The Times from London, Greater London, England on June 21, 1900 · Page 11
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The Times from London, Greater London, England · Page 11

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Thursday, June 21, 1900
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THE TIMES, THUBSDAY, JUNE 21, 1900. FOREIGN MARKETS. KKW YORK STOCK EXCHANGE. j - UuIm at the Stock Bxdan La been Jffiy larr. ho Strega treaaaetfoos rrpril - SIS.OCO shares, largely contUUng of locl :p'Irkei ba been unsettled and irregular tfcrontb - ri!!taf :m lnit iMation of Iocs stock m iter and now eflrnwrfve short selling. The u7u steady .cias to encc4 - ragiag Leaden ?T - kI fcelia " "nl 1118 North abeat ratio. Leaden hotue boajbt 15,000 t9 jur early la the day. ciiicfly Xcrthera Socibrro I'scincs, end Atcmaons, tcsTtber with la favourite which caused advance ranging fi Tl point in the - irtioular Hock. When, wheat reeumcd iU strong upward mortsmeat, 7'th'f crewon rrched the highest point since s4art. iUm the list became dcprpjxw'd under " - eft ilb tlratger croup. Large liquidation fol - - rliUc, ewrwcially in lotacc. 'ice Uoo - Jwynftv bear clique end other traders went lo C, - Urt' Ti - Tlbal the 10c. fare to Oooe J Island was illegal ?rwif that Mr. Kixuerclt would continue to l iSrf New Ycrk. which m held to auger ill for frTJ? Yk corT rati wis and the ixraxcre ar,iri.t Kse Metrvipvliter.. Manhattans; end Conohdtl i" rtrr prcisdaMit. Lack of support enabled iiTtabresk U pr - ee f Bafn poinu, and after C"t jaii - cnjcioa Julnei the recent sellir - g mor? - ft - iAoi.t the active IM wu rrsumed,. and the - Jed weak near the lowest point. Chicago kU Pec - pie' Ua oa fesir of labour trouble. f'Cialhe cut! market 11tw Conrorcul IV VtZi X was sold down to 30 on the cutting down ef lcmrea and fear or the pawing of the dividend, "SL of over i0 Knoc the Uinning of the month. SrfSre Sarars declined 3. Great Western Pref erred ? I2wa. - . Tilacco 2J, GcoerU Woctric 11, IVple' Qui, Laeiawanna 1, Ncrth - vUri, Atchion Adjnrtnicnt 1, Bar line - fllfl.skr, ew Ycrk Central. Rdin Pre - rli 'l, Baituaorw, wuimue, warjaso rnicmds H7dt racyx aiau. ienncase cau, X'oximtJ - hUe Gret WWm Debntnres, Jrracy ?SadraeeJ 1, Bir Foora 1, &n Francisco First iS'tatis Ccuta Oil. Kansas Secund J. rjToacy Market ha been steady, borrower of n Tod, eav'y KrpplyJnff their requirement at 1 to fl mx, S:erlicff exchange La continued to weaken, iail ra'c po:l for transfer are I and for.60 - jr f It is announced that to - morrow' SLxaU iioaiwr wxll take $600,tv0 of cold for ifCJ acecsat. i ilesar. Lasard Prerc and M0 f" a"'1 National City Bank, iltr i tra wsthoot further change in values, eosa - 2Z.j an rcinaicKic at CO bid. nTtzxZ t &e Fhiiadelphia and Erie i Railroad ootth ef April show : Gross incrcaM, .j00 art iacroa", i ,000. fvilewi utcaU cf earmnr are published to - , T thf second week cf Jtme. Uenran Central, ?U "fftV - incroase, J72.000 : bt. Louis and Sin Fran - tlMjXXtocrcase. 21,000. jjtrr ass ExciLurox. CI &'.T . - ; - r TT - - r oa London, sicat pc, cable transfers pa - M days' sijbt - , . pe., Berlin, short, siyht Ha., rara. 1J to 2 5.161 rrer.tUr. lj to2 4.861 4.S4J 95 5.16? I CVnaac prioa bid. fserssaa cooj I Cat. 92 124 25 tS.ipx.Poadsjllj isiaca - J 25j Dsrref. - .'lJ IX, New Ki Pa, Aij - i w !f Xud Otio 75H p., rrtf. i .olrt Do.! Bi. 102 OaaiPae rjsxS. Jersey - rt.Ccm. ftuNewiip - CilOlA r.BrlsilO.irB: 0 vad GV. VS. DoULclfel. Po..4 px. Deo. ch,sa.,ts.r. rrrf. Cbc oi N - VT. DePref. Csc, B.L. k P. Do.. 4 n - e. Ii. CLCak St. L. Dtirxai Hndscn Di.LL.aai W. iKCTsssd K - Gr. Dc, W. Iio.,f f.e.1 Mt. Em Do.. 1st Fref . Do, Gen. lien Do.. Prior Lien GcXtta. Tret. ISaoa Central la., fttt., G. jBaunra t!ooaj isiit.!Lowest 10 f1 mmnoi HOt ; 1.1 1071 llOti 53 i 111 r 1081 lW)iH75j If. LusSicre - )21i 20S1 IcsiriEe - . 7 CM 741 TrStin 11. i &S4ff h4 kVfnn - .1 llji; 11J ZSinaCent. j UUj I.si.. k T. laPref. Do &accnds Xwri,PaciSc. XT.Orotrs! X.T,0tt.,& W. Xsfti k West. Dc.tPref. D.,Ccas. Sxiea Pacific Do.,Pref. Sp - e. . reasjiTiKa Iw., Prdf. 14 p.c - wshera !.. Pref . ,Dlst5 n - e. cLPacic faacseo lx. Pref. .Da, SndPrtf. uh Pvi5c DcPref - .Do., Pref. i. Coca ksr. Eanr kts. 7otooo .Efcetric - St.Ltal TtCcalawilfca Valley p.C 74i J 72 i 123if! 126J 16: 1C 55rti 541 89i 87 HA! 10 110 ' 31: 671 31: 50: 71? 1051 17ti217 113H 1081 ! 31 tl! 81 Xl 131 J 1 1281 130 - 1& 18J 19 27ft 27 271 99iVl 97 965 14 C3i 63? 8Hj 78fh so 25 : 25 25i Uzusnotad. t Ex ir. 127 16 551 87: 10. 50; 110 67 315 so 712 1051 24$ 248 Til 6! T5 73 791 79 122J 121 25J 25 1251 1231 10 J 10 112J U02 157J 156 105J 1041 57 56? Ill 110 176 175 65J 65 111 11 331 S2J 70 70 liii iii2 75i 741 862 842 30i 291 66 661 49 474 128 1271 185 18 J 32f 32 761 761 51? 50 72 72 161 16 10 10 50 6o 32J 31J Mi 502 72l 711 IS 17J 1151 1112 8i 66j 312 302 129 128J 99 962 791 79 Bala of 107 or SO ISO 110 140 70 10 10 10 40 100 11 2S0 10 10 10 10 U0 100 10 10 COKTrNTrr at. nt otrer nnnnsES. JIS, Jcsi 20. Better disposition prevailed on to - ?T Bosrwi from the beginning, the situation in. China eouviered more reaaaannff. Far the" time bcinr JTrr w seemed to have come to an end, and a 7 hi pricoi took place consequently. During the hT I" f the day the markets showed little anima - tly Sooth African shares were in good demand on rJMOsdTice. Bio Tinto shares started firmer and Ir50 rood all car in consequence of the recovery in if Pjse of ctypei. Rise. Three per Cent. Portogaese - gjy Kian,ls&6, 35c., Spanish Exterior 5c.,Brailian, rit, 151, SI., iJanqne rrancaise ae f,?P i Sad Ilf., Compagnie Generate dp Traction ' - .CfcditXyciaiau 4f.; BoLinson Bank 2f., Kio Tinto j.brs22i., Charlcred Company llf., Unrban - r!Prt rWp If., East Band 3f., Geldenhuis Estate "V? Wdenhms nW Cf.. Kleinfontein 2jf., Lan - 2? lUnd Mine 13f., Botinson Gold 21fM xg fJP 4f Transvaal Consolidated Lands 2f., ivI M Keef If., New Goch, If. Fall. Italians ijt Tsrkish, Group IV., 121c, Bampe de Paris 12f., Joota Back 2f., Sues Canal 5f., Cape Copper 3.. ajS?," - Wemmer 6f. Cheque co London e. lower c - i. 12ie. ; private discount 1 lower at 2! per cent. rSootations. 3 30 n.m. : Three ner Cent. Per - 99f. 5c. : Three - and - a - Hall Three per cent Three - aad - a - Half Four per Cent gootatit J. Erate, money, lOlf. 70c. tacZT T,leL4. account, 100t. ; Eect. aceoiat. lOlf. 75e. ilrtt . . mr r. i f .. rj - j. jT ni . owe. ; r our prr irut. rjjunau )rr ount, HHf. 1436, account. 841. 75c. j7 Ulterior, account, 71f. 22J& Three icr Cent Three per Cent. : Four per : Cent. ; Turkish, Group J - , Mmt, 25f. 50c. : Turkish. Group IV., account. ll! J Turkish Lottery Obligations, : account, fe. : Four per Cent. Brazilian, 1889, account, : Pirn t rVnt riMV IRJU. ummt. 203f. : France akan. aeecimt. 4.0S5f. V Banaue . rll fcV . I lirl . Tl.. V.nttmm CC' itt Sudt account, 88f. 50e. ;( Compagnie - oe ractiorf. arroont. - '' f. : iXunpRjrnie Etf oe Mbea d'Or. account. 85f. : Credit Fonder .aeeount, 52Sf; ; Credit Lyomais shares, jJV7 1037I. ; Ottoman Bank shares, account, goUnson Eank shares, account, 88f. i Turkish .?es. accouat. S06f. : Sue Canal shares, - - pnvata discount, Z per ceni. ; lliPV,03 London. 25 121 ; Cape Copper, account. JT' .We - : HiV Tinto. aVMHTBtTl.Mlf. : Tbarau. Wir.We. ; DcBeers. arcoont, 687f. ; Champ : Chartered f South Africa!, account, Consolidated Goldfi!d Ordinanr. account; in - Roodtocrt rwn. account. 9Cf. : East TOCnetarT::aceourit. Ihhfi't Frrreira. account. jr : Preach Band, account, Clf. : GeldenhuU Mwunt, iegi. ; GeJfieihBii Vtts, ccowx 54Tf . ; KWnf onWn (Kcw), accouBt. 6f . 