The Express.
London, England, 1850-01-02 00:00:00

ANNUAL CIRCULARS.

SPIRIT OF THE LIVERPOOL BROKERS'

At a late hour last night we (Liverpool Standard)
sacaseded in getting copies of the annual circulan of some
of our leading broaen; and we now proceed to give their
cements, or their substance, referring our readers for the
statistics ribliabed in the tabular forms at the loot of this
article. We take flint the cotton circular, authorised by 30
of the principal firms of this town, which supplies the follow-
ing partinalars :

" no total import into this port during the present year
Us amounted to 1,732,219 bales, being an increase of 165,321
bales as compared with last year, and of 643,983 bales as
with that of 1847.
This export from this poet amounts to 184,050 bales,
against 142,000 bales in 1848, and 138,600 bale, in 1847.
' The stock in Liverpaol, as declared this day, le 468,170,
against 393,340 bales in 1848, and 306,630 belts in 1847.
" The total deliveries for home consumption (tenths ports
of the United Kingdom are 1,597,603 bales, being en average
weekly delivery of 30,690 bales, against 28,948 bales in 1848,
and 21,269 bales in 1847.
" Sire Friday there has been an active demand, sod the
sale* have been extensive, amounting to 16,230 bales, of,
which 4,630 bales to speculators at an e dvance of il. upon
American and Brasil descriptions. The stock as declared
this day exceeds the wham*, 96,487 bales, but the effect
upon else market has not been yet felt. The arrival of the
Canada from Boston puts as in possession of later intelli-
gence, which varies little from previous accounts. The re
°clots continue heavy, but the estimate, of the crop do not
vary from prrvi .ugly expressed opinions of its ultimate turn
out, being about 2,250,000 Wes."
Messrs. Haywood and M'Viecar gate their views at Very
gnat length, and we must therefore take the liberty to
abridge them a little. After remarking spun the increase
of consumption in 1849 of 1,660 bales per week over that of
IB4B—the average in 1849 being 30,611 this year against
28,944 last year, which is an ipotesi of about 7,000 per week
over 1847—these gentlemen proceed to detail the various
changers in pekes which bare taken place during the put
veer, consequent upon eonflictitig opinions me lo the
yield of the crop at different periods of the year. We com-
menced the year with the expectation that the yield would
not exceed 2,400,000 hales, which, however, ultimately re-
sulted in a crop of 2,728,0U0 bales. Cade r this idea, aided
by a general improsion that trots was about to take a
favourable turn, we had an animated demand in January
and a partial advance, counteracted to some extent by
tarp arrivals and a disposition on the pot of importers
to realise at current rates. In February mere spirit was
evinced ; but in March the prospects of trade in India and
other causes stilt rates back. In the following two months
increased estimates were circulated, and the renewal of
the Daniell war, with the unsettled state of Germany, so
arr. sted the demand in Manchester for yarns that the
market wee only kept steady by the indispotion of im-
porters to sell at a lose. The same state of thinees continued
up to May, but at this time we had reports of severe injury
to the crop from frost, which tended to strengthen the mar
he'. In June and July corroborating accounts continued to
arrive, and prices advanced. Moue. Haywood and M'Vicear
coignes : _

