The Sun.
London, England, 1862-12-31 00:00:00

Mr. NORTON, a director, seconded the motion.

In reply to a question, it was stated that the cost
per mile for a single line would be £3,500. The
Government provided the land, embankments, cul-
verts, and earthworks, which were equivalent to
one-fourth of the cost, They would aleo give a
subvention in money and every facility, but they
wished to avoid granting a guarantee on the
capital,

The motion was carried unanimously, and the
proceedings terminated.

STATE OF TRADE.

MANCHESTER, Dec. 30.—The yarn market has
been very firm, and a fair business is reported. It
is thought we should have had much greater acti-
vity, and at extreme prices, but for the weakness
exhibited by the Liverpool cotton-market. Yester-
day there was an exceedingly large business in that
market ; 20,000 bales sold at advancing prices, and
many buyers of yarns came here to-day prepared to
operate, but were checked by the early telegram on
the Exchange from Liverpool stating that the cot-
ton-market was pausing, and that the sales would
probably only exceed 6,000 bales. There was a
very general inquiry to-day for yarns, including
buyers for China, India, Germany, and the Mediter-
ranean. Tho home trade were also among the
buyers, and the classes of yarns taken by this
branch of the trade were decidedly dearer, some of
our spinners asking for the finer counts as much as
ld. to 2d. per lb. more than last week's prices.
Although the market was checked, there is more
doing than for some time past, and many spinners
have sold out their stocks, though unable to get
prices which will induce them to take contracts.
In cloths we have had less business doing decidedly,
and this is also attributed to the flat cotton-market,
for, while manufacturers are asking an advance
proportioned to the increased cost of cotton, there
has been wanting the spur which was most likely
to urge on buyers. Buyers, indeed, seem less dis-
posed to respond to the upward tendency of the
market than they were last week. Still, there
seems to be a firm conviction in the market that
pi ices will go higher, and, not only are manufac-
turers firm, but holrlers on speculation appear to
have gained confidence. Some of the latter are
asking unheard-of prices. What little business has
taken place has been in small quantities, and for
such orders (mostly given by buyers who have
urgent necessities) hig her rates have had to be given.
It will be seen by Mr. Farnall's report this week
to the committee of the Relief Fund that there is a
further falling off in the number of the persons
receiving relief in the district to the extent of over
5,000. It has been stated in previous reports of
this market that this was likely to be the case, in-
asmuch as contracts have been entered into during
the last three or four weeks enabling manufacturers
to re-open their rills. In the monthly trade cir-
cular of Messrs. John Pender and Co., of Saturday,
this is confirmed :—" The demand for goods (during
the month has been chiefly for those sorts used in
the home trade, or by calico printers, and for
these goods purchaaaa have not only been
made from old stocks, but contractv, to make have
been placed to a moderate extent." There ie no
confidence h°re that this improvement in the
position of the working-classes will be long
maintained, but if it is only a temporary relief it
is one which will be regarded with much satisfac-
tion. In their report of this day's cloth market
Messrs. John Slagg and Co. report :—" Owing to
the large business done in 04 WAWA 111ATket, And