60c. ; Lancaster, account, 73f . ; May Consolidated, account, ll5f. 60c : MoxamhiqM Company, account, 62f. Me. : Ocean Consolidated, account, 4if. 50c rundfonteia EsUte, account, SOf. ; Band Mines, account, 1,0041. ; BoHnaoo Gold, account, ai5f. 60c. ; Robinson Deep, account. H9f. ; eimmer and Jack (New), accownt, 149f; 60. Tranrraal Consolidated Land, account, 80f. 60c Transvaal Qoldfields, account, 45f. ; Village Main Beef, account, 213f. : Wsmmer, account, 292f. ; New Goch, account, 66f. 50c. BERLIN, Jew 20. IVivato discount was 1 per cent, harder lo - dsv, Uit on the Bourse a more hopeful feeling prevailed owing to the tetter new from China and tha harder quotation reported from the Western Bourses, Americans and Canadian. Pacific shares were fcnncr. international stocks were well maintained, Spanish Fours, after teing Cat. recovered. In' local stocks an improvement took place, especially after oi&cial been: Rise, Three per Cent. PraMians lCc, Fourand - a - lialf per Cenfi Argentine COc, Fire per' Cant. Chinese 70c, Austrian Cnrlil shares ?0c, Deutsche Bank ) jiereent.,, Ditcohto - Comrnandit .60c, Bvchuroer 1 JtPcr cent., Itarpcner 21 per cent., Ncrthcrn rreffTi'Sc Fall. - Tlu ec jr Cent. Germans 10c, Three - snd - a - llalf per Cent. Prussians 10c, Italians 10c, Five per Cent. Mexicans 25c, Foar - and - a - Ualf Kr Cent. Portuguese 10c, Fpanib Fonts 10c, Lom - rds 15c Cheque on London were 1 point bordrt at 20 4 1 J. Closing prices,. 2 50 p.m. : Inrco per Cent. German Imperial loan, meter, 87 ; Three per Cent. - Piursian Consols, rmwy, S6 90 ; Three - and - a - llalf jwr Cent. iroMtsn - Consols, money, 95 40 ; Four - nil - a Half per Cent 4 Argentine Internal Gold loan, account, 69 ; Three per Cent. New Saxonian, account, 83 75 ; Four per Cent. Italian Rente, account, 94 40 ; Five per Cent. Mexican Consols, account. ?6 75 : Five per Cent. Chinese Gold; loan. 1896, account, 92 : . Four - and - a - Half per Cent. Chinese Gold loads, 1 398. account, 77 60 ; Four - and - a - llalf per Cent. Portuguese, 1838 - 18S9, rooaev, 36 ; Four per Cent. Spanish, account, 70 50 ; Turkish, Grtup IV., account, 22 75 ; Aurtrian Credit shares; account, 217 90 ; Deutsche Bank shares, account, 191 CO ; Duunto - Gesellschaft shares, account, 179 60 : Dresdner Bank shares, account, 150 30 ; National Bank fur Deutschland shares, arrcuct, 134 50 ; Bochumer shares, monev, 224 50 ; Harpcner shares, money, 204 ; Canadian Pacinc shares, account, 89 40 ; Northern Pacific Preferred shares, account, 73 75 ;. Lombardo - Venetlan shares, account, 27 75 ; private discount, 5J short money, 4J ; cheques on London, 20 41 ; exchange on London, eight davs' sight,20 39) : exchange on London, three mouths, 20 27 ; exbange oa New Vorki 'tight, 418 50 ; exchango on Paris, eight dsys' sight, 81 20 ; exchange on Belgium, two months, 80 55 ; exchange on Amsterdam, eight days' sight, 168 60 ; exchange on Italy, ten daysY sight, 7C 60 ; toll coupons, per' 100 roubles, 323 70 ; Russian paper roubles, money, 216 05. FRANKFURTrJciE20. Closing quotatiors,2 40p.m.j Four per! Cent. Greek Monopoly, 45 23 ; Four per Cent. Hungarian Gold Rente, W 10 ; Four per Cent. Italian Kent,; t4 10 ; Five per Cent. Mexican Consolidated, 185, 97 ; Three per Cent. Mexican Internal, 24 $0 ; Five per Cent. Mexican Silver, 40 50 : ITircerer Cent. Portugursc,2 l'40 : Four per Cent. Sponish Exterior, 70 25 ; Ottoman lUnk shares, 168 40 : Four per Cent. North Pacific lVior Lien, 102 75 ; Three per Cent. North Pacinc General Lien, 66 ';. Four per Cent. North Pacific Preference shares, 73 SO ; Six per Cunt. Southern Pacific of California, 107 30 ; exchange, on London, shori, 20 40 ; private lliscount, 5 per cent. VIENNA, Joss 20. Closing quotation. 2 - p.m. : Fcur per Centi Austrian Gold Rente, 115 75 ; Four per Cent. Austrian Crown Renta, 97 40 ; Five per Cent. Austrian Silver Rente, 07 40 ; Five per Cent. Aurtiian Paper Rente, 97 SO ; Four per Cent, llungarian Gold Rente, 115' 40 ; Four per Cent. Hungarian Crown Bente, 91 25 ; Fix per Cent. Balgsriaa loan, 97 ; Lom - bardo - Venetian Railway shares, 123 ; Lcmlierp - Cxcrno - witx Railway shares, 5Zi6 ; Anslo - Austrian Bank shares, 280 : Creditanstalt, CSS : exchange on London, sight, 2i2 20 ; sovereigns, 21 IS ; napoleons, 19 32 private discount, 4 ; short money, 5. AMSTERDAM, JCKX 20. Oosinc quotations, 5 pun.: Three per Cent. Dutch, 91 ; Two - and - a - llalf per Cent. Dutch, 78J ; Three per Cent. Portuguese, 222 " Four per Cent. Russian, 18S9, 951 5 Four per Cent. Spanish Exterior, 602 ; Four per Cent. Egyptian Unified, 1041 ; Five per Cent. Mexican Consolidated, 99 ; Turkish, Group IV., 22 ; Four per Cent. Brazilian, lSsO. CS; Four per Cent. Venezuela,. 1831, '25i ; Peruvisn Preferred, 10 J ; Penman Dtferrpd, 3 ; Four - and - Throc - Quarters per Cent. Columbiaa, 13 j ; Atchison Common, 251 : Atchison Four per Cent, bonds, 981 : Atchison P.refereace, 70 J : Southern Pacific shares, 32 ; Denver Common. Itl : Erie Common. Ill : Louisville and Nashville, shares, 74 ; Missouri, Kansas, and Texas Common, 101 Union Pacific Common, 51J ; Norfolk Common, 321 "1 Ontario Common, 191 ; Wabash Preference shares, 191; private discount, 3 J ; cheques on London, 12 09. AMERICAN PRODUCE. KEV YORK. June 2CL Wsraar. Ttw market ta to - dar entirety Mcond from sUraar' drnmiion. aod with ttrooc burins Drioat hare bten carhod to UV hixbast point tooehed uooe the Letter leal iu lop rpr.nf n latx. cpemnx cs we marEet wm wry nrm, with July ''f : tit demand from bean wu hrry tbroacboot thedaT.buttbricarcitTcif lien kgpt tb brainr wiUiin almnt mtat limits. 7hs chid, in&aeucr vers adricu from the 2iortb - Wast reporting a rittnr Utu; - xtarr and ealj lictt rains, bettj bejing etxter from Um Jirth - W9t Ana Eoc'uh cables, aod inuuaiini repert cf cUmeee to the rpnnc irtjrt crop. oreicn bujin order vers in the maiiet at ltmiU a huh oonid not be reached. 'Ihe cIom of the roarart ru xtrccf at Stic to 4 Vie. adTacce. On the kerb tradiiu eontmned with nnrtuaUooi in Ana! rates fboinx a further nae ci 6la. 7.70a.tXD bushel. Kxport buaiaeM curenct 10 wtjoii. no. i nortnern auraocwa ic. u uwai - uwidm estimates the qvantitria - riht rut of the Uocsies at 57.C3.C03 tauhctv acainst 57JU.90O in the previous wecx and sj.SU.000 bttihcl In the ccrmpcnrlmt rek of hut rear. STitzx oTMmed ouiet and 'ia. dearer for Julv. and memd umrard ia irrapftthr with wheat ia djsreprd of the bearr interior raoremeot aoci lae pmauer inipwogBfrninii, von cime wu( arm. u in uuproTe - nerrt cf lc Palaa.! 173.000 tmsheU Kiport trailing aoounfdto2S boatloads. Aceurdins ta " hradrtreet " the ouantitT in rifht east tiftheCockiea is now 12.977.0C0 buaheis. asaiiiat 17JS36.0CQ in the trvrkxu week and 1S.Z&000 bushels in the concspoodinf week of lart year. Oats. The cjuaniitj ia iit east of the Koekies, aocordmc to BradFtrrei." ttand at 1LSSL000 tm.hels. wuirh com Dam with 9vi nf - i tn the prrrioos week and lZfrO.003 in tbs oarratpondin; weak of laitycar. vCuOwisr are caih qnotations for tcb. ew York : UtA, 2 ciirped. Zft'sO. : rre, io. 2 Wectcro, Coc. ; barley, f eedint.ttVic TXotTB found a better demand tcMlay and ruled firm with a more active barmen at lOe. adTascc for rpncg wheat dears and 20c for winter patents. At Minneapolis pnoea are ljc. dearer all round. Aonrdini to the " Xorth - Wertern Miiler " the ttctput of flour riming the past week by the mill at Uinneapolia, Bupcrior. bulath, ana Udwankee was 2C3.E00 barrels, which compare with 233.300 in the previous week and '0,400 barrels in the oorrerpondicg week of but Sew York : To - day. Fpring wheat. - clears, - sacjcs .. .. z.'J3 Winter wheat, patents." sacks .. 1.80 HmneapoUt : i fiAecU. ucu lor erporr. .. .. iia Saken. sacks lor export L60 Prer. day. Z.SS 2.60 S.4S 2.50 DxTLT Gsais MoTXMcrrs (Thousands). To - fiy. 'Wheat fbushels) ' : ' Eeeeipti, WaterBu. muo, auuuO; Exports, ditto . Uake (buabeu) l fcept. Western. J jjiuo. Auanoe,.: sxporu, aioo TlourtbuabeUl : Receipt. Wetera.. AHLIO. AUaOUC giporU. ditto eiame car Tbi rlaAt year week. 58 13 4 SET 3?2 2C3 54 e9 5 3.030 163 134 M3 617 c 74 133 1.90 741 MS 2.733 1.700 W7 177 203 218 Thu ' 1S7.225 64191" 7423 1S3S4 145.393 146037 14,443 14.733 10.32 "EH" 2S6.00fr 100,535 82.733 1S8JS5 123.0S3 lt!S 1561 1U70 IBS clrwe steady with WOoox. Jane delhery, 15a higher at f7U3, and Western (team 2c up at fSSa Oomi rtarted aluhtly lower under the influence cf cotoorlm foreign new, but the tone wat rteady. aod during the day a reoOTcry eniued owing to the rcarcity of feller and rather dearer offers from Brazil, the ciote being - firm at S to 13 point advance. Sales. 