The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-27

whereby the 20 aud influence OF Great Britain were
re-esabshed tina, dependency and hopeessness whch
had for many weeks dar kened the horizon, at once
dspelled and in place of the dshearenng anxiety
before existing vivid antcp atoms oil future adN az
once arose New markets and ppying the wants of
millions OF individuals hitherto shut out from European
intercourse, opened idea TO our view, by which
Tot only the previously over-smu lated manufacturing
energies o. the nation mig ht hnd present relief but where
ample space was TO be shorded Tor further development
and still more Increased activity, and people almost
known TO to become tributary TO the industrial
powers OF this country These expectations still CONT
nue., and by their force have given an impulse TO all
branches trade and manufactures and though the ardor
has evaporsed which disng the operations Of
hst three weeks succeeding the receipt OF the ntell
gence Che sales in that period being 100 600 bales) and
though the first ebuton having subsded there has been
partial reaction general appearances have greatly i'm
proved and the prospects of the country again most
animang. Property wh1h before was worthless has re-
covered value and hope has succeeded 10 what short
time since, was comparatively despair. One OF the eau
SEES and not the least the suffering of the last few
IN trade has been the mode in which the joint stock banks
have conducted their proceedings. Founded originally
upon ajust principle of aordng greater security to the
public they havein some degenerated into lnsru
ments of privat obbng and been welded mainly to fur
ther the personal advantage OF directors the properly OF
feed to individual purposes This subject been Of
ten alluded to, and matter so universally conceded
that had not the general breaking up OF the oaS OF MAN
chester in October last again directed public attention to
the subject would have been unnecessary again TO revert
to the iRjurousness of the system 1t will be recorded
hereafter example of most extraordinary incompe
tency that the establishment in question in, the short
space twelve years. though founded by parties of the
highest responsibility, and consisting of most unexcep-
tonsbe proprietary involved itself in losses 10 the extent
OF fyDOcO whilst by deviatiops from the right principles
banking and by looking to the payment of dividend
the paramount consideration, manufacturing establish.
ments OF various kinds wero called into existence unne
cessary whereby, in raising undue competition the for
tunes OF the legitimate and prudent trader were wholly
destroyed Though perhaps one ofthe worst OF its kind
the institution alluded TO is only type OF others OF SINH
lar nature, and whilst joint stock banks faithfully admi.
nered and and conducted upon correct principles espe
cay as they have been in this town. will be found 10 be
great utility to trads there is doubt particularly
where they have the OF issue they tend at times
create financial embarrassment and difficulty But apart
renectIonS,
great question: and only affect indirectly though the
of banking partske of the naure of public well
private injury, have in conclusion to consider
what under all the bearings of the case may be
fairly looked upon probable direction and charac
ter of the Cotton market during the coming year. And
here behoves from the experience OF the past not to
be too much elatea sanguine to imagine that
after long period of endurance and suffering, and
with much capital annihated, entire restoration
can al once be witnessed The return to state of health
after complete prosration may be slow and tedious
but all the elements of amendment apparently at work
satisfactory Money singularly and unprecedenedy
plenuiulhe Bank of England having by the last return
upwards of ten millions of spece in its coers-the stocks
goods and hand circumscrbed and though
old of demand and accustomed markets have been
nJudcously closed others that and promising
have, the other hand been opened. Peace not
likely to be disturbed and least all with those countries
which in commercial point of view, most essential
TO The points in dispute that threatened most serious
y TO interrupt the harmony existing between Great Bril-
tain and the United States are it is be hoped for
set at rest by mutually conceding treaty and there
expectation that the tariff in force operating
against British manufactures will be rescndsd Prices of
has been modified that the pressure part removed
from the poor to the comparatively richer classes All
these circumstances seem 10 indicate moderate but sea
dy advance IN price during the coming year. the only
contingency adverse to such effect being excessive
crop in the United States whereby the market would
tinue to be so amply supplied as to illustrate all cacula
tons OF improvemen in price, Such chance is undoubt
has been upon the whole favorable one Yet the
last aivces state that by of frost the picking had
nearly terminated and if this be the
BILE TO look for crop exceeding 900 900 bales or an
not than sufficient TO meet the probably
creased consumption The quality of the cotton arriving
isalready beginning be so inferior justify the truth
of this estimate and TO negative the idea of excessive
growth the miscalculaons which fallen into last
year upon this subject being such as ought to make
us dstrustful of statements which set forth in
the early part of the season. frequently either upon
vague grounds or from interested motives. II is |
true that up to the last dates the receipts into |
the ports had been very large, but this it is |
commended is not decisive indication OF crop, since in
the year 1899 the year the largest growth known
the receipts into the ports at the time only differed
from those 1885, the Of the smallest growth by
10 $50 bales whilst ultimately the crop found to
exceed the other by no less than $40 900 bales Not
derrsting however the possibility that all our anticpa
tons may prove erroneous and that very unexpect
ed occurrences may derange the whole tenor of
sonng convert what is now only encouraging con.
