The Sun.
London, England, 1864-09-14 00:00:00

STATE OF TRADE.

MANCHESTER, Sept. 13.—Tbe market is quite ae lifeless
and inactive as it was last week. In shipping yarns no
offers have been made at terms which spinners would
accept. The market day, perhaps, ct.n hardly be remem-
bered when business was so utterly impracticable. Home
trade yarns are quite as unsaleable. Until a demand for
cloth springs up, manufacturers seem less and less disposed
to buy yarns to go on making. Prices aro weaker than
they were last week, and the feeling in favour of closing
mills appears to be gaining in strength. There is no im-
provement in the cloth market. If there is any change to-
day it consists in a more determined feeling on the pat t of
merchants re abstain from operations, the high rate of dis •
counts acting as a strong deterrent. Such offers as have
been made have been at very low rates, and have only led
to business in cases where stocks are heavy and sellers
pressing to realise, As a rule, however, there is less pres-
sure to sell than might have been expected, as manufacturers
seem to derive some hopes of the market partially, if not
wholly recovering firmness through the imminent decrease
of production. There is now a general feeling among ma-
nufacturers against working to stock, and it is expected
that many of the leading millowners will be prepared to
close their establishments again wholly or partially so
soon as the present orders in hand have been completed,
and their stocks of cotton have been worked up. It is
thus expected that tho production of cloth will soon be
largely decreased. The prices of sellers are nominally un-
changed since last week, but practically buyers find that
they could operate at considerable advantage were they so
disposed.
LEEDS, 12th.—There was a small attendance of both
buyers and sellers in the cloth halls to-day, and the markets
were altogether of a quiet character. The purchases were
of a miscellaneous nature, and included a fair amount of
ordinary plain cloths, dark-coloured tweeds, and heavy
fabrics. The demand for Canada and the American States

is greatly in abeyance just now, but within the past two
months a large quantity of winter goods have been shipped
to the Canadian and other colonies. The high tariff of the
Federal States is a great bar to the introduction of Eng-
lish cloth into those States; yet, all things considered,
there has been a fair amount shipped within the last few
weeks, and the heavy and low priced fabrics of some of the
outlying districts around Leeds are still in moderate re-
quest for America. At present, when there are so many
signs of some great change being made in respect of the
war, a good deal of caution is used both by the producers
and the shippers, and there is certainly less disposition to
do business on American account than there has been for
some time past. As to the manufacturers generally, they
are well employed, and, though they complain of the high
price of wool and other materials, they are able to command
remunerative prices for their goods.
NoTTINGn.am, 13th.—The attendance on 'Change to-day
was again only limited, Manufacturers evinced very little
disposition to purchase lace yarns, and prices remained
quite as low as last week. The demand for hosiery yarns
was dull, and prices, if anything, were less firm. Late rates
were made for silks. There was not much doing in brown
nets, and prices were without material change.
ROCHDALE, 12th.—There was a rather limited attend-
ance of buyers in the flannel market to-day, and a smaller
quantity of goods was sold than has been of late the average.
There is a fair demand for middle and lowest priced goods,
and the heavier kinds are also now inquired for as the winter
season is approaching. Manufacturers are firm in their prices
and the prices of wool also keep up. Yorkshire goods are
not in quite so much request as they lately have been.

RAILWAY INTELLIGENCE,

SCOTTISH NORTH-EASTERN.

The report of the directors of this company states that the
gross revenue for the half-year ending the 31it July last
amounted to £132,702, and the expenditure to £50,558,
leaving a balance of £72,144 divisible in the following pro-
portions—£l2,926 to the Aberdeen section, £18,397 to the
Scottish Midland section, and £10,821 to the Dundee and
Arbroath section. The amount remaining for dividend on
the Aberdeen section, after paying the interest on the 31
per cent, the 6 per cent, and the 7 per cent preference
shares, was £6,445, out of which the directors recommended
a dividend at the rate of 11 per cent per annum, leaving a
balance of £1,258; on the Scottish Midland section £15,491
remained, out of which the directors recommended a divi-
dend at the rate of 5 per cent per annum, leaving a balance
of £491; and the balance remaining for the Dundee and
Arbroath section amounted to £10,637, out of which the
directors recommended the payment of £1,667 for the divi-
dend on the 5 per cent preference stock, and of £7,500 as divi-
dend on the original stock, being at the rats of 71 per cent per
annum, leaving a balance of 41,470 for the reserve fund.
The capital account had been debited during the half year
with £20,939 for additional works at stations, Parliamenthry
charges in cmnection with the bills of last session, and for
other matters. Thirty-eight miles of single line had now
been relaid with rails of 751 b to the 'yard, and other mate-
rials of the most approved and substantial description; and
the rolling stock was kept up in efficient order. The works
on the Denburn Valley line at Aberdeen would be com-
menced forthwith. The directors proposed to purchase the
Carmyllic mineral line, six miles in length, for £12,000, as
it stoad, and take over the rolling stock at a valuation.