The Sun.
London, England, 1861-05-08 00:00:00

STATE OF TRADE.

MANCHESTER, May 7.-- Yesterday and to-day the
market both for yarns and for piece-goods has
shown greater quietness than can be recollected in
either department ior a very long time back. In
yarns buyers are holding aloof, mainly from the
high prices asked by spinners, whose quotations are
still rising since the end of last week, cotton
being again dearer. To-day, as on Friday, pur-
chasers are quite indisposed to operate at the cur-
rent rates. In the cloth market there is next to no
business at all. Buyers will do nothing at present
prices with the unfavourable accounts they receive
from abroad; while, on the other hand, manufac-
turers seem almost equally unwilling to press their
productions for sale. The advices received yester-
day by mail report heavy losses both at Calcutta
and Bombay, and no doubt these will have a
tendency to make buyers more cautious than ever.
The dearness of discounts has also to be taken into
consideration. The tone of the market today is
further affected by reports of new failures. The
following is the weekly report of Messrs. J. Slagg
and Co. :—" Since Tuesday last the market has been
exceedingly flat for all descriptions of goods, and
prices, notwithstanding the advance in cotton, have
been in many cases weaker. To day buyers seem
more determined than before to hold aloof as much
as possible, and the business done has been alto-
gether inconsiderable in amount, and at prices
slightly against sellers.
LEEDS, 7th.—There has been but a small attend-
ance of buyers in the cloth halls this morning, and
there was little disposition to purchase. Prices were
a little easier for several of the lighter fabrics,
manufPcturers being willing to make some conces-
sion to meet the offers of purchasers ; but, after all,
the amount of business done in the public markets
was small. Wools remain steady in price, but little
is doing by the local brokers, as the attention of the
trade is directed to the series of colonial sales, which
commence in the metropolis on Thursday in the
present week. Messrs. Nicholson and Stone, of
Cannon-street, London, a firm who did a large
business in the mantle trade, has suspended pay-
ment, and several Leeds houses are affected. A
meeting of the Leeds creditors was held
this afternoon at the rooms of the Leeds
Chamber of Commerce, but was adjourned
until m ire complete information is received from
the accountants now investigating the affairs of
the firm. The liabilities are supposed to be
large. As connected with the trade of Leeds,
it may be mentioned that this town has long
been deficient, considering the extent of its pupa-
lation and the magnitude of the business done in it,
in necessary accommodation for the buying and
selling of corn, but at last its municipal authorities
have resolved to repair the deficiency. A suitable
building, designed by Mr. C. Broderick, the archi-
tect of the Leeds Town-hall, is about to be erected.
he site chosen is near Call-lane, within a very
short distance of the river Aire, and in a central
part of the town, close to the White Cloth-hall.
The structure will doubtless be an ornament to the
town, and will also afford ample convenience for
the farmers, corn-factors, and others who will re-
sort thereto for business purposes. The design is
somewhat after the style of the Coliseum at Rome.
The erection of this new Corn Exchange has been
let to Mr. S. Addy, of Leeds, for £12,033. The
foundation-stone was laid to-day with becoming
ceremony, by Mr. Alderman Gill, chairman of the
Markets Committee of the Town Council, in the
presence of several members of the Council, as well
as cornfactors, farmers, and others interested in the
project.
ROCHADLE, 6TH.—The financial trade has been
dull to day. The character of the American ad-
vices is such as to cause a suspension of nearly all
business with that quarter of the world, but a fair
business is doing for the Canadas. Exporters, how-
ever, generally continue to exercise great caution,
and hence the slackness in the trade. For the sea-
son there is a moderate amount of business doing in
the home trade, and machinery is kept in fair em-
ploy, and the operatives are in something like full
work. Stocks are pronounced to be in a reasonable
compass, and prices keep steady. Wools continue
without change. The demand is tolerably steady,
and staplers keep up last month's quotations.