The Sun.
London, England, 1857-12-25 00:00:00

STATE OF TRADE.

(Front the Manchester Guardian.)
MANCHESTER, Dzo. 22.
here was an expectation that we should have a
somewhat better market to-day, in consequence of
gr9wing facilities in discounts, and of the id. per
lb.' gained upon cotton in Liverpool. This expects-
tieln, however, has not been realised.
jn yarns there have been partial attempts to ob-
tai4 a slight advance ; for instance, certain goods
prOdnced in the north of the county, having been
just lately sold for future delivery to India aid
China houses, the manufacturers have become pur-
chasers of twist and weft to cover their con-
tracts, and the sellers of such twist and weft
are, of course, inclined to raise their quotations,
trying id. per lb., they have, however, scarcely
secpred id. There has been a disposition-to make
sonde purchases of mule twist for India, particu-
larly 40's ; but the requirement of a small addi-
tional fraction hos stayed proceedings. In actual
sales, the rates of last week are not mended. The
effeCt of the dead-lock under which the continental
merchants are held is: curiously seen in 40's mule,
Getinan and even Russian qualities, which are or-
dinarily worth id. to id. per lb. more than the _
Indian quality, are selling at the same price as the
latter, or within id. The sum up, water and mule
yarns in bundles, warps and cops, front 50's down
to the lowest number, cannot be said to present any
improvement beyond the slight and doubtful ap-
pearance referred to above ; and prices in the ag '
gregate, though not quoted lower, cannot. be
reckoned as more than stationary. Bolton spinnings,
frodt 60's upwards, show no amendment.
Although the crisis is being got over in Ham-
burg, and though no noticeable mischief in the way
of failures among the customers for our yarns in
the interior of Germany is yet reported—still, the
agency houses in Manchester abate not one jot of
their caution, but confine their buying to small and
indittpeasable parcels.
The sellers of goods are disappointed. The buy-
ing of T cloths, and certain prints and other fabrics,
particularly such as are 'suitable for India and
Chien, has not been continued to-day ; and pro-
ducers for the east would have to make some con-
cession from the terms of recent sales, in order to,
effect further business. Much the same may indeed
b 3 said iu regard to most other articles. ,
No confidence is felt here in the higher price of
cotton ; and the reports from Liverpool show net
much faith in it there.

