The Sun.
London, England, 1863-03-21 00:00:00

STATE OF TRADE.

MANCHESTER, March 2u.—The spirit and activity
which prevailed in this market on Tuesday have
entirely disappeared. With the change which has
since taken place in the Liverpool cotton-market,
the feeling here has undergone a very decided
change. Not only do buyers seem less inclined to
give the extreme rates which would have been given
on Tuesday, but even where sel era are disposed to
accept rather easier terms no business can be done.
In fact, there seems to be almost a total suspeution
of business to-day. The market for yarns has been
flat, and the only inquiry we find is for the class
suitable to the Calcutta trade, which keep in far
request, at extreme prices. For all other markets
there is little or nothing doing. On Tuesday yarns
were in request for nearly every market in the
world, and the change can only be accounted for
on the supposition that the many orders known
to be held for some weeks past by agents were-
on that day in great part executed. The pro-
bability is that the greater part of the
orders which had accumutated while prices had
been gradually giving way for some time past were
precipitated somewhat prematurely on the market
on Tuesday, in consequence of the concurrent in
fluence of good advices from India end a rising cot
ton market at Liverpool, and that these orders were
really so small in the aggregate as to have left
little pressing business behind to sustain the im-
pression produced at the moment. In cloth the
subsidence of business since Tuesday has been of a
more marked character than in yarn. The impres-
sion on Tuesday was that the greater part of the
purchases, which were for India, were intended
for shipment and not for speculation, but the fact
that the demand fell off almost immediately upon a
change in the cotton market tends to a different
conclusion. Sellers are asking rather full rates,
but to effect sales they would have had to submit
to a decline. Buyers, however, do not seem dis-
posed to operate on any terms today. In other
classes of goods, as well as those for India, the mar-
ket is fiat. The inquiry for the home trade is very
limited, and has led to little or uo business. The
Greeks have not received their letters, and are
awaiting the arrival of the mail. The market for
home trade yarns is rather easier, but, even with
this advantage, manufacturers have not been able

to make offers which will tempt buyers. In cloths
there is no animation in any branch of the business,
and the market closes quite as flat as at any time
during the day.
CARDIFF, 19th.—The iron trade continues mode-
rately active. A fair demand exists, especially from
Spain, France, Italy, and other continental coun-
tries. The foreign railways now contemplated are
expected to bring large orders for rails and other
railway iron. Prices remain without any material
alteration; but the tendency is downward. Tre
forest, Hirwain, and Penyvarren works continue at
a standstill, and there is no prospect of their start-
ing. The coal trade is quiet. The majority of
the collieries are workir.g regularly. High freights
and the difficulty to obtain vessels continue to re.
tard the trade to some extent. There is no change

to report in quotations.
NOTTINGHAM, 19th.—The attendance of mer•
chants and manufacture's at this Exchange•hall
to-day was not so numerous as on Tuesday. The
demand for lace yarns was quiet, but holders asked
full prices. There was not much doing in hosiery
yarn, an 1 prices were similar to those of last mar-
ket day. Silk of all kinds makes extreme prices.
The business done in brown nets was small, and
prices were again lower.