The Sun.
London, England, 1868-02-27 00:00:00

STATE OF TRADE.

MANCHESTER, Feb. 25.—The market for cotton
yarn and cloth has been gradually declining ever
since Friday noon, under the combined influences
of a stagnation caused by high prices and sympathy
with a weaker cotton-market at Liverpool. The
decline will fully average id. per lb., but in some
cases will exceed that. Sellers of shipping yarns
say the market for these goods has been very strong
to-day, and that a fair business has been done at
full prices—that is to say, the full prices quoted
this morning; and that later news from Liverpool,
by telegram, this afternoon has had a tendency to
increase operations as compared with the state of
things this morning. In the home trade yarn-
market business was quiet at the commencement
this morning, and spinners were anxious sellers, at
a decline of id. (some say id. to id.) per lb. as com-
pared with Friday last. There was even a disposi-
tion to greater weakness, but it has been checked
by advices from Liverpool of a stronger feeling hav-
ing sprung up in the cotton-market. This branch
of the market closes moderately firm, but the whole
transactions of the day have been but small. In
clothe' thoro has boon vory littler doing for a wok
past, and since the commencement of a reaction in
cotton some days ago there has been but little
change, although buyers have had the option of
purchasing on much easier terms. But little busi-
ness has been practicable at any pric3. Manufac-
turers are still to some extent in a disadvantageous
position as to obtaining fresh orders in conse-
quence of the numerous resale lots of cloth pressed
upon the market by speculators at lower prices than
the goods could now be made. To-day, although
the market has no appearance of gloom, buyers
show very little disposition to purchase, and few
offers have been made which could be accepted by
makers. It is impossible in the present state of the
market to give a very accurate idea of values, but
no doubt where a chance of business offered sellers
would be willing to make a reduction on the 811 b.
shirting of 4id. per piece; but they cannot get
offers at anything like these terms. Messrs. John
Slagg and Co. report :—" We have had an inactive
week, and the declining tone of the Liverpool mar-
ket during the last few days has materially affected
the value of the goods. In the absence of business
to-day we do not alter our quotations, but repeat
them as entirely nominal."
CARDIFF, 24th.—One by one the collieries of the
district are again gradually getting into regular
work, the men in the various localities that send
coal to this port having accepted the reduction,
which varies from 10 to 13 per cent. For steam
coals the demand oa foreign account keeps about the
average, and quotations are without change. The
exports for February will probably show a decrease
as compared with the corresponding month, owing
to the difficulty with the colliers ; but there is a
prospect that March will show better results. For
shipment at Birkenhead about the usual quantity is
sent. House qualities command a slow sale, and
the consumption is hardly equal to what it was last
year. At the principal ironworks the same degree
of quietude which has characterised the trade for a
long period still prevails, but there is a more hope-
ful feeling evinced, and makers generally believe
that before long a marked improvement will set in.
Inquiries from the American markets are increasing,
and continental requirements are likely to be large
this year. Home business is without alteration.
Tin plates are in fair request, and there is every
probability of an improving market.

.MARKETS—( 2 his Day.)

METROPOLITAN CATTLE MARKET.

The supplies of fat stock on the market to-day wore
light, but prices were lower,
Of beasts thero were 790, including 280 foreign. The
demand was dull, and prices easier.

The number of sheep was 3,850, the proportion of foreign
being 550. The trade ruled heavy at lower rates.
There were 166 calves on sale, of which 113 were from
the Continent. There wdits a quiet demand, at drooping
prices.

Pork in moderate request. The number of pigs on sale
90, including 25 from abroad.

Quotations—Beef, 3s to 4$ 10d; mutton, 35 4d to 5s 2d
veal, 3s 4d to 6s ; pork, 3e to 4s per stone of 81b, sinking
the offal.

OlLS.—Linseed is quiet, at 34s 9d to 35s ; English
brown rape, 34s 9d. ; palm, 39s 6d ; cocoanut, Ceylon,
49s 6d ; Cochin, 55s to 55s 6d per cwt.

TALLOW.

The market is quiet, without change from the rates of
yesterday.

COLONIAL AND FOREIGN PRODUCE.

Sl:GAL—There is a good inquiry for refined sugars,
which aro firmly held, and common English lumps are
quoted a t 42s Gd to 42s 9d.

COFFEE.—For plantation Ceylon of tho better descrip-
tions, and also for fine East Indian, there is a very firm
market.

RICE.—On the spot business is restrided, but thero is
still an inquiry for floating cargoes, and another of Saigon
was sold yesterday, at Us 6d London terms.
TEA.—The sales of Indian tea were resumed this morn-
ing, and are progressing with fair spirit at previous rates.