The Sun.
London, England, 1867-08-31 00:00:00

FRANCE.

The annual meeting of this association was held
yesterday afternoon at Manchester, Mr. John
Cheetham, M.P., presiding. There was a good
attendance. Mr. Watts, the secretary, presented
the annual report, which says :
"Ten years ago the supply of cotton, though
chiefly from one source, seemed abundant and se-
cure, and the solicitude which some evinced to open
up other and additional sources appeared to super-
ficial observers to be only the result of nervous
timidity and groundless fears. The course of events
has since, however, shown the wisdom and foresight
in which the association originated. Its labours,
though but partially encouraged by those whose in-
terests were involved in its success, contributed
greatly to alleviate the distress occasioned by the
cotton famine, and have done much to prevent the
recurrence of a similar calamity. Had it not existed
the means of stimulating and assisting the growth
of cotton in other countries when war arrested the
supplies from America would have been wanting.
But, happily, the preparatory work to some extent
had been done when the sudden collapse of the
Ainerican cotton trade made it necessary to look
elsewhere for the raw material required by our manu-
facturers. The result of previous investigations
then became of great value in showing where cotton
could be obtained most speedily, and where the as-
bociation could prosecute its labours with the greatest
.assuranee of success. It came into existence when
the largest supplies ever received from America were
readily obtained, and when there appeared no pros-
pect of interruption. It owes its origin to the fact
that even then those supplies were inadequate, and
to the firm conviction that to prevent calamity it
was most important that those supplies should be
supplemented from other quarters of the globe. To
develope as much as passible and by every means
the cotton-growing capabilities of other countries
than America was the great purpose contemplated by
the association when it began its labours, and the
events which have since intervened have only
tended to demonstrate the wisdom and importance
of its object. This object has been steadily pur-
sued ; difficulties have been surmounted, the
sources of supply have been multiplied, and are
now so numerous that, if retained and made still
more prolific, the loss of any one of them, however
valuable, will be of comparatively little consequence.
To retain them, and to render them more and more
productive, is the special aim of your association,
and to this end the efforts of your committee have
during the past year been directed. Believing that
the Southern States of America in their altered con-
dition would not furnish cotton so abundantly as
before the war, your committee made it their first
exertions to extend
banudsinimespsrtooveentchoeucraufe renewed
cultivation
nin
other countries. An
address prepared with this object in view was
translated into the different languages spoken where
cotton is grown, and widely distributed ; and your
committee have learnt with much satisfaction that
fresh exertions have been made in Turkey, India,
accompanied with the
mthoereßerxatzeinlss,ivaenduseelsoefwhere,
American seed. The result
has been the growth of a better quality, and cotton
from Smyrna and other districts has realised in
Liverpool nearly as high a price as the produce of
the United States. Your committee are confident
that the beneficial effect of their appeals will year
by year be manifest in increased supplies of cotton,
and of a higher class, from the various countries
where the influence of your association is exerted.
The committee are encouraged by the experience of
the past year to look with increased confidence to
India, in consequence of the gratifying results which
have attended various efforts to improve the inde-
genous cotton, and to introduce exotic varieties
more extensively.
'The representations which your
association so often and so long made in vain have
at length produced the desired effect, and some of
the objects sought have been partially attained. The
committee desire to express their conviction that
the work of the association during the past year,
though unobtrusive, has been in the highest degree
useful, and has been the means of removing diffi-
culties, reviving confidence, and promoting cultiva-
tion. The returns furnished iu answer to the
queries issued have appeared in the Cotton Supply
Reporter, and thanks are due to the consular repre-
sentatives of the British Government in all cotton-
growing countries for their ready co-operation in
carrying out the objects of- your association."
The CHAIRMAN moved the adoption of the report,
and it was adopted. The other business was the
re-appointment of officers, awl a vote of thanks
was given to Mr. Cheetham for his services. as Pre-
sident of the Association.

THE GREAT RACE OF TILE CHINA SHIPS.—IL is
expected chat sore of the ship; engaged in the annual race
of China ships from Foochowfoa for London will arrive
off the coast in the course of the ensuing week. The first
ship that reaches the coast may sot be the winner. There
are 13 ships in the race, nearly all of which left at different
dates, ranging over three weeks, and the one that makes
the voyage in the shortest tints will be held as the winner.
The last Rely-ices from Anjer report that the fastest ship up
to that point was the Ariel, which had left Foochowfoo 12
days after the departure of the first ship, the Maitland, she
having passed Anjor on the 4th of July, thus doing the dis-
tance in 21 days; the next was the Taeping, in 23 days, she
having sailed on the 4th of June. (These two ships, it will
be recollected, ran the dead heat in the last year's race.)
The Fiery Cross arrived in 26 days, and the White Adder
in 28 days. Shesailed two days after the Fiery Cross. The
other ships had not come in sight at Anjer up to the even-
ing of the 4th of July, the time the post was despatched for
England.

PARIS, Aug. 30.
The Emperor, on his passage through Amiens,
was presented with an address by the Mayor of
that town. His Majesty in reply said—
" I have crossed France with the Empress, from

Strasburg to Dunkirk, and our hearty and sympa
thetic reception everywhere has filled us with the
liveliest gratitude. Nothing, I perceive with plea-
sure, can shake the confidence which for 20 years
the French people have placed in me. They have
estimated at their real value the difficulties I have
had to surmount. The ill success of our policy
across the ocean has not diminished the prestige of
our arms, since everywhere the valour of our soldiers
overcame all opposition. The events accomplished
in Germany have not caused our country to depart
from a calm and dignified attitude, and it relies
with justice on the maintenance of peace.
"The excitement of a small minority has not caused
us to lose the hope of seeing more liberarinstitutions
peaceably introduced in our public life. The tem-
porary stagnation in commercial affairs has not
prevented the industrial classes from showing mu
their sympathy, and from relying upon the efforts
of the Government to give a fresh impetus to com-
merce. I have found with pleasure these sentiments
of confidence and devotion existing at Amiens and
in the whole department of Somme, which plum
have always shown a sincere attachment to me, and
where a residence of six years proved to me that
misfortune is a good school to learn to support the
burden of power, and to avoid the dangers of
fortune."
BOURSE, August 30, Two o'clock. —The same
weakness prevails, and quotations are generally
lower than yesterday. Three per Cents., however,
have advanced 10c.—at 69f. 40c. Italian Fives are
at 48f. 80c., with a decline of sc. Credit Mobilier
shares lose 3f.--at 292 f. 50c. ; Comptoir d'Escompte
the same—at 705 f. ; Immobiliere, 2f. 50c.—at 127 f.;
Spanish Mobilier, on the contrary, gains 2f. 50c.—
at 195 f. Railway shares remain unvaried—Lyons,
at 886 f. 25c. ; Northern, 548 f. 75c. ; and Eastern,
552 f. 50c. Very little business doing.
Three o'Clock.—An improvement has been ex-
perienced at the close, which took place as follows
41 per Cents 99 70 Bank Shares 8315
Do. end month — Italian Loan 4B 80
3 per Cents. 69 55 Do. end month 49
Do. end month 69 471 Mexican Loan l2
Credit Mobilier ... 297 5U Do. Bonds lO6 25
Do. end Month ... 296 25 Spanish Threee
Credit Fonder 1370 Home Debt
Da. end month' 1365 Deferred -
RAILWAYS.

For Accoun
Orleans
Northern 1152 25
Lyons and Mediterranean B9O
Southern 548 75

Weston'
Eastern
Sardinian 45
Austrian
Lombard 877 50
North of Spain
SaragosEa BO 50
Homan