The Sun.
London, England, 1853-11-12 00:00:00

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SUN OFFICE, Si o'Clock.

STATE OF TRADE.

(Front the Manchester Guardian of this day.)
MANCHESTRR, Nov. 11—Throughout the present week
there has been a more decided abstinence than before
from any but such small purchases of yarns and goods
as might be absolutely necessary in the way of assort-
ment. It is felt to be of vital importance to the interests
of the country that we have now had ten or twelve days
of weather highly favourable for preparing the land and
sowing wheat ; but even this most propitious circum-
stance, with its influence upon the price of corn and upon
the state of the money market, aided by our greatly di-
minished production of yarn and cloth, and by the con-
sideration of the very considerable fall which has taken
place in prices, entirely fails to induce anything like
ventures on the part of either home or foreign buyers.
There is indeed some little speculation in cotton at
Liverpool, with a hardening in prices, occasioned by
very apocryphal accounts of a "killing frost" having
occurred in the United States. Under these circum-
stances, there is a somewhat increased desire, though no
pressure, to sell ; and it may be said that the bias of
prices is, in many things, slightly against producers.
This is not the case, however, in India mule yarns, for
which there is rather more inquiry. Warps, also, up
to 24's, continue steady.
GLASGOW, Nov. 11..—There has been a quiet market
for cotton during the week, the trade only purchasing
sufficient to supply present wants., Prices are un•
changed.
BRADFORD, Nov. 14.—Wools : There is no change
during the week, and the buying is on the narrowest
scale possible. Yarns—The supplies are most mate-
rially diminished, the continued short-time working,
stoppage of machinery, and ruinous price for yarns,
compared with the cost of the raw material, compel the
spinners to cease working, as near as they possibly can,
till a turn for the better presents itself.
NOTTINGHAM, Nov. 10.—There is no alteration in
thi3 lace trade worthy of notice since our last.
LEICESTER, Nov. 10.—Nothing is buying in any
branch but to complete orders. Long wools are giving
Way ; short kinds hold their value.

STATE OF THE WOOLLEN TRADE.

(Prom the Leeds Mercury of this day.)

LEEDS, Nov. 11.--There has been a better business
done in the woollen cloth market this week. There
have been several buyers in the town during the week ;
considerable activity has prevailed, and a better busi-
ness has been done in those warehouses that are mainly
engaged in the London trade. As the season for the
country demand is nearly at an end, this branch of our
trade is beginning to be rather quieter.

HUDDERSFIELD, Nov. B.—There has not been much
doing in the Cloth-hall or the warehouses ; several large
buyers have been about, however, but more for the pur-
pose of looking after anything jobbish than for the sup-
ply of any general wants. Prices still easier.
ROCHDALE, Nov. 7.—There has not been much change
in the flannel market to-day. If lower prices had been
submitted to, more business would have been transacted.
Wool has been rather firmer to-day, arising principally
from the London wool sales.

HALIFAX, Nov. s.—We have continued depression in
both the piece and yarn departments of business, nor is
there at present any clear prospect of their attaining a
more satisfactory position. The wool market is very dull
and unsatisfactory prices both of coining and clothing
kinds still showing a drooping tendency. There have
been a few sales of middle wethers at 14d. per lb., and
of common noils and brokes at 12d. Quotations, how-
ever, are very irregular in the market.

MINING INTELLIGENCE.

(From the Mining Journal of this day.)

Shares in a great many mines have been in request
this week, but at very low prices. Whilst on the
subject of low piices, we may remark that we
have received several communications upon the
present state and condition of the mining market,
and the manner in which property is depreciated in
value by what is termed " price making," and
" bearing" of shares. There is an old saying, we admit,
that the " value of a thing is what it will bring ;" hut
in a limited and speculative market, like that for mining
shares, this does not always hold good. There is generally
some favorite stock of the day in which the public buy freely,
and to which the main attention of the dealers is, for the
time, directed; and in many other good and promising
mines no business may be transacted for weeks ; for,
without buying orders on the Market, the dealers do
not increase their stocks, without they get great bargains.
It is easy therefore to depreciate the value of such mines
as these, and upon such, as it appears from the informa-
tion we have received from the largest dealer in the mar-
ket, it is the practice of a few parties to act. To exemplify
our meaning more particularly, let us take the case of
Speedwell, the price of shares here (1024th), was 61. per
share ; when suddenly, one morning of late, a daily
paper gave the quotation of an actual sale at 21. 14s. per
share. The shareholders, particularly those residing in
the country, became naturally alarmed at seeing a sud-
den depreciation of nearly 4,0001. in their property ;
but, on enquiry, it turned out that a very few shares
only had been forced on the market, and in " price
Making" sold at 21. 145., that quotation being immedi-
ately forwarded for' publication, to establish it, if
possible, as the real value of the shares. This is
but the type of many ; and we should advise share-
holders, before they get alarmed and fall into the traps laid
for them by the " bears," to make enquiry as to the true
causes for the very low quotations often made, and
which have brought the mining market into its present
depressed condition. Many dividend mines have not
quite maintained their prices.
In the Bullion Market,—Mexican and South Ameri-
can dollars, ss. ld. per oz. Bar silver containing gold,
all gold above 5 grs. in the pound to be paid for, ss.
2gd. per oz. standard. Bar silver without gold, ss. 2id.
Per oz. standard. Bar gold, 778. 9d. per oz. standard.
Spanish doubloons, 775. per oz. Columbian doubloons,
78s. 6d. per oz.
The gold mining share this week has been very quiet ;
prices on the whole have been fairly :supported, but the
dealings have not been sufficiently extensive to give a
decided character to the market. The exception has
been Agua Fria shares, which have been in increased
demand, owing to favourable advices ; from the reports
Published to-day, Anglo-Californian have likewise been
enquired for. The accounts from California state that
the mines there are progressing, and before Christmas
it is anticipated that some actual results will come to
hand.

