lad articles ides we
ulaYe's for-
midable work on the " Civil and Politicil St of
the Female Sex," which still proceeds with thuss-
cussion of feminine rights and obligations i
Feudal Epoch. A criticism on " Pictur n ,the
men ~ • •
es y
is a little severe, as becomes criticism in a
ladies' man
lures i azine. Among the most interesting fea_
es n the number is the second report of the
Alexandra Native Girls' English Institution at
Bombay.
GOOD WORDS.—This excellent magazine fully

HER MAJESTY.

WINDSOR CASTLE, July 2.

The Queen, accompanied by their Royal High-
nesses Princess Helena and Princess Beatrice, drove
out this morning. Princess Louise and Prince
Leopold also went out driving.
The Earl of Derby had an audience of the Queen.

AND
COMMERCIAL tNsE LLIGENOE,

TWELVE O'CLOCK.

The Money Market is active to-day, accomodation
being in request, to liquidate securities arriving at
maturity to-morrow, the 4th. There are also other
exceptional engagements to be provided for at the
end of the quarter, and for the moment money is
wanted. After to-day it is believed that the inquiry
will greatly abate, and that the rates will then show
a receding tendency. First class bills, however, are
now negotiable as low as 81 per cent.
There were no gold operations of importance at
the Bank of England yesterday.
The shareholder~ and depositors in the Ramsgate
branch of the English Joint Stock Bank have
adopted resolutions, appointing a committee of
their n body to invite the co-operation of other
branehes in 'an united effort to effect a winding up
of the company, and deciding that the committee
should communicate with the directors, and urge
upon them the necessity of immediately calling a
general meeting of depositors and shareholders in
London.

It is stated that the question of the Spanish Cer-
4-ertificates was disposed of on Saturday last, and
also that the act had received the signature of the
Queen.

Two o'CLocK.

At the Paris Bourse this morning, according to
Reuter's telegram, the French Rentes were 63f. 60c.
Firm.

Arrangements are stated to be in progress for
the due payment of the coupons of the London,
Chatham, and Dover Railway, which fell due yes-
terday.

The various departments of the. Stock Exchange
have to-day presented a better appearance. The
improvement, it is true, has not been
very considerable, but prices have tended
upwards, and a better feeling prevailed. The
Consols are 86f 1 for money, and 8614 for the
account. The New Threes and Reduced Annuities
are 85f ; Exchequer Bills, par ; Bank of Eng-
land Stock, 240 ; • and India 5 per Cents., 103 1.
Foreign Stocks are generally at firmer prices.
Turkish 5 per Cents. are 27f 28 ; Mexican, 14f 1
Greek, 10f 114 ; Spanish Passive, 19f s ; the
Certificates, 15+ ; Italian, 40i ; ditto New, 50
52 ; and the Brazilian Scrip, 4 3 dis. ; United
States 5-20 Bonds, 651 ; Erie Shares, 37f ; and
Illinois, 741.
In the Railway Share Market the operations have
been on a very limited scale, and prices have shown
increased depression. South-Eastern have declined
£1 10s. ; Great Eastern and London, Chatham, and
Dover each ; and Great Western, 15s. ; while
Metropolitan have improved 10s.
The Foreign and Colonial lines exhibit no mate-
rial changes.

Bank and Miscellaneous Shares are very dull, but
at steady rates. Consolidated Bank are marked
4i ; Agra and Masterman, 5; Land Mortgage Bank
of India, 3i ; English, Scottish, and Australian
Chartered, 17 ; Union of London, 44} 45 ; Egyp-
tian Trading, 11 ; Credit Foncier and Mobilier
of England 1i dis. ; General Credit, 2f dis. ; and
National Discount Company, 7f f prem.

BRITISH FUNDS—ONE O'CLOCK.
GOVERNILENT FUNDS.
3 per Cent. Consols
Do. Account, July 10.
3 per Cent. Reduced Bst
New 3 per Cent 854
New 2} per Cent. Jan. 1894
Do. 5 per Cent. Jan. 1873
Annuities, 30 yrs, expire sth Jan., 1880
Do. for 30 yrs, expire sth April, 1885 —
Do (Red Sea Telegraph), Aug., 1908 —
March.
exchequer Bills, £l,OOO, 3 per Cent. par
Do. £5OO
Do £lOO and £2OO

