The Sun.
London, England, 1866-05-09 00:00:00

STATE OF TRADE.

MANCHESTER, May B.—Advices from the United
States to the effect that the price of cotton had
given way there, the further advance of discounts
by the Bank, and the continued apprehension of
war, have all combined this week in causing further
dulness and depression in this market. They have
all but led to a suspension of business. Sellers of
shipping yarns report the market worse than
it has ever yet been, so that it is quite im-
possible to make sales at anything like reason-
able prices. The market in this branch closes very
depressed, and lower prices are quite the order of
the day. In home-trade yarns the market has also
bJen very depressed, and things are reported to be
worse since the telegram announcing that the bank-
rate had been raised to 8 per cant. than they were
before. In some quarters manufacturers are reported
to have bought at an advantage_of id to id. per lb.
as compared with last Friday ; but even at this
of
pressing
reductio they are only purchasing to cover the more
the wantsm so
fthe day or week, and appear to
have no confidence in prices recovering, or, in fact,
seeing .
high again. For cloth there is
no market to-day
There seems to be a general
agents and buying
want of confidence
aegveenrytsw. heprer,iebenotahreavmeornyglnswellianndg
almost nominal. Very low offers have been taken,
manufacturers showing
more disposition to press
goods upon the market ;
but
how they make offers at all,anbduyareersshaorwein
reticence generally. Ascgaugtiroeuast
compared with this time
last month, sellers' prices have been lowered 2s. ld.
to 2s. 4d. per piece in mada 11 po anis, 2s. 6d. to 4s.
per piece in printers, ls. 9d. to 3s. and 4s. per piece
in 39-inch shirtings, 2s. Gd. to 3s. Gd. in 45-inch
shirtings, 9d. to 12d. in jaconnets, 2s. 3d. to 2s. Gd.
in T.-cloths, and 3s. 9d. to 4s. in longcl h
ot s ; but
even at these low rates such quotations a •re m many
cases only nominal. Messrs. John Slagg and Co.
report of the cloth-market
this day :
" IVe consider our market much weaker since last

Tuesday. Prices have daily declined, and there is
now more anxiety on the part of manufacturers to
sell. The raising of the Bank-rate and rumours of
war have, doubtless, contributed to this result."
LEEDS, Bth.-..-The cloth-hall markets to-day have
again been of a quiet order. There was only a
small attendance of sellers as well as buyers, and
while the latter purchase cautiously, and no great
bulk of any particular description of goods, the

former are not bringing very liberal supplies to
market. A fair quantity of cloth, however, is de-
livered direct from the manufacturers to the mer-
chants, and the general condition of the trade is sa-
tisfactory, the only contrary circumstance being a
little gloom from the unpleasant aspect of affairs on
the continent. Canadian buyers are beginning to
make their appearance, but not much business has
yet been done with them for the " fall" trade, for
which, however, there is reason to believe there
will be a good demand, our North American colo-
nies being prosperous, and English cloths being also
wanted in the United States, to which they find
their way through Canada. The zountry clothiers
report that they are tolerably well employed on
orders, and the large manufacturers are as well em-
ployed as we have lately had to notice. There is a
reduction in the price of cotton yarns, which has a
tendency to slightly lower the price of union goods,
in which some export houses are doing a good busi-
ness for the continent.