The Sun.
London, England, 1864-10-01 00:00:00

STATE OF TRADE.

MANCHESTER, Sept. 30.—The slight improvement on
Tuesday was only of a very temporary character, and the
yarn and cloth markets have since continued to decline.
The failures which have taken place, with rumours of an
unsatisfactory character respecting others, have almost
caused a suspension of business to-day. A house in this
town which bas been spoken of this week past is said to
have given notice to-day that they ere in a position to meet
their engagements, an.l this has considerably relieved the
apprehensions prevailing. Another failure has been spoken
of connected with a London house, but it had been long
anticipated, and has not caused much surprise. In shipping
yarns we have had no business to-day worth naming, and
prices are still in favour of buyers. During the week there
have been several attempts at business, but the rumours
of fresh failures from day to day prevented any operations
of magnitude resulting. In home trade yarns the market is
worse than on Tuesday, both as to business and prices.
Prices generally are rather in favour of buyers, and in-
stances have been spoken of in which manufacturers have
purchased yarns at 91d below the late highest point. Cloth
has continued to droop since Tuesday, making manufac-
turers more than ever anxious sellers. The sales made to.-
day have been small, and at lower prices. Stocks have been
a good deal cleared out, and the preparations for closing
mills are spoken of in all directions. Thousands of mill
operatives have been already thrown out of work in all the
larger manufacturing towns, and are applying to the guar-
dians of the poor and the relief committees for assistance.
Further on (towards the middle or end of October) it is
expected the distress from the closing of mills will be much
intensified. Such of the spinners arid manufacturers as are
running out of orders will only consent to run where they
can get pre-engagements. None of them appearwilling to
work to stock in a time of such severe depreciation as the
present.

CARDIFF, 29th.—A considerable amount of activity con-
tinuos to be evinced in the iron trade, and the works are
in active employ. The advance in quotations for bars is
sustained, and some predict a further rise. There is a good
inquiry for rails as well, and makers will not accept an
order under the current rates. Some specifications find
their way to the district owing to the turn out in Stafford-
shire. Steam coal is in more active demand than has been
the case for many months, more especially on home account.
Contracts have been entered into for supplying several of
the Staffordshire works for two and three months to come.
This circumstance, coupled with the brisk export inquiry,
imparts increased firmness to the trade, and there is but
little difficulty in obtaining the current quotations. The men
are now working with regularity, and the agitation for a rise
has completely died away. House coal commands a good
sale, and merchants are, as a rule, well supplied with orders.
Coasters are, however, still scarce, and orders are in conse-
quence ser;ously delayed. The usual activity is evinced at
the shipbuilding yards, and the men are on full time.

-
LEEDS, 30th.—The following is the trade report of the
Leeds Chamber of Commerce for September:—" The busi-
ness done in the woollen cloth-halls during the past month
has not been so large as in August, principally owing to the
advanced season. In the warehouses a tolerably- good busi-
ness has been done. The manufacturers in the district have
been well employed. There is no new feature to note in the
foreign wool market so far as regards clothing wools. Con-
sumption is going on steadily. The recent failures have in-
duced great caution, and manufacturers confine their pur-
chases to absolute requirements. At the late Liverpool sales
East India wools gave way in price. There has been very
little done in English wools. Spinners, under existing cir-
cumstances, hold aloof, and to effect sales a reduction of
about 2d per lb on last month's rates must be submitted to.
The flax trade has been unusually quiet, and but few trans-
actions have taken place. Tows, especially finer sorts, have
been more in demand, and prices are without much change.
;-Temps remain as before. The spinners are fully employed,
principally on former contracts, and but few new transac-
tions have been entered upon. Prices continue to be quoted
as before. The turn out in the iron trade is now practically
at an end, and the great majority of the men have resumed
work. The long cessation of work has caused orders to ac-
cumulate to some extent, and makers of iron are therefore
busy, with a prospect of continuing k o for some time to come.
The locomotive and railway plant makers continue to be
well supplied with orders. The leather trade has in its main
features been very similar to that of last month, and chiefly
characterised by great steadiness in the demand, as well as
in the prices. The supply of heavy solo leather has been
fully equal to the requirements of the trade, while in
lighter sorts the sales have been in excess of what has come
to market. Dressing goods have been in request, light ave-
rages selling on arrival. Calf skins of all weights have been
scarcer, and are dearer, and offal, both light and heavy, has
been much wanted, and realises full rates. Crushers have
been actively employed during the month, and notwith-
standing the high rates for money, prices of rapeseed have
not materially changed in value, as the continental crop has
certainly not exceeded two-thirds of an average. Linseed
has slightly receded in value, owing to the rains, and con-
sequent moderate demand for cake. There is no change in
the price of olive oils, and a fair Lusiness is doing in them.
The shoe trade continues good, and all the hands are fully
employed. There is a fair demand for most descriptions of
paper, but the makers still suffer from the scarcity of mate-
rial, although new substances are used to a considerable
extent. There has been a moderate supply in the cattle
marker, and the demand has been on the whole fair. Num-
ber shown (four markets)—cattle, 1,837 ; sheep, 11,950.
There has been a good supply of corn, but the demand has
been small and the trade generally dull. Wheat has fallen
about 6e per qr, barley from is 6d to 2s. Oats and beans
are without much change. It is most satisfactory to be able
to report that, although the Leeds Banking Company has
suspended payments, owing, as stated in the report of the
committee of shareholders, to recklessness on the part of the
mana-er and negligence on the part of the directors, the
prosperity of the trade and the soundness of the commercial
and manufacturing classes of the town and district are not
in the slightest degree affected, the loss and inconvenience
being confined to a few mercantile houses implicated in the
bank, or who had business with it, the latter class readily
finding in other banking establishments such temporary aid
as they require.

NOTTINGHAM, 29th.—There:was rather more inquiry for
lace yarns at the Exchange-hall to-day, and sales were made
at fully recent currencies. The demand for hosiery was
slow, and recent prices were for the most part made. In
silks very little alteration took place. Brown nets were still
a slow sale, but there was no quotable alteration in prices.