11MQ hags, fairly etenjy distributed. Caah coffee is unchanged at c Cash June .. July .. A.ugust. he pledger October Ifoember December January ; lebroary' March .. April ssr jtdsy. rrer.Tc - day. rrerJTody. Prer. Wheat. SI S3 23 3 82 Maize. 43 45. 4 47 45K 45 CoSee. ' Vis 7.15 7JS 7.30 7J0 7.30 7.30 ua 1M 1JSS 7.6S 7.73 7.75 7.20 7.20 70 7.20 7.40 7.4i ua 7.55 065 ..7 - W. Mus - 5.50c. ITerUVWeat wCI umt ta'tKlnUm bcahehvaod that 11031033 hushe witt U Dwadsd fee aradvvt&le samst ssUsassaaof thscrop ar hum mors than 100.003.000 httabal.. , WItlTlulMrIUI Utemutaiot the day. wiU, as titcmmiui trade dniag. ortb.Weatrn bonwe were anmng the chW layer, bat loral iotenxtt aim aiorbrd aiwch wheat boti to oarer aod on ipeca - ssuoswum oootliraeJ bulUiu crop new iross tat spnag wneat ojs - tnct and the higher foreign, toarkats catalog an ntmaaly bulliah feaUnc. After a steady rla. with tew breaks, the nation finiahad trcng. wtUCraloes Jc. tn 3V - ahors ywrtarday. Many Kuropeaa baring erders wrre lines, and became Impracticable owg to um rapu risa. . Mazza onanal KLtl mw trrJmU fth a owlet bat Brra tone, and during the day drreioprd camaatoabie UwngUi aod artlntj La tjm - paicywTLOuw wnuu marset. euca. in pa a uim I' receifta, made bean tterrott. and indoiwd ronm'erabio corerisg. the clue belot ftna at IVio. to lKv adJaoce. . Oars flrnr at le. to l!e. adTanee. Eva Cm and 1V4. dearer. July. CFAc Lskd rtarted off. but Improved daring the feeeooon la tyra - pauy wun um grwo raaisel, and nuea una w uj cjbm. iwiwh oiui oar, Kraity at iSc. to or. advance, inaiiu . wsw umieiat for cash. October, 6.30: Jforember, 6.T7H - Kliw, after erectng rather easier, bwk an upward rorn en nor bnytng than selling; taking place, and had a firm market for the rest Poaa at the ftnt call wt 2Vu down in ynPthy with the eeaker hoc marirt. but rcovevtl i.ter on ahurts rOTertae, and kept firm Ul lUndl the close, ths ctskn reding steady at an all - rou ffo - day. rVrT.!To - dir - Prev - fTo - day. rrer, Uheat OatJ.. lard.. Hibs.. Pork.. Jane. July. s5 Si AKTU SCnd KK?u. R S5U 6.72 e - E7H 6.72S tMHi USA lL47tfll5 11.47S 81V. 4UJ Augurt. rUeuf Ji4c brptetaberT 41S A ro - uay. I"re. 1 er Taw 42 40S, S4"i 23 SHh 6.T2S 1(0 6.75 U.72H11X5 Unoffichd. Baoox ttrady and unehangeL Hogs an 10c. lower for both grades. Keuetpu her and at the principal Weatern centres sine itarch ltutol iliiOXl against S.!)G3,0UO a year ago. . lloga. - Keeeipta. Chort riear' y ' . - lide - i. Urht lleaTy. Weetera. Chieaeo. Tteday .. .. .. 7 M3 WO 79.000 32.13 l - JTrTday I! .. 7.2S 50 6.20 S7.UU0 17.000 B - ai day Uei year.. 6.00 . 3.80 J.75 63,000 34,000 BRAZILIAN MARKETS. T Tr TIT t t CTTWrf T...1Q - .ltrrnlltAl i TirvVin mArmntA Rd. to T.L The Oorrra ilarket ck d weak at 20J rcU further decline. Su. 7. ew York type. 8f30a KeorjstJ were 4,U bsgv making the eeaaou's total 3.100, against 1120a in the preceding1 year. ICxroners Durched 6.000 bags for the United 6lat ana 1.0X) for Lwi.4 bUic 423,000, aiiut 222.00J bags but year. The baKTua Market closed weik it a further reduction o lOUreia, Good avraa U now quuUHl at 77JQ Keceipu amounted tu '10.003 Ug. iiiakiagU.eec.n,stUl 5 571,000, as wmparM eith 5,i8,0OO same day but year. Btock. 21ZOJ0 bas, agauut - aOOO a year ago. THE RAILWAY ACOIDESTAT SLOUGH. arm ml in moderate demand at unchanged price. - 4. 4Us - m eestnfuraL 44tc. : refined rranulated. Mesxr. wluett and tiray in their weekly report gir the following I narticulari : Iteceipta, 17,030 ton, of which bC3 weje - ffom Europe ; . deirreries, 17.000 : meftinrj by refiner. 32.000 consumption at four j 1 United etatet port. SS.UUJ : anu tocxi. icuwai ujnrn. a cuuparea with 32.000. 3Z00O, 35,000. 35.003. and If 1.003 tons rerpectrtely eweek JSo? uben receipt were Z030 ton, agaiojit 2.000 ; eipoirUIZOOQ. againrt S.003 ; aiiliocls, 5S.CO0 tons as compared with 3,033 lut T iLLov steady, unchanged. Bales nil. Prime city, 4c. Metals. Cnrper tedy with a moderate Inquiry. Fpot unaltered at ltrtC. to lfiiC. ' Tin steady and' in moderate demand. Strait declined 25 mint to 30c i'li iron rteady with moderate buriness dcingst literate. No. 2 Northern foundry. ,13V. cbeal rails, 3S. Cottos on the spot ruled rteady at Ua advance. The Southern market are unchanged, excepting GalTerton. which is Ac dearer. Future have ruled actire and strong. At the opening tame Lrrer - pool adTices were the cause of a slight decline, but report of rains from the south and of serious carnage to the crop in the Mississippi VaUer tocether with predictions of further rains, caused a t harp advance; bears eowsred freely, while the market va further stimulated hy new iwculiiTe buying for account of Europe and New Orleans, which earned prices to taints shots yesterdar clots. Later iet - back was eiprnacord under free realizing, the market closing steady at 1$ to X pouts net gain. At New Orleans spot cotton ruled steady at Kc advance ; future show a net rite of 14 to 30 pointa. New York D, fr.t. Oct. Net. Pec. Jan. Feb. Msr. To - dar . STIto 8 - ft t 1U5 7.99 75 TAJ 186 7J7 7.90 xTday:: Sr. 'tS &56 32 79 7.J 7i7 7.56 157 7i9 71 New Orleans dosing price : . . . . HpoUne. VIt. Awr. FeT. jf i"t F To - day .. tAnom.fi.12 tM 7.88 7.71 7.63 7.60.7:62 7.64 7.67 Jrev.oay Y. Sr. tM 64 7.69 7.41 7J2 7J2 7JJ 7.35 7J3. Tenlsy. Week. Reashn. . last reason. HKhts at ports .. .. 4.800 10.600 6.468.833 B. 333, 430 ElloWEriIn:: 2.000 14.003 2.1E3 - 000 3.0CO Eipts to Continent .. 2.000 12.000 X 166.030 3.392X00 rariGUTS for liners rteady. with ample room on the berth.; Out - aiders quiet sad in limited demand. To - day. rrcr. Csy. SaTd. . .JtWt.. A. Si. 2.;7d. - 3s. 3d. Oraln to lirerpool steam .. .. Oram to London steam ..' .. Oram to JUrow steam .. . .. Urain to Bristol stesa .. .. Grain to liuU steam .. .. Ctraia to Newcastle steam. . . . Grain to Leith steam' flrviB Coast .. w iwmUnn VJL. or Continent .. 2.7V4d,. rwton to Lrrarnool i .. .. A rsmua - rrx. Eeuned steady and in fair demand at'. lata rate. New York. 7.ES : lliilade.'phia. 7J0 : refined ease. 9.15. Credit at Oil City closed steady, without change, at f L25. Ccnowcdxstoadyiuaattered. Cruda nominal ; yellow. 35c. ; TxarxJrrnri steady at Vie. decline to 47a. BAVANXAHJun 2a - rorrjr steady and VrS. lower at 43c, WILMaNQTON. Jus 20. Txrarrsrnri steady, unchanged at t3c Bosxs rteady. unaltered at Lia ST. LOUIS. Juoe 20. Wkxai strong at 3U& to Sc. advance. July. tie. : September. CHc DUlATrBiJuna ZL "What strong and 3 Isijher. July, Cc. : fjeptember, 82e. TOLEDO. Jan 1 WnxxT strong si a riss ofHe.i July. 83c a t v vn ivriuro Jnu B - Wirtif Srm fluk' haiadvaneed JVic to lOlHc. and December a like amount to I12e. No. 1 (Standard mviBf aarier. sbe. ao jog. . CHICAGO. Jan 21 The "Minneapolis Market Bsoero 7 eru yfl JJg Baittna fT1'l'fTTflTrri At the Great Western Railway ilotel, Paddington, yesterday an inquest was held by Mr. Danford Thomas, coroner for Central London, concerning the death of Robert LCir Gcogbegan, 35, a journalist, of Barnes, who was one of the five passenger killed in the railway collision at Slough on Saturday. There were present, on behalf of tho Grrat'Westera Itailway Company, Mr. J. E. Bowcn, of the solicitor's department, Mr. J. L. Wilkinson, general manager, .Mr. Allen, superintendent of the line, and Mr. Hart, divisional superintendent In opening the inquiry, tho coroner' mentioned that Mr. Geoghegan died inimediately after his reception into St. Mary'.s Hospital, Paddington on Saturday. Evidence of identification having been given by the dead man's father - in - law. Mr. Bowes, on behalf of the company, repeated the assurance ho had given at Slough as to the deep regret of the directors at tho disaster, and their sympathy with tho relatives of the killed and injured. In every case of accidents such as this tho question of criminal re sponsibility arose and questions would also arise as to the liability of the company. The company accepted all responsibility and would sec that proper comjiensation was paid: not only to the relatives of those killed, but also to the injured. The Coaosrjt read a. certificate put in on behalf of the driver of tho train, to the cilect that tho driver was not in a fit state to attend the. inquiry that day. He added that an amount of evidence would bo called, and that the jury would have to put aside the reports they had read in the newspapers of the disaster. It would be the duty of the jury to inquire as to whether the signals were against the express, and whether, if .they were. (Ley received proper recognition from the driver. William Janett, guard of the first train, said that it left Paddington seven minutes late jon (Saturday. The first stop was at Slough which was reached at 1 37; The train was eight minutes late at blough, and tickets were collected there. The collection, usually took two minutes, but cn Saturday it took longer on account of the large .number cf passengers. The train was just about, to start when he late the express coming. He only saw it when it wat 30 vardt oil. The Co&ONEU. You did not expect the express you expected the siguals would be against it until your train had gone ? Witness. 