The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1853-04-05 00:00:00

was instructed by an agent in London to sell the
iron, advised the sale by letter; but it appears by
the evidence was instructed by the London agent to
advise the sale by telegraph, and the consequence
of his not doing so was, that the principal sold the
iron to a house in Glasgow, and refused to acknow-
ledge the sale in Liverpool. Upon this the Liver-
pool merchant, whose purchase was thus repu-
diated, had to pay a higher price, owing to the
subsequent rise in the market, and sued the Liver-
pool broker for the difference. The principal in
the transaction, whose name was not disclosed at
the time of sale, deposed on the trial that his in-
structions to sell were dependent on his receiving
advice by telegraph the same day, and not having
done so, he sold the iron elsewhere. The question
was left to the jury whether the Liverpool broker
was properly instructed, and the verdict being in
the affirmative, the Liverpool merchant lost his
action on the ground that the broker, who was the
defendant, was not responsible. His only remedy,
therefore, is to sue the London merchant, and,
should his evidence be believed by another jury,
the result will be similar ; but if on the con-
trary, the remedy of the London merchant will be
to sue the broker for exceeding his instructions.
In justice to the London merchant, it should be
remembered that he made no advantage by the
transaction, inasmuch as the sale to Glasgow was
at a lower price. The simple question that arises is,
that in an ordinary transaction of every day occur-
rence, in which mercantile operations to a large
amount are involved, the peculiar construction of
the law as elicited at this trial is made the vehicle
of positive injustice, the Liverpool merchant, ac-
cording to the evidence, being actually without a
remedy, although his conduct in the affair was
business-like and honourable. The question really
at issue was the validity of the instructions given to
the broker to sell,• but this was between him and
his principal, the purchaser being necessarily an
innocent patty ; and the result of the trial has been
to make the latter a victina not only for his first
loss but for the costs of the proceedings. It is
evident that a remedy is needed, or transactions
through brokers cannot be conducted with safety ;
and the case affords a strong instance, among many
others, of the necessity for the establishment of
local tribunals, to which all commercial questions
shall he submitted upon clear and well-defined prin-
ciples. In the demand for Law Reform, this point
presses with an urgency which ought not to admit
of delay, and both merchants and brokers of Liver-
pool are interested in pressing it upon the attention
of the Legislature.
The advices by the overland mail report the mar-
kets at Bombay and Calcutta to be dull for manu-
factured goods, notwithstanding an abundance of
money. From China the accounts are more favour-
able, and prospects at Shanghae were considered
good.
It is stated from Calcutta that a vessel had been
chartered there to take 350 Lascar seamen to Port
Philip, on account of Liverpool shipowners, to fetch
away the vessels detained there in consequence of
the desertions to the gold mines. The Lasears have
been engaged at about £l5 per head.
The return from the Bank of England, for the
week ending the 26th of March, gives the following
results, when compared with the previous week :
Public deposits .. £8,468,758; Increase £265,203
Other deposits .. 12,721,782 ; Decrease 1512,916
Rest
_3,630,638 ; Increase 4,273

On the other side of the account—
Government securities £13,464,538 ; the same as before.
Other securities .. 15,931,447 ; Increase £484,175
Notes unemployed .. 10,790,310 ; Decrease 341,785
The amount of notes in circulation is £21,793,695,
being an increase of £328,855 ; and the stock of
bullion in both departments is £19,122,996, show-
ing a decrease of £40,150, when compared with
the preceding return.

ISSUE DE
Notes issued .. £32,584,005

£32,584,005

BANKING D
Prop.'s capita1.£14,553,000
Rest
Public deposits. 8,468,758
Other deposits . 12,721,782
7-day, &c. bills. 1,351,108

£40,725,286

'ARTMENT.

Govrtit. Debt.. £11,015,100
Other securities 2,984,900
Gold coin & bu1n.13,564,851
Silver bullion .. 19,154

£32,584,005
:PATI,TMENT.

