The Sun.
London, England, 1863-11-28 00:00:00

STATE OF TRADE

MANCHESTER, Nov. 27.—The reaction and improvement
of the yarn market has been very marked during the week,
and especially since Tuesday. On Wednesday, yesterday,
and to-day there bas been a very active demand for allkinds
of yarns. The business done has been very large, and for
hank yarns prices have advanced ld. to 2d. per lb. above
the rates of this day week. In cop yarns the advance has
been fully as great, but the great irregularity which is a
necessary result of a reaction in the market so sudden as is
the present one, makes it difficult to state the change with
exactness. Sellers of high standing in the market say we
have had a better feeling in this department, with an ad-
vance of id. to ld. per lb. since Tuesday, and of about lid.
per lb. as compared with last week. Others, and of
equal standing, say that cops have advanced 2d. to
3d. per lb. during the week, and that many spinners have
gone deeply into contract at this advance, some of the
yarns sold to-day having been taken for delivery as far for-
ward as March in next year. Both statements are no doubt
correct, only that they probably apply to different descrip-
tions of spinnings. The market closes very strong, with an
upward tendency in prices. Of the cloth market both buyers
and sellers give a less flattering account. Since Tuesday
there has been a further improvement in the demand, but
the extent of business has been a good deal checked by the
want of confidence among buyers on the one hand, and by
the difficulties thrown in the way of manufacturers by the
great advance in price of cotton and yarns on the other.
During the late depression of the market, cloth went down
rapidly enough, but does not show elasticity enough in the
other direction now that a read ion has set in, A fair busi-
ness is reported on the whole, but no large purchases are
spoken of for any market, buyers showing a disposition to
restrict their operations and to exercise caution. The goods
which have been in the greatest demand have been those
which are in least supply-49-inch shirtings of 71b and B,llb
weight—in which a large business might have been done
had there been any stocks,
CARDIFF, 27th—The steam coal trade continues active,
and the coalmasters are well supplied with orders. Prices
are firm, with an upward tendency. The house coal pro-
prietors are moderately well off for orders, and there is an
average business doing. The advance in the Bank rate of
interest has not affected transactions in the iron trade to
any extent, and quotations are firmly maintained. The fol-
lowing are the present average quotations :—Rails, £6 12s
6d to £6 15s f. o. b. ; bars, £6 15s to £7. The.Penydarren
Works and Mineral Estate have been purchased by a Lon-
don capitalist, and the works will be in operation in a
short time.

LEEDS.—The report of the Leeds Chamber of Com•
coerce for the month of November is as follows :—" During
November the business done% to the woollen warehouses has
been only limited, chiefly because the winter trade has now
nearly closed. The transactions have principally been for
actual and immediate wants or for assorting stocks. The
season now ending has on the whole been a good one. The
manufacturers continue well employed, and are preparing
goods for the spring trade, and, as far as can be judged at
this early period, have a fair prospect before them. The
public sales of colonial wool in London commenced on the
sth inst., and have since been in progress. Although the
opening was perhaps somewhat damped by the rapid ad-
vance in the Bank rate of discount, still an advance of ld.
per lb. over the previous sales was obtained on most de-
scriptions of Australian wool. Cape wool are in large
quantity, and prices are about the same as before. The
foreign trade is taking a good proportion. The home de-
mand continues very good and steady. In English wools
there has been less doing, and, being at present higher in
price than for a long time past, the advance in the Bank
rate caused a partial suspension of business, bat prices re-
main without much change. Shorts and noils as before.
The animation in the flax market reported last month was
continued during the earlier part of the present, but it was
checked by the advance in the rates of discount, and the
unsettled state of affairs in Europe. Only a very moderate
amount of business has been done during the last few
weeks ; bat prices, on the whole, have been well sustained.
Tows have been in very brisk demand, and full prices have

been obtained for them. Hemps have also been in request,
and have been sold at higher rates. The spinners con-
tinue to be very busy, and still have heavy orders on hand.
The makers of iron are very busy, both for common and bet •
ter sorts, and most of them are full of orders. The machine
makers are very fully employed, as are also the makers of
engineers' tools. Locomotive and railway plant makers
have still large contracts in hand. The demand for cut
nails is exceedingly brisk. Altogether the iron and machine
trades aro in a very satisfactory state, and better than is
usual at this time of the year, and there is an extension of
works being made in some cases. The improved demand
noticed at the end of October has been fully sustained
during the past month. Heavy leather has moved more
freely, and stocks are further reduced. Offal of all kinds
has sold briskly, and advanced prices have beon realised;
leaving a very bare market. The various descript,i.ons o
dressing goods have continued in good request, seb.ing_im
n
arrival at full prices. Stocks are light. Rape seed is
P
in price, and there is a large demand, both for home con-
sumption and export. Linseed is rather easier than last
month. In consequence of the mildness of the season,
crushers are only buying small lots. Rape oil is in better
demand than last month, and prices are very firm. Oil is
lower in consequence of forced sales by speculators, but

crushers are not disposed to accept present rates. Linseed
cakes are not much wanted during the open weather. Olive
oils are firm and in good demand for consumptionjThe ac-
counts from the producing countries are unfavourable,
owing to heavy rains. The shoe trade is not so brisk as last
month. The tobacco trade continues good. The improve-
ment in the paper trade continues, and the makers are
pretty well employed. There has been a fair supply of fat
cattle for the season, but not always quite equal to the de-
mand, and prices have therefore been somewhat in favour
of the seller. Number shown (four markets), beasts,lsos ;
sheep, 11,406. There has been a good supply of wheat,and
prices are rather higher. Good qualities of barley havebeen
in request. Oats and beans are without change."