The Sun.
London, England, 1847-04-05 00:00:00

STATE OF TRADE.

(From Fergus- on;nelTayror; Monthly Trade Circular.)
MANCHESTER, APRIL I.—The business transactions
of the last month have been rather larger than for some
time past. At the beginning of that term the market
was dull and depressed, and a few heavy holders of stock
were anxious to press sales. The comparatively low
pricesmteeumt p
wasted s oemffeeoltaerr
otherpurchases,
rasn d
fealts
tsbooa ni
mfapsutlhs
el ft,
highm
an d ourudde r s
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o f powing, two e
rt
oh e b
roo rumg
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armleddatoyst:
whichf or ar dp r
ommoireee d for eel
returny. Ao f few
genial brightiveat ae
rn,d
also '
small influx of buyers for the country trade. Under
this gratifying change of circumstances, the market
during the middle of the month, wore a more animated
aspect than for some time before. The operations, prin-
cipally by shippers to the markets of the east, and the
states of South America, were considerable; and there
can be no doubt that stocks have been materially reduced
by these transactions. During the previous depression,
the rates of cotton had considerably receded, and as the
prospect of the future seemed to be brightening, spinners
appeared disposed to extend their investments in the
staple. Holders of stocks, however, at Liverpool, were
fully alive to the improvement which was beginning to
manifest itself here, and at once demanded higher prices.
In the space of ten da)s just past, the value of cotton
has been increased, by the operations of speculators,
fully id. to id. per lb., and this action on the rates of
the raw staple, has l'ad the necessary result of com-
pelling spinners and manufacturers to withdraw their
stocks, unless buyers cunceds an advance of about id.
per lb. on yarn, and 3d. to 4id. on most descriptions of
shirtings, &c. As might have been anticipated at the
first indication of this proceeding at Liverpool, business
here has been decidedly checked, and the market is again
completely unhinged. The producer has no alternative
(since it is evidently impracticable to effect any corre•
spondent rise in the prices of yarns or goods) but to cur-
tail the supply still more by the further limitation of the
working hours in our factories. It is contemplated by
many to close their mills during the entire Easter week,
and to continue stringently the policy of " short time,"
until the arrivals from the United States bring down the
prices of cotton, or the scarcity of the textile fabrics
compel shippers to yield a further advance on the cost of
the raw staple. It is greatly to be deplored, that whilst
the unfortunate operatives have to wait the solution of
this struggle of contending interests, the return of wintry
weather should occur to increase their vicissitudes;
whilst, at the same time, it deprives them of hope of any
relief coming from the spring demand for the home
trade. The recent advices from some of the largest
of our foreign markets, are much more encouraging
than for a long time past. The prospect of demand for
India, China, and the Brazils, independent of the proba-
bility of an important revival of our trade with the
United States, is calculated to uphold the expectation of
manufacturers; but until the question of the cotton
supply be fairly settled 4 we cannot look forward to any
steady rule of prices, or the resumption of full time at
our mills. The greater ease of the Money-market, the
favourable seed time enjoyed by the agriculturalist, and
the likelihood of a material decline in the cost of food,
from the abundant imports of bread-stuffs on their way
hither, are all favourable elements, which encourage the
hope of a better home trade as soon as fine weather re-
turns, and the rule of prices becomes more firmly esta-
blished.

GOODS MARKET.—The demand for printing cloths
daring the month has been exceedingly languid, and
although the production has been very materially
lessened, the supply has continued rather in excess.
Under such circumstances, prices have had a drooping
tendency, and good 66 and 72 reeds might be bought at
from 3d. to 6d. per piece lower than previous currency.
They are still moderately plentiful, but the altered con-
dition of the cotton market has somewhat hardened
prices during the last week. Nine-eight shirtings and
maddapolams have been in moderate request, and some
considerable parcels have been cleared out, but at very
low prices. The stock is somewhat lie hter, and makers
are to-day demanding an advance of from lid. to 41d.
per piece, aocording to quality. 40-inch G. E. long
cloths have been of large sale for India, and a few par-
cels of magnitude have changed hands for China. The
market is less pressed upon by stock, but prices are little
higher. Holders are seeking an advance, and the
improved advices per Overland Mail, with the higher
rates of cotton, are much relied upon by them, in
enforcing their views. We believe few buyers are dis-
posed to make the concessions required, and business is
therefore checked for the present. There has been a
much larger demand recently for 45 and 50 inch G. E.
India long cloths, and as the stocks of these goods are
bare, higher prices relatively than for 40-inch are
obtained. G. E. cambrics and jacconets have been in
moderate demand, but there is no material change to
note in prices. Stout domestics, wide widths, have been
a good deal enquired for, for India ; but stocks of the
qualities wanted are scarce. The narrow makes adapted
to the consumption of the Brazils have been neglected,
and stocks consequently only kept down by short supply.
Stout long cloths, punjums, and salempores are of but
limited demand, but as most of the principal makers have
suspended production, the supply is vastly cut off ;
prices, however, are not much improved as yet. Their
turn must come in due season, as foreign markets must
be running bare in the meantime. T cloths have been
only moderately saleable, but stocks not being heavy,
prices have been fairly maintained. On most descrip-
tions of these heavy fabrics an advance has been de-
manded since the last reaction in the Liverpool market.
Velvets, velveteens, moleskins, &c., are dull of demand,
but without any alteration is prices. Prints are dull of
demand, except those of one or two of our fine plate
printers for the home trade, and chintzes for Rio de
Janeiro, Bahia, and the United States. Ordinary ship-
ping qualities are neglected, and are rather scarce in
stock.

