The Sun.
London, England, 1862-09-10 00:00:00

STATE OF MADE.

MANCHESTER, Sept. 9.—So far as yarns are con-
cerned we have a dead pause in this market to-day,
and there has been no inclination manifested either
on the part of speculators or the buyers for logiti.
mate 'trade to operate. The market is remarkably
firm. Neither spinners nor holders of yarn show
any disposition to make the slightest concession in
prices; or, if they do, it is to such a slight extent
as utterly to fail in tempting either speculators or
the trade to purchase. Both buyers and sellers
seem equally disposed to rest for awhile, and per-
haps after operations of such magnitude as those
of the last few weeks this was only to be expected.
The question as to the stock of cotton in Liverpoo;
naturally engages a good deal of attention, some
people estimating the quantity still on hand at
100,000 to 150,000 bales ; but the question is one
which does not much affect this market, though it
may be to some extent accountable for the very
quiet state of the trade as compared with last
week. For cloth as well as yarn the demand has
fallen off almost entirely. Merchants are doing
nothing at all. The business continues, as last
week, to be entirely in the hands of speculators, but
even they have paused. They are taking lots
wherever they can find them at lower prices, and
the market for most kinds of cloth is at least 6d.
per piece under the rates of last Tuesday. In
some cases, probably, rather more, for persons de-
sirous of selling. Few, however, manifest anxiety
to sell. The stocks of cloth in first hands are so
light and the production is so limited that sellers
generally are much firmer than might be expected
from the amount of business doing. The master
spinners and manufacturers have been accused,
rightly or wrongly, of apathy as to our future sup-
pty of cotton, and of holding aloof too much from
the various schemes which have been set afloat for
growing and procuring cotton from new fields of
cultivation. It is, therefore, gratifying to find
that the working classes are directing their atten-
tion to this question. A Working Men's Cotton Sup-
ply Association is in course of formation ,w ith its head'
quarters in Manchester, and committees are being
organised in the various towns of Lancashire. 5°
soon as this organisation is in a sufficient state of.
forwardness, probably about the end of 00tr,
t
is proposed to have a great demonstration in toMan-
chester with a view to fairly enlisting the sym-
pathies of the factory operatives
e
generally in the movement. A Part
gramme is to promote and encours
orwarding
ee: tabo
ottthhh
of their power joint-stock conwaa
and f
ton-growing, and for procarin.g
is at present grown,
cotton from countries where it
et iresent supposed to
but where the facilities are .
companies, not only work-
be inadequate. In theeseto
be invited to take shares,
ymi
nes ohnota:::: c o t
already
o n tr a
hade .
an
the small retail tradesmen
ing men themselves are to
but their emrloyerus,fa
sturing towns whose welfare
ted and lidnkeclAwidtehptahtaattioonf
and that
is
sf
stoheinvtaimrioatuesl
the operatives
ALP , on this subject,
ascheme.
said to have presented them dona-
tionther
nf337said
them in organising
owfitiwi working
of tiiset°schemes already before the public, with
gentleman is
Aniong
neiat de
ayonf beenamffeo
means
ndfisxt
oeedvaeiondn
is
nao
_ view of increasing the supply of cotton, there are
ho:ueuinbi
leewn
ahosoyst ehl
oosswhe a
srwee
aos
lrekh
iatnvoge
amadl
emr
their object. The first of these in the field was the
British Cotton Company, who propose to direct
their energies to
Natal, and the growth of cotton in Jamaica,
Queensland, and whose shares are only
£1 each. The next was the Manchester Cotton
Company, who issued their shares attl,loo, but sub-
s( quently reduced them to £2O, and then to £lO.
This company has already taken steps for procur-
ing and packing cotton in Indie, as might be seen
by the proceedings at a recent meeting.
Another company, the Jamaica Cotton Company,
with £lO shares, have also commenced opera-
tions. Another is the East India Cotton Agency,
with £lO shares ; ~and, besides these, there
are the Western Auptralia, with £5 shares, the
Queensland, with £lO shares, and the Algerian
Cotton Company, with £5 shares. These associa-
tions alone, if their shares'were all taken, ought to
give a considerable impetus to the future supply of
the staple of our manufactures without going fur-