Gov. securities.£l3,464,s3B
Other securities 15,931,447
Notes .. 10,790,310
Gold & silv. coin 538,991

£40,725,286

The SHARE MARKET during the past week has
been in the satne quiet state as of late ; no change
of importance in prices. Oxford, Worcester and
Wolverhampton, have been particularly good.
Should the money market become easier, we con-
fidently look for on aavanre—the heary being out
of a heavy amount of stock—public buying would
compel them to re-purchase, and so have an
immediate effect on prices. The traffics are con-
sidered good, which will induce confidence :
Caledonians, 31i; Eastern Counties, 13 12 15-16;
Lancashire and Yorkshire, 744- 75-1,-; London
Stock, 118 17+e.; Midland Stock, 74; Dover
Stock, 22i i; ork, Newcastle, and Berwick,.
17 5-16; York and North Midland, 291; Pacific
Steam Company New Shares,. 2p.
b, thr Cambria, last

COTTON.-The accounts ly ,e
week, gave confidence to this market, and the sales
on Thursday last amounted to 22,000 bales, at
an advance of id. per lb., and fully id. on low
qualities. Brazil, Id. higher, for Egyptian a better
demand. On Friday, the sales were 10,000 bales,
of which 4,000 were on speculation and for export,.l
and on Saturday about 7;000 bales. To-DAY the
accounts by the steam-ship Africa were received,
fully confirming the previous news from the United
States of the falling off in. the receipts, they being
for the week 77,000 bales against 125,000 last year,
and they point to a continued falling off for several
weeks. There had been excited markets through-
out the States, and prices had further advanced.
The estimates are now generally reduced in many
cases to 3,000,000, but few exceed 3,200,000 bales.
There was a very firm market here, and the sales were
from 7,000 to 8,000 bales, but very little excitement,
as the accounts had been anticipate.] last week by
telegraph, and this week there is no positive infor-
mation, the telegraph being out of order.
PRODUCE.-Owing probably to theholiday season
of Easter, the market for Sugar has been rather
quiet, the sales being limited to 300 hhds. 8.P.,
and 7,000 bags Bengal. In foreign very little
doing, only 400 bags and brls. Pernambuco having
been sold. A large business in Molasses, the
sales being 1,400 puns., all to arrive,. at 188. 6d. to
19s. per cwt. Of Coffee the sales amounted to a few
tierces Jamaica at about previous rates-400 bags.
Ceylon and a few small parcels foreign. Holders.
of Tea are still firm, and business in consequence
has been limited. Common Congous are in re-
quest at told. per lb. Of Rice the sales amounted
to 250 tierces Carolina, at 21s. ; 2,000 bags Bengal,
at 9s. 6d. to 9s. 9d. for broken, and its. 6d. for
good white; and 1,000 bags Arracan, at gs. 9d.per
cwt. Rum is a trifle easier, 450 puns. Demerara
having sold at rather lower prices. Of Saltpetre
1;200 bags sold at 28s. to 235. 6d. for 5 per cent.,
and 30s. per cwt. for East India refined. Guano
in active request. About 700 tons of the inferior
sorts realised full rates ; and Peruvian, in the absence
of sales on importers' account, may be quoted £lO
to £lO 10s. per ton. Of Hides the sales were 2,000
New South Wales at rather higher rates. Olive
Oil in steady demand. Of Linseed Oii 40 tuns
realised 30s. to 30s. 6d. per cwt, pale Rape 385.,
and brown 355. per cwt. Spirits of Turpentine 60s.
to 61s. per cwt., and little doing. For Palm Oil a
fair demand ; the sales amounted to about 400 tuns
at £33 10s. to £34 per tun. Tallow steady at 465.
for St. Petersburg Y.C. 100 tons American Lard
sold at 51s. to 535. per cwt. Baltic Hemp easier,
Jute in active demand, and about 8,000 bales have
been sold to arrive at considerably advanced prices.
TO-DAY the Sugar market was quiet, the sales
being limited to a small parcel of Demerara, at
355. to 355. 9d., and 950 bags Madras, at 325. 6d.
to 335. per cwt. The Tea market firm, but little
doing; 150 bags black Pepper sold at 3id. per lb. ;
40 casks Gum Gedda at 315. 6d.; 13 tons
Cutch at 265. per cwt.; and 250 bags Bombay Lin-
seed at 48s. per qr.
WooL.-This article still maintains its value,
owing to the active demand ; and the best opinions
are, that it will go still higher.-In the monthly
circulars' just published, Messrs. WM. GREAME
and Co. say :-" There has been a large business
doing by private contract; the late arrivals have
been chiefly sold as landed, and a further advance
in prices has been obtained on most descriptions,
particularly for clean long-stapled Wools suitable
for combing and carding purposes, which may now
be. quoted lid. to id. per lb. higher. In bright-
haired English and Irish combing Wools the im-
provement in prices is still more marked; a large
business has been done, and an advance of H. to
2d. per lb. has been paid on such descriptions : the
demand still continues very active, and fears begin
to be entertained that the consumption is overtaking
the supply of these Wools. Stocks in the growers
and dealers hands are lighter now than they have
been known for many years, and holders (from the
difficulty they experience in replacing their stocks)
ar
e unwilling to make sales unless at a further
advance. -Messrs. HUGHES and RONALD say :-
" In our last monthly report we alluded to the extra-
ordinary activity which prevailed throughout the
manufacturing districts, and the certainty that