YARNS NIARIET.—The transactions in both mule and
water twist during the month has been rather consider-
able, both for India and China, and the sales thus effected
have considerably relieved the market, but without pro-
ducing any absolute scarcity, except, perhaps, in No. 40s.
and 50s. mule, for which there has been a greater run
than most other numbers. The transactions for Russia,
Germany, and other ports of the north of Europe, have
been on a smaller scale than usual at this season ; but
still, eligible parcels, offered at the lowest rates, have
continued to be moved. Short production has been
pretty steadily persevered in, and this, together with the
sales of the month, must tend to give more firmness to
spinners, especially in the face of the advanced rates of
cotton. The higher prices demanded for yarns are
checking operations, and many orders have been with-
drawn until those current during the earlier part of the
month shall be again ruling. There is an improved de-
mand in doubled yarns, both for export and the home
trade, with an upward tendency in prices. Cops rt.-
main without change, either in demand or value.
BRADToRD MARKET.—Wool continues without any
change in price, and with only a limited demand. Yarns
have been in greater inquiry, and many of the spinners
are now working to order, but the contracts are ex-
tremely low, and at barely remunerative rates. Piece
goods, lastings, merinoes, and all descriptions of worsted
makes are very quiet, but all kinds of plain and fancy
cotton warp goods, say Orleans, silk stripes, and checks,
&c. &se., are in excellent request, at full prices, for the
American markets. Extensive contracts have been
taken by sonic houses for the same quarter, and the
accounts just received thence are very satisfactory. The
prospect of an improving trade to that country is as ap-
parent, and prices of all suitable goods will receive an
impulse, and advance more or less from the rates now
current. The present, therefore, seems favourable for
investment, as the tendency of the market is decidedly
upwards.
COTTON MARKET. In our opening remarks we have
already adverted to the sudden reaction in the Liver-
pool market. Speculation during the past ten days has
been rife, and the rates of American have advanced
about Id. per lb. from the lowest point. Yesterday, how
ever, there was a quieter market, and the upward ten-
dency appears to have been checked. American de-
scriptions are about 2fel. per lb. higher than last year at
this time, and Brazils, about lid. The imports con-
tinue steadily to increase, more than could well be ex-
pected in the dearth of present means of transit hither ;
but the stocks held both by importers and consumers,
notwithstanding "short time," show a vast deficiency
as compared with those of last year. Until the arrivals
shall come forward more freely, we cannot expect an
important decline in the rates of cotton.