More is expected, by most people, from the pre-
sent amelioration of money matters that can be
realised in the channels of trade. We see it stated
that bills are discounted at 81 or 8 per. cent: ; and
we hear of short dates being done under the latter
rate.' But what sort of bills are they ? Only the
very choicest. The strict discrimination which is
exercised, both in the Bank of England and out of
it leaves a world of paper unnegotiable to keep the
hands of merchants and traders most effectually
tied up. Beginning with the A 1 bills, opening
facilities will, however, gradually extend them-
selves to thenext grades but this cannot be looked
for at a leap.
We do not think it worth our while to expend
more than a very few words upon a letter which
appeared in the Guardian of yesterday. It is al-
ways our aim to give a correct general view
of the state of the market, and of the prevalent
feelings and opinions which manfestly influence its
condition. We endeavour to make our report a
faithful reflection of realities. To this end we
compare the numerous statements we hear, both
with one another, and with our own observations ;
and the result is generally, we hope, not far from
the truth. If, in order to make things comfort•
able, for men like our censor, we were to deal
with the facts of the market, as the chairman of a
certain railway dealt with the figures in his ac-
counts, our reports would be, not only worthless
and c'eitemptible, but positively mischievous.
Some further suspensions of manufacturers have
taken place iu the country, but none of them large.
We find it to be the general intention of such
country spinners as may deem it necessary to come
to Manchester a second time this week, to do so
on Thursday instead of Friday, which will be
Christmas-day.
LEEDS, Dec. 22.—Although the weather was
dark and uncomfortable to-day, we had a larger
attendance of merchants and manufacturers in the
cloth halls than has been the case for some time.
This in part owing to the renewal of commercial
confidence—an improvement which is now percep-
tible in the market—and partly, also, to the low-
ness of stocks in merchants' hands. A few consi-
derable parcels were cleared to-day, at rather easier
rates, and if the weatherwere at all reasonable, we
might expect to see larger operations, despite the
slackness of the times. We are sorry to have to
continue to report increasing distress in the cloth-
ing districts, but the operatives, although sorely
pressed by the times, are exercising a most com-
mendable amount of patience and moderation.
There will be some cessation of labour for a week
or a fortnight this Christmas, but this step is not so
much a sign of extreme depression as it is that
the machinery in each large firm may be examined
and repaired. Lot the new year get fairly opened,
money easier, and confidence more fully restored,
and we must necessarily have an active spring
trade, inasmuch as the stocks are very low, and
the merchants must supply their large consumers
with seasonable goods.
HUDDERSFIELD, Dec. 22—The weather has again
beeg exceedingly unfavourable this morning, and
has evidently had a depressing tendency upon the
market. Several buyers from wholesale London
houses have been in attendance, but their purchases
have been limited to the selection of cheap lots at
low prices, which some few of our manufacturers,
under the pressure of these " hard times," have
felt themselves compelled to take. Upon the whole,
however, there is very little disposition evinced
on the part of holders of stocks in this market to
dispose of their goods in this way. In regular
market goods, at fair prices, little has been doing,
merchants selecting carefully, and only to complete
orders on h and. The demand for unions, low
woollens, and other cheap goods continues very
limited, and is causing considerable embarrassment
to the manufacturers of them, who have now large
and increasing stocks in hand. The shipping orders
which generally came in for these goods at this
time of the year are very limited this season, and
make little impression upon stocks. The manufac-
turers of plain goods in cloths and doeskins are
adopting the wise policy of decreasing production,
and are succeeded by this means in keeping stocks
down. The present open weather is interfering
seriously with the sale of winter goods in pilots,
beavers, witneys, and other heavy coatings,
quantities of which had been prepared in antiarge
cipa-
tion of the winter's trade. We have nothing to
report in the spring styles of fancy trouseringat
twist mixture grounds with subdued borders being
most inquired for. Holders of wools in the local
wool trade are reserving their stocks until the spring
when they expect to realise better prices than are
now offered.

Probably
lloabNly°nßeTvil e
never since trthYe S 1
repeal
of the corn anSnclAmzN.—
naviga-
tion laws has the shipping of the north-east ports been in
such a depressed condition as at the present time. Ship.
ping is generally slack at this time of the year, but thin
season, on account of thelolattdup, and o
rates offref nicgohtssmen
,annicem:
mense amount of tonnage is a
great number of seamen are on shore unemployed,
Shipbuilding also is at a stand, and numbers of ship car-
penters are out of work. The docks and shipbuilding
yards present a strange contrast to anything that has
been witnessed for at least ten years, and it is pitiful to
see so many able-bodied and intelligent workmen saun-
tering about the quays and squares of the ports in idle-
ness, The men, as might be expected from their chap
meter, conduct themselves with exemplary patience,
and as a class they will suffer grievous want before they
make their condition known.' But every one is hopeful
that with the turn of the year trade will find its wayinto
its old channels again, and that the shipping interest will
speedily revive.—Manchester Guardian.

CANTERBURY-HALL, Westminster-road.—
GRAND MORNING CONCERT.

BOXING DAY, DeceiniW26,lBs7, commencing at half-
past Olio ecloirk. 'Programme, consisting of Solos, Comic
and Bonthaeutal, and selections from the following Operas
Ernani, II Trovatore, and La Traviata. Comic talent—Messrs.
S. Collins, W. J. Critchiield, aid E. W. Mackney.

HIGH WATER AT LONDON BRIDGE.
TRTS DAY—Morn., 46 min. aft. 7—Even., 17 min aft. 8
To-Monnow—Morn. 52 min. aft. B—Even., 23'nain. aft. 9