Untitled

New Zealand Herald, Volume III, Issue 894, 25 September 1866, Page 5

A Romance oj - the XiVEBPOoi Exchange;- 1 — As an instance of the peculiarly speculative nature of some of the business which has brought about tlie present panic,, the following story in connection with one of the largest firms in. Liverpool will no doubt be read with interest:— The firm in question have recently compounded with their creditors for a sum under 10s.. in thepound, and even this will haye.tp bepaia), a. five* instalments extending over about eighteen ittontlis.. There is however just a probability that theymay again be placed in a position to resumebusiness, and pay their debts in full. It.appears that their chief losses being in. cotton,, which is now, of course, relatively at a great depreciation,. They purchased some time ago, either in America, or Egypt (it. matters not. which for our readers*' purposes) a vary extensive shipment of cotton at about the highest price of the market at that time, The cotton was insured to its full.yalue> but the ship on board which it was. stowedi, though considerably has not. yet arrived in this country. If. the; vessel-is .lost, therefore, the underwriters will, have to pay over the full marketable value of the cotton, at the time it was purchased, and the firm,: will; be enabled, not only to pay their debts in full,; but I'to. realise a handsome surplus. : Should; the vessel and her cargo yet arrive m Csafetyy .the firm will be compelled, to adopt the composition above described.. Persons at a distance.; from the centres of commercial (excitement" and speculation can. perhaps hardly realised the effects of a sudden depreciation or rise in cotton,, a vessel which recently arriVedia Liverpool from Bombay, laden with cotton, the depreciation in the value of this single cargo amounted to £03,000. — Liverpool Mercury, ■ Cabbage has been/ discovered, says the Australasian,, that an application, of oil kills cabbage blight. That journal says' :-f-"The ■ effect was precisely as we before applying the oU. with a. feather, the insects instantly turned tp.a.blact colour: andfdied. Salad oii was used on.tnis occasion, but any. other description of oil .would, doubtless, have the same effect. With ordinary /exertion,: weshould suppose that one/maii'wouid/be able to.attend to inany thousands ,of plants.iha;:c6mparatively short tiihfe, Probably.much )]ab6OT;woiild:':bjS. saye'd if/the'oil were applied: to t£e young plants before being transplanted..' We/strongly, recom-. mend all?- .parties)' whose gardens; are affected. With aphis- at..once,. : to) try.the experiment*, aiicl are certain/that the first toalwill coaviac©tb,eni Qfitaremedial effect;'*