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
necassary 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-

vauce of 4d. to ld. per lb. since Tuesday, and of about lid
per lb. as compared with last week. Others, and o
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 reaction has sot 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 fillb
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 coahnasters are well supplied with orders. Prices
are firm, with an upward tendency. The house coal pro-
prietors are moderately welt off for orders, and there is an
average business doing. The ad vance 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
61 to £6 15s f. o. b. ; bars, £6 15s to L 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.-=he report of the Leeds Chamber of Com-
merce 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 Id.
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, but 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. Qnly a very moderate
amount of business has been done during the last few
weeks ; but 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-
tinuo 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 are 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 movedll
i:riiaodree
freely, and stocks are further reduced. Offal of a
has sold briskly, and advanced prices havea descriptionsbee of
realised,
leaving a very bare market. The various
dressing goods have continued in e
ghd
t. alCitquapeset,seseedlliinegfironan
arrival at full prices. Stocks a
in price, and there is a large
both,
con-
sumption and export. Linseed r
is rather for home
asier than last
month. In consequence of the mildness of the season,
crushers are only buying small lots. Rape oil is iu better
demand than last month, and prices are very firm. Oil is
lower in consequence of forced sales by speculators, but