The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1860-02-07 00:00:00

Erne anti Comma.

Litictirritu, Feb. I.—The hosiery trade continues in •
healthy and satisfactory state. There are plenty of
orders in the market, and the operatives are generally
well employed. In the country district" also the same
satisfactory state of things exists. Wools are firm, and
superior qualities are realizing high rates. Yarns are
firm, and spinners continue well engaged.
NOTTINGHAM, hit.—The lace trade remains quiet.
'f his demand for the home trade has not yet set in, and
there is not much doing in the foreign department.
Business will, however, it is believed, improve in •
abort time. The Germans are purchasing to • slight
extent, and some of the Continental houses have been
doing a fair amount of business. The cotton (army trade
is dull. The silk department is not making any progress
towards improvement, still there are sanguine expecta-
tions in commercial circles that trade generally will in •
few weeks revive. In hosiery there is a good bminese
doing in many branches. The home buyen. who have
lately been in time ivarket have purchased liberally.
Yarns continue firm. . . . . .

SAL/AIME.- -Putting aside the gigantic size of the
eatablisliment at Bellaire, it exhibits so many other
points of interest that all who go to Bradford, or any
other neighbouring town iii thriving, fir-seeing. hard-
fighting Yorkshire, ehould visit it. The expenditure
which was ventured on, to econoiniae labour, to obtain
canupleteness, and to Maure the comfort of the 3,000
persons who ale engaged in the works, will surprise
many ; but the wisdom of it, even in a financial point of
view, soon makes itself evident. Our readers do Out
require to to told that the title which the mills and
rising town Lear gives us the name of its enterprising
founder, Mr. Titus Salt. M.P., and that of the locality
the beautiful valley of the Aire, in which it is built. It
is a joke against Prince Napoleon that in an account he
gave of the Paris Exhibition of 1S be pointed out that
Mr. Titua had exhibited some magnificent examples of
salt ! The place of which we are speaking is indeed a
magnificent exhibition of Salt, and it is to be hoped
that lie may long live to enjoy the honour it has deser-
vedly gained him. The buildings for the works cover 61
acres. The main range of buildings—a fine substantial
piece of work, fireproof, and highly creditable to Messrs.
Lockwood and Meweou, the architects—extend 550 ft.
lung, and 72ft. high ; and, as the top story runs over the
central entrance archway, and reaches the whole length
of the will, we get a I DOW 550 ft. in length —the longest,
perhaps, in Europe: and looking from one end to the
other, a fine sight it is. The weaving shed, however,
attached to the mill eclipses that in area, for here we
have in one apartment two acres—room to dine com-
fortably 7,000 persons. In the combing shed, of half its
area, Mr. Salt did dine 3,500 persons when the building
was first brought into use. Men, women, and children
are at work throughout the building; steam engines of
1,250 horse power collectively give motion by two miles
of shafting to 1,200 power-looms ; and when we add
thot the daily produce of these is 30,000 yards or 5,000
miles annually—in other words, that the length made
in a year and • half is more than enough to reach from
one side of our globe to the other, if there were a hole
theough the middle, the *kill, energy, and capital re-
quired to carry on such an undertaking will be strikingly
evident.— Botibkr.

TUX DRAIN or Buttdox.---The drain of bullion which
has distinguished the past month bus been remarkable
for its great rapidity; and during the last day or two
the Stock Exchange—which seemed for smile time
almost regardless of the movement—has taken fright.
A fall of nearly 2 per cent. in Consols, which now con-
statute the universal symbol of stability, is a portent
not to be neglected. The efflux, too, has evidently
taken the Bank directors partly by surprise, Wince an
advance of half itetr cent. in their rate of discount, and a
siinultmiettus side of about £400,000 of Consols and other
securities held by them, instead of being attended by
the slightest sign of • pteventive effect, were followed
by • crest increase in the intensity of the efflux. The
question, therefore, now is not whether another rise is
necessary, but whether anything less than an additional
advance of I per cent, will be of use. But supposing an
advance to 4, or even to 4i per cent, to be found neces-
sary, there need be no apprehension of inconvenience to
the general trade the country. 'the very suddenness of
the drain is in itself a guarantee that it will be short,
and will be succeeded by a reaction. It inlet be borne
in mind, likewise, that its apparent magnitude has been
increased by a circumstance which really has only a
saeming influence, namely, the payment of the divi-
dends. Of the diminution of 1:2,1.1UU,1110 in the Bank
bullion about 1400,1•10 may thus be accounted for, the
whole of which will gradually flow back in the course of
February. No dispute prevails as to the cause of the
inconvenience ; and it is well that this is so, since the
explanation generally accepted is by no means a discou-
raging one—namely, that we have bought an extraordi-
nary quantity of Indian securities, beyond even what we
can pay for out of our current trading profits, although
these are larger than at ally former period. Such a pro-
cess will probably find its end sooner than must people
expect. The desire for these securities will perhaps
have all the brevity of a fashion; but, even if this
should not be the case, the supply will be found to have
'ts. It is true the amount in India is about
Vi 0,000,000, but a very large vroportion of this consists
Id trust funds and sums held by banks and public insti-
tutions, while much of the remainder is in the shape of
those small investments the holding of which is rarely
induenced by any fluctuations in market rates. More-
over, the avidity shown for the stock on this side will
certainly excites feeling in India that they are parting
with something very valuable. Nothing quickens the
desire for possession of any article so much as the dis-
covery thxt somebody else wants it; and, while this im•
pulse may send up quotations in Calcutta, the present
state of pressure is producing a fall in London. Future
consignments of the stock will, therefore, most likely
bring a loss; and a little experience of that sort will
soon work all the change that is requisite. The distinct
Intimations repeated in Parliament a few evenings back,
that investors in these stocks must not fancy they have
any other security than such as is afforded by the Indian
revenue, will also have a wholesome influence in induc-
ing families, and trustees who represent families, to con-
sider well the extant to which they should commit
themselves. It may therefore fully be expected that a
revulsion will soon set in, although not before the Bank
has adopted measures of increased stringency. When
the tide turns it will perhaps be with great strength.—
Maischesser

