The Sun.
London, England, 1858-01-25 00:00:00

COMMERCIAL INTELLIGENCE

CITY, Two O'CLOCK.

Advices received this morning from the manu-
facturing districts represent business as gradually
improving. The transactions, however, in most
descriptions of goods are confined to immediate
wants. At Birmingham the iron trade had exhi-
bited symptoms of improvement, notwithstanding
the disturbing influences to which it had been sub-
jected of late. The makers of all the best brands
refuse to accept orders unless at improved terms.
The general business of the town has shown little
amelioration, the orders being small for most de-
scriptions of hardware goods. At Manchester
most of the mills have resumed operations, and
many are working full time. Cloths suitable for
India are in good demand at an advance of about
ld. to 1-id per piece, and rather more business has
also been done in shirtings and printings. The
advance, however, in the value of the raw
material has, in a great measure, checked
business. Manufacturers complain that pre-
sent rates are unremunerative. At Leeds
the condition and prospects of the woollen trade
have decidedly improved. During the week the
warehouses have done a good business in all de-
scriptions of cloths at rather improved rates, but as
there are several job lots in market—stocks of in-
solvency firms—buyers expected to obtain bargains,
which were not in all instances realised. At Brad-
ford business has been rather inactive, and there is
no change to report in the values of either wools
or piece goods. No active demand seems to be
looked fur until April next, when it is expected
that the requirements for the American markets
will cause increased activity. At Halifax, the
carpet trade has exhibited signs of improvement,
most of the mills now working full time, and there
has been a moderate inquiry for piece goods.
Prices rule firm. Trade at Nottingham during the
week has been rather brisk particularly in the lace
department. In hosiery goods, however, there
is less activity, manufacturers resolving not to
increase their stocks until the spring is far-
ther advanced. There has been some improvement
in the hosiery trade of Leicester, although consider-
able caution is exercised by manufacturers, most of
the warehouses having been actively employed, and
stocks of all descriptions are unusually low. More
machinery has been employed ; and as the spring
advances, it is expected that most of the operatives
will be fully employed.
The Liverpool Cotton Market on Saturday
closed with an improving tendency, and compared
with Friday's rates, prices of all kindswere extreme.
The sales were estimated at 12,000 bales, 3,000 of
which have been taken on speculation. In the
Railway Share Market a firm tone was apparent,
and a fair amount of business was transacted.
There is no alteration to report in connection
with monetary affairs ; but the Bank return issued
last Friday has strengthened the conviction that
the terms of discount must descend below 5 psr
cent. The maintenance of the minimum at that
point, when the rates out of doors are little more
3 per cent. is preposterous, and cannot be
upheld much longer with any degree of
justice to the commercial community. Before
a thorough resuscitation of trade takes place,
great facilities must be afforded, and the directors
will probably perceive the necessity of making a
further relaxation at once. The position of the
establishment, in every respect, would warrant it,
and if the reduction of another 1 per cent. would not
bring an accession of business to the establishment, so
on the other harulthemeasures of relief now required
can be productive of no harm, but on the contrary
great benefit to those engaged in mercantile opera-
tions. New companies are making their appear-
ance with rapidity, and the preliminary deposits
and early calls will soon have the effect of absorb-
ing a large quantity of the capital now seeking
investment. The shares having attained a pre-
mium, other companies will, no doubt, beat started,
and it is, therefore, desirable that the
sgreest as-
• tance should be given to trade with the view of
securing a return of activity, before too
vetted into
uch of
the capital temporarily unemployed is divert
channels which, for some time to come, must neces-
sarily prove unproductive.
On Saturday no gold was taken
into the Bank of
England, Two or three vessels, however, being
overdue from Australia, the movement will, no
doubt, soon be resumed.
During the fortnight, ended Saturday, the
Hon. East India Company drew bills upon the
threw Presidences to the extent of 4,3251. 7s. 4d.
The Clearing House will be closed to-day at a
quarter to 3 o'clock. .
The Stock Exchange to-day is closed, in honour
is in othe
of the Royal marriage.
rtißal holiditiinessay isdull generally ob-
r
departments, and a p
a
served, the attendance of the mercantile community
being very small.