The Sun.
London, England, 1854-11-27 00:00:00

STATE OF TRADE.

(Franz the Manchester Guardian of Saturday.)
MANCIIESTItit, Nov. 24.—The Levant and Mediter-
ranean merchants, who have for some time been the
most active buyers in this market, continue to be almost
the only class front whom anything worth calling
a regular demand is found to proceed. Through
their operations, the lower counts of water twist remain
steady in value, and extra hard twist extremely firm,
while certain descriptions of T cloths, long cloths, and
domestics, recede less than most other goods. In the
finer printing cloths, also, but little concession is found.
The general tendency to depression, however, becones
more marked. In yarns, the decline from the late high-
est prices may be broadly stated as varying from p. to
Id. per lb., according to the class quotoc ; and in the
medium numbers •f cops it is even more, as much
as ld. in cop twist. India goods may be con-
sidered as having now fallen to Old. per lb., at which
price some business has been done. We hear of offers
at the rate of 9.1 d.
HUDDERSFIELD, Nov. 20.—We have no better account
to give of the market to-day than previously. Business
is, indeed, very flat, and work rather scarce. Some par
ties, we understand, are working short time ; but the
effects are felt more seriously in the vicinities than just
in the town.

NOTTINGHAM, Nov. 23.—Much depression still exists
in the lace and hosiery trades of the town and neighbour-
hood, without any apparent prospect of either trade being
improved until the new year begins. The lace trade
being more or less influenced by the caprice of fashion ,
it is difficult to foretell its probabilities long in advance.
Cotton yarns for each trade are offered at different prices.

TEE TURKISH LOAN.

The following note relates to the Turkish Loan

" Loudon, Nov. 25.
" Sir,—ln a morning paper of yesterday it is stated that
the firman assigning a portion .of the Egyptian tribute at
a special security to the subscribers to the Turkish Loan
is unsatisfactory, inasmuch as no allusion is made to the
debt being secured on the general revenues of Turkey.
Surely this can hardly be the case, for when I invested
my money in this security I was assured that, in addition
to the debt being a first charge on the general revenues of
the country, the Egyptian tribute, 'a part of those reve-
nues, was to be so hypothecated as to be applicable to no
other purpose,

" The translation which I read in your paper of the 23d
appears to me in every respect satisfactory, and I can
hardly allow myself to doubt but that the remarks of your
contemporary must have been written in ignorance of the
facts. _ _

I beg to apologise for thus troubling you, and to sub-
scribe myself,

" Your very obedient servant,
"A HOLDER OF TURKISH SCRIP."

The writer of this note is correct in assuming that
the statement to which he refers is at variance with the
facts. Subjoined is an extract frona.,,the general bond
under which the loan is raised, showing that, in addi-
tion to the special hypothecation of the Egyptian
tribute, it is secured by the revenues of the Ottoman
empire :
" Be it therefore knovfn that the undersigned, deeming
it most for the ilerest and advantage of his Imperial
Majeity's Government to raise the said loan on the terms
and conditions hereinafter contained, do, in pursuance
of the powers 'and authorities vosted in them for- that
purpose, hereby bind and oblige the Government of His
Imperial Majesty, and the revenuits of the Ottoman em-
pire and Government to the paynnent of the said loan,
principal and interest., as hereinafterAtipulated, and in par-
ticular, do specially and irrevocably charge therewith, as
an additional guarantee 30,000,000 piastres, or 282,0001,
part of the tribute payable to his Daperial Majesty by his
Highness the Paella of E_gypt, and in order that the said
30,000,000 piastres, or 232,0001., may be more effectually
and irrevocably pledged and appropriated to the payment
of interest and redemption eL the said loan, the undersigned
engage that the necessary firmans and authorities shall be
missiutteadneweitthato(fletloaythfeorß
insuringank of ntghlerinddueoarnßdapnkunocftFuaralnrcee-
so that the same may b 3 at the disposal of the agents of
the loan in London for that 's
purpose.