"It was about this time also, that is, the end of June, that
in addition to the front of April, novices of seri .us inunda-
tions of the Mississippi and of Red River, as well as losses of
slaves from cholera, were transmitted, and these were so cir-
cumstantial in their details as to lead to the almost certainty
that, whatever might be the future amelioration in the wea-
ther for the remaider of the season, the growth of 1849-60
must be one•fifth lees theta that of 18411.49. It is this hypo-
thesis, backed by an extraordinary consumption, which, up
to this day, has, with some fluctuation, maintained the up.
ward tendency of the market, and given to it a &muss and
a position little foreseen at the beginning of the year; and
one whtch, withoot toe us. emitted events alluded to, could
never have been inagiord, sunposusg the crop Lad for one
aperient been cenctaved to turn out what it has really proved.
In July the average purchases of spinners amounted to
40,000 bales per week, wisest speculators took an average
of 28,000 belts weekly darieg the same period. August,
again, was a month of most extensive operations, and of
important rise, the sales amounting to no less than
284,800 bales. September was dull, but prices remained
firm, the trade buying little daring the whole of the mouth.
In October 366,000 bales, and the advance realised was
id. per lb. The stocks, which at the beginning of the
month were 20,000 bales more than at the Fame period
last year, were, at the close of the month, 90,000 bale.
lest Transactions so large naturally incurred with the
business in November, which was limited, and as the ad.
from toe States were rather more favourable as to
the season, the trade kept more and more aloof, under
the expec'ati..n that holders would be disposed to give
way in irices. Specie eters, however, remained COLfitlent,
and purchased 78,1.100 bales during the month. December
has beau a varied period of singular reprice, so ter as the
character of the market has been cot cerced. NVI h esch
succeeding packet there his been such a variety of estimates
as to c• Wound the most intelligent. The north and south
have differed fr ins 300,000 to 400,000 bales in their r. ports,
and whilst from New York 300,000 bale", and even more
have been named as a path!' crop, New Orleans, Cearles-
ton, and other important places, have stated 2,200,000 bales
to be the extreme. With so groat a discrepancy, holders
have periodicilly been smutted by alternate hope and leer,
and as the one or the other feeling pre dominwe el, the market
h.a sympatbised accordingly. During the first two or three
weeks, and under a certain impression of disappoiotment,
prices gave way some little, but the cheering accounts of
business in India, and a very animated market in Man.
thaw, together with the advice' by too American pacatt of
the Ilth ult., strengthening very much the previous lose
estimates, have led to large transactions during the last and
the present week, both by spe:ulators and the trade, and the
market closes at the quotations of the 30th ultimo. Com-
pared with those of the Ist of January last, prices are now
21d. per lb. higher in American, 1;el. in liras 1, id. in
Egyptian, and lid. in Surat cotton "
The real stocks on hand, as declared authentically, are
less in accordance than usual with the ordinary weekly re-
ports; but the operations of the year have been io unwind.
baled as to render exactitude a matter or great difficulty.
The difference does not, however, interfere with our y,eneral
reasoning, nor will its bearing upon the suture be lurked
upon as important, esp dally it the estimates of crop received
this day by the packet of the 19th ult., which are very con•
siderably below 2,300,000 bales, be found to be ne,r the
truth. If the stock here be larger than anticipated by 80,000
bales, it is probable that the supply in the spinners' hands is
so mach the less, so that whether the cotton be here or in
the interior. the issue must ultimately be the same.
The following are the met important of their mini stions,
as to the probable 'nciation of the market for the raw mate-
rial for the year upon which we have now entered. After
expressing a doubt whether the existence of the present
abundance of currency e n exercise any Important result
upon prices, Messrs. Haywood proceed :
" In a inclusion, then, fruitful as former years have been
in experiences, and in results differing from nticipetions,
and open as the put has ever been to vicimitude, yet this
year may perhaps be considered the moat remarkable on
