The Sun.
London, England, 1844-11-09 00:00:00

STATE qy TRADE.

Since our last :;riicle under this head appeared, we
have Pr-eerienced very little change in the usual-
Z:nannels of business. There has been a moderate
consumptive demand, and nothing more, for the
leading articles of commerce ; and the stocks in im-
porters' hands being more than sufficient for the
wants of dealers, prices have rather receded than
otherwise; this will especially apply to sugar, coffee,
and cotton, and it is difficult to account for the pre-
sent position in which we find many of the most im-
portant articles of our trade.

- Money matters are still easy, and facilities readily
obtainable ; yet we find no disposition to speculate
in produce; indeed, the current of speculation flows
rather in the direction of railway schemes, which
are springing up in every quarter, and will, should
Parliament sanction their plans, find full employment
for all the spare capital of the kingdom for many
years. We are within the :nark if we estimate the
expenditure on these newly-projected undertakings
at twenty millions per annum ; and when we take
a retrospective view of late years, and consider
how short a time has elapsed since money was hardly
obtainable at six per cent., we think we find some
cause for alarm at the sudden and lavish expenditure
which these speculations suggest : yet we believe that
there are applicants for far more shares in every coin-
pany than their prospectuses require, and no sooner
are the shares allotted than the lucky holders rush into
the market, and find purchasers for their prizes at
considerable premiums. There is too much reason to
fear that a spirit of wild and deeply ruinous specula-
tion is afloat; and Parliament must, and we believe
will, energetically refuse to sanction such a lavish
expenditure, and thus many of the schemes will fall
through, and commerce will be saved from the serious
influences of such vast specalations, which must always
act unfavourably on mercantile operations.
In the manufacturing districts a good and improv-
ing business is going on, every cotton mill fit for
work is actively employed, operatives are getting
better wages, provisions are low in price, and masters
are making money more easily and more rapidly
than at any time for the last seven years, for, whilst
the prices of manufactured goods have been improv-
ing, the spinners have bought their cotton at gradu-
ally receding rates, and thus all the advantage has
been on their side.

Owing to adverse winds, our imports have been
light for some weeks, but so soon as a change takes
place we shall have ample supplies and full employ-
ment for out of door labourers. We may, too, ek-
pect the first indication of the extent of the new
trade in guano, the imports of which will begin to
be very extensive, and must insure the farmers a
large supply at very reasonable prices. Ships in
great numbel7t, continue sailing to Ichaboe, and
there IS every reason to believe that Great Britain will
receive a supply of 200,000 tons before the Ist June next,
besides which there will be large imports from the
South American coast. Thus we see a trade, as it were
only of yesterday's creation, surpassing in extent every
other branch of business; and whilst yielding lucrative
employment to shipping, it affords to agriculturists
a cheap and highly valuable manure for land. At
the present moment there is very little demand for
the article, and purchases for delivery in all this
month, might be made at 51. 103. per ton, which, con-
sidering that the freight alone is often 4/. per ton, and
in some cases more, yields but a small profit to the
importer, after paying the necessary expenses of load-
ing and landing.—Liverpool Mercury.
(From the Leeds Mercury.)
FOREIGN WOOL TRADE, LEEDS, Nov. B.—There
have been rather more inquiries for Foreign Wools
this week, and about an average quantity has changed
hands, at recent rates.
ENGLISH WOOL TRADE, LEEDS, Nov. B.—The
manufacturers still buy very sparingly, and only for
immediate use. We do not quote any alteration from
last week's prices.
WAKEFIELD WOOL MARKET, Nov. B.—There is
no relief to the dull state of the wool market reported
for several past weeks, and that this long abstinence
from buying on the part of the consumers has not
produced a greater effect on prices, can only be ac-
counted for by the light stock in growers' hands, and
the firmness with which it is held.
LEEDS.—We have this week had two of the dullest
markets at both our Cloth Halls that we have had
during the year ; there appears to be a little doing to
order, but a total absence of speculation in goods of
any description ; prices however keep steady, as the
manufacturers are curtailing the supply in preference
to submitting to any material reduction in price.
Business has also been dull in the warehouses during
the week ; there have been very few buyers in the
town, and foreign houses continue very still.
BRADFORD MARKET, THURSDAT.—.The demand for
combing wools has undergone no change during the
week ; the supply in the market is fully adequate,
in every description, to the requirements of the
trade. Although not more than half the usual bu-
siness has been transacted by the staplers generally,
during the last two months, prices have not receded
much ; indeed so little is the decline, that the spin-
ners are quite indifferent about prosecuting their
avocation. There is an evident flatness in the yarn
business, and the contracts entered into for November
are at lower rates. We scarcely ever knew such
general complaining amongst the spinners as at pre-
sent. 'runs are not more than ten per cent. higher
noti: than they were at this time last year, while
wool is fully twenty-five per cent. dearer, and higher
wages paid for labour. These very great dispropor-
tions at once account for the vast curtailment in the
production which is now adopted by almost every
establishment both in this town and the surrounding
neighbourhood. The piece trade continues in as un-
satisfactory a state as can well be imagined. Not-
withstanding the remarkable decrease in the pro-
duction, goods are dull of sale, and prices less than
the cost of making.
MANCHESTER, THURSDAY EVENING.—There is
no new feature in our cloth market this week,

though we have had accounts both from India and
China. The prices for all kinds of cloth are steady ;
though many had, no doubt anticipated that the ad-
vance in wages would have enabled the manufac-
turers to have realised a corresponding advance. The
home trade is most satisfactory, so far as regards de-
mand. In yarns there is an immense business
doing, and, under such circumstances, it is quite sur-
prising that an advance has not taken place, especi-
ally on export numbers.