The Express.
London, England, 1857-12-26 00:00:00

STATE or TRADE

(Prom the Ifachester Chanties of this day.)
MARKETS FOB MAPITIFACEDRES.—There Iran
observable on 'Change yesterday (Thursday) some-
what more of that disposition to believe that we
have passed the worst, and are approaching a
better state of things, which showed itself last
week. We also find some sellers 'peaking of
rather more briers' or offers on inquiry. There is
however more of the last than of either of the others; and
much of the inquiry is made merely with a view to ascertain
=tenons. We have always an increase of this when the
d mail is telegraphed, and alsojnet at the period of stock-
taking. Many ermine, manufacteirem, and agents, however,
complain that they do not meet with any of these signs
of better things, but remain as Bat, sad are just as unable
to sell, as at any time during the last week or two. Al-
though, however, not a few are nacoeseiousaly trying to per-
suade themselves into a favourable view, we gather that some
of the indications referral to are real. Partially, a little
mon Is being done in goods • for instance, in long.clothe sad
certain kinds of 36-inch calicos. Prices remain as they were.
Two or three Witten in the print trade have occurred, and
one connected with the Levant. The amounts are small.
(Prom the loaf Mercury of this day.)
WOOLLESO.—Leans.--We have bad no alteration of
any consequence In the trade during the current
week. A few buyers continue to visit the market,
but they purchase nothing of any moment, and the ge-
nial tone continuer exceedingly dull. Stock-taking will
DOW absorb the remainder of the year, and nothing
more in the way of bunnies need be evened during
the next week at so. The reduction In the Bank of Eng-
load's rate of discount gives universal sande:lion. It will
loosen the springs d trade, and we have confidence that •
sewn of grad improvement improvement will now take plaos.
(From the thefordokin dg
d this day.)
POTTZIIIII.—Ths sauce moot the millers and forgemen
employed st the MUDD works Ras Potteries end neigh-
bourhood, sad which at one period last week threatened
eertway to disturb the sees of the district, swats to be
DOW chiefly eoellned to the men engaged in the fr'OD trade.
lon Saturday the hands employed at the extmetve iron-
works at Lidsgrares " struck" against the proposed re-
daction, so that in the meth of the district, inclading the
Re 'medals Works, there must be, it is said, at least 1,000
persons out of employ In the Iron trade. The hands at the
Shelton liar Iron Company's works are alio ont ; but the
'Wm amongst the Whin generally may be mid to have
tseiminated. The colliers at Langton and neighbourhood,
many of whom bad gone in het week, and would doubt-
less have oceetinoed at work If they had tot been so
Improperly intardered with by a body of the turn-outs
from , have now generally mennaed their employ
meat. The Name remark applies to the men at the collieries
of Earl Granville. On lloadey worming a number of them
presented themselves at the " Big Pit," with the intention of
going to work, bat it was not convenient, in consequeon of
repairs being carried on In the workings. Om Wed-
nesday morning, however, work was resumed, though
not quite to time usual extent. A correspondent from
one of the Pottery towns, lamenting the great loss
and inconvenience occasioned to their (milieu end
others by the caseation from labour of es large a
number of workman, sem in a conversation he had a day
or two since with the principal of a large tore concern in
the district, the latter obeerred "that the mono refusal to
work at this time was doing him a great service, for if they
were willing to work he had no orlon for them to go on wan
and if he found them work it would be for stock, and with th,
a
°Widow abase by It," and this, rye the wetter, is proba-
bly the ems with ether imam.
The deportee which generally wvades the manufse-
taring trades of the district b f the continued
decline in the price of metals. Os Monday a further
reduction woe announced in the price of tin d de. per
cwt., making the fall in the pries of that metal 264 per
ton in little more than two meths. The prios of common
block is new lOU. 6d. ; refined blocks, -ills. 61. per cwt.
To the list of failure. previously published must now be
added the names of Molars. HodgEts and Soma, of West-
bromwich, sad Messrs. Fletcher Brothers and Green,
of Birmingham. The total failures in the iron trade
within shoat six weeks in this district amount to
twenty-one, making a total of liabilities of very little
duet of a million, and a total loss of eery nearly one-half.
L rely two of these failures, Means. Sony and Mr. T. H.
Pemberton, are the creditors to be paid in full, after
welting some time for their money. The statement made
by Mr. George Robinson, who haa been appointed enmities
solicitor to the Wolverhampton Bank since its stoppage, at
the meeting of the creditors of Messrs. Wright and North,
indicating the principles on which that bank will act with
respect to insolvent firms, will be read with interest. The
bar, on behalf of It. shareholders, cannot engage to wind
up at one to every came where blame may attach to firms;
they must act so as to make as much of the esteem as pos-
sible. They cheerfully accept such offers as those of
Messrs. Golly and Mr. Pemberton, who promise, if allowed
time, to pay in full, and the state of whom affairs
_gives
satisfactory ground far believing that they are able to
accomplish this, and are prepared to mid them fa their
Worm. Where, in the conduct of Minnow, such forms-
demos or digressed to integrity has been shown r
destroys all confidence, or where anything like preference or
concealment has been shown, bankruptcy is the only alter-
native. When the losses have been so great that the firm
has left neither capital nor credit to form a bane for future
operationa the bank will insist upon such affairs being
at once wound up; on the common-senso principle, that
business cannot be profitably carried on without capital,
and that attempts to bolster up such firms would only lead o
renewed and increased losses. In other cases, in which them
is milling property, which has been opthM by the capital of
the creditors, and is capable, if worked properly, of paying all
the liabilities of the firm in the course of a few year', they M-
ein upon this being dons, or that the estate, shall go into
bankruptcy.