A MANCIIIEWeen Corrofi•Miu. DIEFITHOTED IT FIS/L.
—On Thursday morning a fire broke out in the spin.
Mug-mills of the Hanover Mills Company, London-
road, Manchester. The mills are teo in number, an old
one seven stories high, and a new one, abutting against
the other, eight atones high, built on the tire.prouf
principle, the communication between the two being
cut off by • heavy iron door. The mills started as usual
at six o'clock in the morning with nearly 600 work-
people its the two buildings. The fire eommenced about
A quarter peat 7 o'clock, through the friction of a pulley
in the fifth story of the old mill. The flames spread
WWI A rapidity almost incooceivable but fortunately
the workpeople escaped without accident, and the
energetic manager lost no time in sending for Mr. Hose
and his fire brigades, taking InWII steps in the meantime
as were at his COMMAnd in the hope of arresting the
fiamee. These, I owever, Were quits- ineffectual, and
when, hallen-hour biter, the fire brigaies arrived, the
flames were bursting from nearly 100 windows in either
front of the old mill, and the whole building appeared
to be wrapped in a blaze. All Mr. Rose and his firemen
could do was to save the new mill and the engine and
boilers. In this they succeeded to a great extent, but
not entirely, the top story ilia roof of the new building
being destroyed. In little more than an hour the build-
ing in which the fire broke out was a heap of ruins,
floor after door giving way in quick succession before the
destroying flames and the great weight of inaelimery, and
dragging down the greater portion of the outer walls upon
them. The machinery consisted of £4 pair of mule spinning-
frames, averaging 650 spindle* each—total, 13,000; 30
throetle-I runes of 280 spindles each —total, 8,460;
making altogether, T 2,000 spindles. There were al.°
138 carding-engines in the building. The led upon all
this valuable machinery will be great, amid the entire
destruction by tile fire, including building, usachinery,
and cotton, will probably be from £25,000 to £30,000,
the greater part of which will probably be covered by
the insurances. This, however, will not be the whole
loss. The company were supplied with orders for time
I whole produce of the mill for upwards of three months
forward, and at a time like this, when the production
I of auch nulls is remunerative to an extent almost with-
out parallel in living vueininy, the loss, which no insu-
rances will cover, must be very great—probably not
under EA.1,000, in ailmiitioui to the sum above stated.
In 'etiolating the loss froni atoppage, is mud be uusud
Oast though the engines and boiler* are safe, yet the
machinery in the fir, proof imull 1111/AS have suffered great
damage through the water thrown in to put out the
tire when it had spread to the top story, and a consider-
able delay allied elapse before it will Ise in working order
again. As regards the workpeople, the loss to them will
probably be but of • temporary character, the great
demand for labour rendering it likely they will NAM
regain euiployment.
AN EMIGRANT Snip ON Fine.- The Endyinion, a
passenger ship, lying in the Mersey ready for sea, was
observed to be on fire on Tuesday morning. She was to
have sailed that day for New York, And had on board, in .
addition to the crew, consisting of about 30 men, about •
25 second cabin passengers, wally of whom were in
their bertha when the alarm WAS given. The fire seemed
to arise from the hold, in the forepart of the ship, and,
despite every exert' on the part of the crew, wemed
to advance with increase:it isge. The alarm having been
conveyed to shore, • number of hug boats went to the
scene to render assistance. The padengers and their
luggage were promptly brought away, and two engines,
with the fire-brigade, were embarked in two of the
Liverpool Tug Company's boats. The ship was appa-
rently ileinged with water, but the dames increased, and
the vessel was won enveloped in fire from stem to
skein. Captain flallett, her commander, deemed it
prudent to run tier ashore and scuttle her, which was
done without loss of time ; the receding of the tide,
however, made the scuttling of little avail, for she was
left comparatively dry, the water not covering the
breach made in her side. The fire then aeeined to have
taken A firm hold of the ship. About noon the fore-
mast fell overboard, and the fire continued to rage
1 during the arterimou, and it WAS feared that she would
he totally destroyed. The Endyinion was a fine ship of
1,374 tone, and owned by Mesas. F. D. and P. Sellers,
lof Liverpool. The passengers were forwarded to their
destination last Saturday by J. Foster, Jun. The ship
Minuend, but it is not known whether the ono was.

itatlbmg

.. •• .6 M.