record. With an American crop larger than yet known,
even supposing we are correct in stating it to have been
only 2,600,000 bales, it has exceeded the average of the five
preceding years by nearly 400,000 bales. l'rices are now
higher than they were at the end of 1847 by lid. per lb.,
when the crop proved to be only 1,778,000 bales, and higher
by 21d. per lb. than at this date in 1848. The main awe
of the !weariful issue of the present year is to be found in
the reduced stocks in foreign markets, such a vacuum
having been there created by the limited transactions of
1847 as afterwards necessitated large e xports, and
I to wiriest% the low quotations of cotton for man!
months of this and the fast year greatly contributed. The
result also has been much aides by the reoeteblishm• nt
of order throughout Europe, and the overthrow of revolu-
tionary principles. While anarchy menaced every country,
credit naturally disappeared, and contraction, not extension,
was the aim of every commercial man. It was only when
there seemed something like a return to rounder views, and
when more rational ideas had displaced wild and visionary
theories, that trade resumed it wonted activity, and ootifi-
&see revived. The lesson his been severe. It is to be
hoped it will not have been offered in vaio."
In conclusion, they express an opinion that " Looking to
the consofidation.of outer on the Continent, and to the supply
of cotton to be expected, not only that the present quotations
for this article are 'moderate, but that, unless we are grossly
deceived in the estimates of the crop from the United States
and other ocunuit a or present prises are beeed upon a firm
and solid kitedation, and that the COMil.l4 year ie, from the
general aspics. of the commercial and political world, likely to
be one of iudividual and general prosperity."
The annual circular of Messrs Stead, Brothers, enters
elaborately tato the statistics of the cotton trade, but we
have not room for more than the following extracts :
" The import of Egyptian colic., which fell off so consi-
derably in 1847 and 1848, has this year been exceedingly
large, amounting to 72,720 bales, against 29,000 last sear
la the quantity received from Brasil there is also a great
increase, it has reached 163,440 bales, spinal 100,200 last
year, and is 63,000 nodes more than any previous import,
The increase in the supply from India experienced daring
the two previous years has been very nearly maintained, the
import antonntiag to 182,070 bales, against 227,500 to 1548.
With regard to the new crop, it is generally admitted
that it will fell short of the last, the injury experienced by
unfavourable weather in the spring not having been ooun-
terbelaaced even by an unusually fins autumn and late
frost. The present lap receipts at the ports would cer-
tainly lead to a different conclusion, bat they cannot safely
be taken thus early in the reason as any correct index of the
ultimate yield, especially if we take into account the in-
creased railway facilities for transit. By toe last advice,
the estimates of many well informed housed are rather re-
daeed than otherwise, and vary from 2,100,000 to 2,300,000
bales; if we take even the higher estimate, and bear to
mind the increasing quantity required by American
spinners, and the light quantity held in this country as well
aeon the Continent, there doss not seem any reasonable proba-
bility of the supply of cotton for the present year being such
es
to maintain the present rate of consumption.
"The efforts now being made to extend the growth of
cotton in India, as well as to improve its quality, must be
regarded as highly important, the experiment of growing it
there from American seed has proved successful, and there
does net sous any reason why this should not be carried out
on an extensive scale. Again, we would ark, as at the close
of 1347, ' Could British skill and capital h • hetrer employed
than in producing this important staple ?•
" Tits prospects of the year now before us may fairly be
considered encouraging ; during this pr iverbielly dull month
a good business has been going on at M inchestcr, which
certainly seems likely to "tontine's, tnr the stock of yarns and
manufactured felines are said to be extremely limited,
whilst food is cheap and money plentiful, beyond all prece-
dent. Should the raw material prove abundant, it a.ight
not be too saaguiee to expect a year of great prow rity ; on
the other hand, should the consumption be found to overtake
the supply, either it must be at once curtailed or prices will