1 did uui expect the express to run into us when we were standing in the station. Answering further questions, the witness said the train w..s full, lie should think there would le about 5.00 passengers in it. They were due out cf Paddington at 15 and the express. at 115. It was usually a very punctual train. The putting on of an extra carriage at Paddington caused its delay. If it had not leen for this, the tram would have been well away from Slough Lef ore the express arrived. The 'usual number Cf carriages on the train was five, but on Saturday it had eight. In answer to Mr. Bowen, .the witness said that the 1 5 train runs down equally as fast to Slough as the 1 15 express. There was the same interval between the trains at Slough as when leaving Paddington. There was ample, time to allow the 1 5 tu get clear from Slough under nrdinary circumstances. The amount of luggage at Paddington and Slough was large. Richard Kelly, guard of the express, said that that train left Paddington at 1 16 (one minute late) on Saturday. Th train . was composed of ten carriages, first, second, and third. The driver was Henry Woodman. The first stop wad ordinarily at Beading. So far as be knew Woodman was all right on Saturday. When tho witness wat not otherwise occupied he looked out at the signals sometimes their duties in the van prevented th guards from doing this. The driver and the fireman were responsible for the signals, not the guards. The CoitONsUt. When the driver applies the vacuum brake you have knowledge of it ? Yas. 1 should know at once. I should see the indicator and feel the jar on the wheels. It would be impossible for me not to know Continuing, the witness said that the express was full when it started. It ran very nearly to the home signal at Slough without a chock, When n earing the Slough home signal the vacuum brake was applied, loo Slough distant signal was passed, but he did not notice it. The train was sot checked there. The Colioxiit. Is it a habit to run past the distant signal when it is against yon, thinking that the home signal would be in your favour ? All signals are taken notice of, the distant as much at the home. Tho Coboxxb. You are sure of that ? Yes. If the distant signal bad been against them be would have expected thu driver to put on the vacuum brake. Continuing, witness said that when be heard the vacuum brake put on near the home signal he looked out and saw the signal at danger. - Tho vacuum brake could pull a train up, if the metals were favourable, in about 400 yards. If this train had bad the vacuum brake applied at the distant signal it could easily have been pulled up before Slough Station was reached. The train was travelling at 50 miles an hour ; the putting on of tie vacuum brake on this occasion reduced the speed of the express from 50 to 20 miles.. The witness was in his van at the time of the collision. He was not injured. Mr. Bowen. Your duties a guard are primarily to look after the lag gage and the .mails, and with regard to signals, not to be responsible for them, but to be generally alert in regard to them ? Yes. Replying to further questions, the witness said that so far as he knew the vacuum brake acted throughout the train. . . A juror. Wc have heard stones about the vacuum brake failing to act. Mr. Bowen. That is not so. Oliver Penn Foxels, porter at Slough, deposed to see ing the express coming on to the station when it was about 250 yard oil. it. seemed to be coming at a great speed. lie could hot see the distant signal ; the home signal was at danger. He called out to the passengers in the stationary train, which was standing in .the station, to jump out. When the collision occurred, the express's engine did not leave the line.. Assistance was rendered to the passengers at once. It was net a straight run from the distant signal to Slough Station, and the driver of the express could net have seen the 1 5 train standing in the station. Harold Nutt, one of the medical officers at St. Mary's Hospital.Faddingtcn, said that the deceased was admitted to the hospital on Saturday in a moribund state. He died soon after admission. Death was due to concussion of the brain following violence. The witness added that all the other patients from the collision in the hospital were doing well, except Dr. Clark, whose condition was not all that could be wished. William Wardell, signalman at the East - box, Slongb, for 3 years a servant of the - Great Western Railway, was then called. He stated that be remembered the 1 5 arriving at blough on Saturday. The Dolphin signal - box was about a mile. and a half nearer London than his box. The 1 5 drew up on the main line at Slough. The home signal wat immediately put to danger ; the 'distant signal had not been taken orf danger for this train. He was aware of the express's time for arrival. The home aifnal after havinc been taken off danger to admit the 1 5 Windsor train to Slough Station wat put on danger again to bar the express. The distant signal had not been taken off at all. The Couoxra. Then both the distant, and home rimals were acainst the express ? Yes. The CoiiOsxb. Are you tore ot that ? Yes, I an sure of that. ' , Mr. Bowen. Any train standing in your (Slongh) ttation is protected by. ordinarily, four signals ? xcs, two at the Dolnhin and two at the home. Answering farther questions, the witness said that in answer to the question, ' It line clear?" from the Dolphin box he gave the signalman the warning that the express might proceed "slowly past the Dolphin and stop at the home signal. .The express must have been stopped dead at the Dolphin, and the warning given verbally. Mr. Bowen hero read the Board of Trade regulation with recard to signals When the enrine driver flndt the distant signal at danger he must reduce speed and proceed cautiously towards the home signals" The witnex thought that th express was; according to hit s i gusl , proceedln g to the home signal under his warning. The next thine he saw wat the express runninr vast Lit box. fie tried to draw the attention of the station officials when be saw the train rrmninr rjast "his box. ;It wat iatitlt"""tT'r t between 20 tnd 30 miles $alwn:Ea hit red flac.but could do nothins. He heard the driver of the express revertin; hit engine when be wat passing ua musu i rxrx. William John Cbenev. mat of tho nrerioux witness, corroborated bit evidence as to the rignals being against w express. Me rtrnembered tie wfgrning beg sent to the Dolphin box, for the exprea to be stopped dead there, and then to be allowed to proceed cauUooaly. At l. ' 1 I i .. ... . . . I t r ni dux no intimation wat received I rem ine xjoipcm that tho express had passed there. William Charles Col born, signilrnaa at the Dolphin box (which is a little over a male from Slough Station), aaid that he was on duty on Saturday. He remembered the 1 5 Windsor train nmnfng through to Blough. The