it for a second market day--he has to pay a
demurrage of three-halfpence a ton, a demurrage, however, often submitted
to rather than the coals should be sold at a loss of a shilling per ton.
A bell rings at twelve, and all at once you see, by the sudden apparition
of merchants and factors from the surrounding offices, that business has
commenced; however, little is done till towards the close at two, the
factors till then holding out for high prices, and the merchants holding
back. I may add that there is very little speculation in this trade, all
is fair and above-board. In the rooms of the factors, as well as of the
merchants, is a daily list of what vessels have arrived at Gravesend,
with what amount of cargo, and what vessels are on their way, and how
many are going up to the north in ballast; thus the buyer knows as much
about the state of the trade as the seller--and as he thinks the factor
must sell before the market is over, he waits till the very last before
he concludes his bargain. At the end of the market, when there is a
heavy sale, people get a little excited. They are also rather more
numerous and noisy than when you first entered, and, besides the regular
dealers, a good many others are present: sailors out of curiosity,
captains who want to know who are the purchasers of their coals, and
where they are to deliver them to; general dealers, who do not belong
either to the Factor's Society or that of the Coal Merchants'; and here
and there a lady may be seen gazing with curious eyes on the groups
below. When the sales are effected, the broker pays the city dues--for
bulk must not be broken till then under a penalty of five hundred
pounds--and a gentleman attests the purchases, and publishes them in a
list, sent that evening to all subscribers as the real authenticated
state of the markets for that day. I may as well say that the
market-days are Monday, Wednesday, and Friday. By way of compendium, I
add, that the price of coals, as given in the daily newspapers, is the
price up to the time when the coals are _whipped_ from the ship to the
merchants' barges. It includes, 1st, the value of the coals at the pit's
mouth; 2nd, the expense of transit from the pit to the ship; 3rd, the
freight of the ship to London; 4th, the dues; and 5th, the whipping. The
public then has to pay, 6th, the merchant for taking it to his wharf and
keeping it there, and his profit; and, 7th, the retailer for fetching it
from t