higher prices might be expected. Our views have
been fully borne out : there has been a very active
demand for all descriptions of Wool, and sales have
been made to a considerable extent, both on the
spot and for arrival, at an advance of 5 to 10 per
cent.; and, from the unprecedentedly light state of
stocks, we see no reason to doubt that present
prices will be fully maintained."—Messrs. A. GART-
SIDE and Co. report :—" The activity now general
throughout the manufacturing districts has caused
an excellent demand for most descriptions of Wool,
which the extreme lightness of stocks has rendered
it difficult to supply. Australian, Cape, and other
fine kinds, fully maintain late rates ; but consumers
have less anxiety about future supplies." Messrs.
Jos. ROBINSON and Co. state that "the position
of the Wool trade has become such that more than
ordinary attention is directed to it, owing to the
rapidly-increasing value of the raw material and the
extraordinary consumption going forward in all
quarters for some months back, and the operations
of the month are such as to warrant the belief that
all kinds of Wool will go much higher yet."
IRON.—The quarterly report of the Scotch Iron
Trade refers to the extraordinary fluctuations since
the Ist of January, the price of Pig Iron having
been forced up to 755. Gd., and gone back to
525. 6d., the present rate. The stock in hand is
computed at 475,000 tons, which is an increase of
25,000 tons since the Ist of January, notwith•
standing the augmented shipments of a large home
consumption. At the Iron-masters' meeting, at
Wolverhampton, the price of Bar-iron was reduced
£1 a ton, though the reduction was submitted to
with much reluctance.

THE LIVERPOOL PILOTAGE COMMIS-
SIONERS AND THE PILOT COMMITTEE.
IMPORTANT MEETING YESTERDAY.