signals for it were aU right. When tho time came for the 1 15 express, to reach hit box be asked the East box for the signal for it. He did .not get it, and later on, on notifvinr th Ijut hoi fthn om nearer Sloufh than hi own) that the express was approaching, he received from the East box the warning which told, him to stop the express dead and verbally tell the driver that he might proceed slowly. Both his signals were at the time at danger. He turned round to book something and then he heard the express rush past hit box. The COUOXIUI. I that , usual P No, I have never known it before. The. train wiM have stoooed dead and shut off steam, afterwards prccrxsling cautiously to Uie nome signal. Tho witness said that an serin? the express dash past he immediately rang up the East box on the telephone there. He did notify them train on line " on the telegraph instrument, but that would not indicate to the auui uox mat an thing was amiss ,as tae signalman merci would naturally think that the express wat proceeding cautiously under the warning. It. wat unusual for. him to' be delayed on the telephone. cignaiman warden, recalled, deposed tsat fie aid not bear the telephone call at the East box. lienry (Janu, Crenian of the express, said that ne was with Woodman, the driver, oh thu engine on Saturday. The express travelled - at between 60 and 60 miles an hour. The witness w - as firing at the time the Dolphin box was reached, and did not see the signals. He did not recollect passing the Dolphin. As a rule the express went past the, box. After the Dolphin were the distant, and home signals for Slough. When the distant signal was rcacned no thought it was at danger, and on looking back after the signal had be passed be taw it wat at danger. He then looked towards the home signal and found that it was at danger. Ho shut off steam and put on the vacuum brake at once. Woodman was at the time standing 'on the foot - plate looking out. The brake was nearest Woodman. He could not tell why Woodman did not touch the brakes At tho moment when he himself put on the brake Woodman reversed the engine. He could not then see tho train standing in Slough Station. In reply to further questions the witness said he had no doubt that when the vacuum brake was applied it acted properly, for tbe train diminished ia speed. Both the vacuum and the steam brake - were acting at the time, and the driver was also engaged in reversing the engine. He had never been obliged to stop at the Dolphin signal - box before, and had never previously noticed the signals against then! there. So far a bo was aware the driver did not know that the train before him was lata in leaving Paddington. He could offer no explanation of the driver bavins failed to observe the signals. He did everything in his power to stop the train. Mr. John Armstrong, locomotive engineer to the Great Western Railway, gave it at hit opinion that without the use of tbe brake the shutting off of steam and the reversing of the engine would not stop an engine going 50 or 60 miles an hour under two or three miles. He, however, had never heard of a vacuum brake failinz to set : if an accident occurred the brake acted auto matically. The brake would pull up a train going at tbe speed of this exprrss - in 500 yards. The CoHOXEJl. As a matter of fact have you examined all the brake apparatus on the express since tbe accident ? Yes. It was in perfect order ; nothing was wrour. James Crook, brake examiner, deposed to examining the brake of tbe express before it left Paddington and finding it in proper working order. Tbe inquiry was then adioumed until Monday, July 2, for the attendance of the driver. Baron Rudolph von Koenig, who wat injured in Saturday's accident, was reported last night to be going on slowly. Mr. Frank: Lisbon, another of tbe injured, is making - no progress, and - be' will le seen by Dr. Bonn, of the Great Western Railway, in consultation with Dr. Charsley. The other patients at Slough and Windsor aro doing well. The jewelry lost by Lady Torrington wa yesterday recovered by the railway company and will be restored to her. Tbe general manager of the company, Mr. J. L. Wilkinson, has sent a special message to Captain Arthur Turner, of the Slongh Volun teer Fire Brigade, thanking the brigade for the prompt way in wrucn tney turnexi not wnen tee collision, occurred and for the splendid work they did in extinguishing the fire and rendering aid to the injured. TEE TRAINING OF SEAMEN. RAILWAY ACCIDENT AT HAMPTON - COURT. A. somewhat serious accident occurred cn the London and 8outh - Western Railway at Hampton - court Station yesterday morning, by which a large number of persona were injured, though, fortunately, no lives were lost. Tbe train was an excursion train, leaving Hastings at 7 15, composed of 18 carriages of the London, Brighton, and South Coast Railway, carrying between 400 and 500 passengers belonging to the Hastings and St. Leonards Pleasant Sunday Afternoon Association, which it earned on in connexion with the ito bcrtson - street congregational Church, Hastings. The excursionists were having' their annual outing. The train ran on to the London and South - Western system at Clapham - junction and was there taken over by a South - Western engine for HamptonHampton - court, where it was due at 10 12. Just before the train was due there was a heavy downpour of rain, and when the train steamed into the ttation fire minutes late it was noticed by a few of the passengers, as well at by one or two persons waiting on the .platform, that, although the speed had apparently been slackened, yet the train was travelling into the terminus faster than usual. - The. result wat that the engine crashed into the sUp - block at the end of the station with considerable force, completely demolishing it. Most of the passengers were preparing to alight and wens standing up, getting their property down from the racks, when the train wat brought to a sudden standstill. The excursionists found themselves flung in a heap against' the divisions or on to the door of the compartments, many having their facet cut, their nose? broken, and sustaining contusicis. No explanation is offered by the officials as to the cause of the accident, though it It attributed to the failure of the brake to act and the slippery condition of the metals. Had there been any great way on the train a terrible accident might have happened, at only a wooden fence and a harrow path divide a backwater of the river from the stop block which the train ran into. Many of the passengers were elderly people, and by these the shock was naturally most severely felt. One of the excursionists, Mrs. Eennard, 60 years of age, wat so' severely shaken that she had to be removed to the East and West Molesey Cottage - Hospital, and three men Richard luce, George Thurston, and Henry Bigneil who were severely cut and bruised, were removed 'to the Castle Hotel. All the others were medically treated by Drs. Holberton, Hard wick, and Blunt, and the greater number were able to join those who escaped injury and to visit Hampton Coort Palace. The stationmaster immediately informed tbe head omcialt of the accident, and' Mr. Fay, superintendent of the line, at once went to the spot. Within an hour of the occurrence a breakdown gang had lifted the engine on to the metals and cleared the line. Between 20 and 30 complained to the stationmaster of injury and thock, but it it estimated that the total number hurt amounts to between 40 and 60. Several returned borne by the next train, and the telegraph office wat besieged by a crowd of holiday - makers anxious to forward reassuring newt of their safety to their fnesdt and relatives. All the injured reside .at Hastings except in one or two cases stated. The following is a list of those who complained of injuries : Mrs. Eennard, 60, severely shaken, detained in cottage hospital ; George Harman, 30, cut over right eye ; James Down, 13, cut over right eye ; Ellen Muggeridge, 44, cut forehead ; Frank Eldridge, 30, St. Leonards, dislocation right shoulder : Frederick Bartholomew, 13, bruise right cheek ; Richard Ince, cats ; George Thurston, 50, cut nose and temple : George Bead, 46, cut over left - eye ; Ellen Swayne, 32, cut over right. eye ; J. Fook, 35, Gueatling near Hast ings, cut over nose ; Frederick Beaney, GoestUng near Hastings, broken note, cut forehead ; Mark Crump, 19, Emma Cptt.Ore, cut onforehead.severeiy shaken : Litrie Morris, 19, domestio servant, William Foord, cut on forehead and broken nose ; Samuel Morris, 63, cut on. temple ; Mrs. Smith, SC, cut face ; Mrs. J. Marcbant, 46, cut over right eye : W. T. Stanley, 44, braised collar - bone ; Mrs. Emsleigh, black eye ; James Stanley, 70, severe cut on forehead ; Mrs. Southwell, bruised head ; Richard Piper, 47, St. Leonards, cut over eye; Bertha Jenkins, 23, cut over t ortbead .;; Mark Morris, 54, of Guestling, severe wound cn forehead ; Brett Woodcock, 19, cut on note and forehead ; George Richards, 19, cut nose ; Mrs. Maphan. 