be forced up to such • point as will inevitably lead to a
s vete r &Igloo. A limit d and unc-rtain supply of cotton
must be regarded as • serious evil ; it will always occasion
those extreme fluctuations in its value which of late years
have proved so injurious both to the merchaat and the ohn-
sumer, whilst it will continue to operate as an effectual check
to the full and free development of the great manufacturing
power of the country.
A.l bearing ;upon the question of the consperative re-
ceipts and exports from this port, Mesas. Heffinshead,
Tetley and Co. remark in their circular, which must suffer
from the abbreviation which we are compelled to resort
to at the late hour at which we write, that " notwith.
standing the large (direct shipments from the United
Stator to Franco sad the continent (asarly 700,000 bales),
our export' have been considerably ia xcess of any pre-
vious year—so much so, that th quantity, retained forhome
cousumption, which may be termed the nett import, is
nearly 80,000 bales less than that in the previous year of
greatest import, 1845, and this important feature must be
borne in mind in all future calculations respecting crop and
supply. The quantity exported le 256,300 bales, against
189,600 in 1848."
These gentlemen then enter fully and carefully into the
many important statistics connected with the censureption,
prices, sales, &e., of cotton, and ceoclude with the fol-
lowing valuable remarks as to our prospects for the year
on which we have just entered :
Psoepects for the general trade of the country, at least
as regards the principal artielos of export, more pa-ticu
luly cotton fabrics, were perh.ps more promising;
and it is evident that the late disturbing causes, political
and social, in Europe and litchi. with the effects produced
upon other countries, reducing the consumption of cotton
to 22,230 weekly in 1847, and 27,602 in 1848 (previously
upwards of 30,000 bales weekly), meat. d • vacuum which
has not been IlEed up by the increased coneumption of
30,512 bales weekly in the present year; indeed it would
' seem that thin large quantity (and it has been pro-
portionately great in other a.tton manufacturing coun-
tries) has only been sufficient to supply the 'nurse-
sag wants of the world, as we no longer hear of glutted
markets, but the report Is of light stocks almost every-
whore. Acrd when we take into consideration the low
price of all articles of food, corn particularly, the great
abundance of money, i:s low value, not (xceeding, per-
haps, 'l4 per cent, per annum in the London market, with
a larger amount of gold, &c. (17,000,0001.3 in the Bank
of Eugland than was ever known before, it is evident that
• great stimulus may he given to the trade "f the country,
and that with the disfavour shown to railway property it
is moot likely the usual effects will follow, viz., extensive
speculation and greatly enhanced prices of all articles of
import, and of cotton in particular. With high prices we
must have • reduced consumption, and the latter would
seem to be inevitable, as we do not see where a supply of
the raw material equal to the present year's consumption Is
to come from. In estimating the supply of cotton for 1850,
it mac be observed that the quantity reeeind front countries
other than the United Stets for the previm. ten yeses hes
only averaged 370,000 baler, varying but little each year
from this average, and forming a quanti:y so comparatively
insignificent that we shall consider oily the sopply from the
i United .Sates. The crop of last year was 2,728,596 bales, the
whole of w hich has gone into consumption, leaving no increase
of stock in any quarter. 01 this crop the United State, con-
sumption absorbed 618 039 bah-e, France and the coati's, sit ci
Europe 689,943 bales, besides 163,100 helm exported from
this country, nuking a total of 1,361.682 bale.; and sup-
posing the American crop to amount to 2,300,000 bale.,
which is considered a full estimate, the supply for this
country would only be abet 940,000 bales, and the con
sumption this year was 1,279,332 hales. A short supply,
however, will cause high prices and a diminished con-
sumption, and the quee ion is, where will that diminished
consumption fall. We may answer at once mainly in this
country, dependent as it is up in foreign trade, which is
immediately chocked by any serious advance in the cost of
our manufactures. In the Unit d State., France, and the
c'nti eat of Europe, where they are prometed by high
,:u. its upon our manufacture., and dependant entirely upon
their internal trade, the cost of the raw material it of 1 ss
niuquence, and an odvonce in price which would check
consumption 25 per cent, in this country would scarcely be
felt there ; it follows, therefore, that if there is a short supply
of cotton, as stated, it will tall mace ly upon this country.
The high price already ruling may, bower. r, give us • goad
supply early in the ensuing year, whamver may be the re
salt hereafter.

