20 AUGUST 1892, page 10

The Naval Manceuvres. T He Naval War-game For 1892 Closes On

Monday, when the vessels transferred from the Reserve to the Active Fleet for the annual sea-training are to be handed back to the "care and maintenance" crews in the dock-......

The Cotton Trade.

v HEN a trade is prosperous, everybody is hopeful and economic seers prophesy smooth things. But so soon as the inevitable reaction sets in, pessimism pre- vails, and the augurs......