EXTENSIVE CONFLAGRATION AND GREAT
DESTRUCTION OF PROPERTY.

Yesterday morning, shortly after eight o'clock, a fire
of a very alarming and destructive character, and nearly
attended with fatal consequences to several persons,
broke out in the premises belonging to Mr. James
Reeves, looking-glass and picture-frame manufacturer,
situate in Queen-street, Pitfield-street, Horton, at the
rear of Mr. Alderman Lawrence's extensive timber-yard
and builders' workshops. At the time of the outbreak
11r. Reeves and three of his children were in their beds
asleep. A lad, who was the first to discover the fire,
at once raised an alarm, and after repeatedly shouting,
" Fire," and knocking on the stairs, he succeeded in
making his father and the remainder of his family sen-
sible of their impending danger, but not until the flames
had commenced breaking through the floor of the ground
story, which allowed the smoke to ascend in such strong
-volumes as:to nearly stifle the occupants. By a desperate
effort the whole of the parties, however, effected a safe
retreat in their night clothes. Owing to the exceedingly
inflammable nature of the stock in trade in the premises
the fire travelled with such rapidity that before an en-
gine had time to arrive the flames had seized upon every
room in the premises, and strong fears were entertained
that the premises of Mr. Marshall, patent beer-engine
manufacturer, next door, and also the spacious timber-
yard and carpenters' shops of Mr. Alderman Lawrence
-would fall victims to the fury of the destructive ele-
ment. The engines of the parish, London Brigade,
and West of England Insurance-office, quickly at-
tended, and an abundant supply of water having
been obtained from the mains of the New River Com-
pany, not a moment was lost in setting them to work ;
but in spite of the most strenuous exertions of' the in-
trepid firemen, the work of devastation continued, and
It Was several hours before the least impression could
be made upon its violence. The firemen, however,
kept to their work ; but it was nearly five o'clock in
the evening before the fire was wholly subdued, and not
until the greater part of Mr. Reeve's stock in trade was
destroyed which was piled in the front premises, and a
?onsiderable quantity of the property lying between the
house and Alderman Lawrence's partially consumed.
Fortunately, Mr. Lawrence's premises have not re-
ceivedi the least injury. The sufferer was insured for
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stock in the trade in the Manchester Fire Office, and it
I:1 understood that the building was insured either in the
Legal and Commercial, or West of England Fire Office.
The origin of the disaster is unknown.

About one o'clock yesterday morning i nformation
Was received at the fire-engine stations in town, that a
terrible fire was raging in Burcham-street, Bromley
(Middlesex). To that noint the various engines of the
-Brigade and West of England started, upon reaching
lnch it was found, from some cause not clearly ascer.
tantled, that a travelling show standing in the open
Freund had taken fire. From this vehicle the fire ex-
n
Mirded to another show, and finally to a third. The
ee erections being in a general blaze, the firemen in-
Ine!liately set to work, and after some time suceeded in
were the fire, but not until the three carriages
were either destroyed by fire, or by pulling down. The
prleer of the property (Mr. D. Allen) was insured in the
nlencelll4-°ffiee. A man named Holliday was instru-
, Lai in rescuing the wife of the proprietor of one o
the vehicles.

b DEFALCATIONS BY A POOR-RATE COLLECTOR.—Tho
tereweather,
tkbard of DEFALCATIONS
of the Salford union have discovered
"a M one of their poor-rate collectors, has
collected moneys to the amount of 901. without account-
-101:F for them
;11), and they have suspended him from his
me, determining not to prosecute him, but to conic
lastlo. ilia sureties. The defaulter has had a salary of at
120/. a year, • and yet has been unable to keep
f„1174,8e1f straight with his employers from his fondness
Intoxicating drink!).

