The Sun.
London, England, 1856-05-01 00:00:00

STATE OF TRADE.

(FROM OUR OWN CORRESPONDENT.)
MANCHESTER, MAY 1.
The trade circular of Maguire, Hyde, and Co., of Man-
chester, issued to-day (May 1), furnishes additional facts, if
any were needed, of the satisfactory state of the textile ma-
nufactures of Lancashire. Reviewing the mouth just ex-
pired, they say—" Throughout April there has been an in-
creasing inquiry from the chief foreign markets, as well as
for the home consumption, although the restricted condition
of the money market, which has experienced no relaxation,
has remained unfavourable to the development of commer-
cial enterprise. The production, vast as it is, has been
steadily counterpoised by demand, and as stocks have had
no opportunity to accumulate to auy considerable extent,
spinners And manufacturers have felt themselves in a position
to enforce higher terms, or reject the offers made, if below
their views. The circumstances of the country have con-
tinued eminently favourable to the importers of the chief
staples of the United States of America— cotton and
corn. The former has steadily advanced in value, in the
face of what is believed will prove the largest crop on r,:c3rd,
and the rates at present ruling hero for the latter, and which
for some time . are likely to continue, indicate that this
country is and will be a valuable market to the agriculturists
of America. From a Parliamentary return, recently issued
by the Board of Trade, it is shown that the consumption of
cotton in Great Britain has been nearly doubled within the
last 17 years, and yet the increasing development of the trade
appears to have been unchecked, even by the intervention of
la war of no inconsiderable exhaustive capacity. Compared
with last year, the stock of cotton in Liverpool is yet about
135,000 bales less, and prices are within a shade as high, as
after the extraordinary speculation which followed upon the
announcement of the demise of the Czar of Russia. Indeed
it is mainly owing to the advancing value of the raw staple
that the trade here has been kept within moderate bounds.
The extended consumption of British cotton manufactures,
as already said, has created a demand that keeps fully em-
ployed the present extent of our mechanical agencies, which
no doubt will be comspondently enlarged when money be-
comes cheaper, and the rate of profit on manufacturing enter-
prise more encouraging than it is at present.
" As regards the prospect of the future, all present ap-
pearances seem favourable to an increasing demand upon the
industrial energies of the clothing districts. The price of
bread-stuff, although still high, have a drooping tendency,
and it is confidently expected that increasing imports from
the United States and the Italian and Levautine Ports will
bring the cost of food down to reasonable limits, even before
our next harvest, which thus far is extremely promising. A
cessation of the heavy drain for foreign loans and expenditure
which has latterly prevailed, it is expected, will ere long
give increased case to the money market ; and as our
operative population are well employed at good wages
there can be little doubt that a considerable revival in
the home demand for manufactures will ensue upon the
return to a state of peace. Whilst money continued high,
taxes increasing, and the future uncertain, our drapers and
wholesale houses in the country trade kept their stocks
as bare as the exigencies of their business would admit. They
now evince a disposition to act with greater freedom, and
their operations of the past month have been on a more liberal
scale. The advices from India and China are more favourable
to an improvement in the demand for those important outlets
for the productions of this neighbourhood. Confidence is
being re-established in Australia, and trade is recovering
from the excessive shipments of two years ago, whilst the
exports from those colonies (especially wool) which have con-
siderably increased, find an excellent and remunerative mar-
ket iu the mother
vcountry. A very large amount of shipileg
will soon be gradually released from the transport service,
and come into competition in the general carrying trade,
from which it may be inferred that an additional stimulus in
the shape of low freights, will be given to the export trade of
this country. These considerations combined lead us to be-
lieve that we shall witness, as the year advances, an increased
activity of demand, and a somewhat higher range of prices
than rules at present."
In reference to Yorkshire goods it is remarkedtbat the con-
dition of the Bradford market is quite abnormal.. The high and
advancing rates of wool render it a matter of the greatest
difficulty to quote prices with accuracy This staple is scantily
supplied, arising partly out of the deficient clip of last year's
native growth, and partly out of the competition of continental
buyers at our Colonial sales. Wools, which last November
barely obtained 124 d per lb. have, during the pa,t month,
been eagerly bought at 17Ad., and higher rates arc still
hoped for untill after next clip. Yarns for export have again
advanced, making arise of fully 3 per cent. within the month.
Spinners are mostly engaged for about two months to come.
Piece goods are bare in stock, and prices continue steadily
advancing. The rise on Orleans and Coburgs is, on the aver-
age, fully 2s. 6d. to 3s. from the lost point, whilst lastings
are as much as 65., and rnoreens and damasks even more ad-
vanced in value. These extravagant prices have checked con-
tinental operations ; but American orders, together with the
Australian and Homed mand, keep all the looms fully em-
ployed, and we- see no reason to anticipate a speedy re-
action."

THE NAVAL REVIEW.---A number of persons got on
board her Majesty's steamer ffirullaYat on the day of
the great naval nview, with forged tickets. It appears
that tickets to get on board the steamers were forged in
London, and regularly old.

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