The Sun.
London, England, 1855-01-06 00:00:00

WOOLLEN TRADE.

LEEDS, JAN. s.—The last market day in the old year
and the first in the new year are seldom of much busi-
ness importance. They have been merely nominal mar-
kets this year. On both days there was only a very alight
attendance of merchants, and the business done was ex-
ceedingly light. The trade in the warehouses has been
very quiet this week. The general occupation is the
important one of ascertaining the result of last year's
trade.
There has been very little in the state of the woollen
trade during the last year that calls for special retrospec-
tive remark. From the commencement of the year until
the middle of November a good and steady trade was
generally done. The home market furnished the prin-
cipal demand. Early in the year it was evident that
both the Australian, the American, and Canada markets
were well supplied, and hence the shipping trade has
been dull throughout most of the year. But notwith
standing this, the prosperous state of the country at the
commencement of 1854 has been quite sufficient to keep
up a steady and healthy trade throughout the woollen
district. It has not been so large as the trade in 1553,
but it has been done on an equally sound basis, and
hence there have been very few bad debts made hitherto
in Leeds. The most important failure in which Leeds is
involved is Messrs. Swain and Webbs, of Huddersfield,
and, with one exception, the debts owing in Leeds are
not heavy, bearing in mind the position of the parties
affected. A meeting of the creditors of Messrs. Swan
and Webbs was held at Huddersfield on Tuesday, when
it was agreed to wind up the estate under an assignment-
The balance-sheet shows that there are debtsowing to
creditors, 127,6191. 17s. 10d. ; less securities held by
them, 9,522/. Bs. ; total, 118,0971. 9s. 10d. The
assets are as fellows Huddersfield, 31,0301. 9s.
6d. ; in Melbourne, 32,8121. Os. 10d. ; in Sydney,
34,0771. 18s. 4d. ; total, 97,9201. 14s. Bd., leaving
a deficiency of 20,176/. 15s. 2d. The impression of the
meeting was that with time and care a moderate divi-
dend might be paid out of the estate.
The trade at the present time throughout the woollen
district may be considered in a satisfactory state. The
mills are generally in good work. Most of them are
running nearly full time, and the working classes are in
fair employment. But we believe the manufacturers are
acting very cautiously, watching the course of passing
events, and regulating their operations accordingly.
Prices throughout the year have been on the whole
steady. The stock of cloth in the market is at present
rather on the increase.

There can be no doubt that the war has to some ex-
tent contributed to keep up the woollen trade ; in the
districts of Stanningley, lleckmondwicke, Batley, Go-
mersall, &c., considerable employment has been given
in the manufacture of army clothing ; and as there are
some large contracts advertised, the probabilities are
that some activity may continue in this branch of the
trade. But while the price of corn and other provisions
are at a very high rate, and the principal foreign mar-
kets are glutted with our manufactures, and otherwise
deranged, the prospects of the trade cannot possibly be
either good or cheering. The general anticipation is
that we may have a moderate trade during the year, but
it will probably be one of great uncertainty, and subject
to many casualties.

MERCHANT SHIPPING ACT.—Under this important
act, passed during the last session of Parliament, it has
been found necessary to constitute a new office in the
Custom-house, but under the control of the Board, called
tho Department of the Surveyor-General for Tonnage,
upon whom, assisted by a competent staff, will devolve
the duty of accurately ascertaining the
.exact tonnage of
every vessel belonging to, or trading Iva, this country.
Service Ocr;cttc.