deemed expedient to enter into actual contracts for working mines until the association be formed, and the extent of its capital ascertained.

PROSPECTUS OF A WOOL-STAPLING

COMPANY IN SCOTLAND.

The quantity of wool annually produced in Scotland is estimated to be worth from two to three millions sterling. Three-fourths, at least, of this quantity, are exported into England, where it undergoes the process of stapling, by which the value of the commodity is raised about 30 per cent.

The process of stapling consists, substantially, in assorting the different qualities in the same fleece, according to their relative fineness, by which the fleece is generally divided into eight or nine different qualities; and it is always reckoned that the stapler sells the coarsest sort of wool at the same rate at which he originally bought the whole, the finer sorts, of course, selling at a much higher rate. Supposing the annual exports of wool from Scotland, therefore, to be only one million sterling, still 30 per cent. on that sum would amount to 330,000l., as the annual profits derived by the staplers in England from Scottish wool, at the lowest computation.

It has, therefore, been resolved to establish a company in Scotland, on the joint-stock principle, to be called "THE SCOTTISH WOOL-STAPLING COMPANY," with a capital of 200,000l. in 8000 shares, of 251. each; of which stock no individual or company will be permitted to hold more than eighty shares. And in order more effectually to secure the permanence and stability of the Company, it is thought it will be necessary to apply for an act of Parliament.

Among the advantages to arise from such a national establishment, besides

affording a good return to the shareholders for the capital invested, will be the securing a ready market, and of course a fair price, for Scottish wool; the putting an end to the monopoly in wool that exists at present in the hands of the English staplers; the gradual improvement of the wool crops throughout Scotland, and, consequently, of its woollen manufactures.

One of the objects of the Company, besides the purchasing and stapling of wool, will be to make advances to the growers, on wool stored with the Company, to bear interest till such advances are repaid, with the expenses of stapling, when the wool is sold.

The present scheme has met with the unqualified approbation of several landed proprietors and practical persons, to whom it has been communicated; and it is believed, it will only be necessary now to give it publicity to secure for it the support of a large proportion of the landed interests in the grazing districts of Scotland. The further details, as to management, &c. must be reserved for a General Meeting of the Proprietors, to be called so soon as one-half of the proposed capital has been subscribed. In the meantime, the following gentlemen have agreed to act as an interim Committee of Management, and for receiving subscriptions, viz. :—

SIR WALTER SCOTT, of Abbotsford, Bart.;

COLIN MACKENZIE, Esq. of Port

500,000, and several for 2, 3, and 400,000 florins. The amount of the sums inscribed in the space of thirtysix hours in the cities named by his majesty's decree is estimated at one hundred millions of florins. Such a result demonstrates two things: 1st, The enormous amount of capital in this kingdom; and, 2dly, The general confidence in this great operation.

An historical account of the Danish Asiatic Company has just been published. From the table annexed, we find that, from the year 1732 to 1745, seventeen ships sailed for China, and twenty to the East Indies. Their cargoes were worth 3,973,474 rix-dollars. The goods brought back in exchange were sold by auction for 7,470,761

rix-dollars. From 1746 to 1771, forty-nine ships went to China; their cargoes were worth nearly 15,700,000 rix-dollars. The sum realized out of the sale of the return-cargoes was 30,539,807 rix-dollars. From 1772 to 1791, forty ships went to China, and 159 to India; the value of their cargoes was nearly 21,470,000 rix-dollars; that of the returns, 71,660,000 rix-dollars. On the one hand, we here see with pleasure how important to the country this company once was, but it is painful to reflect how this trade has dwindled away to nothing in later times, and how the 4800 shares, which were formerly worth ten millions, are now scarcely worth half a million.

SWANSEA, January 9.-We congratulate our townsmen on the immediate prospect of the opening of the whole line of the New Canal, which is to connect this port with the Vale of Neath, and with the rich country eastward, up to the Brecon hills; it is now navigable through nearly the whole line, and may be expected to be in full action within a few weeks from this time. It extends nine miles in length, with a collateral cut of a mile on one level, without a rock, and passes under Neath Bridge, being separated from the river by solid masonry, over which the towing-path is carried; it is then raised by a single lock to the level of Neath Canal, which it joins by a stone aqueduct (of 10 arches) over the river Neath, connected with another aqueduct of iron over a navigable stream adjoining the lock, with a bridge across the canal, and the two aqueducts, present to the eye a line, measuring 170 yards in length, of the very best masonry, in causeways of stone from neighbouring quarries, not surpassed in quality by any in Great Britain. This work immediately adjoins the picturesque waterfall of Dylais, was commenced in May last, and has been executed without any accident, although the land floods have been remarkably high since that period; the mountain torrents rose to the caps of the arches, whilst in progress, without displacing a single stone. As a specimen of taste as well as of workmanship, this structure does the highest credit to Mr

William Kirkhouse, the architect and engineer, to Mr William Davies, the working mason, and to Mr William Williams, the working carpenter. Many other specimens of striking skill and judgment in these individuals may be observed through the whole line; the towing path (without a single gate) will tempt horsemen, by the shortest cut between Swansea and Neath, to enjoy the beauties of very delightful scenery; whilst those who prefer pleasure-boats will have full access to the like enjoyment, without the encumbrance of locks; and daily packet-boats will enliven the scene.-We have much satisfaction in adding, that any apprehensions, which some few individuals unacquainted with the whole design, may have hitherto entertained, with regard to their particular interests, have now, on better information, altogether subsided; all classes seem to unite in opinion, that this communication will produce great public good, whilst they cordially concur in the very liberal sentiments of the gentlemen performing the duties of harbour trustees, in respect of accommodations to the individual who has accomplished this work.

TEES AND WEARDALE RAILWAY.

Owing to the present prosperity which happily smiles on our native country, the spirit of public improve ment is everywhere diffusing itself. Amongst other undertakings of a local nature, is the Tees and Weardale Railway. It is intended to commence