The return of the Bank of England for the week
to the sth instant, fully bears out the assertion
that the bullion would show an increase for this, is
very decided. It would be highly satisfactory if
the augmentation could be expected to be main-
lained, and should a state of warfare arise upon the
Continent, we may presently witness such effects
as ensued after the last revolution in France, when,
for safety, specie was sent constantly to this coun-
try, and in some cases invested. On the other hand,
it should not be forgotten that there is grain to pay
for, and as usual, when hostilities rage, a slacker ex-
port business. The winter season, already com-
mencing, must stem the tide of invasion as well as
of resistance, and it is possible that this will have
its influence in keeping alive the impression that
there will be an ultimate adjustment by the negoti-
ations of the allied powers, or by a Congress in
London. Another item in the Bank account that
shows increasing strength, is the sum of unem-
ployed notes which is again increasing, both from a
lessened demand for discount accommodation, and
an increase in the balances of the Government.
The circulation was necessarily curtailed in propor-
tion. On comparison with the previous return, the
following changes are observable :
Active circulation £22,627,445
Decrease 359,905
Bullion 15,659,164

Increase
Rest

388,480
3,184,275

Increase 8,782
Public Deposits 4,077,159
Increase
Other Deposits
Decrease 151,646
Seven-day and other Bills e 1,314,485

Decrease
Government Securities
Other Securities

42,411
No alteration.
16,749,699

Decrease 506,191
Notes unemployed 6,419,835

Increase...

741,385

There was a decline again yesterday afternoon
in the rates for bills upon most of the continental
cities. Paris, 90 days, was taken at 25 20 to 25,
Amsterdam at 11 15i- to 16, Hamburgh at 13 41
to 5, Frankfort at
.1181 to 119, and Trieste at
11 30 to 35.

The amount of bullion exported direct from
London during the week to last Thursday was
8,172 ounces and 510/. in gold, and 17,893 ounces
and 5001. in silver.

The staple trades of the three northern rivers,
Tyne, Wear, and Tees, are about to receive that
stimulus to their production to which we alluded
under this head in The Sun of January last, by the
intended opening of the French markets. We are
informed that the iron question", which is virtually
settled (the reconciliation of the conflicting opinions
of the French iron trade having been placed in the
hands of the Emperor's adviser, the Comte de
Morney), is only one of those affecting a series of
raw materials which will come under the operation
of free-trade principles.

The English Stock Market has been without any
material alteration, but the " backwardation" has
rather gone off. Consols have brought 93i to 94/
for Transfer, and 937 r to 94i for Account. The
new 31 per cents. have been 94i to 95k, and the 3
per cents. 92 to 93i. Bank Stock is at a rise to
218. Exchequer Bills are 2s. to ss. premium, and
India Bonds 2s. discount to par.
The Foreign Stock Market has been inactive.
Mexican aro 25/, Buenos Ayres 58, and Spanish
New Deferred 24. Dutch 2 per Cents. bring 63/.
Railway Shares have been at about the former
rates. The French lines are very quiet, but firm.
Gold Mines are more active and rather better.
The Land Companies aro lower, and the Banks
rather flat. •

BRITISH FUNDS THIS DAY.
(From the Official List.)
Business done.
Bank Stock
3 per Cent. Reduced Annuities 928- 3i 3
3 per Cent. Consols Annuities 944 3 48 4
New 34 per Cent. Annuities 95 4 41
Long Annuities, Expire sth Jan., 1860 -16 4
India Stock 251
India Bonds, £l000
Ditto, under £lOOO 2 d
Consols for Account
Exchequer Bills, ld.
£l000
1!500 5 2 p
Ditto Small
PRICE OF FOREIGN FUNDS THIS DAY.
Buenos Ayres Bonds, 6 per Cent 5B
Mexican 3 per Cont.
Peruvian Bonds, 44, per Cent. —
Ditto 3 per Cent.
Sardinian Bonds, 5 per Cent...
Spanish Bonds, 3 per Cent 45
Spanish New Deferred, 3 per Cent. 2l/
Spanish Committee Cert. of Coup. not fun. 5g i p c
Dividends on the ab ov e:p ay abl e in London.
French Fuentes, 44 per Cent 99f. Ex. 23f.5 c.
Dutch Exchange, 24 per Cent. 12 Gull 631
TWO O'CLOCK.

Consols 94 k
Ditto December Account 94