The Sun.
London, England, 1863-02-25 00:00:00

STATE OF TRADE.

'MANCHESTER, FEB. 24.—The yarn market has
been very flat, and we have scarcely any business
for any quarter. In some cases prices have been
rather easier. There has been a trifling inquiry for
some kinds of mule yarns for India, but the prices
offered have been very low, and it has led to a very
little business. The dullness, in fact, almost amounts
to a suspension of business. A report is in circula-
tion that the last mail steamer from America
brought an answer for the Government of France to
the Emperor's offers of mediation, in which Mr. Se-
cretary Seward rejects altogether the propositions
made in the despatch sent to M. Mercier. As an
instance of the strong feeling which prevails her!
as to the probable long duration of the struggle in
America, it is stated that a spinner here declared
his intention, in addition to closing his two mills, to
sell off his horses and carriages, break up his house-
hold establishment, and go into lodgings, to live
as economically as possible until there is a prospect
of a better supply of cotton and a prospect of re-
suming business with some chance of profit. He
is said to have declared that he could not use Surat
cotton for the class of yarn to which his machinery
was adapted, The business in cloth to-day has
been quite as flat as that in yarns. Since Saturday
there has been a rather better feeling, with some
inquiry, but it has not led to business, and the stag-
nation has increased day by day. Any sales forced
on the market this morning must necessarily have
taken place at prices favourable to the buyer. It
was hoped that the recent advices from India would
lead to some improvement, but they seem to have
had little effect beyond the sales mentioned in
Friday's report, and even these turn out not to
have been for shipment, but only with a view to
hold as a speculation. What transactions are tre-
ported are confined to small purchases of a few hun-
dred pieces of standard makes
stionr assorted orders,
orders without
and for which there are p
limits as to prices. The total stockg of cotton at
Liverpool continues rather large compared with the
present rate of demand. At the close of last week
it was 415,000 bales, or equal to about 26 weeks
consumption
at 16,000 bales per week. The quan-
tity at se.' (East Indian) was 182,000 bales, against
140,000 at the same time last year. Less than 20
weeks' supply was considered good when the pro-
dection was fully equal to the whole consuming
power of the country, and many of our spinners
think that the present stock should keep prices at
Liverpool more in check. It is evident that con-
sumers are buying very moderately at the present
high rates, and many people think it is equally
clear that, with the heavy stock of goods still on
hand, the out-turn of the mills yet working is
larger than will find its way into consumption at
the present high range of prices. An illustration
of the way in which dear calico is stimulating the
trade in woollen fabrics (to say nothing of linen,
silk, and mixed goods), has transpired in a local cir-
cumstance of some novelty. It has been long a cus-
tom (more peculiar to Lancashire and Yorkshire
perhaps than to other counties) to stuff beds with
woollen flocks instead of feathers. When wool

engaged in hunting up woollen
either buying them from the owners or
sum of money to be allowed to take out these flocks
and substitute for them cotton flocks or some other
material of less value. It will be seen by the pro-
ceedings of the Central Relief Committee yesterday
that the gradual but considerable decrease of pau-
perism evident from Mr. Commissioner Farnall's
reports is not due entirely to the resumption of
factory labour, though there is no doubt a larger
number of mills now working than before Christ-
mas. The decrease, however, is partly due to the
increase of work for out door labourers, whose sup-
port has been thrown upon the parishes and relief
committees during the winter, but upon whom the
mild and open weather of the present early spring
isnow enabling to find employment. The cotton sup-
ply question still appears to wait a solution. It
seems to be generally admitted that the answer•
given by the President of the Board of Trade to the
proposition of the member for Devonshire on Friday
night. was based to some extent ou sound seem
mic views. No doubt, any attempt through Go-
vernment encouragement to stimulate the growth
of cotton would be most unwelcome to the cotton
companies already formed ; but still the public
mind is not wholly satisfied with this answer.
Many people here would regard the efforts of
those companies with far more satisfaction were
they of a magnitude more proportioned to the
evil they are intended to cure. Unfortunately,
they are generally regarded at present as on a
scale far from likely to afford means proportioned
to the end. Meantime one of the greatest indus-
tries the world over saw is at stake.

LEEDS, 24th.—There is no new feature
portance to notice in the woollen cloth trade of
this town and district. The markets in the cloth
halls have been of a moderate character this
morning. All things considered, a fair amount
of business was done in spring goods, and a few
parcels of light fabrics for summer wear were also
purchased- The demand for ordinary broadcloths
was dull. The price of wool and other materials
keeping very firm, there is no change to notice in
the general quotations of goods.
NOTTINGHAM, 24th.—There was a pretty good
attendance on 'Change to-day, but the demand for
lace yarns was slow. On the whole, however, a
moderate share of business was done, and prices
were about the same as on Friday. Silk remains
without any material change. Hosiery yarns were
firm. Brown nets are still a slow sale, the low prices
offered being a great check to business.
ROCHDALE, 23d.—Both the flannel and the wool
markets have been rather quiet to-day. Fewer
goods were purchased than ordinarily, and the most
of those sold were low qualities. Wools are stiffly
held, but manufacturers buy slowly, and mostly to
complete orders Ns hich they have in hand. The
demand for Yorkshire goods has slightly declined,
and to effect sales in some instances a slight reduc-
tion in price has had to be submitted to.

HIGH WATER AT LONDON BRIDGE.
Txia DAY.—Morning, 6h. 40m.—Afternoon, 7h. sm.
To-molutow.-Monaing, 7h. 25m.—Afternoon, 7h. 54m.