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

STATE OF TRADE,

MANCHESTER, Dec. 3L—We have had one of the most
excited markets for yarn and cloth known here for a long
time past. The staternefit telegraphed here to-day that
the stock of cotton at Liverpool in excess of the ordinary
returns does not exceed 18,000 bales has taken every one
by surprise. , The matter had been previously discounted,
and there was but one opinion, that the excess would be at
least 100,000 bales. Whatever credit people may be dis-
posed to attach to it, there is no doubt of its effect on the
market. The yarn-market has been very excited, and
most of our spinners have been asking id. per lb. advance
on the rates of Tuesday, and, indeed, upon the prices they
would have accepted yesterday. The advance asked by some
spinners is as much as 2d. per lb., and the market for ship•
ping yarns closes buoyantly, with a decided tendency to
further advance. The rise in prices has checked business.
It is believed that but for the higher rates some considerable
sales would have been effected, For cop yarns a very ex-
cited market is also reported, Sellers are generally asking
ld. per lb. higher, with but little offering. The advance in
yarns, with a reported advance in Liverpool of ld. per
lb. on cotton, has not been without ha effect on the cloth
market, though a fair amount of business has been done. On
India shirtings an advance of 6d to 9d per piece hes been
obtained, and in some instances rather more, as compared
with the depressed rates of Tuesday. For 71b. shirtings sales
have been made at 18s per piece. The advance on other
goods has been in the same proportion ; but many people
have withdrawn their stocks and decline to name a price.
There has not been much purchasing for the home trade,
the business having been chiefly among shippers. There
is a general opinion that the sudden aad unexpected rise in
prices to-day will decide many of our spinners as well as
manufacturers, who had not made up their minds upon
stopping their mills, as the change comes very inoppor-
tunely upon the recent bad accounts from the East. A
spinner received a telegram from Liverpool to-day stating
that the cotton houses had advanced 1/d per lb. since yes-
terday, and people so situated, with a prospect of their
goods, if turned off the spindle, having to go into stock,
naturally feel disposed to show some hesitancy about
going on. We hear of one of the largest firms in the
district of the spinners and manufacturers (a firm using
a large amount of cotton, because makers of heavy
goods) having given notice to close, but stating that
they will advance their workpeople three days' wages per
week.

BRADIIORD, 31st.—The last market in the year shows a
somewhat improved state of things. The cotton-market is
a little more buoyant, and it is now pretty well known to
what extent failures will affect tha trade, and these causes
tend to restore confidence. Thew have been more inquiries
for wool during the last two or three days, and transactions
are more numerous to-day. There is greater firmness in
pries, but no advance. Quietness still prevails in the
worsted yarns. The export houses are still influenced from
operating by the unsettled state of the German question.
Still, there are more inquiries for Russia and. Germany.
The home trade is pretty good, and though not many new
orders are given for autumn, spinners contine pretty well
employed on old contracts. Business in pieces is very
limited. Still, there is great cheerfulness and confidence
pervading the market.