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

Az

STATE OP 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 here
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, bnt 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 re-
ported are confined to small purchases
assorted orders,
iases of a few hun-
dred pieces of standard makes to
and for which there are pressing orders without
limits as to prices. The total stock 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 sea (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 mined 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