The Sun.
London, England, 1863-05-23 00:00:00

STATE OF TRADE.

MANCHESTER, May 22.—The advices by the Glasgow,
though bringing only one day's later news, have cleared
away a good deal of mist and doubt which operated disad-
vantageously to business. The rumour of an armistice, for
instance, is no longer believed, and it is generally believed
that some other reports respecting the results of the late
encounters would have been mentioned at least in the ad-
vices by the Glasgow if there had been any foundation for
tnem. Under these circumstances there has been a decidedly
better feeling in the yarn-market to-day, with a moderate
amount of business for various markets, and we have re-
gained in price all that was lost during the late depression.
The market closes extremely firm, with a decided upward
tendency in prices, and there is a general opinion that
should Monday's steamer bring no worse news as to the
position of the Northern armies than has been brought by
the Glasgow we may expect to see a considerable rise in
prices. It is quite evident from the feeling here that dis-
aster to the South alone is looked to as a prsximate cause
of peace ; but, at the same time, a serious reverse to the
Federals, and the rumours of au armistice which would
gain credence, mast lead to a serious disturbance of values,
and probably to something like the panic which prevailed
in this market at the beginning of the week. In yarns
the business has not been large) but there has been
a demand for all markets, and the sales have been of
a general character. There is also an improvement in
the cloth market. The cotton market at Liverpool has re-
covered its tone, and this has had its effect upon manufac-
turers, who are now asking the full prices of last week. We
have more inquiry for fabrics suited nearly to all markets,
though it has not yet led to much biss;
Taess. People are
willing to buy at the rates manufacturers would have taken
on Tuesday, but the latter, having recovered confidence,
are now unwilling to accept those rates. For India geods
large contracts have been offered at rather lower rates than
would have been taken last week, but declined, though they
would have been eagerly accepted on Tuesday.
CARDIFF, May 21.—The coalmas tors have a good number
of orders on the books, but considerable difficulty is expe-
rienced in executing them in consequent©
of the scarcity of
tonnage. Many of the colliers are only partially employed
through this circumstance. Freights are firmer, and a
change
eadtovarnecpeorhtaisn taken place
quotations
for
The iron trade
remains without any material alteration, and the works are
going on with their usual regularity, The
principal iron
masters are fairly off for orders, but the smaller works
are not so favourably situated. An occasional cargo leaves
for the Northern States. Quotations show a drooping ten-
dency.
NOTTINGHAM, May 21.—We had a very quiet market
to-day. The attendance at this exchange-hall was limited,
and a corresponding amount of business was done, but
there was no material alteration in the value of either
hosiery or lace yarns. Silks were quoted at unaltered rates.
The brown net trade was hardly represented, and scarcely
anything was done, prices being stationary.

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