A New Masonic Song.

our Anglo-Saxon forefathers , whenever they drank to each other s health . If it be true that Britons are descended from the Ten Tribes , the introduction of these words must bo held to have a very remarkable significance . Many believe that Masonry was preserved and handed down to us from the days of Adam through the Ten

Tribes . The fact of their having been lost or mislaid for a number of centuries in no way affects tho credibility of tho legend . Moreover , the circumstantial evidence is said to be very strong in favour of their being the connecting link between Adam and the present generation of Masons . There is clearly an hiatus between the two , and the Ten Tribes will probably supply it .

Money Market And City News.

MONEY MARKET AND CITY NEWS .

FRIDAY . Business has beeu somewhat slack this week , partly in oonsequence of the attention of dealers being absorbed by the usual fortnightl y settlement . There is still some strength , however , in prices , notably iu British Railway stocks , which command the major

portion of tho investments made by the moneyed public . That there is a degree of solidity about this kind of security , to which no other kind of industrial enterprise can lay claim , there can be no question , and that it evidently meets the views of the cautions English capitalist is equally beyond dispute . Railway profits do

not after all depend so much on the " bubble reputation , " which many people are led to believe , and which may at any moment burst . It will , we believe , be admitted by all , that railways are now a permanent necessity throughout the length and breadth of the land : it is also well known that they possess a virtual

monopoly , not only on account of the difficulties which Parliament has placed in the way of competitors , but also owing to the fact that of late years the whole country has been so parcelled out among a few great companies as to prevent any possibility of a rival making a good footing in hostile

territory . Virtually ' then' the increased future ^ profit derivable from the progress of this country will belong entirely to the existing undertakings , on the condition merely that ihey make adequate provision for their increasing business . What may be expected from the future can be best estimated , says tho Financier , from the fact

that thegross amountof rail way traffic has nearly trebled within twenty years , and is still , though subject to variations , increasing at a rapid rate . Circumstances may delay for a time the actual realisation by the proprietors of the benefits arising from this progress , but it should never be forgotten that while the causes of this delay

are transitory , the causes of progress are permanent . These considerations apply to railways at all times , but in addition to thom there are others peculiar to tho present moment , and which , though balanced to some extent by certain drawbacks , yet on the whole afford sufficient ground for believing that the current year will compare favourably with the past .

There has been no alteration in the Bank rate this week , and the return published last night shows an increase in the gold receipts of £ 201 , 696 , while the proportion of reserve to liabilities is 2 per cent , higher . The English Funds show no alteration , and a moderate business is

reported , both for money and the account . Tho usual notice has been issued , that dividend warrants can be forwarded by post on the proper form being forwarded to the Bank of England . The Foreign Market has been very quiet , but some descriptions are not unfavourably noticed . There are probably few instances of weaker

prices , although these are scarcely of sufficient importance to affect the general condition of the market . Much to the surprise of many people in this country , the Senate Bill has passed tho French Assembly by a good majority , which acknowledges tho Republic as the

only form of Government to be tolerated during the term originally proposed . Whether this measure will put an end to the political strife of " parties , " is not easily answered ; but this much may be said , that it is a step which ought to be fraught with many blessings to the nation at large , if accepted in the right spirit .

Railways we have already commented on at length , and there is little more to be added , except that the Great Western dividend has disappointed many people , although we ourselves consider that there is a large margin for increased receipts yet to be realised by this

company . We have faint hopes of seeing the abolition of the passenger duty forming any part of the reductions proposed in the Budget this year , fso that the different companies must look to their own unaided efforts to seoure sufficient revenue to satisfy their ehareholders .

Canadian and American securities are without any appreciable change , although in Hudson ' s Bay shares , and in Telegraphs Anglo-American are fractionally stronger . At the meeting of the Langhanv Hotel Company on Wednesday ike report of the directors was submitted , aud unanimously adopted . !

Money Market And City News.