(From the Leiesten Aswan/ of yesterday.)
Taa HOBIIIRT TRAMS or LEICISTZIL.-111111111k nothing
bet mock-taking going forward in the warehouses. Beninese
completely oat of joint, and perhaps we never experienced
a Christmas when commerce was in a more penetrate state
than at present. There certainly can be no immediate change
for the better whilst every day's news bring account* of
fresh failarea, the sleet of which cannot yet be ascertained.

We regret to announce that an old Bristol house,
that of Yr. Ormadde, comfactor, has beau compelled to
succumb to the meat pressure prevailing ha the mousy
market, his creditors having received from him au intimation
that ha in usable to meet hie esgsgememta. HL liabilities,
is ►ear, amorsat to about 26,000.0.--Brirtal lifrreery.

RAILWAY RECEIPTB.—The traffic returns of run-
ways In the United Kingdom for the week ending De-
cember 19, amounted to 415,340/., and for the corre-
sponding period of lest year to 428,9001., shoving a decreer.
of 13,6601. The gross receipts for the eight railways having
their termini in the metropolis amounted, for the week end-
ing as above, to 178,0661., and for the corresponding week
of last year to 181,4451., showing a decrease of 3,3891. The
decrease on the London end North Western amounted
to 6,4891. ; on the London and Blackwell to 241. ; on
South Elute, n to 679..; total, 6,0921. But from
this meet be deducted 1801., the increase on the
Eastern Unmake, 6961. on the Great Northern, 1,276/. on
the Great Western, 3/. on the London, Brighton, end South
Coast, and 6491. on the London end South Western, together
2,7o3l4kaving the decrease so above, 3,3891. The receipts
ea the other line* in the United Kingdom amounted to
287,2841., and for the corresponding period of 1866 to
247,6451., showing a durum of 10,1711. in the receipt* of
those lines which added to the decrease on the metro-
politan line*, makes the total decrease 13,6601. as compared
with the corresponding week of 1866.
GREAT WESTERN TRAEFIC.—TheD3 is no ques-
tion now that the &side for this half-year will he Rill
35,0001.1 n excess of that of the corresponding period last
yaw. Under the dreumeterioes such an amount of Increase
is very setkleekty. It indicates that the increase will be
kep who& sediarry times return. It is a good sign of
future selmseemeat for the Great Western that the tmffic
of the peering wedge continues to increase while that of
most other lines decreases. This week the traffic is 28,2471.
mrsinat 26,9734 for the corresponding week last year.—
Sersped.
GREAT WESTERN AND SOUTH WESTERN RAIL-
WAY* COMPIIIITION.—We have been given to understand
that the competition between them companies for the Wiry-
month traffic, including, of course, that of the Channel
Islands, results in a loss to the latter company of something
Mks 2001. a week, or at the rate of 10,0001. a year, and to the
former company of 4001. a week, or at the rate of 20,0001. a
year. Have the companies no mutual friends who can step
in between them, and put an end to so costly a game --
Esrpata.