The electrical characteristics of a steady-state negative DC corona discharge in a two-phase fluid (air with suspended cigarette smoke particles) flowing along a chamber with a needle-to-plate electrode arrangement were experimentally investigated. The two-phase flow was transverse in respect to the needle-to-plate axis. The velocity of the transverse two-phase flow was limited to 0.8 m/s, typical of the electrostatic precipitators. We found that three discharge current modes of the negative corona exist in the two-phase (air + smoke particles) fluid: the Trichel pulses mode, the “Trichel pulses superimposed on DC component” mode and the DC component mode, similarly as in the corona discharge in air (a single-phase fluid). The shape of Trichel pulses in the air + suspended particles fluid is similar to that in air. However, the Trichel pulse amplitudes are higher than those in “pure” air while their repetition frequency is lower. As a net consequence of that the averaged corona discharge current in the two-phase fluid is lower than in “pure” air. It was also found that the average discharge current decreases with increasing suspended particle concentration. The calculations showed that the dependence of the average negative corona current (which is a macroscopic corona discharge parameter) on the particle concentration can be explained by the particle-concentration dependencies of the electric charge of Trichel pulse and the repetition frequency of Trichel pulses, both giving a microscopic insight into the electrical phenomena in the negative corona discharge. Our investigations showed also that the average corona discharge current in the two-phase fluid is almost unaffected by the transverse fluid flow up to a velocity of 0.8 m/s.