Our Weekly Budget.

in March next . Among those present on that occasion , were Bros . F . Kingsbury , Ed . Murray , J . Willing sen ., Johnson , J . Willing jun ., and G . Murray . Bro . C . W . Thompsou is the Hon . Secretary .

His Excellency the Italian Minister , accompanied by Bro . Sir Michael Costa , Raphael Costa and several other gentlemen , honoured Bro . Fred . Godfrey ( 1257 ) Avith a visit to hear the rehearsal of a Grand March , composed by Sir Michael Costa at the express command of his Majesty the

King of Italy . At its conclusion the distinguished visitors expressed their satisfaction at the efficient manner the hand of the Coldstream Guards , under the leadership of Bro . Fred . Godfrey , had realised the views of the talented composer .

Hotiowis ' s OrxlMEXT . — Soros , wounds , ulcerations and outer diseases affecting tucskin are capable of speedy amendment by this cooling and healing utiguent , which has called forth the loudest praise from persons who had suffered for years from bad legs , -abscesses and chronic ulcers , after every hope of euro had long passed away . Koue but those who havo experienced the form idea of the coiutort it bestows

soothing effect of this ointment can an , by restraining inflammation and allaying pain . AVhenever Holloway ' s Ointment has been onco used it has established its own worth , aud has again been eagerly sought for as the easiest and safest remedy for all ulcerous complaints . In neuralgia , rheumatism and gout , tho same application , proporly used , gives wonderful relief .

Answers To Correspondents.

ANSWERS TO CORRESPONDENTS .

All Letters and communications must be addressed to the Editor of THE FKEEJIASON ' S CHRONICLE , 67 Barbican , London , E . G . P . Z . —We think your ruling just . The candidate , proving ineligible , the proposition falls through , ipso facto .

URGENT . —Why apply to us ? You must go to tho Secretary of the R . M . Benevolent Institution , and you are sure of a courteous reception from Bro . Terry , who will give you any information in his power . L . —There is considerable doubt about the point .

Money Market And City News.

MONEY MARKET AND CITY NEWS .

FlUDAV . It has been found necessary , under existing circumstances , to raise the bank rate to 3 J per ccut . this week , the general condition of the money market having shown the Directors of the Bunk sufficient reason for tit once taking steps to strengthen their position . Along with

a demand for gold for the continent it is known that speculative operations arc at work in New York to force up the premium and create a scarcity of money , thus attracting specio from this country . So far the markets here have taken to the alteration very quietly , and , indeed , it Avould appear as if the change had

already been discounted . This is the chief point of interest this week in linaucial matters , except , perhaps , the publication of the regulations in tho Spanish official journal for the pay . mont of the over-due coupons of the external debt of the country . On the strength of this announcement , the investing public

are beginning to look more kindly on Spanish stock , and as there also appears to be some grounds for hoping that the difficulties surround - iug Turkish issues may be removed ; theso securities are beiii" - inquired for . While dealing with these obligations as speculative investments in what we may call despised securities , which aro

sometimes profitable to the buyer , we may remark that success iu making speculative' investments depends in a very great measure ou the time at which such operations are entered iuto . Sometimes one class of securities offer tho best opportuuity , aud sometimes another , and it is of course when any ono particular class is much depreciated in

market value , that speculative investments therein have the greatest chauce of turning out profitably . Purchases having for their object the securing of a large profit by a rise iu prices within a moderate space of time must be made when the prospects of tho stocks appear to be very bad , when every one is selling , and when prices are in

consequence forced down to an extreme level . It is necessary even for buyers to act as it were in the dark , aud without any further motive than the fact that prices have fallen much , and for a certain period continuously . We do not ' meau that tho public should buy merely because prices are low , and Avithout knowing anythiug of the

merits or position of a stock . An acquaintance with all its poiuts is desirable in all cases . But it is better for the buyer to act in the dark as regards the immediate course of market prices and sometimes even against his opinion as to what may appear to be the more

probable tendency of valuc 3 . It is evident sometimes , that even although a stock may fall temporarily to a still lower fi' -nro than that actually quoted , a recovery of substautial amount is inevitable before lung . The immediate course of prices must , in auy case , be

Money Market And City News.

very doubtful , but the probability of a decided recovery in a short time is very great , and occasionally it is as nearly a certainty as anything can be . The speculative investor then , who is not anxious as to the course prices may tako immediately , provided that by tho end of a certain time au advance shall take place , shonld buy whou

things appear to be at their worst aud when quotations havo beon depressed for some little time . The English Funds hare been quietly supported , and are quoted at much the same rates as last week . Home railways show a good market , although the tendency at one

period pointed to weakness . Whether or not the passenger-tax will be dealt with in the coming Budget , is cansiug some discussion , which may eventually lead to higher rates ; in the meantime purchases are being made to close speculative accounts , In tho foreign market operations havo progressed but slowly , the

feeling of uncertainty being assisted by the unsteadiness of the rates of exchange . Two of the stocks we have already ref erred to as being in some demand , viz . —Turkish and Spanish . American and miscellaneous descriptions maintain a very dull appearance , comparatively few bargains being entered iuto .

