The Sun.
London, England, 1840-09-10 00:00:00

STATE OF TRADE.

MANCHESTER FAILURES.
(FRONI A LIVERPOOL CORRESPONDENT.)
There is no foundation for the reports of the failures
in Manchester being anything near to the amount stated
in the London newspapers.
The largest does not exceed 60,000/., and the party
is not a holder of many railway shares, excepting the
Dover line.

The only other failure of moment will pay in full.
In fact, there was never grosser misrepresentation,
than seems, on this occasion, to have been sent to the
London press.

Since Friday last, much excitement has been caused
upon our Exchange, by the occurrence of three
failures, one of which caused great surprise, as well as
alarm, amongst all classes of persons ; the party being
generally considered a man of considerable property,
and having maintained his credit in the market un-
impaired, down to the very day when he stopped
payment. Owing to these failures, it was fully
expected that the market yesterday would have
exhibited a very serious falling-off in demand and
in prices, as compared with that of the preceding
week, We are happy, however, to be enabled to
state, that, although the influence of these untoward
events was felt to some extent in the morning, the state
of business in the afternoon was decidedly better than
might have been reasonably expected ; and, upon the
whole, a fair business was done at previous prices, a
fact which, under the circumstances just mentioned,
shows
‘v e greatthineekreyilLtaeos
erroneous
rightdco
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stetisaii, e.ttsaeptt,nae:mav
Newspapers
statements
tt h
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viewnewdh
elsewhere,i
ehoi
a e correct-
ionth beenat
ntiliaCleseaxmitneenttiof the principal failure, that of Mr. Forth.
has been very greatly exaggerated. Instead of 400,000/.
or 250,0001., both of which sums have been mentioned
as the amount of his engagements, we are assured, on
the very best authority, that they will certainly not
amount to 60,000/., and will most probably not exceed
50,000/. The effect of this failure on the London stock
market has been (as will be perceived from our usual
extracts from the London Newspapers) great to an ex-
tent which would be ridiculous, were it not attended
with severe loss to many parties. Amongst other
consequences produced by it in the metropolis, was a
fall of 11/. in the shares of the London and Birming-
ham, and Si. in those of the Great Western Railway,
on the alleged ground that Mr. Forth was a very large
holder of those and other shares, which would neces-
sarily be thrown upon the market by his failure. The
fact is, as we are well assured, that Mr. Forth was not
the owner of a single share in either of the companies
named, and the entire amount of railway stock, of any
kind, standing in his name, or belonging to him at the
importance),time
of hi
s s
dido
ntx
e (chieflyceed 10,0
in no 01. which,
leh v
s ofe small
ba i
tl lsf
ILA
offered all at once, would produce any very serious
effect upon the market.
With respect to the other two failures that haveaoc-
curred, they
concerna re
areof minor
said t
oc
amounts equen
tc0e.25,0T00h7 de. ;
of the other to 5,000/. ; but neither of them is likely
to be productive of any serious consequences in the
neighbourhood.
We think it right to add, that several reports of
further failures circulated yesterday (and amongst them
that of a foreign house here) were altogether destitute
of foundation.—Manchester Guardian.

change in the
for
and
weeks past, espe-
cially FLANNEL MARKET. MONDAY, SEPT. 7.
happens that the
—We have had another brisk market to-day, and flan-
nels have met with a ready sale at former prices ; the
woolpri
ce markets.
tif
.n_o
HUDDERSFIELD MARKET,
a i
oew( seldom This was quite
as
isagnoyo d
ina
smarkettout v‘d,oaoyll
cans
sboughttock o fup s a
lfer eaebllye. fancy, which were
is
"and "I
quantity. They
are purchased as they arrive, the.dernand is greater
than the supply. Nevertheless, prices are very low.
In superfines there is not so much doing g in the hall ;
but in the warehouses the demand 13 better for the
roods is
finer sorts, and prices arc rather on the advance. In
superfine fancy goods there is not quite so much doing ;
but, on the whole, there is cause for congratulation for
the improvement.
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