EMIGRATION.
Coax.--Hundreds of comfortable-looking farmers,
of young women and men, all decently clad, continue
to arrive daily, with the view of emigrating to Ame-
rica. In such numbers do they come, that the
rapidity with which the bakers' shops in the vicinity
of the quays are cleared of bread is scarcely credible.
A few vessels have sailed for New York and Boston
with emigrants; others are ready to follow, and ten
more are preparing for the same destination. Amongst
those that have sailed and are now ready to start—
are the Mary T. Rundlett, for New York, 115 pas-
sengers ; Conte Potoski, ditto, 74 ditto; Henry Pat-
terson, ditto, 47 ditto ; Globe, for Boston, 177 ditto ;
and the Ovando, ditto, 121 ditto. A curiousfact con-
nected with the desire to emigrate, is the large quanties
of potatoes that some of these emigrants have taken
with them. At present good sound seed potatoes sell
in Cork at 2s. 6d. the weight of 211bs. The potatoes
which the emigrants are taking off would readily
bring Is. 9d. in the market—one penny per lb. Not-
withstanding this excessive price, and that Indian
meal as food is considerably cheaper and more
portable, the preference is given to the potato. In four
vessels no fewer than 336 cwt. have been taken. In
the St. Lawrence there were 1,7221b5. ; Globe,
2,5601b5.; Isabella, 2101bs. ; and Ovando, 2,5521b5.
not, of
7,0441b5. of potatoes ! This article of food is
1 course, that supplied by the passage brokers,
but the private store of the passengers for consump-
tion on the voyage._
crowdedanel v
ewarlyrt with AuTo......raeage.— Cork Constitution.
this locality is really progress of emigration from
Nt•ueynaantecelanisdsurprising. Every public con-
veyance
leaving this unfor-
itrsseds are seen wend-
-I•,oir the same ing their way to the neareyst
pur-
pose. We would rejoice atuPntohdr
that 'tis but the comfortable farmeritatnladatth%e'euksneLwl
artisan who are forsaking our shores, '
lea •
a miserable and squalid population.—Ma;onegothGlintid-
tion.

Our roads and quays are crowdlbevery day with
country people departing hence for the colonies. We
understand that Sir Robert Gore Booth, Bart., has it
in contemplation to send out to Canada from .500 to
700 of his cottier tenantry, who are desirous to pro •
teed thence in the hope of bettering their condition
—he is about freighting a vessel or two to convey
them,—Sligo Journal.

ASSIZE INTELLIGENCE.
HOME ClRCUlT.—Kingston, April 3.
(Before Lord DENMAN and a Special Jury.)
COOPER •ND OTHERS V. KNIGHT.

This was an action upon a bill of exchange to recover
the sum of 4001. The defendant pleaded that he had
had this bill by a renewed bill, which was duly honoured
on arriving at maturity.
Mr. Sergeant Shee, with whom was Mr. Ogle, con-
ducted the case for the plaintiff, and Mr. M. Chambers
and another Learned Gentleman, appeared for the
defendant.

The history of the case was as follows :
The plaintiffs are the representatives of the London
and County Joint Stock Bank. Amongst other branches
which the company have is one at Petworth, whereat a
person of the name of Elliott kept an account. In the
early part of May, in the last year, this Elliott, having
some bills becoming due, called upon Captain Luard, the
manager of the Branch Bank, and intimated his in-
ability to meet them on the days whereon they were
about to arrive at maturity. ide consulted that gentle-
man on the subject of the renewals, and the interview
terminated by the Captain saying he would write to
the head establishment for instructions as to the com-
pliance or non-compliance with Elliott's proposition
to give renewals. The reply was, that for a bill of 5001.
the board would consent to take two renewed bills of
2501. each. The renewed bills were to be accepted by
the defendant, as before. The bill became due, and some
time elapsed ere the renewals were forthcoming. At
length they came into the bank on the very day that the
bill which formed the subject of the present action fell due.
Some short time after this Elliott became a bankrupt,
and upon application being made to the defendant as to
the bill, he, in warm and energetic terms, denied that
he had ever "put his hand to paper" in respect of it.
A variety of applications were made to him, and he had
several interviews with Captain Luard about it, at each
of which he, in very energetic language, denied har-
ing accepted such a bill ; but at the same time said
that if such a bill could be produced he would pay it.
By some accident the bill had been mislaid, and for a
considerable period it could not be brought forward.
Eventually, after a further lapse of time, the defendant
called upon Captain Luard, and said he had seen the bill,
and begged that that gentleman would accept his apology
for the warmth of language he had occasionally made
use of in their former interviews in reference to the bill.
The defendant, however, went on to say that a renewed
bill which had been paid at maturity, had been given for
it, and thus that it had been paid.
This constituted the real defence, and a vast quantity
of evidence was given on either side to prove and dis-
prove the truth of that defence.

- Lord DENMAN, in summing up, said that the only
question for the jury to consider was, whe'her they were
or were not satisfied upon the evidence that this par-
ticular bill had been renewed.

The jury, after a few minutes' consultaeon, gave a
verdict for the plaintiff for 4081.

DAVIS V. HERRING.

Mr. Sergeant Shee and Mr. Charnock appeared for
plaintiff, and Mr. Sergeant Dowling for the de-
endant.

This was an action to recover compensation in da-
mages for an assault and false imprisonment. The de-
fendant pleaded first not guilty, and then as to the false
imprisonment, that the defendant gave his leave and
license.

