The Sun.
London, England, 1862-12-24 00:00:00

STATE OF TRADE.

MANCHESTER, rlc. 23.—We have had a very
strong market for yarns, but the antount of business
has not been large, though sales to a fair amount
have been made. The market has been a good deal
stimulated, no doubt, by the reports from Liver-
pool, where the sales of cotton to-day have again
been large. We should have had a more extensive
business in yarns had spinners been content with
more moderate prices. Generally speaking, they
are asking an advance on the rates of last Tuesday,
and some of them require a rather considerable rise.
At Saturday's terms a very considerable business
could have been done to-day; at least, so sellers
report, but there is a general impression among
spinners that we shall have much more activity in
January, with higher prices, and they are conse-
quently reluctant to enter into engagements of any
moment in what they regard a transition state of
the market, In the cloth market some houses re-
port a more cheerful feeling and rather more busi-
ness, but this account is not generally corroborated.
Manufacturers have been very firm in their de--
m ands, and in some cases have been inclined even
to ask rather higher rates than last week, but
which could not then be obtained. Buyers, however,
seem somewhat obstinately to decline business. The
business has been by no means large when compared
with the extent of inquiry, which has been consi-
derable for several descriptions of cloth, including
T-cloths, shirting, and printers. Some of the print-
ing cloths lately contracted for are now in course of
delivery, and, being chiefly made of Surat cotton,
have disappointed expectations. The printers com-
,l plain of them very much. Still, however, the con-
viction of sellers of cloth is that we shall have
still higher prices, and they have steadily refused
offers to-day, even where an approximation to their
own prices has been made. In recent reports
of this market attention has been called to the
fact that in various parts of the cotton district
spinners and manufacturers, who had wholly
or partially stopped their mills, have obtained
contracts recently for goods which have run
out of stock, and for cloths of a description
hitherto not made, and that consequently they
have resumed work on full time. It will be seen
from Mr. Farnall's report to the Central Execu-
tive Committee yesterday, that at Burnley, Black-
burn, Bury, Chorley, Haslingden, Rochdale, and
some other places there is a decrease in the num-
ber of persons receiving relief of 4,434, and an in-
crease in other towns of 2,401, leaving a net im-
provement of 2,403. This improvement will probably
be carried somewhat further by more mills resuming
work after Christmas, but it must not be taken
for granted that the improvement will be carried
to any great extent, cr that it will be permanent,
with the present prospects of a supply of cotton.
Buyers for the United States as well as for the
continent of Europe now make their appearance
in the Liverpool market for Surats, and, notwith-
standing the heavy imports for the last two months,
the stock of that kind of cotton in Liverpool was
reduced to 152,940 bales, making, with all other
descriptions, only 219,940 bales. If all the mills
here and abroad were running full time it is esti-
mated that it would take nearly 5,000,000 bales
to keep them going, and now that the supply
from the Southern States of America is cut off,
and we must look for our main supply from India,
it is obvious that the slight increase we have yet
had of Surats will go but a little way in giving
our factory hands work again at present. The
sales of cotton at Liverpool last week were equal to
fully one-third of the entire stock we now have,
and of these sales 54,880 were Surats. Prices
under such circumstances will rapidly reach a
figure which must stop business. We shall pro-
bably have fluctuations for some time to come,
more mills starting and some ceasing to work,
rather than any permanent improvement. It is
probable, however, that if we have not seen the
worst we have been very near it, and the present
change, slight as it is, has had a cheering influence
upon men's spirits to-day, and even upon the minds
of those not disposed to take the same sanguine
view of affairs. Messrs. John Slagg and Co. re-
port :

" Since Tuesday last the excitement has gradu-
ally subsided, and to-day we have to report a
very quiet but steady market for all descriptions
of goods. Manufacturers generally are firm, at
our quotations, and there is consequently very little
doing, as, to effect sales to any extent, it is neces-
sary to make some concession.

LEEDS, 23d.—As usual at the closing markets
before Christmas, there has been only a small amount
of business done in the cloth-halls this morning, and
that chiefly in fabrics for the spring. The weather
is open and rather warm today for the season, a
circumstance that has tended to keep heavy goods
in the dealers rather than the wearers' hands. A
few "job lots" of such, where a sacrifice of price
has been made, have been sold to both home and
export buyers, but the trade for such is all but
closed for the season. In other respects the woollen
trade of this town and district is in a healthful and
satisfactory condition, the manufacturers being well
employed and the stock generally of a moderate
compass. Prices, those of goods as well as those of
wools, keep firm.
NEWPORT (MormovnisHlßE), 22d.—The iron
trade continues rather dull. The works are kept
going regularly, but there is no particular activity.
Quotations remain about the same. There is a mo-
derate demand for rails, and merchant bars are in
fair request. The collieries are generally well em-
ployed throughout the district, and the men are on
full Lime at nearly all the works. Prices are firm
with an upward tendency as regards house and gas
coals. The following are the average quotations,
free on board :—Steam coal, 7s. 9d. to Bs. 3d. ;
house coal, Bs. to 9s.
ROCHDALE, 22d.—Neither the wool nor the flan-
nel market was so brisk as the late two or three
markets. The supply was equal to the demand, or
rather more, but manufacturers showed no disposi-
tion to lower the prices for either plain or fancy
flannels. Stocks are not large, and the business done
is such as to meet the requirements of the present
season, so that with the turn of the year an equally
brisk trade is looked for. Yorkshire goods, espe-
cially linseys, are in active demand. Both the flan-
nel and the woollen manufacturers are in good em-
ployment. Wool is firm in price.

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scarcely anything new to report in reference to the state of
the mine. The upcast shaft has been filled up above the
furnace drift, and the two downcast shafts are sealed, with
the exception of the space necessary for the passage of the
water which is being poured in the mine. The fears which
were expressed a few days ago as to the length of time that
must elapse before the bodies of the entombed miners can
be recovered, find the fullest confirmation in the operations
now going on. The experienced gentlemen who have charge
of the mine have abandoned all hope of getting into it
until months have elapsed. The i dications at present tend
to show that fire exists in the workings, and a complete
flooding of tho mine will, it is feared, be required. The
subscription in aid of the bereaved has made considerable
progress, and now amounts to upwards of moo. Attention
has been drawn to the large unemployed surplus of the
Hartley subscription, and suggestions made that a portion
of it might be advantageously devoted to the relief of the
sufferers by this calamity. It is feare -I that this has tended
to check the progress of the subscriptions, as it will induce
persons who would otherwise contribute to hold back until
they see the result of the suggestion. The adjourned in-
quiry into the deaths of George Pickering and William
Davy, the men who died soon after being taken out of the
colliery, was resumed on Monday, and was again attended
by Mr. Morton, her Majesty's inspector of mines, who con-
ducted in a great'degree the examination of the various
witnesses. A further adjournment took place.