The Sun.
London, England, 1863-11-18 00:00:00

STATE OF TRADE.

MANCHESTER, Nov. 17.--There is a slight improvement
in the tone of the yarn market, and rather more disposition
is reported on the part of merchants to operate, prices being
at about Id per lb decline on India qualities. Home trade
yarns are rather flat, and scarcely any offer had been made
to test prices. In the absence of such offers it may be stated
that a decline of about Id per lb on last week's rates would
be accepted, and of 20 per lb from the highest price attain-
able some weeks ago. There is an accumulation of orders
in the market, which would be executed if spinners would
give way sufficiently. Buyers are disposed to wait over
Thursday to see if the rate of discounts is advanced by the
bank, in the absence of more tempting comessions by pro-
ducers. Sellers contend that it is the adverse condition o
the money market rather than the exaggerated estimateso'f
forthcoming cotton that depresses the market. The later
accounts from Bombay and Calcutta are said to have been
more encouraging to shippers of yarn to India than any they
have received for a long time past, and, but for the high
rates of discounts on India (six months') bills, it is supposed
that merchants would be sending further supplies. From
the lightness of stocks and the heavy contracts in the hands
of spinners the yarn market is believed to be in a very
healthy position,
notwithstanding its present depression.
The cloth market is exceedingly flat, and we have had one
of the dullest markets known for a long time past. In some
quarters we hear a better account of it ; but this is the
general opinion. Manufacturers have in some cases shown
rather an anxiety to sell, and have been solicitous for offers
even at rather lower prices. Buyers, however, seem altoge-
ther indisposed to operate. The difficulty in the way of busi-
ness does not appear to be so much a question of price as
the absence of purchasers. Prices, on the whole, where
business has been effected, have been lower than last week,
bnt no large purchases have been made, and very little in-
quiry has been experienced, except for some of the wider
makes of shirtings, such as 45 and 49-inch shirtings, for
which a demand has sprung up in consequence of the
better advices lately to hand from Madras. The demand
from the home trade is quite as flat as that for cloths suited
for export. Messrs. John Slagg and Co. report :—" Our
market has been quiet since Tuesday last, and to-day there
is quite a gloomy feeling, with little inquiry, and no dis-
position to purchase. Manufacturers are willing to concede
in price, but buyers seem quite disinclined to make offers.
There is still some inquiry for the wider sorts of shirtings ;
but, as in most cases quick delivery is required, few makers
are in a position to take orders."
LEEDS, 17th.—There was a small attendance of buyers in
the cloth-halls this morning, and purchases were made spa-
ringly. This being an intermediate period between the
winter and the opening of the spring trade, sales have been
confined to a few transactions in heavy goods, tweeds, and
ordinary black cloths. The attendance of manufacturers
was not very large, and they were firm in their demands, so
that prices are firmly maintained. In a few instances mills
are not quite so busy as they were a month ago, but upon
the whole the manufacturing operatives are well employed.
Wo3l keepers very firm in price, and the quotations are
higher than they were last month. The flax trade keeps
brisk. and flax, yarn, thread, and linen all keep up in price.
NOTTINGHAM, 17th,—There was a good attendance of
merchants and manufacturers at the Exchange-hall to-
day. There was a slight giving way in some descriptions of
lace yarns, but on the whole prices were unaltered. The
demand for hosiery yarns was also quiet. In silks there
was no material change. Browa nets continue a very slow
sale. At present rates manufacturers cannot see prime cost
for these goods, and it is feared that many machines
engaged in making them will have to stand. In Germany,
France, and Italy, the high prices operate very much against
trade. Duringthe last few days there has been a decidedly
better tone in the hosiery business.

ROCHDALE, 16th.—Considering the attendance at to-
day's market, which was not a full average, the amount of
business done was tolerably good. Goods purchaseable at
the lowest prices were most gene: ally dealt in, but the sales
of all sorts were quite equal to a good average. The maximum
prices of Yorkshire goods were obstinately maintained, but

it does not appear to have the least effect at present in pre-
venting a good run of business. Our warehouse trade has
been rather more languid since our last report, and the
supplies of fine dyed and fancy pods, which have been
going on for several weeks past, seem to have glutted the
country trade. There is, however, still a brisk demand for
middle and low-priced flannels.