TRADE OF GREAT BRITAIN AND THE UNITED STATES.

COTTON, BREADSTUFFS, PROVISIONS, ETC.

The British Board of Trade returns for the first quarter of the present year indicate that notwithstanding the apparent slackness which has existed in Great Britain for the last few months, the export trade of the country is still quite satisfactory. In comparing these figures, however, with those for 1866, it should be remembered that the trade of the United Kingdom last year was more than usually animated. Very large purchases were then being made by ourselves, the declared value of the exports to United States ports, in the first three months being as much as £8,000,000, against only £3,000,000 in 1865. This year, in the same period, the shipments have reached a total value of £6,113,600, so that, as compared with 1866, there is a dimunition of nearly £2,000,000, but as compared with 1865, an increase of rather more than £3,000,000. Neither of these comparisons, however, can be considered fair, for during 1865 our purchases were much below the average, while last year our merchants were taking more than an average supply. If therefore, we extend the comparison to the year of 1864, we shall find that the declared value of the exports of British and Irish produce and manufactures to the United States was £6,500,000, showing a dimunition this year of £400,000 only. This country still ranks as the best customer that England possesses for her manufactures, nearly one-fifth of the total shipments being on United States account.

The principal decline in the exports to this country in the first three months of the present year is in cotton piece goods, which show a falling off to the value of £410,000, in linen piece goods £46,300, and in woolen and worsted manufactures £789,000. Haberdashery and millinery, cutlery, linen thread, bar iron, wrought iron, iron hoops and boiler plates, tin plates, silk manufactures, and alkali, also exhibit a considerable reduction; but, on the other hand, there is an important augmentation in the shipments of railroad iron, the increase in the export of this article being nearly £233,000. In the annexed statement will be found all the leading articles of export to the United States, together with the aggregate value of these shipments hence during the first three months of each of the last three years:

EXPORTS OF BRITISH AND IRISH PRODUCE AND MANUFACTURES TO THE UNITED STATES FROM JANUARY 1 TO MARCH 31.

In the first two months of the present year, the total computed real value of the principal imports into the United Kingdom was £24,281,084 against £26,457,723 last year, and £19,253,701 in 1865. Of these the value of the cotton imported was as under:

The import of cotton in March was 883,840 cwt., of which 512,988 cwt. were from this country, 228,871 from Egypt, and only 50,521 cwt. from the East Indies. The total supply received last year was 872,827 cwts., and in 1865, 621,673 cwt. For the first three months of the present year the imports were 1,815,219 cwts., against 2,026,409 cwt. in 1866, and 1,433,274 cwt. in 1865. Annexed are the particulars of these imports:

The exports of cotton during the three months have fallen off to the

extent of 188,000 cwts., while as regards cotton goods there is a decline of about 40,000,000 yards. The following statement shows the extent of the exports of cotton and cotton goods to all quarters, from Jan. 1 to March 31:

At the date of our latest advices, the wheat trade in England was very quiet, but very firm. This arose out of the circumstance that a considerable inroad had been made into the stocks of old wheat, which had been held over from the fine harvests of 1863 and 1864, but as the weather was fine, and as the harvest prospects were good, while the imports from foreign countries were on such a scale that supply and demand were pretty equally balanced, millers exhibited great caution in making purchases, and hence the quietness of the trade. So long as the state of the weather justifies millers in believing that a good crop of wheat may be anticipated, there seems to be no doubt but that they will continue to pursue their present cautious policy. It may therefore be expected that, with the prevalence of fine weather, the wheat trade in England will assume a position for several weeks quite devoid of interest; but if unfavorable weather intervene, between now and harvest, there seems to be room for a considerable rise in prices. In the Board of Trade returns, this country still continues to exhibit a very inferior position with regard to our shipments of cereals. In the first three months of the present year, out of a total import of wheat of 6,061,852 cwts., 2,789,245 cwts were received from Russia, 901,117 from Prussia, and only 508,244 cwts. from this country. The total import of flour was only 885,183 cwts., being nearly 1,000,000 cwts. less than in 1866, and of this quantity only 59,560 cwts. were received from the United States. The annexed statement shows the imports of cereals into the United Kingdom from January 1 to March 31, 1865, 1866 and 1867:

IMPORTS OF BREADSTUFFS INTO THE UNITED KINGDOM FROM JANUARY 1 MARCH 31.

A decline has taken place in the value of these articles during the present year, and although prices are still high, a gradual downward movement in the quotations is perceptible. The imports in the three months had been :

The imports, exports and consumption in the three months ending

31, were as under:

The annexed particulars relate to American shipping, so far as regards the United Kingdom, during the first three months of the year.

VESSELS ENTERED FROM AND CLEARED TO UNITED STATES PORTS.

Occupying the centre of the Lake Shore Line of railroads, and being the outlet for the Western markets generally, the Cleveland, Painesville and Ashtabula Railroad may fairly be considered as the northernmost stepping stone between the new and old States, and as such, one among the most important works of the Union. At Cleveland it receives the travel and trade from Chicago, St. Louis and Cincinnati, and extending thence 96 miles to Erie, it is continued to Buffalo by the Buffalo and State Line Railroad, and from Buffalo by the Central route to the seaboard at New York and Boston. As it is one of the most important of our railroads, so has it been one of the most profitable to its stockholders, and hence its stock being held for investment, is seldom quoted in the markets. Its real value, however, will be best understood by a careful study of the figures which represent the company's business for the last five years. The amount of the gross earnings of this road of less than a hundred miles, and the working expenses yearly have been as shown in the following statement:

The amount of interest and dividends paid and other disbursements, in each of the above years, was as follows:

*The surplus of this and former years was distributed in stock to the stockholders to the amount of $1,000,000, being a 25 per cent. dividend.