The Sun.
London, England, 1864-12-31 00:00:00

STATE OP TRADE,

MANCHESTER, Dec. 30.—The war news from America on
Wednesday caused an unexpected dulness in this market,
and the intelligence fleshed: by telegraph from Liverpool
in the first report of the cotton market this morning, that
there was an excess in stock beyond what daily and weekly
reports had led us to expect of no less than 114,090 bales, or
£3,000,000 worth of cotton, at the close of the year, has
taken spinners somewhat by surprise. The, annual stock-
taking at Liverpool has caused a sensation before, but core
tainly not to the extent of three millions sterling, There has
hardly been time up to the present writing for its effect to be
fully appreciated here, but buyers of yarns have held aloof
and no offers of any moment have been made in shipping
yarns. Tha stagnation in business caused by the com-
bined effect of the excess in the stock of cotton and of the
American news is great, but business people are of late so
much accustomed to sensation effects that they are not so
easily moved as they would have been a few years ago. The
advices from Liverpool to-day that prices had fallen Id to
id per lb on cotton (equal to about £4OO, in the whole
stock) has only tended to confirm buyers in the wisdom of
inaction. Of eo urse, as the excess of stock at Liverpool is
a good deal in low qualities of cotton, the lower qualities of
yarn are most affected here. In home-trade yarns there
has not been much change in prices. No doubt manufac-
turers might have bougbt more cheaply, but they were not
disposed to make offers, and very little business has been
done. The cloth market has also been flat and dull. The
business done has been at prices a shade in favour of buyers,
but there has been exceedingly little purchasing on the one
hand, and no great desire to sell on the other.
LEEDS.—The following is the trade report of the Leeds
Chamber of Commerce for December :—" December is sel-
dom a very active month in the woollen cloth halls, and
the past month has been no exception to the rule. Consi-
dering the season, however, there Is no great reason to corn-'
plain. The merchants are general') busy stocktaking.
Some considerable quantities of low goods have changed
hands, and altogether the prospect looks better than at the
date of last month's report. The mills are very fairly em-
ployed. The woollen cap manufacturers aro busier. The
last series of public wool sales closed on the 16th inst. The
unusually large proportion of short and faulty wools, both
Australian and Cape, depressed the prices of these descrip-
tions, while good stapled Port Philip and Van Diemen
wools fully maintained their price. A slight improvement
in Cape wools occurred towards the close, and since then the
home demand has been good, and prices are firmer. There
has been a moderate business in English wools, and pricees
are better. As to the flex and linen yarn trades, the busi-
ness done has been limited, and quotations are nominal. In
other markets flexes of all descriptions have been sold at
lower rates. There has been a fair demand for better to;ee,
but common and lower sorts are little sought for.
The
spinners are not so well supplied with orders as some months
ago, but there has on the whole been a better feeling than
was the case in October. Threads are without change. The
demand for the better sorts of iron continues good, and the
makers are well supplied with orders. For lower sorts and
merchants' iron the demand is not so good, and some of the
makers have difficulty in placing their productions. The
machine trade is without change, still continuing exceed-
ingly good, as is also the case with the engineer tool trade.
The cut nail trade continues rather dull. Rapeseed still
supports the price of the previous month, and in some cases
higher prices have been paid ; the demand is active, and
holders are very firm. Oil is the same price as last month,
and there is a good consumptive demand. Linseed is very
firmly held by the importers, who are looking for better