Garibaldi ' s project of a canal from the Tiber to the Sea , has , it is reported from Rome , been so far approved of by tho Italian Government that the preliminary survey is to be made at its expense . At a special meeting of the English Channel Steamship Company Limited ( Dicey ' s Patent ) , it was agreed to raise £ 16 , 000 ou

debentures , to finish tho vessel , and equip her for sea . The directors say they are perfectly satisfied with the recent trial trips , and they have shown their confidence in the ultimate success of tho Company by subscribing for £ 10 , 000 of tho £ 16 , 000 debentures . The Stock Exchange Avill be closed to-morrow ( Saturday ) to

enable the architect to carry out certain necessary repairs . In the half-yearly report of tho Great Northorn Railway Company , the directors call attention to the fact that they have docided not to discontinue the use of second class carriages . The wishes of the public so far as they have been expressed appear to be in favour of

retaining three classes . In committee on the Bank Holidays' Act Amendment Bill , Sir John Lubbock Avill move the insertion of a clause to the effect that whenever tho 26 th day of December shall fall on a Sunday , the Monday following , that is to say , the 27 th December , shall be a Bank holiday .

With regard to the great lock-out of miners in South Wales , it is stated that many of the men have migrated , and that those who remain exhibit no signs of giving in . The report of the Langham Hotel Company Limited to the meeting of the 21 th inst . states that the busiuess transacted duriti "

the past half-year represented £ o 0 , 90 o , aud that the total available balance for distribution , including tho sum of £ 7 , 03 S brought for * ward , is £ 15 , 202 , out of which it is recommended to declare a divi-. dend at the rate of 18 i per cent , per annum , agaiust 17 . V per cent , per annum at tho corresponding period of last year ; and to carry forward £ 7 , 257 .

Wo arc glad to see that the Government contemplate bringing iu a Bill this Session to provide for the Registration of Trade Marks . Wo presume that the Bill will be identical iu principle ; if not in detail , with that prepared by the Board of Trade , and brought in by the late

Ministry in 1873 , but not proceeded with . The Associated Chambers of Commerce , owiug to pressure from whom tho last Bill was brought in , have not bceu idle during the interval , aud it may , bo that representations cmanaling from them have caused some alteration in tho details of the proposed measure .

Tho following statement shows the receipts for traffic on the undermentioned railways for the past week , as compared' with the corresponding week in 1874 : —

Miles open . Receipts . Railway . 1875 1874 1875 1874 & £ Caledonian ... . 737 731 50 , 708 40 , 699 Glasgow and South Western . 315 315 11 , 881 14 , 558 Great Eastern . . . 763 763 39 , 563 37 , 741 Great Northern . . . 517 513 4 y , G 89 45 , 615

Ureat Western ...1 , 525 1 , 502 90 , 541 92 , 763 Lancashire and Yorkshire . 430 428 61 , 886 59 , 782 London and Brighton . . 376 376 22 , 152 21 , 748 Loudon , Chatham and Dover . 153 1 S 8 14 , 587 13 , 093

London and North Western . 1 , 582 1 , 577 150 , 201 141 , 422 London , Tilbury and Southend 45 45 3 , 456 1 , 439 Manchester aud Sheffield . 258 258 29 , 270 26 , 568 Midland 944 883 103 , 919 94 , 51 . 2 Metropolitan .... 8 7 J 8 , 758 8 , 214

„ „ District . . 8 6 i o , Uia 4 , 280 „ „ St . John ' s Wood . 1 } l i 433 427 NortlrlBritish .... 839 820 37 , 333 35 , 623 Xorth " Easteri ) .... 1 , 379 1 , 379 126 , 796 117 , 899 North London .... 12 12 6 , 578 6 , 291 North Staffordshire Railway . 190 1 S 3 9 , 596 9 , 11 G Canal 118 US 1 , 660 1 , 491 South Eastern . . 350 347 26 , 224 24 , 712

CLUB Horst ; PHAVI . VG CASUS .- —AIn «? ul Quality , picked Is 3 d per puck , ] fa per dozen packs . Do . seconds K -, " . ¦;• puck , lis pci- dozen packs . If by ¦ > ost Hd per pack extra . Cart ' . * f . n- J' ' c ; u ? . " Hoiuquc , Ecartd , Ac , Mogul On . ilif . y lod pot pack , Bs por i ! d .-... | . p .-. y . 'iis . —London : W . W . Morgan , " ~ Barbican , KO . D K L . I Ecu ' s IjriKBx . iiiov . u . Pt . vs . 'Ti- i "'> " --- Tcrtniits of the Foy- 'dt v of Europe . Tost free , is ( id , W . \ Y , Sfcrgnn , e 7 Tj ... jicau , Loudau , E . y