The Sun.
London, England, 1862-08-02 00:00:00

STATE OF TRADE.

MANCHESTER, August I.—The yarn-market has
been very excited, especially in the cc.unts and
qualities made from American cotton, and all avail-
able lots have been rather eagerly picked up. The
chief buyers are the Germans and the India people.
Yarns are now becoming so scarce that some classes
can scarcely be met with at any price. One healthy
sign is that the purchases made have been chiefly
for shipment, and will not, as in the case of many
of the speculative lots sold within the last few
weeks, come upon the market again. Not mach
doing for the home or other markets than those
above named. Prices of all descriptions of yarn
very firm. In cloths we have had a little business,
but nothing approaching to activity. Telegrams
have been received from Bombay to the 12th of
July reporting a very brisk market for imports,
and an advance in the price of shirtings of from 9d.
to 15d. per piece. Prices there would still be 12d.
to 18d. per piece below the rates at which they can
be bought here, but the advices have led to some
' demand in this market during the day, though not
to as much as was expected. It has given some
additional firmness to prices, but manufacturers
cannot obtain the rise they are asking, though un-
doubtedly rates have been given this morning which
manufacturers could not obtain on Tuesday. For
home trade and other markets not much doing.
The market generally, however, closes firmer. The
observations of Lord Palmerston in the Rate in
Aid debate about Lancashire manufacturers re-
selling their cotton has given rise to a good deal of
remark here to-day. The re-sale of cotton, it is
remarked, at the most, should only lead to a re-
distribution of stocks. If there is any crime in it,
through such cotton finding its way to foreign
countries, that crime is due to the Government,
which has not prohibited the export of cotton—a
course which would, perhaps, have brought worse
evils in its train by destroying the Liverpool mar-
ket as the cotton entrepot of Europe. Some manu-
facturers have left off manufacturing, and devote
themselves solely to the business of speculating
—dealing in cotton yarn and cloth. One manufac-
turer is spoken of as having resold 2,000 bales
at a particular crisis at 12d. per lb., and laid out
the whole of the money a few days later in the
;::.me cotton at 10d. per lb. The workpeople of
:tat gentleman, at all events, would be no sufferers
I y the speculation. The impression of business
:. en is, that if the manufacturers generally who
Lad the foresight to buy large stocks before a rise
in price took place had resold subsequently, the re-
distribution of stocks would have been beneficial to
the trade generally, and to the operatives as well.
LEEDS, August I.—The trade report of the Leeds
Chamber of Commerce for the month of July states
that in the woollen trade during that month a fair
business has been done, both in the warehouses and
the halls. There has been a particularly good de-
mand for union cloths, and all kinds of heavy goods
suitable for the winter trade have been in request.
The export houses have also been buying a fair
quantity. The manufacturers throughout this dis-
trict have been better employed than during any'
month since last autumn. Since last report, owing
to the improvement in the woollen trade, there has
been rather more doing in colonial wools. There
has been more done than usual in German wools,
owing to the low prices at which they have been
bought at the lairs compared with last year. The
colonial wool sales commence to-day, and are ex-
pected to last for six weeks. The quantity offered
will be the largest ever known, upwards of 106,000
bales having already arrived. In English wools
there has been a very brisk demand for long bright-
haired sorts, and prices are very firm, a small ad-
vance having in some kinds been established.
Short wools are the same as before; prices unal-
tered. This is also the case with noils and broker.
About the middle of the month there sprang up a
great demand for flax of all kinds, and the trade
since then has been in an excited state. In Baltic
flexes, of which alone there is any considerable
quantity in first hands, there has been an advance
of £2 to £4 per ton. In tows and codillas there
has not been much change, but lately good clean
tows are much sought after. For hemp there has
been a strong demand, and prices are higher.
The increased demand for flax was almost simul-
taneous with, and may, to some extent, have
been caused by, the great advance in the price of
cotton. For line yarns and heavy tows there has
been a brisk demand, and higher prices have been
asked, and in some cases obtained, and the mer-
chants are anxious to place orders at or near the old
prices. Middle and fine tows have not, however,
fully participated in the improvement. Makers of
railway and merchants' iron are busy, and have con-
siderable orders in hand, and the trade in all kinds
of iron made in this neighbourhood may be reported
favourably upon. The machine trade continues de-
pressed, with little sign of improvement. The en'
gineer tool trade also continues dull, though most
of the makers keep their works going full time,
The locomotive makers are busy. There has been
rather more demand for cut nails, but this trade is
still quiet, whether for home or export. Since last
report there has been a better demand for most
descriptions of leather; and as fresh supplies have
come forward rather sparingly stocks are somewhat
lighter than at the beginning of the month, while
in some sorts the demand has exceeded the supply
Prices firm, without much change. The fancy lea-
ther trade is also better. Rape oil is in great re-
quest for this season of the year, and prices have
advanced considerably. This is caused by the scarcity
of seed, and the high price asked by the growers,
both in this country and on the continent. Linseed
oil has also been in good request, and the price is
very firm. Seed is very dear_ Cakes are only sold
in retail lots. Olive oils have been much sought for,
at advanced rates, and prices abroad, with costs and
charges, are higher than in this country. The
paper trade still continues in a depressed state, and
the makers are most working short time. In the
shoe trade the makers are all busy, and there are
considerable orders on hand for export.