The Express.
London, England, 1868-03-05 00:00:00

MARKET&

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at id. pot lb. ottomea MOlEsotog rho loglig, SAO
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the rates obtainable_ yesterday. There b a feeling bop.
ever, that the mete sad exoitemeat has, se og
that at.Uveepool, is of a speculative character, and that
but little of It arises from a boas Ids demand for say
description of goods. MINIM INKS and Heywoedoy
Liverpool. in their monthly circular of Monday mimed.
wort, with • good deal of tubes en the conduct of sekume
and mannfastarers which led to.the peat. !peculation ea 4
rise in cotton some weeks ago, end WILICb is now being
reviewed :—" To • great extent s inners have only theta.
selves to blame for the late inlation in value—for vs.n.
Wore did not enter the field until the major part of ebbs
admen bad taken place. Some adrenal upon the
rates current at the beginning of the year was quite
justified by the statistical position of the 'triple ; but
If spinners had only displayed that caution and demi.
spection which guided their dealings during the previous
year, we should neither have witnessed the intense en.
citement, nor the extraordinary advance, of the pag,
month. The mistake made by the trade wee, in acceptiui
large orders for forward delivery—orders which in the
majority of eases absorbed by anticipation the product,
of three or four months' work at full tinia, and *bleb
necessitated correspondingly extensive pruenues in Uge
market to cover, especially when it became apparent that
prices were tending upwards. No doubt after a lone
period of comparatively dull trade, during which they hi
almost in vain begged and played for orders, the blame.
tion to accept them when offered was too great to be with.
stead, w ally as they were offered at a time when the
current opinion on both aides of the Atlantic was that tha
American crop would be nearer 3 than 21 million balm.
Three months ago (Nov. 30), foreseeing the danger which
threatened the trade, we observed—' In view of the core.
paratively small supplies available for consumption for the
nut two months, spinners will act wisely if they reduce
their operations within es narrow limits ea possible both
here and in Manchester. Prim have fallen to so low a
point that the acceptance of contracts of any magnitude.
based upon the anticipation of a further considerable de.
cline in the value of the raw materiel, would be far mom
hlsardous than discreet.' Nor were we alone in oar ad.
monitions; similar advice wee heard on all aides; WI
strange to Nay, spinners and manufacturers were them.
selves among the loudest of the monitors. It is to to
hoped, however, that they will henceforth profit by the
lesson which they have received. Meet producers wif
often be compelled to take orders for two or three weeks'
production ; but they need not commit themselves to the
extent of three, four, five, and even six months, which
many did in December and January hat." Ileum Mee
and Heywood think it still premature to withdraw bee
estimate (and that of some other eminent houses in its
cotton trade) of a crop of 2,600,000 bales of cotton. In
fact, it is possible the quantity may be yet greater, sad
they see the advantage in the nee of price. that it will
prompt planters both in America and India to burry tam
ward their crops as feet as possible to the seaboard, while
it will stimulate production all over the world, and cam
the supplies for 1.869 to be much larger than they other.
wise would be.

CORN.—BoerroN, }Limit 4.—We had a am .11 supply
of wheat at our market to-day. Fanners held firmly far
late rates; what little wee done was at Ir. decline.
Spring corn slow, but no lower. Wheat, red, 7.k. to 7-o;
white, 75e. to 80s.; beans, 48s. to Us. ; oats, 21s. to As.
per qr.

CATTLE.--liounimm, MnacH 4.—The trade to-dly
ruled fiat, nevertheless almost everything was .01.1. hod
made from ite. to ss. ; mutton, 4s. to se. 4d.; lamb, 7s.
to ns. ; veal, 541. to ss. Bd.; pork, 3s. to 4s. Gd. per stowof Sibs., iing the offaL

COALS.—LoNDox, MARCH 4.—Compen Hartley,lss. 41.;
Holywell Main, 15.. tid. ; Walker Primrose, 110. ;
Wylam, 15e. 3d. ; Walls End Gosfortb, Tie. ; Klee
Main, 15.. Gd. ; Walls End BraddyiPs Hett(o, Ire.;
Walls End Haswell, 17s. 6d.; Walls End Hetton. 174.6 d.;
Walls End Helton Lyons, 15s. ; Walls End Haw.
thorn, 15s. 3d. ; Walls South Hatton, 17s. 3d. ; Walls
End Hartlepool, 16e, 6d. ; Walls End Hcegh Hill;
16a. 9.1. ; Walls End Kelloe, 16s. ; Walls End E e.t. Hartle-
pool, 171. ; Walls End South Keno., 16e. 91. ; WAlle End
Tees, 17s.—Ships at market, 46 ; sold, 35.