CuNSTIIPTION UT COTTON, &C., IN 1849.
Imported into Gnat Britain in 1849
Exported :Nen ditto, am lollows :
From Liverpool
London
Glzegow, &e

Nat Import

1,648.060

Stock in Great Britain Deeeaabev 31,1818
Nett Import, as above

Stock in Um Kingdom, Doeenabor 31, 1849

2,14 110
M 8,400

Apparent consumption of the muntry in 1849.... 1,68-5,710
or 30.494 bake wtekly.
against 29,020 in 1848 against 28,278 in 1843
„ 22,230 in 1847 ~ 22,414 as 1842
„ 31,261 in 1848 ~ 22,762 in 1841
„ 311,065 In 1846 „ 24,062 in 1840 and
28,400 in 1844 „ 21,834 in 1839
Average Weiebt of Americ:n Cotton since 1844.
184'J
1848
1847

NARROW ESCAPE OP MADAME SONTAG AND
PARTY.-0n the morning of Friday last, Madame Sontag
and petty left Glisgov for Aberdeen, to attend the ttorni.ig
concert, on the following day. All went well till the train
re-c+' el Glammis, when a greater depth of snow was e xpe•
rienced, and from thence to Laurence kirk, the speed wins
materially retarded. At Middleton Bridge, about a mile or
a mile and a half farther on, the engine ran into a cutting
filled eri.h snow to the depth of six L et, and then lecame
completely immoveable. At thin time, five in the afternoon,
the blast was most fierce and cutting, carryitg the drift from
the fields into the hollow of the railway, and rapidly burying
the carriages. The situation, as may be imagined, was any-
thing but agreeable for the passengers A consulta-
tion having been held with the guard and driver, Mr.
Wood determined to lire. the train, and endeavour to reach
L turence kirk on foot. This, pith the assistance of ta o
guides, he happily ace •mpliehed, although the strength of
the wind and depth of the 'mow brought them several times
to a standstill. Aid having been procured, and a b Meet of
previsions got ready, the party again started for the em-
bedded train. The wind being now in their faces, the to k
became more difficult, as well as dangerous, but by avoiding
the road and taking through the fields, from which the
snow had been partially dislodged, the train was once
more reached at halt-past seven. The question was
now whether it was possible to remove the ladies from
the carriages, and gain t►e summit of the cutting.
Madame Sontag, with undaunted energy, at cure deter-
mined to attempt it, and descended from the carriage. The
men were sent on before to make a track, when Madame
Sontag, aft r great exertion, and several falls, leached the
level ground. There the blest Immune quite blinding ; but
Madame S 'meg having covered her head wiih a cloak, was
soon supported through the fields and over the fences, to the
house of Mr. Wilson, a most hospit►ble farmer, where along
with Count Rome, Mr F. Lablache, Signor Calaolari, asd
Signor Platte, she remained all night. Mr. Wood, with
some others of the putty, again faced the blast, and reached
Laurencekirk in safety, although much worn out. Between
Drumlithie and Middleton Bridge, there were five engines
and four trains all fast. Next moraine the snow had so
completely filled the cutting as to bury the carriages. The
railway authorities are using every exertion to clear the line.
and they hope to restore the communication during the day.
It is hoped that Madame Sontag will reach Edinburgh on
Tuesday.—Caledonian Mercury.

, -
RECENTLY PROJECTED ABSCRANCE SOCIETIES.— I
The titles of projected companies provisionally registered
during the year 1849 are 63 in number ; nine appear, how-
ever, to be duplicates or partially altered, applying, it would
seem, to others previously named, and emanating from the
same promoters The followieg is a statistical summary of
their various intended operations: Accidental death, 5 ; co.
loisation, 1; life alone, 35; life and fidelity euarantee, 8 ;
marine, 3; cattle, 2; fire and life, 6; fir- al ,ne, ; property,
3; solvency and einumercisi debt, 2. Some of the titles are
highly novel, and characteristic of the curious taste of their
progenitors. One start, with a " Champion" and ends with
a British Homeopathic Life," suggestive, we ',ppm., of
intioitessimal assurances. Then follows a " Gas Protector's
Mutual," with the additional variety of argand end bat's.
wing policies. Cambria, hitherto Dill. cted, enjoys a triple
slice ; nor are the mining, trading, and industrial interests
neglected. Amongst the novelties in the shape of assurances
' we have a sample of " Bachelor Policies of Fidelite," text
' whether the guarantee applies to pecuniary or hymeneal en
' mem eta the chronicler speaketh not. If, however, to the
latter, we doubt not but the insurers will be well sapported '
by the fair sex.—The Reporter.
A PRItION BREAKElL—Frederick Grimwood, Dome
time since, whin neer rentenee of transportation for seven
years, quietly walked a from Ipswich gaol, to the utter
consternation of the authorities. He then indulged in a
plundering expedition throughout Norfolk, Huatingdon,
and Cambridge, and ultimately found his way into the
Bury Assize Court for rohbery. Here he was convicted,
I and was also recognised by Superintendent Masm, who
happened to be ia court at the sentencedwo who had
adopted the name of Smith, was to six months
which he convicted,
and offence
est bee odf atwte
the
vewieh
gaol pre-
iirainuy to undergoing his former sentence. On Wednesday
afternoon, however, he took a distaste to her Majesty's poi
at 'Bury, and aociadingle walked off on his own account,
without in any measure studying the meting. of the governor,
who had been quite unaccustomed to lose his prisoners. We
lento :bat his ap• was rff.eted by the negligence of the
plumb. r, in leaving a ladder which he had been using in the
well. The prisoni r could see the ladder from his yard, and
he immediately climbed over the iron railings, si land the
ladder, mounted the wall, and dragged the ladder over the
wall to dant nil by. But it appears the ladder slipped aide.
ways out el his reach, and he had to drop from the top of
the wall, a distance of 2i3 feet, as a deep indenture was mate
in the sod by I.is feet in the fall. The officer having had
occasion to leave the yard for about a minute, it appears that
he took immediate advantage uf his ab.ence. 0111,:ere are
scouring the c unrrt, bu• nothing has been heard of the
pri caner since.—lpswido &pews.
A Stows-BARGE, name not known, sunk in the
river at Bristol vesterilay. She was very deeply laden, and
went down in the swell caused ay the Osprey steam-packet.