The Sun.
London, England, 1866-05-30 00:00:00

STATE OF TRADE.

MANCHESTER, May 29.—1 n shipping yarns we
have had a rather better feeling to-day, with more
disposition for business. The prices offered are still
low, but at the same time a healthier feeling is indi-
cated by the fact that people are disposed to operate
to a fair extent. There is an impression that for
long-stapled yarns prices have touched their lowest
point. In home trade trade yarns there has been a
moderate amount of business. Indeed, manufacturers
for some time past have supplied themselves so
sparingly that they are almost compelled to pur-
chase in order to keep their machinery going and to
complete passing orders. Prices generally are re-
ported unchanged, but manufacturers who have
been compelled to buy say that practically they
have found yarns about id. per lb. against them as
compared with the lowest rates of last week. Still,
there are many depressing influences which the mar-
ket bas to struggle against, and though a more
cheerful feeling is generally spoken of an existing
rise, it is too soon to speak of any established, in
values. In cloth,during the whole of thepast week and
up to yesterday,owingto the constant disturbance of
the money-market, and finally to the stoppage of the
Consolidated Bank, this market was exceedingly de-
pressed, and prices had a downward tendency. To-
day there is a better feeling prevailing generally,
and considerable offers have been made for cloths,
at a shade higher prices than were current last
week. Grer.t inconvenience has been caused by the
stoppage of the Consolidated Bank at Manchester,
consequent on the decision of the London board of
directors on Sunday evening. Many people had the
whole of their balances locked up in it, and we heard
of one depositor who had many thousands of pounds
in it, and yet had not £5 in cash available yesterday
morning for business purposes. Such persons, how -
ever, would not find it difficult to get accommoda-
tion to a limited extent at other banks. The branch
here was originally called the Bank of Manchester,
and was one of the joint-stock banks established by
and
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Royal Charter. It bad a disastrous failure about 30
years since, and the affairs took about 15 years to
wind up ; but the charter was never allowed to ex-
pire, and the bank was resuscitated by means of
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who
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dence, and was iu a perfectly sound and healthy
condition, doing a large and profitable business.
It is said down here that the London board com-
mitted themselves to the arrangement with the
London bank, not only without the concurrence of
the directors in Manchester, but absolutely without
their knowledge.
CARDIFF, 28th.—The steam coal proprietors of the
district are well off for orders, and fresh ones are
coining in freely. During the past week the want of
tonnage at the docks seriously impeded operations,
but, now that the wind has changed from the east,
a goodly arrival of vessels is expected. There is a
brisk demand from the foreign markets, especially
from Italy, France, kistria, and Prussia, and
freights to those countries have advanced consider-
ably. The home trade is also characterised by much
activity, and increased quantities are being sent by
rail to Birkenhead, and to the metropolitan and
midland markets. In the local sale of house coal
there is no change to notice. In the iron trade the
works are fairly employed in executing arrears and
orders that have come in recently. Business is very
quiet, and the utmost caution is used by makers and
buyers. Contracts from the foreign markets come in
slowly, and scarcely any business is being done on
home account. In fact there is no probability of trade
assuming anything like activity until the prevailing
difficulties which surround it are removed. The in-1
quiry for pig iron has slackened, and the tin-plate
works depend on old orders to be kept going.
LEEDS, 29th.—To-day's woollen market has been
very quiet, even for a between-season period. There
was about an average attendance in the cloth-halls,
but none of the parties recognised as usually leading
off extensive operations were present. Buyers seem
deterred by the fear that the commercial panic has not
whatever yetpasseddesaewrvaiyng away. A few scanty lots of spring goods,
scarcelya betterev e r
pffd
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ems name than
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The were
sold to-day atbest
demand seems to be for low unions of the Sattara
and other makes. Inquirers after samples for next
season's goods were most of them unsatisfied ; but
manufacturers have made large deliveries, according
to order, and at the warehouses stocks are now get-
ting large of all goods of the beaver and other heavy
classes in a variety of shades. In the white-cloth
hall there was only a moderate supply of heavies,
but sufficient to meet the day's requirements.
orriNGitAlr, 99th.—There was a firmer feeling
in the yarn market at our Exchange-hall to-day.
The attendance was about an average, and fine
nnmbers of lace yarns were held at full prices ;
for coarse numbers the demand was slow, but
late rates were quoted. The demand for hosiery
yarns underwent a slight improvement, and previ-
ous rates were maintained. In silks scarcely any-
thing doing, but prices remain firm. The demand
for brown nets continues very flat at unaltered rates;
prices for this description of goods are still below
prime cost.

ROCHDALE, 28th.—The flannel market has been
more lively than for some time past, but it was more
on account of the number of buyers and manufac-
turers present than because of a reinvigorated de-
mand. Some of the representatives of London and

Scotch houses were buying limited quantities of
fancy goods, and this was the only department in
which there was animation. Makers of these goods
are kept fully employed, and the whole industry of
the town and neighbourhood is likely for a time to
be well sustained, as a large Government order will
be competed for in a few days, which will require
some lengthy operations before it can be completed.
The demand for common Yorkshire woollens is as
flat as it was ever known to be ; and wool is only
brought to meet immediate requirements, though the
languid nature of the demand does not shake prices.