The Sun.
London, England, 1867-09-04 00:00:00

STATE OF TRADE.

MANCHESTER, Sept. 3.—The slightly better tone
which was yesterday thought to exist in -conse-
quence of a steadier cotton market at Liverpool has
not borne the test of a more thorough business day
like this, and, except that the market is a little more
lively in consequence of a more general inquiry
than we have had lately, there is no change. This
more thorough inquiry seems to have been merely
the result of the supposed greater disposition to do
business, but has really led to very little
indeed. Country manufacturers coming to
market this morning say they have found
things as bad as they ever knew them to
be, with prices only obtainable which would involve
a considerable loss. In shipping yarns sellers re-
port prices steadier, and a little more business doing
at the very low prices of Friday, principally for
China, hut they say that the Calcutta houses are
operating very sparingly, and are not disposed to
buy except at very reduced rates. Home trade
yarns, sellers say, are a little more settled and regu-
lar in price, but the very lowest prices of last week
have to be submitted to where business is transacted.
In this class of yarns the business of the day
has nearly reached an average. Manufacturers say
they have bought yarns at the very lowest prices
touched since the cotton famine, and certainly on
easier terms than they could afford to spin them in
their own mills. The cloth market is without
change. Though very little business has been done
during the past week in the ordinary course, yet
buyers, making offers for large quantities, have
succeeded in transferring some considerable
stocks from sellers' warehouses for shipment
at something under the lowest quotations in the
open market. These transactions would pro-
bably have extended but for a sudden check given
by the latest telegrams from Calcutta reporting
further depression in that market. More business
could have been done in India goods to-day on the
same low terms, but the advices from Calcutta seem
to have led buyers here to suspend operations for
the present. The buyers for China have now been in
the market for some weeks, but have not done much
in aggregate amount. They appear to have been
more employed in actively testing prices as they have
slowly declined than in purchasing to any great ex-
tent. Home trade cloths are again quiet and de-
pressed. Country manufacturers say they never
witnessed so much caution displayed. The orders
they receive even from first-class houses are re-
stricted beyond all precedent, and as a rule may be
reported at about one-sixth in quantity of the orders
which would be given in a normal state of the mar-
ket. Not only is very little business doing, but
prices are very depressed for this class of goods.
ROCHDALE, 2d.—There was a rather better at-
tendance in the flannel market to-day than last
Monday, and more disposition to purchase goods
was shown. A good bulk of plain as well as fancy
flannels was sold. A fair amount of business was
done in different classes of flannel for exportation,
as well as for the home trade. There was a slight
improvement also noticeable in the Yorkshire goods
trade. There was no change as to wools, manu-
facturers buying sparingly, but prices of wool, as
well as of goods, are firm.

LIVERPOOL COTTON MARKE7—This Day

The Market opens steady, at yesterday's rates,
Sales probably 10,000 bales.

The Price of Gold.

The quotation of gold at Paris is about at par, and
the short exchange on London is 25f. 2'c. per £1 sterling.
On comparing these rates with the English Mint price of
lie.loo. per ounce for standard gold, it appears that
gold is about 1-10th per cent. dearer in London than in
Paris.

The oouree of exchange at New York on London for bills
at N days' sight is about i0:1 per cent. At this rate there
is no profit on the importation of gold from the United
States.

SOUTHAMPTON, SEPT. 3.—The Hamburg and
American Company's steamship ilammonin, from Now
York, has arrived here with 107 passengers for this port,
Havre, and Hamburg, $5,000 iu specie for London, and
$11,200 for Hamburg.