Lord DENMAN—What, leave and license to an action
for false imprisonment ? Mr. Charnock—Yes, my
Lord, it is a new way of pleading to such an action ;
but it has of late been often pleaded.
Lord DENmax—lt is a most absurd plea.
It appeared that the plaintiff is connected as a labourer
with some lime works on the Gadstone-road, and that
the defendant had on the 10th of November been cele-
brating, together with a number of friends, the entry of
a new landlord at the Ruse and Crown at or near that
place. After the latter had quitted the house.
by some means or other ho dropped his watch
in the road. He did not miss his loss until the
his arrival at home, which was some miles distant from
the scene of festivity. He immediately, OR the disco-
very, sent over to- apprise the landlord of what had oc-
curred, and to beg that search and inquiry should be
made for the watch. In the meantime the plaintiff, who
was passing along the road, had picked up the watch,
and not knowing to whom it belonged, carried it homes
A few days after the event, the plaintiff having, from
circumstances not in any way connected with this trans-
action, quitted his then employment, came up to London
and consulted his brother on the subject, who has been a
policeman, what course he had better adopt with respect
to the watch. The advice the brother gave was, that no
doubt the owner would advertise the loss by means of
hand-bills, and then the finder would not only ascertain
the party who had sustained the loss, but would. gain
any reward which might be offered. The
ntiff,
thereupon, left the watch in the hands of his brother,
and went down to Croydon to remain until he entered
upon a new employment. On the evening of the 22d of
the same month the plaintiff, who cannot read, heard at
Croydon that handbills, offering a reward of 31. for resto-
ration of the watch, had been put in circulation,.
whereupon he said that if he could obtain one of
the bills, the watch would soon be restored. This
statement was afterwards repeated, and the con-
sequence was, that on the night of the 24th, about
eleven o'clock, the defendant, with a policeman, went to
his lodgings and made him get up from his bed. Upon
being told the nature of the business they had with him,
he at once said the watch was in the possession of his
brother, who had advised him to wait until a reward
was offered, when he was to restore it to the owner.
The defendant expressed his astonishment that the
plaintiff should have served him in stash a manner,
whereupon the latter said, first, that he had not the
means of finding out that the defendant was the owner,
and that, even supposing he had made the discovery,
and had taken the watch to him, all be should have got
would have been a pint or two of beer only. The plain-
tiff then, at the command of the policeman, got into the
pony chaise with himself and the defendant, for the pur-
pose of driving up to the brother, in London. On their
way, however, the policeman called at the station to
give information, not only that the watch had been
found, but that he was going up with the parties to town
to fetch it. The sergeant (Russell) suggested that three
would be too much for so small a poney to drag up to
London and back, and hinted that one had better remain
behind till the other two returned. The plaintiff
expressed his willingness to stop. Eventually so
the matter was settled, and the plaintiff was
shown into the men's mess-room, where he laid
down and slept until the defendant and policeman re-
turned. When they came back they had got the watch,
and then the defendant, in reply to the serjeant, said he
had no charge to make against the plaintiff, who was
dismissed, the sergeant telling him that he ought to
consider himself very lucky, for if he had been charged,
and ultimately convicted, he probably would have been
transported for having kept the watch, which was
not his own property. The plaintiff was in the station
from shortly after eleven till between four and five on
the following morning. This was the injury alleged,
and for which compensation was now sought.
On behalf of the defence it was contended, and witnesses
were called in support of the latter ground, that it was
the duty of a man finding any article of value to carry it
to the next station-house, with a view to its being re-
stored to the rightful owner; and next, that the loss had
been mentioned, and by whom it had been sustained, in
the presence of the plaintiff, every day afterwards whilst
he remained at the lime works. It was argued, therefore,
that there had been an appropriation of the watch until
its restoration by the brother being called on. It was
argued also that, inasmuch as the plaintiff had remained
at the stationhouse of his own accord, the imprisonment
had been with his leave.

Lord DENMAN, in leaving the case to the jury, said
the plaintiff had without doubt acted very improperly,
and might have been indicted and heavily punished for
having kept the watch, which he knew, of course, was
not his own. He ought at once to have carried it to the
inn, and made inquiries for the owner there, or to have
taken it to the police, who would quickly have adopted
such steps as would have led to the discovery of that
gentleman. However, that Ras not the question at issue
on the present occasion, The question was, whether
the plaintiff had been imprisoned by direction of the
defendant ; and if they were of opinion that he had,
then they would say what amount of compensation he
was entitled to.
The Jury returned a verdict for the plaintiff.—
Damages 40s.