expedient to endeavour to express more clearly a law which must annually be set in motion in hundreds of cases. FUNDED MUNICIPAL DEBT. =Source.=--_The Times_, September 2. A subject of great interest was discussed at yesterday's meeting of the Liverpool City Council. In seconding a recommendation of the Finance Committee that the settlement of the prospectus and terms of issue of the first £2,000,000 of stock to be created under the Liverpool Loans Act be referred to that Committee, Alderman A. B. Forwood explained that the Bill had now passed both Houses.... It had been a very difficult and intricate matter to get the Bill through, because the Liverpool Corporation were the first in the kingdom to obtain powers to fund their debt in the way proposed. He believed that, when the new water scheme was passed, the new mode of raising money would materially reduce the cost of money to the town, and would effect the saving of £25,000 to £30,000 a year. The stock would be put in exactly the same position as Consols. ELECTRIC LIGHT, THE TELEPHONE, NEW HOTELS. =Source.=--_The Times._ _January 5._--The last American mail has brought us interesting details relating to the progress made in manipulating the electric light. Pending the researches in which Professor Edison has for a long time been engaged, it appears that his laboratory at Menlo Park was practically closed to all strangers, until the young scientist should have arrived at a point to enable him to declare that complete success had attended his final efforts. That point has apparently been reached.... The steadiness, reliability, and non-fusibility of the carbon filament, Mr. Edison tells us, are not the only elements incident to the new discovery. There is likewise obtained an element of proper and uniform resistance to the passage of the electric current. _April 10._--Several chambers in the Temple will shortly possess the advantage of having communication by telephone with the Law Courts at Westminster and the Houses of Parliament. The telephonic apparatus is at present being laid down between the Temple Gardens and Westminster Hall, the Metropolitan District Railway being utilized for the purpose. The apparatus, after having been connected with several of the chambers and offices in the Temple, enters the underground railway line, which it is carried along, immediately under the crown of the railway arch.