Yesterday, at noon, a meeting of the Pilot Committee
and the Pilotage Commissioners was held in the Council
Chamber ; the MAYOR presiding.
Mr. ROWLANDS, secretary to the Pilot Committee,
stated the object of the meeting, which was to take into
' consideration the bill introduced into the House of Com-
mons by the President of the Board of Trade relative to
the amending of the law of pilotage, as it bears upon the
port of Liverpool, and to determine whether any, and, if
any, what opposition should be given to the bill, or what
exemption should be sought from it.
The MAYOR said, as he was not a nautical man, it
would be presumption in him to offer any remarks. He
might, however, say that, by the bill now before parlia-
ment, a great change was proposed to be made in the
system of pilotage; and that, while all admitted that the
pilots were exposed to great hardships and danger, he
must testify that a better educated class of men, generally
speaking, could not be found in our country. Of the
38,873 vessels which, during the year 1852, passed into
the port of Liverpool, being an average of 110 per day,
only two brigs and one flat had been lost. (Hear, hear.)
Mr. T. B. HousFAm., rose, at the call of the Mayor,
to move the first resolution. Agreeing entirely in the
judicious observations of the Mayor, he thought it was
their duty to take exception to the bill now before parlia-
ment. He heard the President of the Board of Trade
introduce the bill to the house, and he (Mr. Horsfall)
would do him the justice to say, that he did it with con-
siderable talent, though he confessed he was disappointed
in the tone of his observations. There were many clauses,
he believed, to which exception was taken. He conceived I
it was not the pilots only who were interested in the bill,
nor was it the underwriters only, nor the shipowners,
neither the shippers of goods, but it was the public ;- and
he held that it certainly was their duty to watch over
their interests as well as the interests of the under-
writers, the pilots, and the shipowners. The ship-
owners had already addressed the House of Commons
on the subject. They say, and he quite agreed with them,
that the powers and authority to be i• ,ranted by the bill
to the Board of Trade was fraught with serious and evil
consequences. Ho would now refer to the petition emana-
ting from the pilots themselves, and he would allude to
that which had been presented by the underwriters. The
latter, stating their reasons for opposing the bill, said
they were of opinion that it would be dangerous to grant
such certificates to masters and mates, and that they
would not insure the ships which would be exempted
from taking pilots. This exception, taken by the under-
writers, is entitled to very great consideration ; for, if it is
not safe for ships a fortiori it was not safe for passengers.
(Hear, hear.) That was one of the strongest arguments
against giving power to the Board of Trade to grant
certificates to masters and mates, on the local pilot autho-
rities refusing to do so. He thought some consideration
was also due to the pilots. if masters of steamers or sail-
ing vessels were to have the privilege of piloting their own
vessels in fine weather, surely they ought not to have a
right to demand the services of a pilot in rough weather.
(Hear.) There was also some consideration due to the
shipowners,who did not choose to avail themselves of those
clauses, for they would be obliged to incur considerable
additional expense in providing themselves with pilots on
all occasions. Those would have considerably greater
expense who always took pilots than those who only
took pilots occasionally. There were two other clauses
to which exception was taken : one of them was the four-
teenth, relative to•the returns to be made to the Board of
Trade. For his own part, he thought it was right that
those returns should be made to the Board of Trade. The
I ~:...- LOILISe was the seventeenen, ann referred to the
powers given to the pilot authorities. The question was,
how were these pilot authorities to be constituted ? They
had been constituted in this port for he did not know how
many years, and he would not say that the constitution of
their Pilot Board was perfection; but he did say that if
there were abuses, they ought to be remedied. If there
were rules or regulations to be altered or reformed, they
ought to make every endeavour to do what was necessary,
He held that it was not necessary to take away the
Power from that board to give it to the Board of Trade in
London. It was an attempt to extend the system of cen-
tralization, which had been endeavoured to be adopted in
the Mercantile and Marine Bill, which, however, was
successfully opposed, as he hoped and doubted not this
would be also.. (Hear, hear.) The same also was done
with regard our customs' regulations. Against this system
of centralization, he thought it was their bounden duty to
protest. (Hear, hear.) It was a matter worthy of the
consideration of the Corporation of Liverpool, and the
Dock Estate of Liverpool, that, if the Board of Trade
were to get the whole power of the Pilotage into their own
hands, it would not be long before they got the funds of
the Dock Estate also into their bands. (Hear, hear.) On
these grounds, he thought it was essential that they should
give their opposition to the tenth clause of the bill.
(Hear, hear.) He had, for the reasons stated, great
pleasure in moving, " That the bill now before the
House of Commons, for the further amendment of the law
of Pilotage, and for conferring power on the Board of
Trade to grant certificates to masters and mates, on the
refusal of the local authorities,.would, in the judgment of
this meeting, tend to impair the efficiency of the Pilotage
in this port."
Mr.. SHAND seconded the resolution, showing, in the
course of his speech, that the bill would be productive of
very considerable injury to the general interests and com-
merce of the port, and that the Pilot Committee did not
consider themselves justified in taking upon themselves
the responsibility of allowing this bill to pass without
appealing to the general body of Pilot Commissioners,
who had taken the subject up with a spirit, which, he
hoped, would prevent the damage of which they were
apprehensive. The resolution was unanimously adopted.
Mr. WILLIAM MANN moved the next resolution :--
" That the petition now produced be adopted, and pre-
sented to the House of Commons by the members for the
Borough." He referred to the fact that no single com-
plaint had been made against the pilots of Liverpool ;
expressed his conviction that the coasting steam-boat pro-
prietors had put forward the desire that the Board of
Trade might license masters and mates ; and with Mr.
Shand deprecated the idea that the pilots were only to
reap the fruits of storms and tempests.
s .
h speee seconded e s the
byMr. Bs
resolution,i GE,..zi i wtih ic 1 wasandMr..
sup-
ported
A ir. jin
FISHER, E N
and lengthy
I N
carried unanimously. Mr. Bingham, in the
course of his remarks, described the reception which the
deputation who waited upon Mr. Cardwell met with. All
the remonstrances and arguments were listened to by Mr.
Cardwell, who, though he still expressed his adherence to
the whole bill, very smoothly, and quietly, and oilily
bowed them out. (Laughter.) Mr. Bingham, in the
course of his speech, pronounced an eulogium upon the
Pilot Committee. He had gone into it, at the request
of his friends, to seek and expose abuses supposed to exist,
but he found none. It would be impossible to find a
committee more active, devoted, and useful. (Hear, hear.)
' Mr. LOWNDES read the petition, a copy of which we
append :

