The Sun.
London, England, 1862-05-28 00:00:00

STATE OF TRADE.

MANCHESTER, May 27.—There has been very
little business in yarn, but prices are very firm. In-
activity is the feature of every department, but
spinners are less disposed to give way than for
some time past, finding their hands strengthened
by the improved state of the cotton-market, and in
some cases are asking rather more for their yarns.
In the cloth-market there is also inactivity as a rule,
though the letters from India, which are to April
22, have caused a better feeling. In these, in fact,
is foreshadowed, for the first time during a long
period of depression, a coming improvement, which
it is believed may have an important bearing upon
our market. By these accounts it appears that a
free demand was springing up from buyers for the
interior. There had naturally been a struggle be-
tween these buyers and the holders of goods which
should have the advantage arising out of the Go-
vernment reduction of 5 per cent. on the tariff, but
sellers appear to have obtained their point, and this
is an important gain in price, and the news has im-
parted a more cheerful feeling to shippers in the
Manchester market, though the business doing is
comparatively small. The political information
from America also seems to be well received, and
the feeling of panic which lately pervaded the
market appears to be passing away to some extent.
Buyers, however, are generally acting with much
caution, and, owing to the stocks still held by mer-
chants, any advantage in price, like any increase of
demand, will be slow in reaching the manufacturer.
Some of the home-trade house, though not doing
much in the general market, are reported to have
been busier lately themselves than for some time
past, and, though most of their orders from the
country continue to be on a comparatively small
scale, there is a rather more hopeful feeling for the
trade here, in this and the other prospects of the
market, if nothing should occur to interfere with the
feeling of more confidence gradually showing itself.
Messrs. John Slagg and Co. report :—" Since Tues-
day last the market has gradually recovered from
the extreme depression then existing, and yester-
day and to-day, since the receipt of the last
American accounts, manufacturers have shown
less anxiety to sell, and have generally raised their
quotations. So far, however, there is no improve-
ment in the demand, buyers still acting with great
caution, and the amount of business doing continues
on a very limited scale."

DUNDEE, 24th.—This has been another quiet
week, every branch being lifeless, and both spin-
ning and manufacturing unprofitable. Several ves-
sels have now arrived from Riga with fresh flax.
The quality of the higher marks is unsatisfactory,
but the lower are not approved. The prices asked
are considered high, and little business has been
done. One very large transaction in fresh Riga
flax afloat has been concluded with one of the chief
spinning firms here, at prices considerably under
market quotations. This has caused some remarks,
as the sellers are reported to bo buying in Riga at
current rates. Tow and cedilla are not in much re-
quest. Jute is not active, and can be bought here
nearly as cheap as in London. For years spinners
are now firm in their prices, which restricts the sale
to present wants. A considerable business is doing
in linens, but the demand is scarcely equal to the
production,
which keeps the market languid.
LEEDS, 27tb.—The market in the cloth halls to-
day have presented no feature of a particularly
striking character. There was scarcely an average
attendance of buyer!, and those who were present
bought sparingly. The purchases of heavy goods
in the bulk.state rather exceeded those of last Tucs-
day, but there was not quite so much done in light
fabrics. The country manufacturers and clo-
thiers report that they are neither better nor
worse employed than last week. Wools are mode-
rately steady in price, but, as is usually the ease dur-
ing the holding
of the colonial sales in London, the
local dealers are not doing much just now. At the
Pontefract wool market, on Saturday, the following
prices were obtained for the new clip :—Best hog ,