84, broken nose ; John Quinaell, 35, cut forehead ; Henry Bigneil, 52, cut over left eyo ; Alfred FJgar, 16, cut over left eye ; James Down, 13, cut over left eye ; George Reed, 19, cut under right eye ; Frank Elliott, 16, bruise - over right eye ; .Albert' Easton, 16, bnriscdbeadV vftTtdJJuae Tendem iKvrixD. - The Secretary of State for Foreign Affairs has received a despatch from her Majesty's Consul - General at Ciristiania. stating that the data; for the delivery cf tendert, ttTited by the Government Harbour Board at Christitnla for the supply of a ttesza Paternoster dredger lt been tatcridcd from V TrO - iru7 UUU At the Royal United Service Institution yirtterday after noon a large audience ,incioding many distinguished naval Officers, listened to a naner on The Traininr of Sea men read by Mr. J. R. TAartSelcL The reading wat followed with dose attention, and an intensticg discussion took place afterwards. Sir Gerard Noel, Sir Cyprian Bridge, arid Captain Atkinson, B.N., were heard ia favour of keeping up the training sqaadroa. Sir Michael Culme - Seymour. Sir N. Bowden - Smith. and Sir John Hopkins spoke on the other tide. Finally the discussion had te.be adjourned, the number of officers who ) wished to rreak being too Urge fcr them all to be beard in one afternoon. Besides those already mentioned there were present, among others. Admiral Sir' (Anthony Hoskins. who presided. Admiral of the Fleet Sir Nowall Salmon, the German Naval Attache, Gptain Prince Louit of Battenberg, RJT., Sir; John Colomb, M.P., General Sterling. Admiral Sir A. Boiler, and Admiral T. Le Hunte Ward, C.B. Mr. TrnrnjrirxD, who began with an apology for addressing a professional audience cn such a sub ject, - even at the request of the council of the institu tion, assumed at the outset that every one allowed sea experience to be an essential element in' the training of the fighting seaman. If. this were not so, the marine artilleryman would serre our purpose at well a the seaman gunner, with this advantage that he could be provided more cheaply. But a fighting seaman could not be trained on hore,and shore training could never make a ship's company work together. Therefore the seaman must be trained at sea. The next question was, How should he be trained ? The discipline of masts and tails had vanished from fighting ships. Nothing could restore it. But; ought it to vanish from the training of the fighting seaman ?. What bad to be done was to give the teaman thoso qualities which: the old masts - and - sails training was peculiarly fitted to impart the Qualities of self - reliance and resource, quickness of - ate, steadi ness of nerve, calmness and sell - possession in emergency, steadfastness in danger, helpfulness in all difficulties, and a Quick sense of conaradeshin. These qualities could scarcely be obtained from gunnery training alcne, or by boat - sailing, cr by any artificial means. For 250 years they were imparted with brilliant results by the old (Jan.. of teaching men seamanship in tbe widest sense cf - the word. Why were) we now to discard the emphatic teaching oi experience ? For one thing, it was argued that seamanship was not now an organic and itil part of the fighting seaman's training. For another thing it was said that the bluejacket had so much to learn now adays that there was no time to give him enough masis - anu - saiis training, and again it wat urged: that tbe cost would be too great. ADYA5TAGB3 OF MASTS AXI SAILS. Bat, on .the other band, there were decided advantages' to be gained by keeping to the old system. A very dbtinwishea officer, who is no advocate for retaining tho discipline of masts and sails, writes to me,?? Mr. Tbursfield said, " as follows : I served as - a lieutenant and watchkeeper in a ship of the last squadron practically worked under sail alone. I felt myself to be 50 per cent, more wcrth as a naval officer after, that two years experience. If it were possible to give every officer and man of the executive line a lir&ilar experience, we should possess absolutely the finest prrtonnel the world had ever known. Alas 1 thi is impossible ' ; and the writer goes on to explain why it is impoMillc. llis reasons are very cogent reasons reasons of organization, reasons of policy,. reasons of expense. Nevertheless they point, pernaps.to difficulties rather than to impossibilities. We can have absolutely the finest pertonnd tho world has ever seen 'if we choose to pay the price fcr iti It would be a very high price. to iay, no doubt. It would tax us heavily in organization, in pertonnel, and in purse. But is any price too high to pay for such a result ? I felt myself,' says my correspondent, ' to be 50 per cent, more 'worth as a naval officer after that two years' experience.' If by an: increase of 10 percent., or even 20 per cent., in our expenditure we increased tho efficiency of our pertonntt by 50 per cent., should we not be largely the gainers ? After all, it is not the gun, but the man behind the gun that wins the victory. Make every man letind the guns of the British Navy 60 per cent, a better man, and you double the strength of the Fleet." ;As to tho " impossibility " of which his correspondent spoke, Mr. Tbursfield said he could hardly accept the word, sineo Sir Gerard Noel had shown how it could I made possible. As to tbe effect of drill aloft on men) who were learning to shoot, the lecturer quoted some figures supplied to him which showed that of the men training at Whale Island in April last for the rating of gunnery instructor 41 per cent. had paaeu through tee 1 raining squadron, and oi men under training for captains of guns 42 per ceat. At only 30 per cent., of the seamen class in the Navy had of late years passed through the Training Squadron, these figures showed that the proportion cf good gunners from the Training Squadron was decidedly higher than among men who tad not passed through the Squadron. Drill aloft might not make a man a good naval gunner, but experience of the sea did, and nothing else could. If this propoiitioa was not self - evident he could offer proof loi it. There was at least one case known. to him of a marine artilleryman, the best shot in his corps on land, who at sea, when he had to fire from a moving platform at a meving target, could not even pull the trigger. OTTICKBS ASP TUB TKAIXISO SQCADBOSV The testimony of officers was largely in favour of the old method. Many young officers went to the Training Squadron feeling that they would sooner have i had something better.: But; many left it with the conviction that they had learnt something which nothing else in their sea experience had taught them, and what they had learnt their men had learnt also. The sea and its teaching.' counteracted the modern tendency to turn a bluejacket into a machine and helped to make him what Ladjsmith showed him to be, the. handy man of the Empire. When the tradition of masts and sails train ing was extinct, and the discipline abandoned, would the handy man survive ? To keep up such training for all boys entered in the Boyal Navy would not necessarily