TO THE HONOURABLE THE COMMONS OF THE UNITED
KINGDOM OF GREAT BRITAIN AND IRELAND IN PARMA-

MENT ASSEMBLED.
The humble Petition of the Commissioners of Pilotage of the
Port of Liverpool
SHEWETH,—That a bill has been introduced into your
honourable house, intituled " A Bill further to amend the Law
relating to Pilotage."
That, by the 10th clause in the said bill, after reciting.that,
by the Act of the 13th year of the reign of her present Otlsiesty,
cap. 88, provision was made for enabling a master or mate to
pilot his own vessel, without the assistance of a licensed pilot,
upon his passing an examination before or under the direction
of the proper pilotage authorities, and obtaining a certificate
as therein mentioned, but the institution of such examination
was left to the option of the said authorities, and that it was
expedient to extend and amend the provisions of the said act,
it is therefore proposed to be enacted that if, upon complaint
to the Board of Trade, it appeared to such board that any
such authority as aforesaid have, without reasonable cause,
refused or neglected to examine any master or mate, who has
applied to them for the purpose, or, after he has passed, have
refused or neglected to grant to him a certificate, the Board of
Trade may, if, in their judgment, the circumstances appear
to require it, appoint persons to examine such master
or mate, and, if he be found fit to pilot his vessel within the
limits for which he is examined, may grant him a certificate
setting forth the limits and the vessel for which he is certified,
upon such terms and conditions, and subject to such regula-
lations as such board may think fit, and such certificate shall
be in force for one year, and maybe renewed from year to year
either by the said authorities, in the manner and upon the terms
in the said act mentioned, or by the Board of Trade, if such
board so think fit; and all certificates granted under this act
shall have the same effect as certificates granted under the said
last recited act.
That, by the 17th clause in the propsed bill, after reciting
that it is expedient to give facilities for amending the system
of pilotage, and for reducing or otherwise altering the rates
payable in respect thereof, it was proposed to be enacted that
it should be lawful for every pilotage authority, by regulation
or bye-law made with the consent of the majority in council,
amongst other things, to fix, and from time to time to alter.
the rates and prices, or remuneration, to be demanded and re-
ceived by pilots licensed by such authority, or to substitute
other rates and prices in lieu of those for the time being de-
manded or received, or to alter the mode of remunerating
pilots, in such manner as such authority may, with such con-
sent, as aforesaid, think fit, so that no higher rates or prices be
demanded or received from the masters or owners of ships
than the rates and prices which might, if this act had not
passed, have been demanded or received : and to exempt the
masters of any ships or vessels, or of any classes of ships or
vessels, from being compelled to employ pilots, and to annex
any terms or conditions to such exemptions; and from time to
time to revoke and alter any exemptions so made, and to revise
and extend any exemptions now existing by virtue of any Act
of Parliament or charter, upon such terms and conditions, and
in such manner as such authority, with such consent ar3 afore,
mid, shall think tit.