LONDON AND 8013Tii--*/*- MM.

The adjourned special meeting of fibs Mara, wee
held on Saturday, the Mb .is., MU* Affeberloo-elsitieu
to consider the propriety of amalgamating the Pm*
mouth Hedvig *an
South-Western ViVrr4COZZytitron "Villithe bed
amditions of • deedricizi to be sealed by the SIM
umn—Pftnairman 4". .r•t!..! ••
The Ch stated at MOD ibe
the 14th ult. a vast deal of doom, link Mill
had been devoted. 44414444 16) „isttertreet
the terms at anudgemation. A
held on the preceding gay. wouLswitdealciuggiirta
legal gentlemen, with a view to
Meal mottoes in the wacilintalthe
been some modification of the terms as to matters of
detail, which would he ea.pLeined inlhe asesailed re-
port. The deed was not yet prepared, is ceasequenes
of some legal matters to Is
the directors would ask t meeting to ligilaii=vl&
authorising them to put the-seal to the deed when it
was completed.
Mr. L. Crombie, the meretary, reed the amended re.
port, wbisli inlintint4 tileOrnprietegmthOtiac grotweb
tion when they last met was that 4 per tient prifeream
shares, of £l6 each, were to he lacued bathe Porlamoisth
rhareholders, in exchange for their no shame, but it
was found that that arrangement could not be legally
carried into effect, and, consequently, they were obliged
to substitute annuities. The debentnre debt of the
Portsmouth Company was £92,000, which, at Ai c:
cent, per annum, would absorb £3,910 out of
£lB,OOO • year agreed to be paid for the Portsmouth
Railway, leaving I:14,000 to the credit of the share-
holders, and to pay off all liabilities. The modified
terms consisted sof issuing 114,01* annuities of 2s. 6d.
each, in lieu of the £lB,OOO • year. 31,280 of those
annuities would represent the £3,910 per annum to be
pail in respect of the debenture debt; 83,500 of than
sonuities, represeating LW Mg • year, would he Wood
. to the Portsmouth shareholders, being at the rate of
five amanitas*, or 12s. 64. for each of the 17,500 shame
in the Portsmouth Company; and 25,Z0 of *um ennui-
I ties, representing .0,152 a year, which at 25 yams' per.
chime would be equivalent to £78,812, would be getained
by the South-Western Company to meet the liabilities
of the Porninimith Company, which bad bees certified
to amount S. 14.113,000. When the whole at the liabili-
ties of the Portsmouth Company were disluirife4 the
plOrpillA would be divided rateably among the sham
holder' of that company. The amended report was
dated the Nth of January, 1860.
Thel hairman said the liabilities of the Portsmouth
Company were estimated at about £63,000, and they
retained £78,812 to meet them, but of the 263,000 he
should explain that £30,011) were debentures, leaving
the actual liabilities £33,000. In addition to the
£78,812, the balance of 1:9,600 of rent dus would be
added to it, waking 288,412, and leaving £58,412 to
meet liabilities of £33,000. The affairs mars DOW
brought into • narrow compass, and be limbered when
all the liabilities were paid, there would be eoluetbifill
left worth dividing among the Portman/4th share-
holders.

In reply to Mr. Iferapath and Mr. Tits. It was
Mated that the modified terms did not .gisistbs Ports-
mouth Company more than the £lB,OOO •
,Yssir, soot
would not yield more in any event than 310,essit.
the Portsmouth shareholders.
After some observations from Mr. Misting and lir.
Edwarda, a formal resolution approving Um amalgam&
two of the Portsmouth undertaking sin Alas dew* pro-
posed in the amended report was unanimosisVadopted.
On the motion of the Chairman. seconded by Mr.
The, A formal resolution wag unanimously wispard,
authorising directors to hone 144,000 annuities of
2s. 6d. each, fur the purpose of complying with the pro-
videos of the Amalgamation Act, and completing the
amalgamation of the Portsmouth Company.
Mr. Heraieth thought it important to know whether
they were now working in perfect amity with the
Brighton Company.
The Chairman said they were working in pubs
aunty with tha t ornupauy. Hear, hear.)
. . . . .

The proceedirip teriiiiitated with a v:Ole of thanks to
the elan-wan and directors.