The Sun.
London, England, 1868-04-10 00:00:00

STATE OF TRADE.

MANCHESTER, April 9.—People waited to-day
with some anxiety the report from Liverpool of the
result of yesterday's quarterly stock-taking of
cotton. The last Thursday placed the estimated
quantity of all descriptions at 312,040 bales. The
return this morning of actual stock is 356,645 against
357,450 estimated stock. The result disappoints
general expectation, which was in favour of a large
excess. Adding the receipts this year to the stock
at the end of last year a total of 1,544,C00 is ob-
tained, and estimating the weekly consumption and
export at 68,000, there should be a stock of about
592,000 bales. Of course if there are only 356,000
bales in Liverpool, there must be something like
240,000 bales in the hands of spinners or specu-
lators if this estimate is correct. There is very
little doubt that spinners hold large stocks, and
that some of them have been speculating, but it
will scarcely be believed that they hold such a
quantity as this. The effect of the return upon
the yarn and cloth market to-day has been to
curtail business without much affecting quotations.
Sellers of export yarns report the market quiet,
with very little business, though at the same time
spinners are very firm in their prices. In home
trade yarns sellers say the market has not responded
to the higher quotations in Liverpool for cotton,
and that the market is quieter. They find it diffi-
cult to obtain any advance on Tuesday's quotations.
There is a disposition to postpone business on the
part of buyers till of ter the holidays, and probably
there will be little further done till Tuesday. In
cloth sellers also remain firm at their quotations
for Tuesday, while buyers are apparently not dis-
posed to continue to operate for the present. The
business effected to-day has been very small. But
few offers have been obtainable for either cloth or
yarn during the entire day, Land the dispersion of
business people after Exchange hours was unusually
early.

•
BRADFORD, 9th.—The wool trade had assumed
a much quieter tone during the forenoon to-day,
but a change of feeling was apparent early
in the afternoon in consequence of the receipt
of a private telegram on 'Change to the effect
that the result of stock-taking in cotton at Liver-
pool had shown a much less quantity than had been
supposed. The dropping tendency of the prices of
wool was immediately checked, a much more cheer-
ful feeling prevailed, and although not much busi-
ness was done, prices of wool became again very
firm. Spinners generally exercise great caution,
having no faith that present rates can be sustained
near the time of clip. In worsted yarns, although
export merchants are less active, there is still a
brisk demand for twofold yarns, the prices of which
are again higher. There is still a good demand for
super 30's and other sorts. As most spinners are
well engaged to contract, there is no disposition to
take large orders, and some are quoting even higher
prices in order to keep off customers. The business
doing in pieces is not large. The home houses are
only just operating to assort stocks, and the Ame-
rican merchants, although looking round, buy little;
but there is an average business doing for the Con-
tinent. Prices are very firm, and in many instances
are higher than they were.

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