Tho chairman , Henry J . Rouse , Esq ., in congratulating the share « holders upon the satisfactory statement of accounts that had beer presented , drew attention to tho fact that the receipts for the half , year ending the 31 st December last had exceeded those of any previous corresponding season , the return being £ 50 , 905 . Tho

question of selling railway tickets in tho hotel for the most important towns in the kingdom had been under careful consideration , and it was thought that an arrangement of this kind might be judiciously carried out with great advantage to the visitors who came to the hotel . The sum for division amounted to £ 15 , 202 , which included a

balance brought forward from the last account , and a dividend of 18 J- per cent ., free of income tax , would therefore bo recommended . From the success that had been achieved , it was fully expected that the Directors would have been enabled to declare a dividend of 20 per cent ., but , on further consideration , it was thought advisable to

defer doing so on tho present occasion . One feature of the business was of sufficient importance to be commented upon , viz .: that visitors were now in the habit of bringing with them children and servants , which largely augmented the returns . While these facts spoke for

themselves , the Directors entertained a firm conviction that while doing their utmost to maintain , and , if possible , increase the reputation of the hotel , there was yet a margin which would , it was hoped , permit of a further reduction in the item of expenses .

In the year ended the 31 st of March last , the number of detections of illicit distillation in England was 12 , in Scotland 6 , aud in Ireland 796 . In the preceding year there were as many as 1 , 035 in Ireland .

Garibaldi ' s scheme for the opening of a new seaport , to connect the Tiber with the sea , by means of a navigable canal , has been reported upon by competont surveyors and found practicable . The Italian Government undertook the expense of survey .

The number of post cards sold iu tho twelve months ending March 1874 was 76 , 986 , 246 , against 69 , 233 , 280 in the year 1873 . Some idea of the value of land in the City may be gathered from the fact that a site of some thousand superficial feet , known as 19 and 19 A Old Change , was this week let by auction at a rental of £ 330 per annum .

The number of persons who left the United Kingdom for places out of Europe during the year 1874 was as follows : —From England , 184 , 291 ; from Scotland , 19 , 775 ; and from Ireland , 36 , 948 ; making a grand total of 241 , 014 . In 1873 this was 310 , 612 , showin" - a decrease in emigration for the year 1874 of 69 , 598 . Of the grand

total for 1874 , nationality is thus distinguished : English , 116 , 490 Scotch , 20 , 286 ; Irish , 60 , 496 ; Foreigners , 38 , 468 ; and unknown , ' 5 , 277 ; the numbers for 1873 being respectively—123 , 343 , 21 , 310 , 83 , 692 , 72 , 193 , and 10 , 069 . Of the total number of passengers iu 1874 , 39 , 251 were cabin , aud 203 , 708 steerage .

At the annual meeting of tho Liverpool , London and Globo Assurance Company , tho shareholders were presented with a dividend of 8 s per share , and , at the same time , it was intimated that a

considerable sum had been added to the genoral reserve fund . In other respects the business had been most satisfactory , and tho condition of the Company ' s affairs was represented as being eminently sound and worthy of trust .

An action , damages being laid at £ 100 , 000 , is to be brought at the coming Manchester Assizes by Messrs . Ellis , Levers and Co ., of that city , against Mr . S . Isaac , M . P . for Nottingham , for breach of contract . The hon . member , who is a colliery owner , is alleged to have repudiated a large order which had been accepted .

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

Miles open , Receipts . Railway . 1375 1875 1874 £ £ Caledonian ..... 737 Glasgow and South Wostern . . 315 15 , 660 15 , 433 Great Eastern .... 763 41 , 352 40 . 244

Great Northern .... 517 50 , 231 49 , 340 Great Western .... 1 , 525 91 , 731 96 , 140 Lancashire and Yorksiiire , . 430 61 , 313 59 , 041 London and Brighton ... 376 22 , GGi 2 l ' , 426

Lonaon , Unatham and Dover . . 153 13 , 892 12 , 870 London and North Western . . 1 , 582 155 , 567 152 , 285 London , Tilbury and Southend . 45 1 , 358 l ' , 2 l 6 Manchester and Sheffield . . 259 29 , 705 27 , ' 15 Midland 944 insi-zK inn ' i . m

Metropolitan 8 8 , 722 8 , 235 „ „ District ... 8 5 , 007 4 , 268 „ „ St . John's Wood . 1 J 435 423 North British 839 39 . 061 35 . 496

North Eastern .... 1 , 379 117 , 292 112 , 993 North London .... 12 6 , 468 6 , 675 North Staffordshire Railway . . 190 9 , 784 10001 » » Canal , , 118 1 , 586 1 ^ 20 South Eaatora , , 350 35 , 94 , 5 35 , 177