lecture into its opposite certainty yet far ordinary
foresight determine there to look
20 toresee in their steady course compensation for
those disasters which during long period have de-
pressed and paralyzed the commercial world.
LIVERPOOL CorroS MARKET, Jan. 2.-To-day being
part holiday have not had much business doing, the
sales only amounting to $500 bags There change
Jan. 3-There change in the tone of our market
to-day The sales amounted fully 5000 bales of all de
criptons the prices being the same Friday last
The market closed steadily
The cotton trade has partaken OF the improved feeling
which exists The average weekly sumption, during
the year. throughout Great Britain has been 30 35 bags
of which H. LIS have been American The imports show
an increase OF llODO American during the year as com
pared with the preceding while the stock is estima
ted at an increase OF 600 bags The cotton crop
reaching this port in large quantities from New Orleans
Mobile, Charleston, Savannah, and New York and the
belief general that it will reach two millions two
millions and quarter of bales, of which million and
quarter the least may be expected to reach this coun
try The PROSTATE condition OF the cotton trade in the
manufacturing districts of late has kept the price of the
rawlmaeris very low but has reachedts minimum,
in all probability, and better rates may speedily be
looked Tor.
LIVERPOOL CoRS MAnKET, Jan. 3-The arrivals into
this port since Tuesday last comprehend chiefly, lim
ted quantity of wheat fair supply OF oats and flour from
Ireland During the same period the imports from abroad
Canada and Egypt Influenced by the improvement in
London yesterday the trade for all descriptions of wheat
at our Corn Exchange this morning, exhibited frmer
aspect than OF late amendment generally of about
I'd per 20 lb the of this day senght the ad
vance, however not being freely paid and having very
few country mlers in attendance the operations the
whole in amount only moderate States and Cana
dian -four difficult OF sale but Irish in mode
rate demand, with little variation from the terms noted on
Friday.
LIVERPOOL ToBAcoo MARKET, Dec SO-There has been |
an extensive demand this month and the sales amount
1858 hhds Of which 46s Virginia leaf, 46i stemmed
235 Kentucky leaf 500 stemmed end Maryland or
for expectation by trade and 200 for resale OF
the Kentucky leaf Sold about $50 by sample, OF to-
lying in London the stock OF this kind being ex
hausted here Virginia leaf steady; stemmed have ad
vanced I'd per 10 this month and nearly Id within
the last three Kentucky leaf steady; stemmed
have however, receded in value Ito I'd per ID. The i'm
port the month has been O94 hhds and the deliveries
LISP hhds Of which 366 were for home use Ill coast
wise III expectation and 46s for Ireland The import
OF the year has been 2e hhds OF which 2605 Vr
gnia leaf 900 stemmed 623 Kentucky leaf 2s7
med and Dutch leaf there also unssmpled but in.
cuded in the import and in the stock 70l hhds of which
from Virginia, and 500 from New Orleans The
Of hsF Hova hHG fxrht
manufacturers o36 sent cosswise 3es for
portstion and 1879 for Ireland The sales of the year
amount 4o3 hhds against sal in 1884, and II 632 in
lS40. They consisted of 1886 Virginia Leaf 223s
med 342 Kentucky leaf, 34sO stemned, 80 Marylsnds,