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

STATE OF TRADE.

Since our last article under this head appeared, we
have experienced very little change in the usual
channels 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, awl will, should
Parliament sanction their plans, find full employment
for all the spare capital of the kingdom tin- many
years. We are within the mark 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 requires 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 spetulti-.
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 speculations, 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 chanje takes
place we shall have ample supplies and full ewploy-
ment for out of door labourers. We may, too, ex-
pect the first indication of the extent of the neis-
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 numbers 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 valtiable 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 tit Si. 10s. 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. 8.-.-Th ere
have been rather more inquiries for Foreign Woo,lB
this week, and about an average quantity has changed
hands, at recent rates.
ENGLISH WOOL TRADE, 'LEEDS' Nov. 8.--The
manufacturers still buy very sparingly, and onl y for
immediate use. We do not quote any alteration' from
last week's prices.
WAKEFIELD WOOL MARKET, NOY. 8.--Ta Ire is
no relief to the dull state of the wool market rep orted
for several pest weeks, and that this long abstig ence
from buying on the part of the consumers has' not
produced a greater effect on prices, can only 14 ac-
counted for by the light stock in growers' hands, lnd
the firmness with which it is hold.
LEEDS.—We have this week had two of the dulle
markets at both our Cloth Halls that we have tusk I
during the year ; there appears to be a little doing tei
order, but a total absence of speculation in goods of,
any description ; prices however keep steady. as this ,
manufacturer* are curtailing the supply in prefereni
to submitting to any material reduction in pr'
Business has also been dull in the warehouses du
ionic

the week , • there have been very few buyers in the
town, and. foreign houses continue very still. t
BRADFORD MARKET, THURSDAY.— The demand o'
u"mbing wools has undergone no change during the
week; the supply in the market is fully adequstel
in every description, to the. requirements of' the
trade. Although not more than half the usual bit
siness has been transacted by the staplers geneNlll
during the last two month., prices have not Yeceilo
much ; indeed so little is the decline, that the MO:
ners are quite indifferent about prosecuting the°
avocation. There is an evident flatness in- the ygre
business, and the contracts entered into for Noveinbee
are at lower rates. We scarcely ever knew "stieb
general complaining amongst the spinners as at pre.
sent. Yarns are not more than ten per cent. bight!
now than. they were at this time last yew', while
wool is fully twenty-five per cent. dearer, andfhigbee
wages paid for labour. These very great disproeL.
lions at once account for the vast curt Ailment 0,
i.roduction which is now adopted by almost ever,
establishment both in this town and the surrouddi,l4
neighbourhood. The piece trade continues in as
satisfactory a state as can well, be imagined.
withstanding the remarkable decrease in the. Pre'
duction, goods are dull of sale, and prices less tho
the cost of making.
MANCHESTER, THURSDAY EVENING.—There
no new feature in our cloth market this wee'',
though we have had accounts both from India' tin"
China, The prices for all kinds of cloth are stettai,'
though many had, no doubt anticipated that the it°'
vance in wages would have enabled the manuke:
Curers to have realised a correspondingadvancs. ID°
home ttlide-is most satisfactory, so far as regards t"
wand. In yarns there is an Itiamense—latoble'
doing, and, under such circumstoces, it .ia.quite stl.‘
prising that an advance has note token place, ord.
ally on export numbers.