The Sun.
London, England, 1864-09-03 00:00:00

STATE or TRADE.

MANCHESTER, Sept. 2.—ln the cloth market to-day eel-
rers report trade as flatter than ever. They say there is an
utter stagnation of business—an indisposition on all hands
to buy. Offers of any kind are hardly obtainable, and, while
they quote no difference in prices, they say there is not busi-
ness sufficient to test them. 'While the market has been
depressed, the transactions of the day have been as nearly
nothing as possible. This applies to cloth for all markets.
Although the advices from India on Monday were so en-
couraging, reporting an advance of 3d per lb on yarns at
Bombay in 14 days, and of is to is 6d per piece on cloth,
the market here to-day is worso, both as to prices and feeling,
than it was at the beginning of the week. In shipping
yarns the same activity prevails as on Tuesday. Prices are
not particularly depressed. Spinners are closing their mills,
who are coming out of contract, in preference to working to
stock. In home-trade yarns the market has also been
stagnant, with prices irregular and quiet in the buyer's
favour. Messrs. Du Fay and Co., in their monthly trade
circular of yesterday, speak of stocks as being greatly re-
duced in the markets of India, and says :—" In other dis-
tant markets consumers are gradually accustoming them-
selves to the higher range of prices which reduced supplies
have commanded and facilitated," and that "the same
absence of stock is observable in other quarters which we
before noticed as being the case here, at the source of pro-
duction, and this circumstance will greatly ameliorate the
bad consequences of a change and reaction, whenever and
however it may come, if it does come at all, in the shape
some people are imagining at present." It is because people
are imagining and believing a change is imminent, through
a possible cessation of the war in America, that we have
had such a flat market to-day. Probably in a short time all
this will have disappeared, but there is very generally a fear
that the present production of goods is too large for the
supply of cotton, and that they are too high in price to be
safely exported in large quantities, and this is one source of
a wnnt of confidence in the market.

CARDIFF, Ist.--There is a large business doing in both
the house and steam coal trades, and considerable activity
is evinced at the docks. The current quotations are well
maintained, and the market is gradually getting firmer.
Freights continue rather high, owing to the scarcity of ton-
nage. Coke is in average request, and there is no change to
record in prices. The rain that has fallen since Sunday has
enabled all the works that had been obliged to stop from
want of water to commence operations again. There is a
better inquiry for every description of iron, and quotations
are firmer than was the case a fortnight ago. Several orders
have been given out on American account during the last
few days, and no doubt is entertained that the demand from
that country will be large for the coming months. The
shipbuilding yards are in full employ, and the oth,r
branches of trade are in a fairly satistactory Oran.

LEEns, 2d.—The following is the trade report of I he Leeds
Chamber of Commerce for the month of August :--4, The
business done in the woollen cloth warehouses during the
month has been a fair average, and the country trade has
also been good. A considerable busines.3 has been done for
shipping, except in the American trade, for which only a
very moderate amount has been taken. The manufacturers
aro all fully employed. The woollen cap makers are very
busy, and have large orders on hand. The public sales of
wool in London closed on the 31st ult., and about 140,000
bales passed the hammer. The attendance was large through.
out. Foreign buyers operated freely, though hardly with the
same spirit as at the May sales. Prices commenced at the
closing rates of May, but declined slightly on most descrip.
tions after the advance in the Bank rate. Manufacturers
continue well emplo3ed—the home consumption of wool is
consequently large. There has been little done in flax, ex-
cepting bag flaxen, for which there has been a fair demand at
full rates. For other sorts quotations remain without change,
but on the whole have shown ROM° weekne.a. Fine tows