mean extending tbe period of training, but it would cost a great deal ot money. This, however, would be cheerfully provided by the taxpayer if he were assured that it was the best thing for the Navy. Another difficulty was that a very large number of officers weuld be required. This was, again, however, merely a question of money and organization. It would certainly.be good for tbe officers. Indeed, many people were more concerned at the probable effect, of the disappearance of drill aloft on the efficiency of the young officer than they were at the probable effect on the efficiency of the bluejacket. There was no training like sea - training for the man who had to fight at sea, and drill aloft wat sea - training at. its best. It wa tree that the sea - trainingtraining in eye and nerve, in endurance and initiative, in readiness and resource, to be got in a destroyer or torpedo - boat was for the officer, if not for the bluejacket, about as good si it could be ; indeed, it was little short of a providential dispensation that torpedo - boats and destroyer should have come into being just at the time when masts and sails were, at fighting appliances, disappearing into the limbo of the past. For this reason, even if. torpedoes were themselves to follow masts and sails into the same limbo, it might very well be doubted whether it would be wise to give up torpedo craft as vehicles fcr the sea - training of young officers. But the advantage of masts and sails even over torpedo craft was that they trained bluejackets in doe proportion to their officers, and that they trained both, as nothing else had yet been found to do so well, in that spirit of comradeship, of mutual trust and understanding, of skilful command and ready obedience, which, in all organized bodies of fighting men, was the very pith and marrow of fighting efficiency. I had the happiness to command a band of brothers," said Nelson of hit captains at the Nile. What Nelson said of his captains, every officer should be able to say of the men under , hit immediate command. ' That was the perfection of fighting organization and efficiency alike on (sea and. on land. " And yet I doubt,' Mr. Tbursfield continued, "if any naval officer here present will say .that a modern warship gives at many opportunities of attaining that perfection in the course of a whole 'commission as the' normal conditions of a ship under sail at sea afford in almost every watch. It may be that the conditions of the modem naval service forbid us to seek this inestimable advantage, at any rate, by tbe methods which have so far secured it. But let us be quite sure that we get it somehow, and let us clearly understand how much we are sacrificing if we resolve to go without it. There is such a thing, as the German proverb reminds us, as pouring out tie child with the bath water." THE SXW CONDITIONS OT NATAL WAST AST. In conclusion, the lecturer touched upon some of the larger historical aspects of the question. There bad been two great revolutions in! naval warfare. The first wat wnen oart were superseuexi or bus . ua secoua. when sails were superseded by steam. The first revolution transrtrTed the centre of naval gravity from the Mediterranean to the Atlantic Steam was not unlikelv to traaafer it' to the far larger and more distant: areas of the seas. which washed tbe shore of Asia. Africa. America, and Australia. Unless we took careful; thought, we might find others getting in front of us in the mastery ox te new problem wnica now presented itself. The enlarred dominion of the teas would: in the end belong to the Power, which had best mastered the secret ot the new era, which had best adanted the art and method of naval warfare, and. above all, the training of the fighting tesrnsn for, titer all, war was essenuauy an anair oi men, not oi machines to the vast changes which had brought us from the Victory to the . Formidable. Were we as well equipped to understand and take advantage of the second revelation as Drake, Howard, and their comrades were to understand; and take advantaze cf the first ? They understood the secret of the sea as no men had ever understood it' before : the occasion found them ready to take advantage cf it, and the British Empire' was the legacy of tiiir rraUnding no lest than ef the valour it directed and Informed. The valour, was ours still, as sturdy as ever the sturdiest in tbe world. Bt whether the understanding was tasted with it; in an susoeistion as close and vital as that widen gave tae old sea - dogs their strength was more than any man could tell until it was put to a procf as searching as theirs. The sea was; once more weroemd - mg its riddle . in new sad: ttraor Isruruxge. never yet fully interpreted by war; to more nations oi the earth than ever before .sought or cared to read it. The dctninioncf the seas would the lonz run assuredly he the prize of those who could read it aright and read it best. If that prize was not ours. " farewell might, ' as . Rsleitn . said. Bat none cosUretd Has yet. u ittaxa read srwrtfrne. br tttt 'HtM t eaice and actioTi. We xo&at ell read It as best we trdsM by tbe light of barf thinking and of rational practice founded on both. The prohlera how to develop uiaiitlme skill out of extorBtiooa new to the sailer and nerer yeifnll tested by war bow to mould the crew of a raodcra warship into a ecmaum - - mate fighting canism was not to be solved by role of thumb, by tinkering here and there at a rocriiarstfil' saturated at every point with tbe tradition of masts and saBs and their diopline). The rale of thumb had bad it day. The command of . the world's f crces, of the forces of nature and those of socsty alike,would belong hmrlarth ta those who tmderstood them best and knew how U direct them moat akUfully, who bad brsrkjasnt bow to transform the power of knowledge Into the power of action. It was a far Krxian ircm tne discipline of masts and sails to the dominion of the seas Vbut history showed how diry their aaacoataon had affected the fortunes of tbe Britaah race, and at least srirgtsted that, il their final divorce was at InMd, it could not end in a mere dissolution or partnersnrp. We had to find a new mate for the mistress of the seas to wed her to the irOTr st4iSjnship as closely and as happily as she was wedded by our f orefathers to.the wooden Bailing ship. Enouid we sees wna wwuaw w find in the fruitful union cf power with taowledge, e should we content oorselres with a mere rnakeamfl and barren alliance between rtwrtine and the role of thumb? Aomtjlll Snt J. DAZJtTMTLZ - HAr said he desired t thank the speaker for the candid and earnest spirit ia which he bad addressed himself, to the qTjestioo. lie did not doubt that the discipline of masts and sails had resulted in the virtues and qualities which it was desirable to get into the seamen. He did not, however, think it was impossible to retain the discipline. There ware still, in 1S97, 2,200,000 tons of British shipping propelled by sails alone, many of the vessels being of Isrge size and taking long Voyages. In these ship there were, in 1891, 53,631 seamen, of wnora ,zoi were British, while in 1896 the proportion cf foreigners had increased, and there were 35,825 British and 9,663. foreign sailors. These foreigners wnora we were tram - in? were principally Swedes. Germans,, and Norwegians; Would it aot be more profitable for them to employ these resources in educating ugiisamen t ix tney could sco 3,000 boys yearly they would .soon increase the number of British seamen sufficiently to displace the foreign element ; and bo proposed that these 3,000 boys should, while belonging to tbe Navy, ta lent for training to the mercantile matins. Their' position would be trmilar to that cf the Naval Reserve at present : and the additional cost to tbe shipowner cf employing British see - men would be met by the retaining fee given by the Government for the instruction. Admiral Sib. Michael Cclmz - Sxtmocs congratulated the author of the paper, who had, while professing to be neutral, shown a strong bias in favour