Bank of England Stock, 5 per Cent
Do Account —
INDIAN GOVERNMENT SECURITIES.
,ndian Stock, 10} per Cent., AprillB74 Shut
Do. Account
Do. 5 per Cent. July, 1870
Do. 4 per Cent., Oct. 1888
Do. Certificates —
Do. Enlaced Paper 4 per Cent
Do. 5 por Cent., Jan. 1872
Do. 51 per Cent., May 1879 —
Do. Deb., 4 per Cent., Aug. 1866
Do. Bonds, £l,OOO —
Do. under £l,OOO
FOREIGN FUNDS—ONE O'CLOCK.
Argentine Republic, 6 per Cent., £l5 pd — pm
.ustrian Bonds, 5 per Cent, 1859
Brazilian 5 per Cent
Do. 41 per Cent., 1852-58-60
Do. 1863
Do. 1865 —

Do Account v 72
Do. £lOO Bonds —
Do. Scrip, £55 paid
Buenos Ayres 6 per Cent ._
Do £lOO Bonds
Do 1 per Cent. (Deferred 3 per Cent )
Chilian 6 per Cent r —
Do. 4 per Cent

Do. 61er Cent

Do Scrip, .Z5O paid
Colombian 6 per Cent. —
'Juba, 6 per Cent.
Danish 3 per Cent., 1825 —
Danubian Principalities
Do. Account
Equador New Consolidated, 1 per Cent —
Do Provisional Land Warrant —

' Do Deferred
tigyptian 7 per Cent
Do., Second issue Bl 2
Do £lOO Bonds .
Do.
Do £lOO Bowls .

1864 -

Do. Government Railway Debentures. 77 f
Do. £6O paid
creek 5 per Cents., 1821-5, ox Coupons
Do. Account
Do. Coupons
Do. Account
Ctuatemala 5 per Cent. —
ttolian 5 per Cent 1865
Do Account —

Do. Marommana Railway —
Alexi= 3 per Cent
Do. Account
Do 1864
Do 6 per Cent. Anglo-French
Aontevidean 6 per Cent., £3O paid
loorish Imperial 5 per Cent
Do Land Warrants (Hectares)
New Granada —
Do 2 per Cent —
Peruvian 5 per Cent., 1865
-Do. Account —

"Do 3 per Cent. (UribaiTen) —
Do 4i per Cent., 1862
Do Account —
Portuguese 3 per Cent., 1853
Do 3 per Cent., 1856, '7, '9, '6O, '62, '3,
Do. Account
Russian 5 per Cent., 1822, £ St —
Do 4 per Cent. 1850
Do 4 por Cent 1860

Juno.

Do 3-per Cent. 1.859
Do 5 per Cent. 1862 Bl 2
Do 5 per Cent. 1864 —
Sardinian 5 per Cent
Do: Account
.
Spanish 3 per Cent —
Do Account
Do New Deferred - ,
Do Account
Do Passive —
Do Account —
Spanish Cert. of Coup not funded —
Do Account
Swedish 4 per Cout. '
Do. 4} per Cent. 1864
T urkish 6 per Cent. 1854
Do Account Bo}
Do 6 per Cent. 1858
Do. Account

,
Do £lOO Bonds__

Do 6 per Cent. 1862
Do Account 5l 50

Do £lOO Bonds _ 53

Do 6 per Cent., 1863
Do 5 per Cent., 1865, paid up Scrip
Do Account
Do. 4 per Csnt. Guaranteed
Venezuela 3 per Cent.
Ditto account
Do 6 per Cent., 1862
D. Account
Do. 6 per Cent, 1864 3ll
Dividends on the above payable in London.
TWO O'CLOCK.
Consols for money
Do. Account B6l

ACCIDENT TO THE P RINCE OF WALES.—Yester-
day afternoon, as H.R.H. the Prince of Wales was riding
in Rotten-row, Hyde Park, he met with an accident which
at the time caused considerable alarm. As the Prince Was
riding at tho Kensington end of the row, a horse over
whom his rider seemed to have lost all control dashed at a
furious pace along the ride. The animal came direct upon
his Royal Highness, who, seeing that a concussion was
inevitable, disengaged his feet from the stirrup-irons, and
fell clear of the horse. The concussion came with such
force that the Prince's horse was dashed down; rolling
over and over. The other animal did not fall, but con-
tinued its onward career. His Royal Highness was not
much hurt, but he must have received an awkward twist,
for the heel of his boot with the spur thereon was subse-
quently picked up by a groom on the spot where the
accident took place. So little was the Prince discom-
moded by the accident that in the evening he was present
at the royal banquet at the Trinity House.