arrived safe the insurance was saved.

"Mr. Archibald Campbell, about this time an extensive Glasgow merchant,
had allowed one of his ships to remain uninsured till within a short
period of her expected arrival; at last, getting alarmed, he attempted
to effect insurance in Glasgow, but found the premium demanded so high
that he resolved to get his ship and cargo insured in London.
Accordingly, he wrote a letter to his broker in London, instructing him
to get the requisite insurance made on the best terms possible, but, at
all events, to get the said insurance effected. This letter was
despatched through the post-office in the ordinary manner, the mail at
that time leaving Glasgow at two o'clock p.m. At seven o'clock the same
night Mr. Campbell received an express from Greenock announcing the safe
arrival of his ship. Mr. Campbell, on receiving this intelligence,
instantly despatched his head clerk in pursuit of the mail, directing
him to proceed by postchaises-and-four with the utmost speed until he
overtook it, and then to get into it; or, if he could not overtake it,
he was directed to proceed to London, and to deliver a letter to the
broker countermanding the instructions about insurance. The clerk,
notwithstanding of extra payment to the postilions, and every exertion
to accelerate his journey, was unable to overtake the mail; but he
arrived in London on the third morning shortly after the mail, and
immediately proceeded to the residence of the broker, whom he found
preparing to take his breakfast, and before delivery of the London
letters. The order for insurance written for was then countermanded, and
the clerk had the pleasure of taking a comfortable breakfast with the
broker. The expenses of this express amounted to L100; but it was said
that the premium of insurance, if it had been effected, would have
amounted to L1500, so that Mr. Campbell was reported to have saved L1400
by his promptitude."

"At the period in question a rise had taken place in the cotton-market,
and there was a general expectancy among the cotton-dealers that there
would be a continued and steady advance of prices in every description
of cotton. Acting upon this belief Messrs. James Finlay & Co. had sent
out orders by post to their agent in India to make extensive purchases
of cotton on their account, to be shipped by the first vessels for
England. It so happened, however, shortly after these orders had been
despatched, that cotton fell i