of masts and sails. Mr. Thursfield had said that the natural way to train men was to send them to sea in sailing ships. Surely, the natural way was to train men in the ship in wtien they were going to sail. . If there was anything in the arguments' which had been advanced, the seamen of to - day should be worse than those of the past. But his experience was that they were better. Ths crew of the Ramillies, the smallest men physically be had over commanded, were, in disci - : pline and seagoing qualities, good at any be bad met ; and be would ask. them to carry back their minds to the Crimea and to say whether tbe Naval Brigade at Lady - smith was hot in every way at good at the brigade m the old days. He did not say that the training wai perfect. Sir Geoffrey Hornby bad sugsrested that they should havo sailing snips to carry all the stores to the colonies and oblige all th Navy to serve in these ships. But there were very few captains and lieutenant competent to take out a heavily - masted ship.' Cries of "No, no.") Well, with snundemasted brig an officer was not allowed to go to sea at night. . As to the training cf the officers, be admitted that the Training Squadron was a benefit to the young officers, but it did no good to the men. He looked on the discussion that day as the last dying gasp of masts and sails. (Loud laughter.) AsttiSAL Sis N. Bownxs - Smith said that he had had the advantage of reading the paper and the interesting letters in The Tipm, and entirely agreed with Admiral FitzGerald that men should be trained in the ships in which they had to fight. He suggestedJvarious methods in which the efficiency cf the crews could be increased, and expressed his view that they might dispense, with some of the small ships at distant ports, which Were of no use in training men. - He was glad that the days of masts and sails had gone, never to return. Rear Admiral 8rs Gxsasd Noil agreed with every word of the excellent and valuable paper. In the service flcat most of the captains were beginning to find that their officers were not what they should be, simply because they were not seamen. He found all the speakers talking of masts and yards ; but that was only a small part of what they proposed. Masts and sails took them to sea, and of the sesv most of their men Vtipw too little. If masts were doomed it would be a poor day for the British Navy. He - hoped, if he ever nad to face an enemy, that he. would have some British seamen nTidr riirn i CAFrAlN ATtUNSON said he had commanded the' Training Squadron for two and a - half years. He bad joined the squadron with the feeling that it Was ah important command, but he left it convinced 'that he had never appreciated its importance. If training ships were valuable they should be increased in numbers. Tney had doubled the Navy of late years, and they should double the Training Squadron, (bear, hear.) Aimisal Sis John Hopkins said that the real matter was keeping the connnand of the sea. In the Mediterranean Squadron the ahips were at cea for only three weeks in six months. That was not what they wanted. Mnch had been said about the expense of running the ships at high speed, but there was no need to move about quickly. Readiness and resource could be gained - without masts and yards. Tbe new Training Squadron did not get the experience of the old days, and there was too much tendency to steam through the bad weather, and when they got through it to set tbe sails. (Laughter.) They should train the man behind the gun, who was the man who had to decide the question. Thev could get as good men without masts and sails as with them. Vice - Admtsal Sis Cttsxan Bsidgi advocated the old system of training. He men could not be trained in the very ship and with the very weapons with which they had to fight, for the ships of a few years ago were to - day as' obsolete as the sailing ships of the past. The great lesson they had to learn was that if they did away with a training squadron their ships must be more at sea. (Hear, bear.") The Chairman said that as so marry speakers desired to take part in the discussion it would be adjourned and continued on seme day next week. THE FAMINE IN INDIA. 1 J 1 i i Down to last night the Indian Famino Fund at the Mansion - house amounted to' 295,000, and the Lord Mayor was enabled during the day to make a further xnittanee of 12,000 to the Viceroy for relief por - rjoses. The donors yesterday included Mr. Thomas A. fann (second donation), 1,000 ; " In the name of Tfrm who fed the hungry ; all things come of Thee, and of Thine own have we given Thee," 500 ; St. Mary, VjiJanistow, 53 7s. Cd. ; Borirnernouth, per the mayor, 100 ; Free churches of Barntley and district, 60 ; Mrs. Porteh, 10 10. ; Tjrcmipmgton Church, 10 10s. ; Mr. C Rogers, 10 ; Mrs. G. Sinrnton,' 10; anonymous, 10 ; M. L - B. D., 100; Commander and Mrs. Tottenham (second donation), 10 ; Walsall, per the mayor (additional), 50 ; Mr. E. iL Stone, 21 ; Fore - street Congregational Church, Bridgwater, 29 lis. 2d. ; Coniston Q - urch, 17 ; Deal, oer the mayor, 33 Is. ; Castle Bromwich Church, 15 6s. lid. : Mr. P.'.IL Osborne, 20 ; Mrs. G. A. Clark, 10 ; Chobham Church, 15 ICs. ; Watford and neighbour&ood; (third instalment), per Sir H. M tick - mans worth Church collection). 35 : per the Daily Gleaner, Kingston, Jamaica (additional), 50 ; " Sister "Buxton), 10 ; and her Majesty's Customs Department, 162 2s. 6d. Some correspondence has passed between Sir M. kl. Bhownaggree, M.P., and the Archbishop cf Canterbriry - - - - with reference to the famine in India. Writing on May 20, Sir M. M. Ehownaggrte, after specifying various purposes for which money is required, taid'r " After long and patient consideration as regards the remedies for meeting a situation of so grave a character. I turn, my Lord Archbishop, to you as the one man in the kingdom who from his supreme position ran do more than any one else to secure trie mricn - needed help. As head of a Church the beneficence of whose operaiiixit - and whose resources for doing good are practically bormdless, I venture to. appeal to your Grace in this time of India's direful need to make a call moo this nation for scecour and relief. A day of . general prayer and intercession, to Le followed by a collection tn all the churches, would provide such a remedy. Divine grace thus supplicated would not be .withheld, while the donation of the religious mmded specialty called for . - from innumerable paljxt would result in a copious flow of that material help which would sensibly - mitigate the evils of this gigantic . calamity." The Archbishop's reply was as follows " Lambeth Palace, S - E.. May 22, 1900. My dear Sir, I am desired. br the Arenbishop of Canterbcar to seknowledge your letter of the 20th inst., with reference to the terrible distress caused by the Tesent famine m lridia His Grace wishes me to tar that ha ecnsideri that it is best to send all contribctiens for relief to the Mansion - house fund. Believe me. years very faithfully, EXJTST !. Brans, chaplain." 7 Sasbbtnghav CLCB.A. concert was chrea 6 the f - - w'efngVeTr. Club on Monday evening in aid of the Princess of Wales's hcspitai snip, a rmmnrr ca vui - knbwn performer gave their services and n excellent CTOCTamrae was provided. Miss ErartgehTin'Flcafesca sang Holxel's Jadis " and Vecaaao's " Ah I che asserts " with great charm, the Mfaces Bush were (mh) t drutin in duets br Harriett Younx and BrahmsndMiss Grainger Kerr ssnff Wnen dead lea vet fall" and "Tit the spring witasnfMees. Mr; Bter - refined singmg was displayed at its " and Bcrrrmarm Der lingr Maeiinlays refined smg best is Chopin's Bacchanal T4neaar trara.' and Mr. GregctT Hsst satTe aa i uxoaot of lVahmas " Es haar der Beir r and Gcraatf Tnomas's ' Le Baisex." Mis Fanny Daviea ajayed Scarlatti's " Allegro m is - - ano . Bcnsmam - r i - vocet als Pro - obet', wits esrydsite , taste, and Miss Clara: and Miss Marianae and Mr. C&arlei Copland, also l . - a it. : X" - W awwaawMaMBwatLei " - St.

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