The Sun.
London, England, 1867-10-23 00:00:00

S 7 ATE OF TRADE.

MANCHESTER, Oct. 22.—The large business done
at the close of last week in cloths suitable to the
markets of India has not been followed up to-day
by operations of any moment, nor are buyers dis-
posed to endorse the enhanced quotations which
those large operations entailed. This market gene-
rally sympathises with the depression in Liverpool
to-day, and the uneasy feeling arising from the
failures there has spread a gloom over business circles
generally. In the extensive operations referred to as
taking place last week no doubt buyers supplied their
wants pretty freely. On the other hand makers of
cloth aro not desirous of entering into further con-
tracts under present circumstances. For these reasons
we have had but a limited business in thirtings and
other Indian classes of goods, and sellers have to
quote prices decidedly lower. There is some business
doing in printing cloths, but the home trade con-
tinues without much movement, and this branch of
the market may be characterised as languid. The
high prices which have to be paid by the working
classes and the greater portion of our home consumers
for food—especially for bread and fleshmeat—absorb
too much of the incomes that should go towards the
clothing fund to encourage much enterprise on the
part of our country houses. The reports given by
drapers in all parts of the three kingdoms are dis-
couraging. Some of our large houses are withhold-
ing their travellers from this cause, and the prudence
which has so long induced them to keep their stocks
low still points to a continuance of this policy as
desirable. The yarn market has been quiet, but
steady. In shipping yarns all qualities made of good
cotton and the spinners of many counts are well
under contract. People hero to-day have taken a
more favourable view of the state of things with
regard to Italy, and this has caused buyers of yarn
for the Continent to operate more freely than of late.
In home trade yarns we should have had a better
rnarkgt but for the Liverpool failures, but though
there has not been much business prices have given
way but little. Messrs. John Slagg and Co. report
of this day's cloth market :—" The large business
done at the end of the week has naturally resulted
in enhanced quotations, but we find no disposition
to continue operations at the advance. As makers are
now well engaged, and buyers have for the moment
satisfied their wants, we have to report but little
doing to-day, and a weakening tendency in prices."
CARDIFF, 21st.—The satisfactory position which
the steam coal trade was said last week to have
attained has not been materially altered, the exports
still being something considerable, especially to
Aden and Bombay. Proprietors and merchants
believe that Government will require con-
siderably larger quantities if the Abyssinian expedi-
tion
is prosecuted with 'vigour, and at any moment
a rise may take place in freights to the mail packet
stations. Fresh contracts will probably be given
1 out at an early date for the Cape of Good Hope,
Galle, and Singapore, and although the exports are
at present in excess of the corresponding period of
last year, the opening of new colleries, and facilities
afforded at nearly all the pits for a large output,
have enabled proprietors to meet the increased de-
mand with promptitude and despatch. For house
qualities about an average quantity is being shipped
for West of England and Irish houses, but there is
room for considerable improvement in this branch
of industry. In the iron trade the reports received
from the various works are hopeful, and a belief is
entertained that the demand both on home and
foreign account will considerably increase before
long. The plates are in tolerably fair request.
LEEDS, 22d.—It is seldom that the autumn gets
so near its close without more clear manifestations
of what is likely to be the peculiarity of the trade
whose turn next comes round. From day to day
this is looked for, but only to meet with disappoint-
ment, though there was a pretty general feeling to-
day that if the corn trade at home continues to be
less alarming, and warlike prospects abroad col-
lapse, there will be yet, before the end of the year,
a good stroke of business done in spring goods.
Manufacturers are all in readiness to execute
orders to any extent, and the more eager are they
to be doing so, inasmuch as to-day's woollen-
market has shown that there is less chance than
ever of any repeat orders. Neither in the
coloured nor white cloth-hall has there been much
animation, but tweeds have sold as well as
usual. The kinds which are made up of
orange warps are most favoured by buyers, when
those having a good finish can be met with. That,
however, is only rare, as experience shows that the
dyeing process they are submitted to is a difficult
and critical one. Coatings and plain cloths have
been quiet, but for beavers and thick witneys there
has been fully an average demand.
ROCHDALE, 21st.—The flannel market has im-
proved a little, and for several days there have been
indications of a better demand. To-day manufac-
turers have had more occasion to be brisk than for a
long time past, and purchases from stock as well as
orders in anticipation have been fairly numerous.
It is, however, only the plain goods department
which has thus suddenly become animated, and a
good deal no doubt is done on speculation, while
some slight advantage can be had in prices, as the
greater part of roost recent orders have come by post.
The appearance of the market, therefore, was quieter
than the real state of the ease warranted ; and, fancy
flannels being out of favour, provincial houses were
for the most part unrepresented. There is a remark-
able falling off in this department as compared with
last autumn. The I orkshire woollen branch is in a
miserable state, notwithstanding the season. Stocks
are not heavy, owing to the cautious conduct of
manufacturers, who still continue to do little more
than work from hand to mouth. Wool seems to
have gone as low as it possibly can do, hence there
is likely soon to be a reaction. At present more
business is doing, on favourable terms to the buyer.

News from Berlin last Monday Informs us that
Herr Dellbruck proposed that the Federal President shcAdd
bo authorised to conclude a treaty of friendship, comtugee,
and navigation with the Republic of Li . ria.